monetizing instagram

Monetizing Instagram: Turning 2023 Trends Into Profit

Scrolling through your Instagram feed, you can notice your beloved content creators endorsing various brand products. Have you ever thought about joining in on this lucrative trend?.

The good news is that you don’t need millions of followers like the A-list celebrities who can command seven-figure sums for a single sponsored post. In reality, even Instagram creators with as few as 1,000 followers have several avenues for generating income. 

Whether your goal is to establish a solid presence on social media or make some extra money through a profitable side gig, earning on Instagram is easier than you think.

Can you still earn money on Instagram?

Making money on Instagram is possible and a top priority for the platform, especially in the face of competition from TikTok, Snapchat, and YouTube. Instagram is committed to helping creators earn a living on their platform.

There is an immense potential audience at your disposal. With such a vast and diverse user base, many opportunities exist to monetize your content and earn money on Instagram. 

How much can you earn from the platform?

Determining the amount of money one can make on Instagram can be a complex task due to various factors. Also, brands and creators don’t disclose their earnings that easily. 

For example, if you create a viral reel that leads to a record deal and concert ticket sales, can you attribute that success solely to Instagram? What if you post food videos, direct followers to your recipe blog, and earn money through blog ads—does that count as Instagram income?

Despite the complexities and challenges, it is still possible to earn money on Instagram. 

Earnings of successful content creators

Many successful creators’ journeys involve multiple revenue streams, and the amount you can make on Instagram depends on several factors, including your credentials, audience size, engagement, strategy, effort, and even a bit of luck.

An average Instagram influencer with 1,000 to 10,000 followers can make around $901 per post. 

Creators can be paid between $100 to $1,500 for a swipe-up advertisement on their Instagram stories. 

Kylie Jenner reportedly makes around $1.8 million per ad or sponsored content post. Cristiano Ronaldo reportedly makes approximately $2.3 million per post.

Instagram influencer average earnings

A 2021 survey by Hype Auditor, which included nearly 2,000 influencers primarily based in the U.S., found that 48.49% of influencers reported generating income from their Instagram accounts.

On average, influencers make $2,970 per month through their Instagram presence. When broken down, micro-influencers earn around $1,420 per month, while mega-influencers can make as much as $15,356 per month.

On average, influencers dedicate 24 hours per week to managing their accounts. This time is primarily allocated to creating post stories engaging with followers, with comparatively less time spent on team management, marketing strategy, and partner communication.

Influencers who monetize their accounts spend an average of 28.7 hours per week, while those who don’t earn any income invest an average of 20.9 hours per week. The typical influencer earns an average of $31 per hour. 

Influencers in the real estate niche, like Chip Gaines, earn $17,126 per post. On top of the list is Joanna Gaines, making $45,329 per post. Aside from a sneak peek into their daily lives, these influencers share content like flipping properties, remodeling houses, refinance home loan rates, and property listings. 

For mega-influencers, earnings can start at $187 per hour, considering the time they put into managing their accounts.

Remember that these figures can vary widely, and success on Instagram depends on numerous variables, including niche, engagement, and the creator’s unique circumstances. 

It’s important to note that income on Instagram is not solely based on follower count but also on engagement quality and the creator’s ability to leverage their platform for various income streams.

How To Make Money on Instagram With 2023 Trends

As you know, earning on Instagram isn’t solely tied to your follower count. The effectiveness of income-generating methods varies according to your distinctive style of Instagram content, your target audience, and your dedication level. 

To enhance your income potential, consider incorporating multiple strategies. Diversifying your revenue streams is a wise financial approach as you delve into making money on Instagram.

Engage in collaborative partnerships with brands for sponsored content

An Instagram influencer, whether a content creator or a celebrity, possesses the power to sway and engage a dedicated following of fans and supporters. In the eyes of their audience, influencers are trendsetters, tastemakers, and trusted authorities in their particular niches or fields of influence.

Brands frequently find it challenging to replicate the genuine and authentic moments that real individuals share. Instead, they leverage this influence by teaming up with verified Instagram creators whose audience aligns with their desired customer base. 

Brands compensate influencers for generating sponsored content, in which these creators endorse products through Instagram stories, posts, and reels. For instance, content creator Dapper on the Daily frequently collaborates with Disney, a strategic partnership given her following of moms.

Establish your e-commerce store

Creators from diverse backgrounds are in a favorable position to market their products, whether from external brands. 

Whether these are physical items, services, or digital goods doesn’t matter. All these can serve as an extension of a creator’s brand, offering value to their audience and allowing them to acquire a piece of their favorite online personalities.

The lines between being a creator and an entrepreneur are becoming increasingly blurred, with more individuals seeking financial independence by monetizing their skills and passions. 

Several options for marketing products and services online include:

  • Sell services, such as photography or consulting, by guiding Instagram users to your professional website
  • Provide digital products, like online courses, soundtracks, e-books, or design presets
  • Showcase your unique products and manage the shipping process, or utilize a fulfillment warehouse
  • Utilize dropshipping to sell products without overseeing inventory and shipping logistics

Partner with Brands 

Have you ever recommended a product or service to a friend and felt happy when they loved it? Affiliate marketing capitalizes on that experience, allowing you to earn commissions by promoting products you genuinely like and use directly through your Instagram content.

While creating compelling content and building a strong community is crucial, strategic partnerships can add another layer of success to your Instagram monetization strategy. Collaborating with brands aligns your passion with their marketing goals, opening doors to exciting opportunities. Remember, the key is to partner with brands that share your values and resonate with your audience for authentic and mutually beneficial collaborations. 

