How much money can you make on Instagram?
The answer to that question is more complicated than you’d think.
While there are plenty of stories out there about Instagrammers who are always raking in cash, not everyone can earn a fortune from pictures of their pooch, or snaps of their lunch. Just like famous bloggers, vloggers, and artists, you’re going to need a strategy if you want to succeed.
The good news? Instagram has a lot to offer for those who know how to use it.
There are more than 1 billion active users on Instagram, and many of the biggest earners on the channel thrive because they know how to connect with their audience. If you can learn how to build an Instagram account that’s dripping in reach and influence, you can benefit from all the financial advantages that IG has to offer.
Here’s your guide to earning on Instagram.
The Truth about Instagram Accounts: Is Bigger Better?
Size often counts when it comes to social media influence.
If you’re wondering how much money you can make on Instagram, you’ll need to start by figuring out how big your account needs to be to make a real impact. This means working out the number of followers you need to attract to monetize your profile.
Instagram is growing as a reputable profession these days, with companies pumping plenty of new cash into the space every year. By 2020, Mediakix believes that Instagram will be worth around $10 billion from an advertiser’s perspective.
Fortunately for smaller brands and profiles, you don’t necessarily need to be a substantial celebratory to earn your share of the benefits. The number of followers you’ll need will depend on:
- Which industry you’re in (Fashion, beauty, fitness, and food are the top-earning industries today)
- Which revenue-building opportunities you consider (sponsorship, affiliate, photo selling, etc.)
- How engaged your followers are.
Although some of the top Instagrammers are making millions per post on their photo-sharing profiles, even those with smaller follower counts of under 200,000 fans can earn some serious cash. Just look at the big earners behind Where’s My Office Now, for instance. Emily and Corey are making some serious cash with only 181k in followers because they generate more loyalty and engagement among their fans than many larger influencers.
How Much Money Can You Make on Instagram? The Basics
Before you can start calculating how much money you can earn on Instagram with apps like this one, you’re going to need to figure out which factors affect your earning potential.
For instance, Huda Katten is a beauty influencer on Instagram that managed to make a fortune through her Instagram profile. She started with influencer campaigns and sponsored posts, but now she also makes money from her own beauty line.
The answer to “How much cash can you make on Instagram?” often depends on what you do. For instance, if you have a few thousand followers and you’re offering sponsored posts, you might start off charging just $50 per post. On the other hand, if you have more than 100,000 followers, the prices for a sponsored post can reach around $1,000 and above. Kim Kardashian West has over 100 million followers and charges about $500,000 for her sponsored pieces.
Alternatively, if you have a highly engaged Instagram following, you can find other ways to turn that engagement into cash. For instance, an engaged audience might be willing to purchase your products if you decide to launch your own business. They’ve got to know you as a person, which means that they’ll be more likely to trust the items you sell when you branch into eCommerce.
Your audience may also be more likely to listen if you ask them to check out a product that you’re earning cash from through affiliate marketing.
Here are some of the ways you can expand your earning potential on Instagram.
Become an Influencer and Create Sponsored Posts
The easiest way to start making your fortune with Instagram is to use engagement and reach to become an influencer. Crucially, you’ll need to choose a specific industry that you want to have influence in. For instance, you can’t be a fitness influencer and also post about the best fattening sweet treats in the industry.
Earning credibility as an influencer takes time and focus. You’ll need to decide what kind of space you have the most knowledge in, so you can deliver genuine value through your Instagram content in the form of:
- Engaging How-to videos
- Inspiring posts
- Impressive Q&A interviews
- Motivating Stories
However, once you’ve started to develop a good reputation, then your influencer status will open new doors for you in the Instagram earning world. Brands are frequently partnering with influencers today to help spread the word about their products and services. They know that their customers are more likely to listen to influences than brands, so they’ll rely on you to improve their standing in a specific market.
The key to earning cash as an influencer is making sure that you collaborate with the right companies. To do this, you’ll need to start by getting to know your audience – figure out what kind of content your followers expect to see from you. For instance, followers of Lizabeth Lopez don’t expect to see her posting things about the latest tech brands or calorie-rich diets. She’s a fitness influencer, so they hope her to connect with brands like Nike and Adidas.
Knowing your audience before you start looking for sponsorship opportunities will ensure that you don’t damage your reputation by trying to become a jack of all trades. At the same time, it ensures that you develop your brand image even further by connecting with the right companies so that you can charge more in the long term.
