How to make money from Instagram (10 proven ways in 2024)
Instagram has come a long way since its origins as a simple photo-sharing app. It is now a very powerful platform for businesses, influencers and everyday users to make
money from their presence on Instagram. With over a billion people using Instagram every month, spending an average of 30 minutes on the app every day, it's no wonder it's become a popular social media platform for monetization.
The good news is that you don't need to have the coveted 10k+ follower numbers to make money on Instagram. With the launch of Stories, IGTV, and Reels, the average user has more and more tools to leverage Instagram's monetization potential. Over 50% of people have visited a website to purchase a product or service after seeing it on Instagram, so we know the platform converts into sales too.
10 ways to make money from Instagram
There are quite a few options to explore to make money on Instagram that don't just depend on the size of your audience and follower numbers. No matter what your current skills and interests are, you're sure to find a method in this article that you can use to start making money from your existing Instagram account. Here are 10 proven ways to start making money on Instagram.
1. Influencer marketing
Once you reach Instagram influencer status, you can use your Instagram account to promote a variety of products or services from all types of brands. So the question becomes, what determines whether you get the title of “influencer”?
Simply put, an influencer is someone who can influence the purchasing decisions of others because of their knowledge, position, authority, or relationship with the audience. Additionally, the influencer has followers in a certain niche and actively engages with those followers.
Note that this explanation of the influencer did not include any specific follower numbers or statistics. It's all about the influencer's relationship with their followers and their ability to influence purchasing decisions. Of course, with a larger number of followers, you can reach more people and therefore become more attractive to big brands. However, small, highly engaged, highly niche accounts can also be very profitable, as they typically have a closer relationship with their audience.
If you have an Instagram account of any size, it's helpful to reach out to brands you think your audience will enjoy. Brands will often give you a discount code to offer to your followers, which then helps feed your audience's purchases back into your marketing efforts.
If you don't feel like you've reached influencer status yet, try our next affiliate marketing idea in the meantime, as a way to make money while building your Instagram account.
- Affiliate marketing
With affiliate marketing on Instagram, you have two options. You can start a blog where you promote affiliate offers and then simply use your Instagram account to direct people to your value-packed blog posts.
You can also use your Instagram account to directly promote affiliate products to your audience. In this case, you'll typically include your referral link in your Instagram bio, and then direct people to that link through your Instagram Stories, or other posts you make on your account.
With Instagram affiliate marketing, you can get a great sense of what types of offers your audience likes and how to market them in a way that gets results. This can be useful if you eventually want to pursue influencer brand deals with major companies.
- Create content for other people
Instagram is a powerful platform and an important marketing tool for many brands and influencers. It can also take a lot of time to create all the marketing assets needed to have a presence on Instagram, including writing captions, taking photos, creating custom stickers, designing stories, and other content creation tasks.
If you don't want to grow an Instagram account from scratch, you can make money with Instagram by creating content for others. If you have good graphic design skills and understand how to write engaging captions, this could be for you.
You can connect one-on-one with Instagramers and offer your services as a great way to start your business. Create a document that lists content creation packages, pricing, and some examples of your work to show your potential clients that you're a professional at what you do.
- Become a VA for the influencer
Once an Instagram account reaches a large number of followers, it can be difficult for the account creator to keep up with all the tasks involved in maintaining it. An Instagramer wants to focus on interacting with their audience, rather than worrying about spam comments or filtering through their DMs.
By becoming a virtual assistant to an Instagram influencer, you will help them with those daily tasks that they don't have time to handle anymore. These tasks can include identifying and removing fake followers, removing spam comments, filtering through sponsorship requests, monitoring Instagram ads, and engaging with other Instagram accounts.
Set an hourly VA rate, or create a few packages for a set number of work hours per month, then start reaching out to larger influencers to offer your help.
- Sell the products you make
You can sell products you make, such as hats, t-shirts, or other merchandise, in many different ways using Instagram. Instagram gives you the option to create an Instagram store and integrate your product catalog directly with your Instagram profile. This allows you to promote your products to Instagram users through posts, stories, the Explore tab, and a private shopping tab on your profile.
You can also consider opening a store on a separate website with Shopify or Square Online, then linking the shopping experience to Instagram using free apps. This allows Instagram shoppers to feel like they're still on your Instagram account even though they're shopping on your store's app page.
- Selling digital products
Depending on your niche on Instagram, there are quite a few free digital products you can offer your audience. This can include items such as images, photo editing presets, printed materials, worksheets, videos, guides, e-books, or pretty much any other valuable information that can be delivered over the Internet.
You'll need to set up your digital products for sale using an automated system like Sellfy, Podia, or Gumroad so people can buy and receive their purchase right away. Insert your sales page link into your bio, then start talking about your offer in your Stories, directing people to the bio link to purchase.
