Are you interested in earning money on Instagram but not sure how to start? We’ve got you covered.
Although people first think of influencer marketing, that’s not Instagram’s sole monetization opportunity. In this article, we’ll dive into the current features the social app offers.
Although monetization on the platform can involve promoting products and/or services to increase sales, that’s not what it always looks like. With monetization, the focus is on the content whereas selling focuses on the products/services.
While YouTube is seen as the OG monetization platform for content creators, Instagram is making its way up there.
But as we’ll cover later on, that’s only one way to make money on the app. Before we get into those, let’s review monetization requirements.
Ever since Instagram transitioned to a creator-focused platform, they have tested numerous monetization tools. Some end up staying on the platform while others are sunsetted.
For instance, in June 2021, Instagram announced that it would test an affiliate program, in which creators could have their own Shop tab and earn commissions based on sales they influenced.
After over a year of testing, the platform announced that it would no longer be available after August 2022.
Another monetization tool was Reels ads, a move designed to encourage creators to post more Reels. It allowed them to earn money via ads displayed before and/or after their Reels. That has seemingly been replaced by the bonus play program (more on that later.)
Here’s a list of the monetization tools available or being tested on the platform:
Each monetization practice will have its own set of requirements, but there are general policies set by Instagram for any creator who wants to earn money on the app.
You cannot earn money on Instagram if you share:
Becoming an influencer is the most popular way to make money on Instagram and from the marketers’ perspective, it’s one of the main ways they work with creators.
According to HubSpot research, 64% of marketers said they work with micro-influencers (those with 10K to 99K followers) when asked about their 2022 influencer marketing campaigns, and 57% work with macro-influencers (100K-999K).
The great news is that even if you have a smaller follower count, you can still be an influencer. 27% of marketers we surveyed say they worked with nano influencers (1K-9K) in 2022.
How much can you earn? The limit does not exist.
To be an influencer, there are no set requirements. Here’s what you should aim for:
To encourage creators to post Reels, Instagram launched a bonus program, which rewards users based on how often they post Reels and how they perform.
The program is currently only invite-only and as such, isn’t available to all users just yet. It’s also not available in all languages. However, if it does become a permanent feature, additional tools will be added.
If you have been invited to participate, you will receive a pop-up notification that will lead to your professional dashboard. From there, you’ll have to activate it before your eligibility expires.
That involves agreeing to Instagram’s terms and conditions and then adding your business information and payout details. Note that you will get your payout once you’re earned at least $100.
From there, all that’s left to do is create your Reels.
To qualify for the program, you must:
Love going live with your audience on Instagram? Now is your chance to earn money while doing it.
When you go live, viewers can buy badges ranging from $0.99 to $4.99 and support the creators they love – up to $250 worth of badges per Live video. The best part is that as of September 2022, creators keep $100 of their revenue from badges received.
Here are the steps to set your account up:
Here’s how it works: Creators can launch a paid subscription, priced at their discretion, which gives their followers access to exclusive content, such as posts, Lives, Stories, Chats, and Reels.
It allows creators to build a more intimate community and share content with their most loyal followers.
Here’s how you get started:
From there, you can set your pricing, keep track of your earnings, set up your payout details, and more.
According to app researcher and developer Alessandro Paluzzi, the tool would allow followers to send gifts to their favorite followers. This tipping feature is similar to Badges but seems like it would be on Reels and potentially Stories, whereas Badges are limited to Lives.
While this tool isn’t yet tested with creators, it’s good to stay on top of upcoming features that could earn you money on the app.
As you can see, you can do much more than collaborate with brands on Instagram to earn money.
Before you jump on any opportunity, your first step should be producing high-quality content that appeals to your audience – that will set you up to be eligible next time Instagram’s looking for creators to test monetization tools.