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Can You Make Money on Instagram?
You can absolutely make money on Instagram! In fact, there are multiple ways to monetize Instagram, which I’ll talk about later in this article.
Now let’s see take a look at some of the most important numbers:
- How many followers you need to make money
- And how much money you can expect to make on Instagram
How Many Instagram Followers Do You Need To Make Money?
Now that you know that you can make money on Instagram, you might be wondering how many followers you need to get started.
In fact, you don’t need as many followers as you may think because more and more brands focus on engagement rate rather than follower count today. Anything above 3% engagement rate is considered to be a reasonable rate.
Engagement Rate = Number of Likes+Comments on a Post / Total Number of Followers
You can also use the Instagram Engagement Rate Calculator to understand your engagement rate easily.
So as long as your engagement rate is above 3%, you can start partnering with brands and earning money (or at least free products) with as little as 5,000 followers.
Influencers with a low amount of followers, such as 5,000, 10,000, and 20,000, are considered micro-influencers. And what’s good, many brands prefer partnering with micro-influencers because they might have the most genuine audience.
How Much Money Can You Make on Instagram?
How much money you can make on Instagram depends on various factors, including:
- Your follower count
- Engagement rate
- Your reputation among your followers
In general, it’s possible to make $80 per post as a beginner Instagrammer and up to $1m per post with hundreds of millions of followers.
Let’s break down the Instagram income based on your follower count:
|Instagram Follower Count||Earnings|
|Up to 10,000 followers||$88 /post|
|10,000 to 100,000 followers||$200 /post|
|100,000 to 1,000,000 followers||$670 /post|
|1,000,000+ followers||$3,000+ /post|
Who is the Highest Paid Instagrammer?
Currently, the highest paid Instagrammer, Dwayne Johnson (the Rock), with 241m followers, is paid over $1m per post. Kylie Jenner follows closely with 223m followers making $986,000 per post.
|Instagrammer||Follower Count||Rate per Post|
|Dwayne Johnson (the Rock)||241m||$1m|
How to Make Money on Instagram?
1. Become an Influencer & Work With Brands on Sponsored Posts
Many businesses are using influencer marketing to build awareness about their brands and increase their sales. According to the study conducted by Rakuten Marketing, 8 out of 10 consumers have purchased something after seeing it recommended by an influencer.
But to become a successful influencer, you should build an authentic audience that trusts you and engages with you.
As mentioned above, you don’t need as many followers as you may think to become an influencer.
According to the latest data, micro-influencers (with 10,000 or fewer followers) have higher engagement rates than larger influencers with hundreds of thousands of followers. Accordingly, micro-influencers are getting the best results for businesses at a lower ROI.
2. Become an Affiliate & Make Money Selling Other People’s Products
Affiliate marketing is one of the top ways to making money on Instagram. As an affiliate marketer, you’d be promoting certain brands’ products and getting a commission every time your follower purchases a product with your affiliate link.
Amazon has one of the best affiliate programs as many people have Amazon Prime accounts, making Amazon purchases on a regular basis.
As an Amazon affiliate, you can make up to 10% commission from each sale made through your link. While this commission may be relatively low, it’s still a great option because Amazon is a brand everyone trusts.
Here’s the list of the best websites where you can find affiliate programs to join:
There is not exact follower threshold for becoming an affiliate marketer. However, the more followers, the better.
Affiliate links are inserted on the Instagram bio. The links should be clickable to direct visitors to the main product page. Also, writing a call-to-action note may help create attention about your affiliate marketing to increase clicks.
Pro tip: You can also start a blog to promote your affiliate links even further.
3. Open Your Own Online Store & Sell Products Through Instagram
Turning Instagram into your e-commerce platform is one of the best ways to make money online.
What’s good about selling our products through Instagram is that you don’t necessarily need to have a website. You can simply post your products on Instagram and communicate with your customers through Instagram DMs.
However, it’s highly recommended to create a website for your online store to make your brand more reputable. Plus, having a website enables you to sell your products worldwide.
Shopify is one of the best online store builders that allows you to develop your e-commerce store easily.
If you’re more into selling handmade products, you should also check out Etsy.
4. Become a Virtual Assistant to an Influencer
Larger Instagram influencers are usually busy; along with creating content for their Instagram, they have constant contact with brands.
That’s why many successful influencers are looking for a virtual assistant to help them manage their daily tasks.
Tasks you may be required to do as a virtual assistant to an influencer:
- Answering emails
- Scheduling meetings (online or in-person)
- Managing the influencer’s schedule
- Answering DMs on Instagram
- Replying to comments
- Managing posts
- Scheduling posts
- Analyzing the results
- And more
5. Sell Instagram Caption Services
- You’re selling a service at the price you set and not your time
- Remain anonymous – Fiverr allows you to remain anonymous and don’t reveal any personal or contact information of yours
- Upsell opportunities. You can increase your Fiverr earnings by offering your clients upsells. E.g. you can offer less delivery time for additional payment
- Seller protection. Fiverr ensures your and your funds’ security on the platform and helps you resolve the case with fraudulent clients
If you enjoy writing Instagram captions, you could sell your service and write captions for various business or influencer accounts.
The best place to find clients who’d buy your Instagram caption services is Fiverr. Fiverr is one of the largest freelancing marketplaces where you can list your services for buyers to purchase your packages directly, without much back-and-forth communication.
Prices for Instagram caption services on Fiverr start at $5. However, to get the most out of it, you’ll find most people offering service packages. For example, 5 Instagram captions of about 50 words each for $40.
6. Build & Sell Your Instagram Account
If you’re good at growing Instagram accounts, you can actually make money by building one from scratch and selling it for profit.
Here are some tips you should consider to get the most out of the sale:
- The account should have at least 1,000 followers
- Your audience must be authentic – no bot accounts
- The account’s engagement rate should be above 4% if it’s a micro-page and above 2% if it’s larger than 20,000 followers
Should I Make Money on Instagram?
Overall, Instagram is a fun app with many money-making opportunities that you shouldn’t miss.
However, I’d recommend you take time to decide which of these 6 ways you’d enjoy making money the most. This way, you can choose the Instagram job that won’t feel like a job while earning you money at the same time.