How to Monetize Instagram: 8 Monetization Strategies (2024)

You don’t have to be famous to make money on Instagram. You don’t need to be an attractive ski jumper, travel the world in a custom purple Gulfstream, or even have a matching Borzoi puppy. All you need is an audience. In fact, the golden rule of monetization is that you make money from your Instagram followers, not your Instagram presence.

If you have a loyal Instagram following, you can start making money right away using these eight popular monetization methods – celebrity status optional. If you’re still in the building phase, they can help you clarify your end goals, understand what a profitable audience looks like, and get inspired to build meaningful relationships with your fans.

How to monetize Instagram

There are many ways to make money on Instagram—from selling crocheted hats to reviewing contemporary novels to providing live Oscar commentary. Here are some options to get you started:

Become an affiliate marketer

Affiliate marketing is a performance-based marketing strategy in which brands pay creators (or affiliates) based on specific customer behavior for their activities, such as purchasing a product or visiting the brand’s online store. Here’s how it works:

1. Brands distribute trackable links to Instagram creators.

2. Creators paste the affiliate link directly into their Instagram Bios (or use bio link tool).

3. Creators publish Instagram Stories, Reels, or other content types to promote the brand and direct viewers to affiliate links.

4. The act of brands paying creators compensation for their unique links.

If you create high-quality Instagram content, you can apply for individual companies’ affiliate programs. You can also join an affiliate network, a platform that helps creators and brands connect. Networks like the Shopify Affiliate Program give affiliate marketers access to various affiliate programs, making it easier to compare commission rates and judge brand fit.

Become an influencer

Influencer marketing differs from affiliate marketing in that creators make money through brand-sponsored events, not just as a result of those events. Instagram creators can make money through content such as sponsored posts, Reels, and Stories. Instagram calls sponsored content “branded content” Required to disclose From the creator.

Successful Instagram influencers create high-quality content and have large followings and high engagement rates. Many companies charge based on how many Instagram followers they have and how engaged those followers are.

If you already meet these criteria, great: Build an impactful media kit. Then, reach out to the companies you work with and look for people in your network who might need your services or might know people who might need your services. If you don’t, then choose a profitable niche where you are uniquely positioned to provide value. Instagram is filled with pet influencers, fashion influencers, and fitness influencers, so if you have expertise in a less competitive field, such as accounting or asset management software, choose this option. Then build your following by creating and publishing high-quality content and engaging with your audience on the platform.

Promote your media empire

You can use Instagram to generate interest for your other money-making ventures, such as a subscription-only podcast or newsletter, paid online courses, or a personalized menu planning service. Posting content clips, previews, promos, and behind-the-scenes footage to your Instagram account can increase brand awareness and attract new customers.

Instagram can also increase the ad revenue generated by your own website. You’ll create a website, publish blog posts, articles, product reviews, or other content types, sell ad space, and direct traffic from your Instagram page to a monetized website.

Sell ​​on Instagram

Many creators sell digital or physical products through Instagram stores. Consider offering a curated selection of products alongside your own merchandise: for example, if you’re Insta-famous for your mochi pancakes, you could sell aprons emblazoned with your Mochi-Mama personal brand, a selection of the finest rice noodles , frying pans and spatulas, and a digital compilation of your favorite recipes.

YouTube star MrBeast sells branded merchandise and products including skateboards, footballs and pencils on his website Instagram and through his Shopify support e-commerce store. Sellers can use product tags to promote items in their Instagram feed and adjust permissions to allow other creators to tag their items so Instagram users can purchase them without leaving the app. You can use Shopify’s Instagram shopping Integrate to sync product catalogs and streamline the sales process.

Drive traffic to your online store

You can also sell physical or digital products or branded merchandise from your own online store, using Instagram to increase awareness among your target audience, build customer relationships, increase loyalty, and direct traffic to your e-commerce storefront. One example is German van life influencer @hdlontour who uses Instagram to promote their brand but only sells products through their website online store.

Pay via Instagram

Instagram pays bonuses to select creators who create and share Instagram Reels, carousels, and single image posts. Instagram Incentive plan It’s by invitation only, you need a business or creator account to qualify. Once a creator activates an invitation, Instagram will track plays and views on up to 150 pieces of content until the invitation window ends. The more plays and views a creator’s content receives, the greater the bonus.

Instagram’s incentive program is currently being tested in the United States, South Korea and Japan, and the platform has not revealed selection criteria. If you’re interested, upgrade to Enterprise or Creator Count and check out the platform’s Partner Monetization Policy Ensure compliance and monitor your professional dashboard for invitations.

Meta, the parent company of Instagram, is also testing ad-based monetization features on Instagram and Facebook. Instagram plans to place image and video ads in profiles and reels, inviting select creators Enable advertising and start earning income.

Earn Instagram badges

If you have a business or creator account, you can make money by enabling the badge feature on your Instagram profile and hosting live videos. Live viewers can purchase badges for 99 cents, $1.99, or $4.99, and creators can earn 100% of badge income Less applicable taxes (including Google or Apple’s 30% discount on in-app purchases).

Badges allow your most loyal fans to express their appreciation and support for your work. To maximize your revenue, focus on building authentic relationships with your fans and providing real value to your followers. Reply to follower comments on your Instagram posts and direct messages, shout out contributors during Instagram Live, and create content your Instagram audience can’t get for free.

Selling Subscriptions

Instagram Subscribe Allows users with a Creator or Business account to offer exclusive content to paying subscribers, including subscriber-only Lives, Stories, Badges, Posts, Reels, Social Channels, and Broadcast Channels. To enable Instagram feeds, select “Turn on feeds” from the creator dashboard. Like Badges, Instagram distributes 100% of the revenue to creators after taxes and Google and Apple’s in-platform purchase fees.

Many subscription content creators take a two-pronged approach, releasing a portion of their content for free to drive interest and awareness, and reserving a portion for paying subscribers. You might start by offering 100% of your content for free and gradually move to a subscription model once you build a large enough audience.