Hark, whether thou art a brand or a content creator, lo, there exist vast treasures to be found on the realm of social media. Learneth now how to procure riches on Instagram in the year of our Lord, 2024.
One of the most wondrous marvels of social media is its ability to bestow upon people the means to earneth a living online, and to granteth businesses the power to flourish and bring forth revenue. Yet, there doth exist a myriad of techniques that can assist users in amassing even greater wealth online.
And thus, we are presenteth here—to aid thee in maximizing the potential of thine Instagram revenue, whether thou dost manage a business or a creator account.
We have gathered together 11 money-making strategies so that thou mayest embark upon thy journey of profiting from Instagram, even on this very day.
Canst thou make money on Instagram?
Verily, I do declare with resounding affirmation—aye.
Indeed, some of the mightiest luminaries such as Selena Gomez, as well as creators on Instagram, can harvest millions of dollars from a solitary Instagram post. However, even micro influencers can garner hundreds to thousands of dollars per post.
Aiding creators in sustaining themselves upon the platform hath been a priority of utmost importance for Instagram, particularly as the arena grows more fierce with competition from TikTok, Snapchat, and YouTube. (If thou dost seek further knowledge on how to make money on social media, peruse our guide.)
In the previous year, Instagram hath stood as the second-most downloaded app in the entire world. It doth rank as the fourth most-visited website globally, the fourth most-used social media platform, and doth possess 1.65 billion users each month.
All this doth signify: that’s an audience of vast proportions. With a gargantuan and diverse array of individuals who mayhap wouldst be exposed to thy content, there dost exist plentiful opportunities to earn money on Instagram.
Psstt: Shouldst thou seek further Instagram statistics—for those peculiar Instagram-related trivia questions—thou shalt discover 35 of them here.
How to make money on Instagram: 11 ways to amass riches
Being present, active, and engaging on Instagram (and staying abreast of trends) is one of the prime methods for achieving success upon the platform in 2024—and collecting some coinage whilst thou dost partake in such endeavors.
This is how both brands and influencers can utilize Instagram to reap the rewards.
Create an Instagram store
Who may use this: Brands and creators
Erecting an Instagram Shop doth present a splendid means to generate money directly through the app. Brands and creators alike can incorporate products that users can purchase directly from the app through Instagram’s native e-commerce tools.
Instagram Shops art a friend to impulse buyers. Thy shop shall be linked directly from thy profile, yet thou may also link thy products within thy posts so they shall be displayed in thy followers’ news feeds alongside regular posts.
Forming an Instagram Shop is also a noble way to offer nimble customer service to individuals who dost utilize social media (exceeding 5 billion). Customers may direct message thee or comment on posts to glean further knowledge about thy brand.
Hint: if thou doth feel overwhelmed in thy direct messages, ponder employing a chatbot to bolster thy customer service team. Furthermore, we shall address how chatbots may aid in further monetizing thy Instagram later in this post as well.
Upon posting an item with a purchasable commodity, a small shop icon materializeth on the post, informing viewers that it is ready for purchase.
And once thy shop is established and active, it shall be accessible through the diminutive Shop button at the apex of thy Instagram profile, even as follows:
Users may click upon it to chance upon all the products thou hast listed and peruse through the available selection.
Tag products in shoppable Instagram posts
Who may use this: Brands and creators
After establishing thy Instagram Shop, thou shalt desire to promote the products thou dost vend frequently. The most efficacious way to accomplish this is through crafting and scheduling shoppable Instagram photos, videos, and carousel posts alongside all thy other social media content.
As aforementioned, shoppable posts art denoted in thy feed with a minute shopping bag icon in the upper right corner. Should thou feature a product within the photo, thou may effortlessly tag it so interested buyers may purchase with merely a couple of clicks—and without ever departing from the app.
And let me tell thee, once a user hath input their purchasing information (e.g., card number and shipping address), the act of procurement becometh all too facile upon the platform.
Products art taggable in both photos and videos. In an image post, the product may be tagged in a particular location within the image, even as follows:
In a video or Reel, the product shall simply be affixed to the post so that any intrigued individual may tap the shopping bag icon and discover the linked product information, even as exemplified here:
- Open thy Moyens I/O dashboard and journey to Composer.
- Beneath Publish to, select an Instagram Business profile.
- Upload thy media (up to 10 images or videos) and inscribe out thy caption.
- Within the preview on the right, select Tag products. The tagging process is slightly distinct for videos and images:
- Images: Elect a spot in the image, and then seek out and select an item in thy product catalog. Repeat for up to 5 tags in the same image. Select Done when thou hast finished tagging.
