HypeAuditor surveyed over 1860 influencers and concluded that an average influencer makes $2,970 per month. But there is a wide variation between the influencers with 10,000 or fewer followers and those with more than that.
You can be one of those influencers too. All you need is good research and strategy on how Instagram can become a money-making machine. The earning potential on this platform is massive but requires patience and commitment.
This article will help you understand how Instagram can be a perfect platform to create a new income stream, and you can use it as a guide to identifying your area of interest.
Let us dive in!
- Sponsored Posts
This is the most popular way used by creators to earn through Instagram. For those wondering how sponsorship on Instagram works, it revolves around promoting a product in a way that looks authentic and benefits the brand. The posts usually are marked with #sponsorship or #ad to differentiate them from the regular posts of the creator. Instagram Reels Downloader is mostly used to download reels that are sponsored posts.
Every brand, regardless of its market capitalization, prefers Instagram as a great source to expand its consumer base. As your follower base grows, it results in higher engagement which acts as bait for brands.
After growing a sufficient audience, you can leverage it to negotiate with big brands.
Another way is to lure brands to work with you by producing content that resonates with their brand values. For example, if you have a dog, you can target a veterinary brand or a dog food company by frequently posting content related to your furry friend.
- Affiliate Marketing
While sponsored posts aim at creating awareness around the brand, affiliate marketing aims to promote sales and earn a percentage of it as income.
All you have to do is enroll in some high-quality affiliate programs and mention the links given by them in your posts or bio. The more people will buy the product, the higher income you will get.
Creators usually add quirky and funny captions to not make the link too obvious but still draw the viewers’ attention.
- Selling on Instagram
Setting up Instagram Shop
If you have a business that will resonate with a younger age group, the Instagram shop is the perfect platform to improve your sales and get traffic on your website.
All you need to do is tag your product link on the image, which will take the viewer to the product page, and if they love your product, voila! You just made a sale without spending any extra penny on advertising. While setting up your Instagram shop, don’t forget to use a unique Instagram DP that would serve as a brand logo.
Selling Digital Products
You can earn on Instagram even when you don’t have any physical products. How? Trade in digital products. If you are a photography enthusiast or an art lover, you can click aesthetic images on Instagram. Add a shoppable link to the website for brands interested in getting those photographs.
Many travel companies look for beautiful landscape photographs or stationery product websites that need artistic photos to promote their product. These digital products are not limited to travel or art but can be anything.
- Instagram Strategist and Manager
Can you manage someone else’s profile and not create your content? This field is the right fit for you. Every day many influencers and content creators are added to Instagram, looking for guidance to navigate the algorithms and gain traction.
The creators who have a massive following need someone to manage their Instagram profiles so they can focus on other tasks.
You can master the Instagram algorithm and guide new creators or manage other Instagram profiles and earn a fortune!!
If you are someone who prides on writing excellent captions, you can use the skill to capture the attention of business houses that are ready to pay a fortune for good Instagram caption writers.
You can help them by writing captions that grab eyeballs and improve the brand’s sales.
- Personal Branding
If you are an expert in creative fields like writing, videography, modeling, and others, leverage your skills and create content on Instagram. You can tease your followers by showing snippets of your work and adding a link to the description where users can find more information about your skills.
You don’t necessarily need shoppable products to drive traffic to your website. If you write blogs or have a website for poetry, it’s time to showcase what you are capable of to the world!
The increased traffic solidifies you as a brand that writes specific content types enabling future recruiters to notice your skills. You never know when a golden opportunity might fall into your lap!
The post-pandemic world has provoked people to create multiple revenue streams to safeguard against economic stresses. Instagram is one of the most secure hustles that can reap massive rewards, help in being noticed, and improve earning potential.