It’s essential to align your niche and values with your collaborators. 
Partnering with brands relevant to your content and audience fosters trust and authenticity. For instance, a dentist influencer might partner with a dental marketing agency for teeth whitening products or dental clinic services. At the same time, a food blogger could team up with a sustainable kitchenware brand.

Don’t just post affiliate links and expect sales. Integrate promotions seamlessly into your content strategy: 

  • Authentic reviews – Share genuine experiences with the product, highlighting its benefits and addressing potential drawbacks. 
  • Tutorials and demos – Showcase how to use the product, adding value and increasing perceived worth. 
  • Comparative content – Highlight why your product stands out among competitors, justifying its price point. 
  • Limited-time offers – Utilize exclusive discount codes or deals to incentivize immediate action. 

Authenticity and transparency are vital to building trust and achieving long-term success in this field.

Explore affiliate marketing

An affiliate marketer, whether a creator or publisher, shares unique links to brands and products, earning a commission every time those links result in sales. Brands supply a traceable link or a distinct promotional code to a creator.

In contrast to influencers, who often receive a fixed fee for their exposure, affiliates generate income only when their efforts lead to a purchase.

You can employ a combination of links within your Instagram bio, Instagram Stories, and on your link-in-bio page (enabling you to promote multiple brands). Additionally, you can share promotional codes in your post captions, as direct links aren’t allowed, providing more opportunities to drive sales.

Introduce paid subscriptions

Once you’ve captivated your followers with your content, allow them to access exclusive content by subscribing. Instagram’s native subscription program is available to U.S. creators who are over 18 and have more than 10,000 subscribers.

You can also use third-party tools like Patreon to monetize your Instagram through subscription offerings. Substack presents another subscription avenue if you wish to launch a fan-exclusive newsletter to complement your Instagram page. 

Alternatively, you can restrict access to your online store, offering unique content exclusively to paid subscribers who sign in. These options enable you to generate revenue, build your email list, and own your audience beyond the platform.

For instance, creator Aliza Kelly promotes her Substack and paid community subscriptions, The Constellation Club, on her trendy Instagram page.

Explore the role of a virtual assistant for an influencer

If you prefer working behind the scenes, consider becoming a virtual assistant for an Instagram influencer.

Many influencers require assistance in various areas, such as screening sponsorship requests, managing advertisements, and detecting fake followers. You can get paid by working as a virtual assistant (VA).

As a virtual assistant for an Instagram influencer, your responsibilities may encompass tasks like managing direct messages (DMs), arranging meetings, scheduling posts, and responding to comments. The influencer may also seek your input on content ideas to enhance their brand.

If you’ve always wanted to refine your Instagram marketing skills without being in the spotlight, this role provides an excellent starting point.

Venture into dropshipping

Dropshipping provides a streamlined way to operate a store without the hassle of maintaining inventory.

Upon making a sale, your supplier handles the shipment, sending the products directly from their warehouse to the customer’s doorstep. You can bid farewell to storage, packaging, or shipping logistics concerns—it’s all managed for you.

This approach closely aligns with our previous concept of generating income by marketing products on Instagram, with the vital distinction being that you won’t be required to stock inventories. 

Dropshipping lets you work and experiment with niche products with promising sales potential without the need for initial capital. You can quickly establish your dropshipping store using platforms like Shopify and leverage apps like DSers to streamline the process.

Sell pre-owned items

If you’re not an influencer but are keen to earn money on Instagram, take notice of the potential of using the platform to sell your pre-owned items. 

Whether it’s refurbished furniture, clothing you no longer wear, or vintage thrift discoveries, Instagram can serve as a means to generate supplementary income. 

You can begin by decluttering your home or exploring the vintage clothing market as a stepping stone before delving into a more extensive store setup.

Small-scale vintage resellers frequently use Instagram as a local resale hub. They encourage their followers to direct message (DM) them for purchases, subsequently arranging local deliveries. This approach offers a convenient and effective way to connect with a niche market of interested buyers.

Monetize your Instagram through art and photo sales

Despite the rise in popularity of video and various other features, Instagram’s essence remains a photo-sharing platform. This fundamental aspect offers a prime opportunity for artists and photographers to capitalize on their Instagram presence by selling prints and original artworks.

Here are a few approaches to achieve this:

  • Utilize a photo-selling marketplace such as 500px and provide links to your profiles in your Instagram bio
  • Sell your photos or artwork as originals or prints through your online store and include links in your Instagram bio
  • Use Instagram’s shopping features to sell these items directly on your Instagram profile
  • License your work on stock image websites and draw businesses and individuals to your content through Instagram
  • Collaborate with print-on-demand services like Teelaunch to print your photos or artwork on items like totes, mugs, and t-shirts. Promote these items within your Instagram content.

Image by Souvik Banerjee on Unsplash 

Transform Your Instagram Account Into a Lucrative Venture

In the digital landscape, opportunities overflow for creators to convert their online presence into a source of income. These are all possible because of the myriad tools and platforms at their disposal.

Instagram, in particular, offers a diverse range of monetization avenues, enabling influencers, creators, and artists to establish a revenue stream through the platform.

To begin monetizing your Instagram account with the strategies outlined in this article, start by crafting captivating and consistent content that resonates with your target audience. Building a devoted following that you can eventually capitalize on is best achieved through this approach. 

Develop your brand, set up an Instagram shop, and explore innovative methods to turn your Instagram presence into a profitable enterprise!

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