How to Monetize Instagram (Even If You Have a Small Following)
Believe it or not, roughly 1% to 2% of creators make their full-time income off Instagram. I know, I know. Those low numbers can make it seem impossible to break through, but don’t freak out! Monetizing your Instagram isn’t impossible, you just need to know how to be strategic.
IG is notorious for being one of the lower paying social apps, which means having a follower count and high engagement isn’t enough to break the bank. This is also why most full-time creators monetize their Instagram in more than one way.
Here are our favorite ways to make money on Instagram:
- In-app Monetization
- Brand Partnerships
- User-Generated Content (UGC)
- Affiliate Marketing
- Selling Products & Services
How to Monetize Instagram and Make Money Doing What You Love
1. Monetize IG by becoming an Instagram Creator
Starting out with the obvious, you can monetize Instagram by becoming an Instagram creator. Rumor has it that Instagram itself doesn’t pay its creators very well, but there are still a few ways to make some extra cash online.
Instagram Subscriptions
If you meet the qualifications, you can offer exclusive subscriptions to your followers on Instagram, giving them access to private lives, stories, chats and posts. Creators can set their own prices ranging from $0.99 to $99.99 per month. One thing to note is that while Meta takes 0% commission, Apple and Google deduct roughly 30% for mobile in-app purchases.
Eligibility: Have a professional account, be 18+ years old, reside in an eligible country, have 10k followers, and meet partner monetization and content monetization policies.
Instagram Gifts
Instagram Gifts allow your fans to show support by sending you virtual gifts on Reels. Followers (or non-followers) can purchase “Stars” and send them to eligible creators when they watch a Reel that they like. Each star is $0.01, and the minimum payout is around $25.
Eligibility: Have a professional account, be 18+ years old, reside in an eligible country, have 500+ followers, and meet partner monetization and content monetization policies.
Instagram Badges
Instagram Badges allow your viewers to offer financial support by purchasing a badge during live streams. Badges can be purchased for $0.99, $1.99 or $4.99. Once purchased, they will receive a heart icon next to their name when leaving comments on live.
Eligibility: Have a professional account, be 18+ years old, reside in an eligible country, have 10k+ followers, and meet partner monetization and content monetization policies.
Creator Marketplace
Creator Marketplace allows IG creators and brands to connect and collaborate on paid partnerships and campaigns. Once approved, creators can set up a portfolio that lists their interests, preferred partners and showcases their best work. Brands, on the other hand, can browse thousands of like-minded creators by filtering profiles by demographics, niche and follower size.
Eligibility: Have a professional and public account, be 18+ years old, reside in an eligible country, have 1,000+ followers, and meet partner monetization and content monetization policies.
2. Brand Partnerships
When you hear about Influencers who make a living off social media, I’m talkin’ $50,000 or more for a single IG post, most of them are referring to brand partnerships.
When you partner with a brand, you’re essentially striking a deal with someone who has a similar audience base and wants you to promote their product or service to your loyal following.
Typically speaking, brands will reach out to you directly with an offer, but don’t be afraid to shoot your shot! If you’ve got a brand you’ve been loyal to for years or that you’ve dreamed of working with, it never hurts to ask if they’d like to work with you.
Partnerships look different for everyone, with some being long-term deals or one-time gigs. Most brands will pay cash, but it’s not uncommon for brands to ask for PR trades. Either way is great; just remember that PR trades can quickly become taxable income.
3. Offering User-Generated Content (UGC)
Unlike influencers with brand partnerships, UGC creators are paid to create content (photos or videos) for a brand. Since UGC creators typically don’t share the content with their own followers, you can easily become a UGC creator regardless of your following size. You may not even have to show your face!
If you are thinking about becoming a UGC creator, the best thing you can do is build a portfolio and start reaching out to brands that you’d like to work with. Some things to be mindful of are copyright ownership (especially if you use sound in your Reels) and informal or no contracts. Terms should include how the video should be used (ads or organic) and clearly outline indemnification.
4. Affiliate Marketing
The best way to do affiliate marketing is to promote products you’ve used or currently use in exchange for commission.
Typically speaking, the more expensive a product or service is, the higher the commission. For example, Amazon affiliate programs pay creators between 1% and 20% depending on the category, meaning your commission could be as low as a few pennies or more than $100.
Other affiliate programs offer flat-rate commissions, such as $150 for each customer who signs up for a service using your link or referral code.
Affiliates can make anywhere from $0 to $100,000 or more per month depending on your skill, experience, traffic and niche.
Pro tip: Focus on creating genuine and authentic content that doesn’t feel like an icky sales pitch. Trust. You’ll make more money this way. And always use SEO optimization to ensure you’re targeting the right peeps.
5. Selling Digital Products or Services
Lastly, you can make money on Instagram through selling digital products or services. Instagram is a great marketing tool where you can create organic posts and reels to promote your offers and drive people to your website to make a purchase.
Depending on your business, that could mean selling courses, templates, guides, memberships, workshops, coaching, consulting, or other products and services. The key is creating content that attracts the right audience and naturally connecting what they’re already coming to you for with something they can buy.
And you don’t necessarily need a full website to get started. Third-party platforms like Linktree or Stan Store can give you a simple place to send followers from your bio, making it easier for them to learn more about your offers and purchase from you.
Instagram monetization starts with having the right strategy
The bottom line is monetizing your social media requires a sh*t ton of strategy, because what works for one brand might not work for another.
Start by getting clear on what you’re offering (physical product, service or just a new perspective), who you’re trying to reach, and which monetization methods make sense for your brand and audience. You may also want to run a competitive analysis to figure out what’s already working for brands like yours.
From there, you can build a content strategy that will grow your audience and give them a reason to invest in your business and become part of your world.
Not sure what that strategy should look like for your brand? Apply to work with the Do Epic Sh*t Media team and let’s get you paid!