- Sell a course to your audience
If you're getting questions from your followers about how and what you do or people offering to pay for your knowledge, creating an online course is a great next step. Once you put all your knowledge into a step-by-step online course, you have a place to direct everyone who asks for additional help.
Your online course can be as complex or simple as you want it to be. It can use video, text, audio, or a combination of the three to teach your method to your students. The best part is that once you've done the work to create the course, it can be sold over and over again without any extra effort on your part. Add the course sales page link to your resume and start talking about it in your stories, posts, and reels, and you're sure to get your first sale soon.
- Providing consulting services
Have you ever created a successful Instagram account and discovered the “success secrets” of the Instagram algorithm? If so, you're in a good position to consult with brands or aspiring influencers who want to grow their own accounts.
By offering consulting services, you cut out the initial work involved in creating an online course and can start making money right away. Talk about your consulting offer on Instagram, and invite people to DM if you're interested. You can offer one-hour Zoom strategy sessions as a simple way to get started and then consider expanding into consulting and ongoing support.
- Sell dropshipping products
Do you want to sell a product but don't want to worry about carrying inventory? Then dropshipping may be for you. When someone buys a product from your site that is offered through dropshipping, the company supplying the product will take care of fulfilling the order and shipping it to the customer.
Dropshipping allows you to focus on marketing the product, rather than worrying about fulfillment, shipping, and inventory. You can promote your dropshipping products by including a link in your Instagram bio to your store page and then talking about that link in your Instagram stories and posts.
- Be a brand ambassador
It's a win-win for both Instagram influencers and the brands they work with when developing a long-term business relationship. When an influencer becomes a brand ambassador, their audience learns about the brand on a regular basis and sees the brand's products being talked about by someone they trust in a positive light.
Brands also want this type of partnership, so they don't need to constantly search for new influencers for one-time sponsored posts. This can become a very lucrative relationship, as influencers with over 500,000 followers can earn over $50,000 annually through brand ambassadorships.
Best tips to make money on Instagram
There are several best practices to follow when you're growing your account and making money on Instagram. Let's take a look at some of the best tips here.
Sign up for a business or influencer account
If you want to make money on Instagram, you should sign up for a business or influencer account. These account types will give you access to the Instagram insights and insights you'll need to do business on the app with other brands. If you currently have a different type of Instagram account, you can convert it to a business or influencer account.
Plan your Instagram strategy
Most importantly for Instagram growth, you'll want to define your strategy and stick to it consistently. Think about your audience and who you are looking to attract. What are the demographics of your ideal persona (i.e. ideal customer)? Who are they and what type of content attracts their interest?
Also, consider your location. Does your account need to attract followers in a specific location to be successful? You'll want to plan your use of geotags for your posts, along with the use of location-specific hashtags.
Finally, think about your specific niche. There is a reason for the phrase “richness in outlets.” “The more specific you become about your niche, the easier it will be for you to post content that is uniquely relevant to your followers. This can help you grow a loyal following quickly.
Create a strong resume and profile
Your Instagram bio can only contain up to 150 characters, so you have to make it count. You'll want to clearly describe who your account is for and how it will benefit them. Answering the question “Why should they follow you?”, including searchable keywords in your bio and username, is also a smart practice. If your brand is location-specific, include this information in your bio as well.
You only get one clickable link in your bio, so go to your primary website. Or you can use an app to create a profile link where you can list multiple links for your audience to choose from.
Have consistent branding for your account
While the days of completely flat, polished images on Instagram are over, it's still important to have consistent branding for your account. Choosing two colors that you will include in most of your photos and using the same filter in all posts is a great place to start. You'll create a well-branded aesthetic account that allows you to post “realistic” photos.
Share engaging, quality content
Instagram is becoming more and more about creating quality content that other users will want to save or share with others, rather than just posting personal photos and stories. When thinking about the content you share, ask yourself: Will someone have a reason to save this post for later reference?
Use the right hashtags
Hashtags are how new people find your Instagram account. You can use up to 30 hashtags per post. When considering which hashtags to choose, you'll want to choose hashtags that are large enough that people will use them regularly, but not so large that your posts will be overlooked.
Stay consistent with your posting schedule
Consistency is important when it comes to posting on Instagram. One post a day is a commonly recommended posting schedule, however, you have to decide what you can stick to. It would be better to consistently post three times a week, rather than increasing the frequency, but taking big breaks in your schedule.
Run contests and giveaways to grow your account
Running contests and giveaways on Instagram can be a great way to grow your account quickly. Ideally, you'll want to choose a unique award that fits your niche and that will attract the type of followers to your account who will appreciate your content. Avoid awards that may appeal to everyone.
When setting the rules for your contest or giveaway, you'll want to choose a hashtag for everyone to use when participating. Make sure all participants are required to like, comment on the post, and follow your account. You may want to consider having participants tag their friends for additional entries, or repost the contest photo to their Instagram account.
