How to monetize your Instagram account in 2021
Almost everyone of us has an Instagram account, but not everyone knows how to benefit from this for themselves and their wallet. The most common mistake is that people think they only pay bloggers with a million audience. In fact, everyone can monetize Instagram. This guide will tell you how to do this.
Is it possible to monetize my Instagram account
Yes! Instagram has long ceased to be solely an entertainment and photo-sharing platform. Millions of people around the world cannot imagine their day without Instagram, and it is natural that access to such a huge audience opens up colossal opportunities for business and earnings of any format.
In recent years, Instagram has become a huge platform through which you can promote everything, from your expert knowledge to products of your own production. The most common way to monetize Instagram is through advertising. But this is far from the only way to get profit from your account. Rest assured that there is a suitable monetization option for everyone.
Who is it for
Of course, not everything is so simple – money will not fall on you immediately after creating an account. You will have to work a little before you can get the first profit. It will take a lot of time to study the features of Instagram. But in the end, you have the opportunity to get remote work, which brings not only good income, but also pleasure.
To successfully monetize an account, it must meet three basic requirements :
- be popular;
- be of high quality and thematic design;
- have at least 1000 subscribers.
Compliance with these requirements is possible only with certain knowledge and skills . In particular, those wishing to make money on Instagram will need:
- learn how to create professional photos and videos;
- be able to generate interesting and useful content;
- learn the basics of SMM in order to successfully promote your profile;
- be able to write engaging writing;
- feel your audience.
In addition, the platform is constantly being modernized and improved. Only those who know how to quickly adapt will be able to stay afloat here. Making money on Instagram is also not suitable for those who hope to make quick profits, are ready to manipulate the number of subscribers and attract cheats.
The standard way to monetize Instagram is to gather an audience and place ads on the page. But you can make money on Instagram in many other ways. Moreover, many of them can be successfully combined with each other.
Cooperation with advertisers
Instagram influencers are not only trendsetters and role models, but an advertising engine for many brands. Native advertising from bloggers has already been adopted by both small private business owners and large corporations. This is not surprising, since 70% of people admit that they consider the recommendations of influencers when buying a product.
Moreover, if earlier only bloggers with thousands and even millions of audience could make money on advertising, today advertisers are showing more and more interest in nano-, micro- and macro-influencers who have closer contact with their audience.
This is the “old-school” version of account monetization, which is as follows:
- Blogger actively maintains his page on Instagram;
- Gathers an audience of followers who trust his opinion;
- Looks for brands for cooperation and advertises their products / services to their subscribers.
This monetization option can be called simple. After all, in-account advertising can appear several times a week, and advertisers themselves often go to influencers and offer them cooperation. The minimum bid for one ad post is $ 10, but according to polls of influencers, they get an average of $ 200-400 per post.
Naturally, in this matter, everything depends on the number of the audience and its quality, which is determined by quite clear metrics, such as the rate of growth of subscribers and a set of likes, activity in the account and many other factors. The trendHERO analytics service allows you to check this data. It even shows you fancied followers, which you will never find in the built-in Instagram statistics.
Become a brand ambassador
A brand ambassador is an affiliate of a company who promotes its products and services. This is an unofficial brand representative, a person who actively uses the services of the company and promotes it to the masses.
Ambassadorship differs from the previous version in that the influencer does not place direct advertising with calls to buy a specific product. He simply demonstrates his love for the brand by frequently posting content with various products of the company and even attending various events dedicated to it.
It is not enough to have just a promoted account in this case. Ambassadors are people who share the same values as the brand, and are indeed its active adherents. Therefore, if you have a favorite brand, you can send a direct message to company representatives, explaining why you can be its ambassador and offering your services.
Conditions for brand ambassadors are individual. In many ways, they depend on the size of the brand and the popularity of the influencer. This can be a contract with an agreed payment, a personal discount, or an affiliate discount that allows you to receive interest on sales.
Earnings on affiliate programs
In many companies and online stores, affiliate programs have been implemented, with the help of which you can receive certain interest on purchases of attracted users. Usually, to participate in an affiliate program, you need to submit an application on the company’s official website or join an affiliate network like Admitad and get your referral link or personal promo code.
Instagram account in this case acts as a platform for posting links. Here you can conduct reviews of various partner products, inform customers about discounts and promotional offers, demonstrate products in action, show your purchases, and thereby motivate them to buy. For every purchase made through an affiliate link or promotional code, you will receive a reward stipulated by the program.
Success depends on how correctly the affiliate program was selected. It is important that the audience of your account is really interested in the company’s products.
You should carefully study the conditions of the programs. Real money is not always offered as a reward, which, for example, can be withdrawn to a card. Sometimes affiliate programs offer bonuses that can only be spent within the service.
Selling your own products
Instagram allows everyone to start their own e-commerce business effortlessly. You can easily turn your account into a small online store to sell anything – soap, candles and handmade jewelry, gift boxes, cups and T-shirts with your own prints. Any of your hobbies and hobbies can be monetized with an Instagram account. There are no restrictions.
