When there are more eyeballs, there is a high chance of monetization. You can be a food vlogger, fashion influencer, baker, filmmaker, photographer, or any other content creator, Instagram monetization is possible.
Instagram is one of the growing social media platforms in 2022. Undoubtedly the number of creators and the content on this platform is increasing exponentially.
If you have worked hard in creating content on this platform and have a decent number of followers, then there is good news for you. Instagram is making multiple ways to monetize your account. Some are in the testing phase and even if you are a newbie creator or in the idea of creating an account, still you are a new bird to avail the early offer
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7 ways to make money on Instagram
Monetization on Instagram is possible through the following 7 ways,
Collaborate with brands
This is the most popular method of making money on social media platforms. You can make deals with brands for posting their products in your post, story, feed, reels, or in any combination.
You must have observed popular creators making sponsored posts on promoting other businesses. With more options like reels, the brand promotion has become creative and authentic. Your voice and opinion are unique to your followers.
It is also the easiest way to make money on this platform. You can proactively reach out to brands to sign up for a deal.
Eligibility Criteria:
- In the story or feed, a “paid partnership label” must be used for any sponsored or free product.
- There are no specific guidelines for follower count. However, having 10,000 followers is considered good for brand deals.
Explore Affiliate Marketing Program
Affiliate marketing is providing a link to purchase a product. In this way, you get a commission whenever a purchase is made through the link.
Instagram allows you to add affiliate links to add in stories. It is in the testing phase and will soon be available to all creators.
Eligibility Criteria:
- You have to comply with Instagram content guidelines and monetization policies.
- You have to add a hashtag like #ad or mention “I get a commission when purchased through this link”.
Instagram offers Live Badges
Instagram allows you to add badges to your live stream. Your followers can purchase badges to support your work during live videos. Once you have enabled this feature, it will be added to all your live videos. These batches are available in US dollars.
To enable this feature, go to your profile à Professional dashboard. Then click on Badges and turn that on. Then you can connect that with your bank account or using PayPal. This feature is currently in testing phase.
Eligibility Criteria:
- You must be in the US
- Must have a business account with more than 10K followers.
- You have to comply with Instagram content guidelines and monetization policies.
Enable ads on Reels
Reels monetization is possible now. Instagram was offering in-stream video ads on Instagram known as IGTV ads. Brands can run ads before, during, or after the video.
Now, reels are trending on Instagram. So, Instagram introduced a new ad revenue share program for reels in 2022. Soon, you can make money on Instagram through reels monetization.
Eligibility Criteria:
- Currently, this feature is under development.
Enable Subscriptions
Through subscriptions, your followers will pay some money to access exclusive content in your account. This feature is already available on platforms like Facebook and YouTube.
This is a good opportunity if you have followers for a specific niche and you can create content consistently. It can be good monthly revenue.
Eligibility Criteria:
- Currently, this feature is under development.
Instagram Shopping
If you are an e-commerce business owner, then you can use Instagram to attract customers. You can create a business account exclusively for your product and create content around it.
You can add your customer’s testimonials and reviews to gain trust from your existing followers. Add your site link to direct them to the website. Even if you don’t have a website, you can encourage them to connect through DM to close the sales.
Create and sell products
Do you have any special skills like cooking, baking, designing, or organizing? Do you know to make handmade decors? Are you good at counselling? Are you good at being productive or managing time?
Whatever your skill sets, there will always be a set of people to follow your content. You can create a course or create a digital product and sell it to your followers.
Instagram has planned to include multiple features as the traffic on this platform is growing steadily. So, monetization on Instagram is not far away from future. The only thing creator has to make sure is to create quality content consistently and nurture a good community.
Hope you find this article useful.