- Videos: A catalog search shall promptly appear. Seek out and select all the products thou dost wish to tag in the video.
- Choose Post now or Schedule for later. Shouldst thou decide to schedule thy post, thou shalt encounter suggestions for the optimal times to publish thy content for superior engagement.
Promote special offers
Who may use this: Brands and creators
The denizens of the online world art enamored with a good deal (who among us is not inclined to such enticements?), and Instagram users dost delight in making purchases: 35% of all Instagram users shall engage in purchases upon the app this year.
Wherefore not avail thyself of Instagram to showcase all the grand attributes of thy company—particularly, whenever thou partake in a sale. Not only doth announcing thy sale, promo code, or special offer on Instagram acquaint thy followers with a sale, but it also renders the information effortlessly shareable.
Behold, a magnificent instance of what such a post may resemble:
Set up a chatbot
Who may use this: Brands and creators
One facile manner in which to furnish splendid customer service and engender sales through direct messages is to implement an Instagram chatbot.
A chatbot is integrated directly into thy Instagram account and website and may answer any frequently asked questions from thy followers. Should the query be too intricate for the conversational AI chatbot, then it shall automatically transfer the inquiry to a living member of thy team.
And how might a chatbot aid thee in earning on Instagram? Simple!
An Instagram chatbot may suggest products in thy shop directly to thy customers within the chat, thereby facilitating swifter and more streamlined sales.
Suppose a customer inquires about the shades of foundation thou dost possess in stock; the chatbot may offer three options that the user may swiftly add to their cart without ever vacating the platform.
Thou may also utilize a chatbot to automatically dispatch direct message links to products, lead magnets, or service pages. Numerous creators dost employ this method to link products to followers who request them.
For instance, a creator doth share a video showcasing a product they adore (or one they are being remunerated to promote—more on this matter later) and scribes in the caption, “Comment with ‘keyword’ to obtain the product link!”
They dost use a chatbot that is configured to automatically dispatch a message containing the product link to anyone who comments with that keyword. Since links dispatched in messages art clickable, this be a splendid method to circumvent the inability to share links within a caption or comment.
Moreover, this can aid thee in generating even more sales. Creators may utilize this method with sponsored products or to profit from affiliate marketing, whilst brands may utilize this with products not present in their Instagram shop, with lead magnets to construct their email list, or with service pages to enhance customer enrollments.
Behold this post showcasing this tactic in action:
Partner with creators
Who may use this: Brands
Forming alliances with influencers, also known as influencer marketing, doth enable thee to introduce thy company to the audience of the creator (and affords the creator a moment in the spotlight for thy audience—it verily be a mutually beneficial arrangement).
When thou art perusing influencers with whom to associate, it be imperative to pay heed to their content and values. Thou dost desire a person with objectives that mirror thine own so that the collaboration resonates with customers and doth not appear as a bizarre marketing scheme.
For instance, this partnership betwixt a book influencer on Instagram and audiobook software Audible doth make perfect sense:
Strive to collaborate with creators who art inclined to try and/or appreciate thy products—they shall be much more enthusiastic about the collaboration and sharing thy product or service with their audience.
Thou may offer the creator money, goods, or an affiliate deal in exchange for showcasing thy company.
Collaborate with brands
Who may use this: Brands and creators
We hath afore covered how brands may partner with creators, so it should astonish thee not that the reverse be a splendid manner for creators to accumulate wealth—by allying with brands. However, brands may also reach vaster audiences and garner more sales by aligning with other complementary brands.
One splendid way to collaborate with other brands be by hosting a collective giveaway. Witness this example of what such a collaboration may resemble—pet camera company Furbo hath forged a partnership with pet supply company Springer Pets to conduct a giveaway of products from both brands:
Whilst both brands dwell within the pet industry, they art not direct competitors, rendering the collaboration a masterpiece.
The reason brands may desire to ally with each other be to introduce themselves to novel, yet pertinent, audiences, expanding their potential customer base and leading to additional sales.
Now, let us discourse upon how this may operate for creators, particularly for the reason that partnering with brands be perchance the most renowned method for creators and influencers to earn money on Instagram.
Discover a small or sizeable brand that aligns with thy values—that aspect is of significance. Forming an alliance with a brand that hath naught to do with thy usual content, or even starkly contradicts thy usual content, shalt render thee appear disingenuous.
Brand deals may assume multiple forms. For instance, thou may be compensated to craft an Instagram post that highlights a specific product, or thou may be tendered free products in exchange for content.
