There are many guides online claiming that they will teach you how to make money on Instagram. However, most of these guides are just big blogs re-writing the same thing. You will just be wasting your team reading them. In this guide, we want to actually show you how people are making money on Instagram, and give you examples of how people are doing it.
How much money do people make on Instagram?
How much money people are making depends on what they are doing. Micro-influencers, who aren't well known celebrities, can make anywhere between $30,000 a year for starters, all the way up to $500,000 or more.
Individuals or businesses that are selling products often use Instagram as their many port of entry for new customers. Small and starter brands can easily make over $100,000 a year, whilst medium sized businesses are regularly grossing over $1 million or more.
These figures give a great indication of how much money can be made on Instagram. So, what exactly are the ways to do it?
How to Make Money on Instagram – The Two Ways
The strategy that you use depends on what kind of entity you are. There are really two ways of making money on Instagram: Promoting products as an influencer, or selling products as a brand.
As an influencer
2019 has created a huge number of millionaire influencers, and in 2020 it's only going to increase. If you are an individual and don't really have a brand or product to sell, then this will be the option for you. In fact, many companies actually have an influencer budget set aside, which they use solely for promoting their products via influencers. According to a survey by Linqui reports, 87% of marketers have set aside at least $50,000 to spend on influencers, with some setting aside over $1 million.
So, it's that's all well and good that people are making millions from being an Instagram influencer, but how can you do it too? Well, below we've created a step by step guide for getting started with earning your first paycheck as an influencer:
1. Choose a niche
You first need to pick a niche that suits you. Think very carefully about this, because the better suited you are to a niche, the more likely you are to get deals with brands to promote their products. For example, if you're an attractive girl in your 20s with a good sense for fashion, then fashion brands will be all over you once you get your profile growing. Or, if you're a car enthusiast who enjoys repairing and modifying cars, then you should centre your profile and photos around this.
2. Grow your profile
This step is where most people get stuck on and give up. If you're reading this, you most likely don't have a large Instagram following. Perhaps between 100 – 1000 followers or less. It is crucial that you grow your Instagram profile with real followers. Brands are aware that many people are getting fake followers in an attempt to trick them, and it's pretty obvious if your followers and likes are fake. So, go the honest route and earn real followers – trust us – it will help you in the long run.
So, how do you get real followers? Well, no one likes an empty profile. Start posting high quality pictures that appeal to your niche. Try and post photos that really stand out from everything else. You need to think outside the box here, photos that are so amazing that they shock people (in a positive way) are going to help you gain rapid growth. If you're just posting normal photos that everyone else is, you're going to struggle. So, post amazing photos and if they truly are exceptional, people will start sharing them, and your profile will grow on its own. Remember, likes, comments and shares are the ultimate way to grow your profile.
Tip: If you're a beginner on Instagram and have 0 followers, consider promoting your photos with Instagram ads. This will just help you gain your first 100 or so followers. After this, you can stop the ads and allow these newly acquired followers to help you grow by liking your future posts. Just make sure that the people you target with ads are interested in the niche of your profile.
3. Get noticed by companies and brands
So, you've chosen a great niche, and you've grown your profile to a good number of followers. Your profile looks full of awesome photos with lots of engagements. Now you need to start getting deals with brands. Many companues actually have scouts who are looking through Instagram to find the ideal influencers to promote their brand. However, instead of waiting, you can also speed up the process of getting a deal. Search Google for brands relating to your profile's niche and give them an email. Tell them that you're looking to promote products as an influencer. You can also include a few of your photos in the email so they can see what your profile is all about.
That's it! Many ordinary people really are making hundreds of thousands of dollars a year as influencers using the basic strategy above. Just find your niche and go for it!
The next method of making money on Instagram is by selling products. To use this method, you will need to have your own product(s) that you have ready to sell. Furthermore, you'll also need a means to accept and fulfil orders, such as a website. In order to sell your products, you will basically want to use the same method as above. Publish breathtaking photos of your products that get a lots of engagement to grow your profile to your target audience. These followers will then see all of the future posts that you publish and should eventually start purchasing your products.
This really is the best way to sell on Instagram, as you do not have to spend any money on adverts. If you aren't a huge well known brand, adverts will usually end up being too expensive to be profitable. So, the organic growth method really is your only way to succeed on Instagram.
So there you have it! You may be an individual looking to promote products for brands, or a company looking to sell their products on Instagram. Either way, this post has taught you how to do it. Now get out there and start succeeding on Instagram!