Instagram is fastest growing social media platform. On average, a user spends 53 minutes in the application. With tremendous engagement, companies are ready to invest a reasonable amount of their marketing budget into the platform. Instagram is no longer just a photo-sharing app, it’s now a great platform to monetize viewers.
People on the way to becoming an influencer wonder which bar you should reach before you start making money on Instagram. We answered all the questions they were wondering about in our article. Continue reading to get the answer.
How Many Followers Do You Need To Start Earning?
Well, there’s no definitive answer to this. To earn money, the number of followers can be between 1000 and one million. Some experts have set the seal at 1800 to 2000, but you can also make money with at least 1000 followers. Only users with a higher follower count have a higher chance of finding brand sponsorship.
Engagement rate is the most important thing to make money on Instagram. Higher engagement on posts means better brand sponsorships and connections. When the audience trusts you, selling your products will be a five finger job. Before sponsoring companies, build an active audience that likes to engage with your posts.
How To Make Money On Instagram
If you have good content and an engaging audience, making some money is an easy task. The main ways influencers monetize their followers include:
This is the most common way to earn money from your account. The key requirement is to have a good follower count and good engagement with your posts. Captiv8, a social media analyst, estimates brands can spend up to $255 million per month on sponsored posts on Instagram. This shows just how lucrative a sponsored post on Instagram can be.
However, before you can attract some relevant brands, you need to work hard. Initially, you need to create an audience and for that you need to post engaging content and engage with the audience. Share pictures and organically make an impact. Before you start posting sponsored content, you need to gain the trust of your audience. The golden rule is to stay true to your audience and never criticize a brand.
Along with sponsored posts, affiliate marketing is also a great way to earn a few dollars for every item sold. You can earn money only if a follower buys the product using your link or code. Unlike the above technique, this one requires strategy and cleverness. You should be good at convincing the audience to buy the affiliate’s product.
The seller usually provides you with a specific link or a unique promo code with a discount. Later, these links and codes can be used to track your sales. For every sale you earn a decent amount of money. That said, many retailers run a scam in the name of affiliate marketing. So, pay attention to the brand and check it before connecting.
Promoting Their Own Products
The third takes technical effort, but can be very profitable. Instagram is the perfect place for users who want to sell something without owning an e-commerce store. Use the platform to sell your own instead of promoting other people’s products. If you already have a business, selling your products on Instagram is a great social media marketing strategy.
This is the only monetization technique where a large follower count is not a must. Simply submit images and write persuasive headlines to entice the user to purchase your product. You can start your own website to increase sales or use an e-commerce platform like Shopify and Zazzle to generate traffic from Instagram.
In these few years, Instagram has become a powerful marketing tool due to its high engagement rates. It is the perfect platform for making money online. There is no numerical threshold that must be crossed in order to start generating income. A high follower count combined with a reasonable engagement rate can attract more important and better brands.