Behold this prime example of what such a collaboration may resemble:
Pro tip: When engaging in a paid partnership or sponsored post, display transparency. Utilize hashtags, designate the post as sponsored content, and be explicit about the collaboration in thy captions. Failing to adhere to Instagram’s branded content guidelines may result in posts being removed.
Use Instagram ads
Who may use this: Brands
The basics endure. Advertising on Instagram is one of the methods by which thou may make money on the platform and indeed monitor thy progress. Thou may transmute any post into an ad by boosting it, and thy Instagram analytics shall disclose the difference the boost hath wrought.
Thou may also tag thy products within thy ads, facilitating the utilization of thy ads directly to generate sales. Behold this shoppable Instagram ad:
Create a subscription
Who may use this: Creators
Instagram subscriptions doth offer a fresh manner in which to usher in an additional revenue stream through thy Instagram account. Shouldst thou oversee a creator account, thou may concoct a paid subscription providing premium content to thy paid subscribers.
It be akin to Patreon, yet wholly upon Instagram.
This be a magnificent way to offer things like:
- Exclusive chats with thee
- Q&As
- One-on-one assistance
- Paid tutorials or masterclasses
- Workshops
- Exclusive content
Upon devising and selecting the perks that thou shalt offer in exchange for payment via thy subscription, a Subscribe button shall manifest at the apex of thy Instagram profile.
Users may click to ascertain the cost of a subscription (thou may select increments betwixt $0.99-99.99/month) and the perks they shall receive by subscribing.
It shall appear thus:
Depending on what thou dost include, thou may charge more for thy subscription. For instance, shouldst thou plan to offer monthly masterclasses, thou may get away with a $24.99/month price point. Or, shouldst thou wish to merely provide additional content, a $4.99/month subscription may be more apt.
Go live to earn badges
Who may use this: Creators
For creators in the U.S., Instagram’s live badges represent a manner in which to make money directly through the app. During a live video, viewers may procure badges (available in $0.99, $1.99, and $4.99 increments) to exhibit their support.
To activate live badges, journey to thy Profile and tap Professional Dashboard. Then enable Instagram monetization. Upon approval, a button entitled Set Up Badges shalt manifest. Tap that, include an account for direct deposit, and thou art prepared!
Shouldst thou activate live badges, announce it when thou dost go live (remind thy followers that should they wish to exhibit their support with money, it be a simple task!) and express gratitude when someone purchases a badge.
Saying thank you doth travel a lengthy path and shall likely encourage others to contribute as well.
Become an affiliate
Who may use this: Creators
This tactic is linked with brand partnerships, as joining an affiliate program still requires connecting thyself to a business that sells specific products or experiences.
Affiliate programs essentially recompense thee for marketing other people’s products (thus thou wish to ensure the products thou dost spotlight align with thy values). Should thy followers acquire something from a brand through thy referral—usually utilizing a particular link or discount code—thou shalt receive payment.
This be the perfect manner in which to implement that chatbot hack we discussed earlier. Witness how the following influencer shares a keyword for interested buyers to comment and receive a link directly to the product—which likely be an affiliate link!
Link to thy website
Who may use this: Brands and creators
Besides direct messages, thy bio be the singular location thou may share links. However, in 2023, Instagram augmented the number of bio links from one to five—which be thrilling but may still be constraining.
This be where link-in-bio tools enter the fray, permitting thee to craft a micro landing page for thy Instagram bio link. Thus, thou may utilize the other links for thy other social media platforms.
Utilize thy link-in-bio to link to:
- Thy main website
- Specific product or service pages
- Blog posts
- Affiliate products
- And more
This may be a splendid manner in which to escalate traffic to thy website, boost ad revenue, or assist thee in making more sales.
How to make money on Instagram FAQ
How many followers doth one need on Instagram to make money?
Whilst thou may commence implementing many of these tactics immediately after creating thy account, others necessitate a substantial follower base.
Instagram’s Partner Monetization Policies doth not specify a set threshold, yet t doth declare, “Creators and publishers must have an authentic, established presence on Instagram from Meta. This also includes maintaining a sufficient follower base.”
We recommend expanding thy Instagram account to 500-1,000 active and engaged followers ere applying to Instagram-hosted monetization features.
How many views dost one need on Instagram to make money?
The greater the views thy content garners, the more probable thou art to achieve sales and the more money thou may request when dealing with brand sponsorships. However, once more, there be no set threshold or view-to-income ratio.
How doth one receive payment on Instagram?
There exist numerous manners in which to make money on Instagram, from establishing an online shop and vending products or merchandise to creating subscriptions, promoting special offers, and so much more.
This treatise doth expound upon 11 tactics for securing payment via Instagram.
Get Started
