Instagram is a free-to-use video and picture sharing online platform, where you can show your world to your friends and followers. For the more entrepreneurial minded it can also be a great platform to make money.
Let’s have a look at the various ways to make a living off of Instagram.
Sponsored content
Collaborating with brands is one of the best ways to make money on Instagram. You can help companies to get their products and services known to a wider audience, by promoting them in single posts, a series of posts, stories or reels. For brands it is a way to coast along on the authenticity of a real person sharing real moments, something which is very hard to replicate.
And this isn’t only an option for the influencers with millions of followers, as each category of influencer has its own average per-post earnings potential.
Categories of Instagram influencers and their potential earnings per post according to the Influencer Marketing Hub:
Nano-influencers (below 1000 followers): $10 to a $100 dollars per post.
Micro-influencers (1000 – 10.000 followers): $100 to $500
Mid-tier influencers (10.000 – 100.000 followers): $500 to $5000.
Macro-influencers (100.000 – 1.000.000 followers): $5000 - $10.000
Mega-influencers (1.000.000+ followers) $10.000+ per post
Celebrities: varies, but a million dollars plus per post isn’t unheard of.
The money that can be made with each post varies not only on the number of followers, but also on the niche and type of content of the influencer and their engagement rate. If you are large enough the brands will contact you themselves. If not then you can join Instagram’s creator marketplace or reach out to the brands yourself.
Besides promoting awareness you can also persuade followers to click trackable links or use promocodes to buy the products and services you promote. The brands can pay a commission on each product or service that is sold through these links and promocodes, also making it easier for them to see which influencers are most effective.
Selling your own merch
Or you can sell your own merch like t-shirts, mugs and patches, or whatever else you can think of. There are a few ways to make and sell your own merch.
Use a fulfillment center. While they might be expensive they do save you a lot of time as they will make sure your followers receive just what they asked for and they almost always have the capacity to print on demand.
White Labeling is a way for you to sell existing products manufactured by others, which you customize with your own designs and creativity.
Or you can hand-create merch yourself, like silkscreening t-shirts with your own designs.
Badges
This option is available to influencers who have at least 10.000 followers or a business or creator account. By buying badges your followers can give you a tip during your livestreams to show you their appreciation and to help you out. Badges are available in $0.99, $1.99 and $4.99 and after applicable taxes, fees and the 30 percent cut Google and Apple receive for in-app purchases you receive most of this money.
Enable ads
By enabling ads on your reels, you receive a percentage of what the advertisers pay to show viewers an ad
Earlier this year Meta (Instagrams mother company) switched to a more performance based monetization program for showing ads on reels. The amount of money you can make is based on the number of plays your reels get and not on how much ad revenue you bring in. For now Meta is still in the process of making this more usable to advertisers and users of the platform, making sure your followers get a more consistent viewing experience with more relevant ads.
Turn your insta posts into NFTs
With MyPeople you have a new way to make money on social media. You can turn your insta posts into NFTs and sell them to your friends and followers. By pressing the mint button it’s very easy to turn your insta post into an NFT.
Step one: Know your crowd.
Who's loving your content the most? Dive into your audience and figure out who's smashing that like button, dropping comments, and sharing your stuff.
Step two: Pick your winners.
Take a deep dive into your posts and see which ones are getting all the love. Likes, comments, views — look for the heavy hitters. What's the vibe? Happy? Sad? Nostalgic? Find the common thread that ties them all together. Maybe it's a certain story you're telling or a particular emotion you're evoking. And hey, who or what's in these posts? Anything that makes 'em stand out and connects them is fair game.
Step three: Build that collection.
Once you've scoped out your winners, it's time to turn 'em into a series. Think of it like curating a gallery. You don't have to mint them all at once, but you want them to feel like they belong together. Make it collectible, make it special. Whether it's milestones, memories, or just straight-up unique moments from your life, give 'em something worth collecting.
Step four: Mint!
You've narrowed down your choices for minting, now let's take the next step.
Select the posts you want to mint, aiming for a series of at least 3 to 5. This range gives potential buyers options while keeping your collection cohesive. You want to strike a balance where there's room for bidding from low prices but avoid overwhelming potential buyers with too many options sporting zero bids. Trust me, that's a quick way to turn them off.
Consider engaging your audience in the decision-making process. Throw up a poll on Instagram and ask your followers which posts they'd like to see turned into NFTs. This not only involves them in the process but also builds anticipation for your NFT drop.
And here's a pro tip: Make your NFTs stand out with unique content. Add a personal touch, maybe a heartfelt message or a behind-the-scenes story. The more unique and personal, the better chance you have of catching those buyers' eyes.
Step five: Sell em’! !
Run the show on your Insta: Keep your audience engaged by posting about your NFT journey. Share updates, sneak peeks, and behind-the-scenes glimpses of your creative process. Make them feel like they're part of the ride.
Show appreciation: Thank your audience for their support, especially when they place bids on your NFTs. A little gratitude goes a long way in building a loyal fan base.
Keep them in the loop: Don't leave your followers hanging. Keep them informed about when you'll be dropping the next series of NFTs. Build anticipation and excitement leading up to the big reveal.
Rinse and repeat
Once you've dropped one series of NFTs, it's time to do it all over again. Keep creating, keep minting, and keep engaging with your audience. The more you put yourself out there, the more opportunities you'll have to turn those Insta posts into cold, hard cash.