Connect with others in your field
Developing a relationship with other Instagrammers in your niche is always a good idea. This can be as simple as interacting with commenters on another Instagrammer account.
You can also try creating stories that recommend other larger accounts in your niche and tag them in your stories. This often results in your stories being shared by the larger account, creating exposure to their audience.
Another strategy is to respond to stories of other influencers in your niche as a natural way to enter DMs to start a conversation.
Interact with your audience
Engagement is one of the most important metrics when it comes to the success of your Instagram account. This is not a social media platform where you can post and disappear or hand all the work over to the VA. No matter the size of your account, the basics of replying to comments and answering direct messages are two of the most important tasks you can do.
You can also encourage engagement with your audience by asking questions in your post captions and using engaging features in your Stories with poll stickers and questions.
Go to new Instagram trends and features
Like most social media platforms, Instagram loves it when its users quickly embrace using the new features it introduces. Instagram appears to be rewarding those accounts that are early adopters of its new features with more reach and engagement for those accounts. Right now, Instagram Stories, IGTV, and Reels are the hottest new Instagram features.
Use Instagram Ads to amplify your reach and grow faster
If you're willing to invest a little money in growing your Instagram, using Instagram ads can be a great way to amplify your reach and grow your account faster. Story ads are very popular right now and work well if you are trying to achieve influencer status. Even if someone isn't ready to sign up for your offer or buy your product, they'll likely check out your profile and follow you if they like what they see.
Questions and answers about how to make money on Instagram
Can you make money on Instagram? Let's break it down. Below are the most frequently asked questions on the web.
Can you make money from Instagram?
Hand in hand, yes! You can make money on Instagram. Take a look at the ideas in this article, and you're sure to find a money-making Instagram strategy that works for you. If you have a large, engaged account, you can start taking advantage of affiliate and influencer marketing, along with brand ambassador agreements. Or if you prefer to help others with large Instagram accounts and make money in the process, you can offer content creation and virtual assistant services.
How much do Instagram influencers earn?
Although there are no hard and fast rules about how much you can be paid as an influencer, there are some standard guidelines to follow.
When paying per sponsored post, brands usually consider which category of influencer they consider you to fall into.
Micro-influencers have less than 10k followers and average $88 per post.
Mid-tier influencers have between 10-100k followers and make around $200 per post.
Top-tier influencers have between 100,000 and 1 million followers and earn an average of $670 per post, although this can vary greatly.
The best Instagrammers can easily make thousands of dollars per post.
Of course, there are many ways to make money from Instagram other than sponsored content.
As you grow your account, you can use a variety of strategies we've looked at in this article to diversify your income.
How many Instagram followers do you need to make money?
While follower numbers can be important for brands, what's even more important is the engagement and loyalty of your followers. An account with 100,000 followers full of fake accounts will be much less valuable than an account with 10,000 highly engaged fans. While top Instagrammers make thousands of dollars per post, even those with a small but engaged following of 1000+ have the potential to start making money.
How can I increase my Instagram audience?
Start growing your Instagram account by defining your niche and creating a consistent brand aesthetic through colors and photo filters. Post valuable content that resonates with people interested in your niche so that they'll want to like, save, and share your post.
Make sure to use a variety of Instagram features like Stories, IGTV, and Reels to share your content. Start making connections with other Instagrammers in your niche and engage with your followers through comments and responding to direct messages. Soon, you'll be amassing an engaged and profitable following!
How much money can you earn on Instagram?
There is no limit to how much you can earn with Instagram! As you continue to grow your account and use multiple money-making strategies, you have the potential to dramatically increase your income with Instagram.
Brands typically pay anywhere from $10 to $500 per 1,000 followers depending on your niche and engagement. If you have a small number of followers and want to increase your earnings, the best idea is to diversify your income streams by adding other social media platforms to your marketing strategy. Or you can try multiple strategies to make money on Instagram including selling digital or physical products and providing consulting to others.
Can I sell products on Instagram?
Yes, you can sell products on Instagram! If you have products to sell, you can create an Instagram store or connect your e-commerce website to your Instagram account. Alternatively, you can sell other people's products through dropshipping or affiliate marketing.
How to get sponsorship offers on Instagram?
If you want to continue sponsorships on Instagram, first make sure you're following the best practices we talked about in this article regarding post frequency, hashtag usage, and staying on brand.
Also check how easy it is to find your contact information in your Instagram bio.
Then, you can start actively targeting brands you want to work with by tagging the brand in your posts when appropriate.
Or you can be more proactive in your sponsorship search by emailing or direct messaging brands you want to work with.
Consider starting with smaller brands and building your portfolio.
Think of your Instagram account as a long-term money-making asset. The work you do now to grow your following will continue to benefit you in the future. Figure out your strategy, stay consistent, and remember, it's never too late to start growing your Instagram account. Your future bank account will thank you!