Sell Your Instagram Photos as an Artist
When it comes to answering the question: “How much money can you make on Instagram?” it’s important to remember that not everyone is a born influencer. You might not have the time or the insight to connect with customers through sponsored posts alone. However, you still have opportunities to make cash if you have an eye for beautiful things.
Instagram isn’t just a place where people connect with friends and emerging celebrities. It’s also an environment that visitors turn to for visual inspiration. If you’ve always considered yourself to be a semi-professional photographer, then you could still sell your photos to brands.
Today’s companies know that the brain responds to images better than it does to text. Visuals are processed in the human mind 60,000 times faster than text. With blogs, reports, and countless other content to publish, businesses are always looking for great images they can invest in. The standard stock photos are rarely enough for bigger organizations.
If you’ve got a stunning image to sell, then you could make some serious money. Just imagine the earning potential an image like this from @NatGeo would have with a travel business, for instance:
Sites like Foap.com will help you to sell your images from Instagram online. However, keep in mind that these channels will take a portion of your profits. The quicker you can establish yourself as a photographer and begin building a website where you can sell images directly, the better off you’ll be.
3. Launch a New Business
Speaking of establishing yourself online, you can do this through Instagram with any business – not just a photography company. Many of the most famous influencers in the world today have continued to expand on their earning potential by investing in eCommerce. There are many beauty and fitness profiles in particular that have spun out into fully-functional commercial brands.
Once you’ve earned a reputation for being a thought leader in a specific space, it’s easier than you might think to start selling things related to your niche. All you need to do is set up an eCommerce website to get started. You don’t even need to do all of your business marketing by yourself either. Tools like Kenji.AI can use artificial intelligence to ensure that you’re sending as many followers to your products as possible each day.
Running your store takes quite a bit of time and focus. However, it’s an excellent way to earn cash if you really know your way around your sector. Additionally, you can even cut costs by getting started with a Dropshipping brand, so you don’t have to pay for a warehouse and product manufacturing up-front.
With things like shoppable stickers and tags appearing on Instagram today, the opportunities for retailers are continually growing. Just look at what Huda Katten achieved when she took her Instagram efforts to the next level.
4. Sell Products as an Affiliate
If developing and selling your own products seems like too much work for you to handle right now – there’s always an alternative. You’ve probably heard about affiliate marketing before today as it’s one of the easiest ways to get started in the eCommerce world. With affiliate marketing, you can make money by selling other people’s products through an affiliate program.
Whenever you link to someone else’s items and improve their profit margins. As a result, you earn something too. It’s harder to make your fortune on Instagram as an affiliate as it would be to make money as an influencer using sponsored posts. However, affiliate marketing also requires less work too. You’ll need to create engaging posts still, but you don’t have to work as hard at steadily building your audience.
Unfortunately, since you can only have a single link on your Instagram bio at any given time, your earning potential is somewhat limited. You might need to include a landing page in your affiliate link where you can send people to multiple products from the same page.
Although there are challenges to Instagram affiliate marketing, it’s also an excellent opportunity for people who want to start small and expand.
5. Sell Your Instagram Account
One final answer to the question of “How much money can you make on Instagram?” comes from considering whether you could benefit from selling your account. If you have spent a few months building a desirable following through your Instagram channel, but you’re tired of the pressure that comes with continually designing new posts, you can sell your profile off to someone else, and start again from scratch.
Websites like Fame Swap help companies to find Instagrammers who are willing to spend their time building accounts that already have engagement online. You can earn thousands for the right profile, but it’s worth noting that it does take a significant amount of work to build an account that people genuinely want to buy.
Once you’ve put all the time and effort into creating the ultimate account, it can be challenging to let go and sell it to someone else.
How Much Money Can You Make on Instagram?
The answer to “how much money can you make on Instagram?” varies depending on several factors. Your earning potential will be affected by your niche, the work you want to do with your Instagram account, and more.
One thing that seems inevitable is that engagement is a goldmine for Instagram users. If you can tap into genuine engagement from a selection of connected and dedicated customers, then your money-making potential is sure to go through the roof. This applies whether you’ve decided to become an influencer, an affiliate marketer, or you want to launch your own business.
The more time and effort you spend on developing strong relationships with your target audience, the more valuable your Instagram profile will become. What’s more, you’re bound to get better at whatever earning solution you use the more you work on it.
How would you like to earn money on Instagram this year? Let us know in the comments below!