You can create not a personal Instagram account, but a thematic community or interest group. Promotion of such an account is a laborious process, but if everything works out, you will be able to receive a stable income by applying many methods of monetization at once – advertising posts, affiliate programs, selling webinars, master classes, goods.
Dropshipping is a form of sales in which you do not need to purchase goods, store or ship them. The seller only collects orders and payments, and the manufacturing company independently ships the goods to customers. Dropshippers make money on the difference between the cost of the goods offered by the supplier and the selling price.
You will be surprised, but today not only clothes, cosmetics and all kinds of hand-made products are successfully sold through Instagram, but also business goods, vouchers, cars. Therefore, many dropshippers use Instagram accounts as their main source of sales.
The platform’s functionality makes it easy to turn a page into a colorful catalog. In addition, here you can forge a close connection with the audience, which also contributes to sales. But you can’t do without high-quality shots here, because there is nothing worse than low-quality shots in an account designed to sell.
Selling your knowledge
In the modern world, useful information is the most valuable. If you are an expert in any field with valuable knowledge and skills, you can teach others how to make money by turning your Instagram account into a powerful marketing tool.
This can be anything from Skype math lessons to a tax-paying webinar or purse selection. Given the huge audience of Instagram, you can be sure that a person with certain competencies and skills will be able to find someone who needs them here. Some even manage to submit checklists.
Monetization is possible through book sales, webinar access, consulting, coaching, tutoring, and more. An Instagram page can serve not only as a sales platform, but also as a tool for building an expert’s reputation.
Earnings on services
Thousands of new commercial accounts are registered on Instagram every year. And many of these companies are looking for an intelligent specialist who can help to properly design and promote a profile.
If you have been blogging for a long time, you know well how Instagram algorithms work, and what you need to do to become successful, you can turn your profile into a business card and sell your promotion services.
Usually, companies want to find a full-service SMM specialist:
- page decoration;
- content planning;
- creating quality content;
- attracting subscribers.
But there is a demand for specific services. For example, creating templates for Instagram, designing a profile, creating AR masks and much more.
How to Monetize Instagram
Instagram monetization is available in many ways, and each of them has its own characteristics. But the strategy for reaching the first profit is the same for everyone.
Step 1: create an account
Create an account on the most popular social network and properly register it. Choose a nickname that will reflect the theme of your page, choose a bright and memorable avatar, fill out a biography.
It is important that when they first look at your profile, users understand how valuable it is. If you want, you can transfer your page to a business account. This will open up some additional features.
Step 2: choose your niche
Choose a topic for your account in accordance with your knowledge and hobbies. For example, if you travel often, you can become a travel blogger, and if you are well versed in the intricacies of personal care or makeup, you can become a beauty blogger. There are many options:
- beauty and health;
- business and entrepreneurship;
- family and children;
To decide on a niche, think about what you can do well, what you can tell us useful and what people will be willing to pay you for.
Step 3: Create Quality Content
An empty page cannot be monetized. Create high-quality, unique and useful content for your target audience. Regular posting plays a decisive role in promoting Instagram, so be sure to make a content plan for several weeks / months in advance.
Publish 1-2 times a day. Use different content formats – feed posts, stories, live broadcasts. Experiment with your content until you figure out what your audience likes best.
Step 4: Promote Your Account
To quickly gather an audience, you need to use various promotion methods. Among the most common are:
Coming to the Instagram business, you must understand that promoting your account will become your constant necessity. Ultimately, how many subscribers you have and how they interact with your audience will determine how much you earn.
When to enable monetization
It all depends on which monetization option you have chosen. Some methods suggest that you can start monetizing right away. For example, if you plan to sell your products or do dropshipping. But in most cases, you first need to collect a loyal audience on your page and build a trusting relationship with it.
You can proceed to making money on affiliate programs, selling goods and services when you are sure that there are users among your subscribers who trust your opinion and are ready to follow you. Advertisers are mainly interested in bloggers with 1000+ subscribers. For some, the minimum threshold for advertising is 10-100 thousand followers.
Before proposing advertising cooperation to someone, be sure to check your account statistics. Today, one of the main criteria when choosing an influencer is the percentage of engagement.
How much you can earn
The amount of income directly depends on the chosen direction and the success of its implementation. For example, the cost of placing advertisements directly depends on the popularity of the blogger, the number of subscribers and the activity of the audience. On average, an account with 10-15 thousand followers is able to bring in about $ 200 per month for advertising.
But there may be more. For example, brands are willing to pay more for a clearly segmented active audience or long-term collaboration. It is also important how much services the blogger provides. Can he come up with and create quality content himself? Will there be just a promotional post or also a story?
As for making money on sales, everything here decides how successful the actions of the account owner will be and what persuasion skills he possesses.
Instagram monetization is not easy. Before you can get the first profit, you will have to go through the thorny path of promoting your profile, thoroughly study the algorithms and basics of SMM, and discover the makings of a photographer and editor. But this is a good option for creative individuals, for those who do not want to vegetate in the office and want to earn money with only a smartphone at hand.