It doesn’t matter if your Instagram following is small or large, you can still learn how to make money on Instagram regardless of the size. One of the most important factors is your account’s engagement rate.
With high audience engagement, you’ll have the potential to make money from 7 different avenues on Instagram. This is a great opportunity for all sizes of influencers to make money online.
7 Direct Ways On How To Make Money On Instagram (2023)
1. Monetize Videos
You can make money from Instagram videos fairly easily. Enable monetization for in-stream video ads in your Instagram’s settings and then just post your videos.
The amount you earn will depend on how many times your video shows up in the feeds of people who are viewing it. You’ll earn 55% of the revenue generated per view, according to the Instagram for Business website.
You have to have videos that are at least 2 minutes long to start earning money on Instagram. The platform also recommends that the video be between 2 and 4 minutes in length.
2. Earn Badges From Live Streams
You can get paid by your audience when you share live videos on Instagram’s live feature. This lets you showcase your talents, products, and more to them while viewers buy badges, which are tips in the form of virtual currency to show support. Badges range from $0.00 to $4.99.
Make sure to promote your live stream even before it starts, by tweeting or posting a story on Instagram. The more you can engage with your followers, the better odds of earning badges.
3. Sponsored Posts
Sponsored stories or posts are the primary way people can monetize their Instagram accounts. For example, if you constantly post pictures of cars, then a car manufacturer may be interested in paying you to post about their new car model.
There are agencies you can work with directly, as well as services to help you manage your partner relationships. Marketplaces connect you with many partners and other companies offer a service to help manage these relationships.
You can directly find companies to do brand deals, but sometimes the agencies make the process a lot easier.
4. Promote Your Shop
There are plenty of ways to use Instagram to make money. Business accounts on sites like Etsy or Shopify can get you sales from Instagram. For example, if you’re a seller on Etsy who’s looking to promote their handmade crafts, social media could be your best bet. Similarly, for restaurant owners with a blog that gets donations from ad revenue-sharing companies like AdSense, Instagram will come in handy.
You can list your shop on your Instagram bio. Also, when your account qualifies, you’ll be able to share links on your stories directly to your product pages.
5. Use Affiliate Programs
Amazon’s Affiliate program has the potential to be one of the best methods to make money on Instagram. For example, if your niche is about home storage, then you can use Amazon links to drive your follower’s to Amazon.
From there, if any of them make any purchases on Amazon, regardless if it’s the product you linked, you’ll earn a percentage from that sale.
Their affiliate program is extremely viable to make money on Instagram. There’s a reason why it’s the biggest affiliate program in the world.
6. Drive Traffic To Your Blog
This is one of our favorite methods to make money on Instagram. If you have a blog (which you should), you can funnel your followers to your website. With Google Adsense or any other ad platform, you’ll get paid for users viewing and clicking on ads from your website.
Not only that, you’ll be able to leverage your website to earn money in various different ways as well.
7. Flip Items
If you often sell your old clothes and accessories on sites like Poshmark, then Instagram can be a great way to tap into a whole new market of buyers.
You’ll want to make sure you take vibrant and professional-looking photos of the items that you sell. This will boost the chance that you’ll be able to make a sell.
If you’re out of things that you can sell from your closet, then we recommend you buy cheap items from garage sales. This is an extremely viable method to make decent money from Instagram.
With all this information now learned, you should be able to start monetizing your Instagram account. These methods will work for micro-influencers up to top tier influencers.
If you’re interested in learning about other ways on earning money online, check out this article on 13 Side Hustles That Don’t Require Startup Costs.