How to Make Money on Instagram [+5 Simple Ways]

You can be sure that somewhere out there, folks like us are making big money on Instagram. Turns out, making money on Instagram is easier than you’d think, for the simple reason that there are so many ways to do it. In this article, you’ll find a few of the most popular options and different ways to make money on Instagram, with some methods that are easy and some that require a bit more experience. A common question people have when they ask themselves about earning opportunities on Instagram is – how many Instagram followers do you need to make money? The answer is 10,000 and up, but not in all the cases. With all these different ways to make money, you don’t need millions of followers to try these 5 techniques.

Some Things You Need to Do to Start Earning on Instagram

Despite how simple it may sound, you do need particular skills to start earning money on Instagram. Before you get started, it’s important you skim through these very basic elements that can help you along the way.

Exceptional bio with the wise use of the link;
Post regularly and engage with people;
Make the most of Stories in creative ways;
Use only relevant hashtags;
High-quality content and consistency;
Find ways to stand out with your content;
Experiment with video;
Build relationships with influencers and brands

5 Ways to Make Money on Instagram in 2020

1. Selling shoutouts and sponsored content

Selling shoutouts is basically a paid promo. Perhaps you’ve gotten a DM with an offer from a person or a brand offering to pay you to post something on your account. If you have a thematic account that would be of interest and value for brands, they may even reach out to you directly like this once you have your account on the radar. This type of promo helps other businesses grow their following by leveraging your audience. One thing that does get in the way, is the need for at least 10,000 followers on your page. The average cost of a sponsored post is about $300 but this varies depending on your followers and expertise. Even smaller accounts with about 1,000 followers that can still add value to a brand, can start earning money with sponsored content. At the end of this article, we did a breakdown of average earnings per post depending on how many followers you have.

2. Set up an online store

A different way to make money on Instagram that you can do all on your own is to set up an online store to sell physical goods (some people even market digital services). Do you sell merchandise? Crafts? Paintings? Photography? Nowadays you can sell anything on Instagram if you have your own business or a hobby. This is perhaps the easiest option that requires a few technicalities with the online shopping setup on Instagram. Surveys suggest that a surprising number of Instagram users buy products they discover on Instagram directly. To cover the basics, you can create Instagram stories with product links with your online store, build a shoppable Instagram feed, and include a link in your bio, which is the only clickable one if you have a smaller account. Consistency is key with this method of making money on Instagram because it requires a lot of planning and the logistics of delivery if you have physical products to sell.

3. Selling Instagram accounts

This technique is mainly used by people that have experience with growing a large following very quickly. What you can do is buy other accounts for low, work on the audience and add value to it, and resell it to make a profit from the difference. Beware of scammers if you want to look into this method and we recommend you do a bit more research to start. You can expect a high payout if you have quality, niche accounts. There are people that make a living doing this alone! Of course, it requires a lot of expertise as growing audiences and constantly posting quality content is time-consuming and a job in itself if you have multiple accounts.

4. Growing niche, themed accounts

Some people specialize in growing Instagram accounts and there are people out there that will gladly pay for this as a separate service. You can find a niche such as travel, lifestyle, or food, and work towards making them popular. This does not necessarily mean growing a large following, but making them trendy enough to also add value. If you have the necessary skills for this, then you can pair it with selling those themed accounts. Then you can sell the account on specialist forums or websites, with others that will be jumping at the opportunity to pay good money for a stable account with a strong following.

5. Client management on Instagram

If you are skilled in automating accounts to grow them with real followers, you can work with clients to help them in this regard. You can also manage content, ads, and influencer programs for brands that outsource these specializations. You don’t need many clients to make good money either. Social media management is in high demand. Two or three clients per month can bring in really good money. There are plenty of free online tools on the market that can help you create professional freelance invoices for your photography business. If you have in-depth knowledge on marketing, all the better. You can even earn with this freelance gig by offering your services on websites like Upwork. The more experience you have, the more likely it is that you’ll secure more clients if you have a few success stories with other accounts to back up your experience.

How Much Money Influencers Earn on Instagram

Generally, influencers can be split into three categories: micro-influencers, middle-tier influencers, and top-tier influencers. As you’ve guessed by now, some make much more than others.

The first group (less than 10,000 followers): prices can vary between $80-$100 for a post with your account.
The second group (a higher number of followers, about 10,000 – 100,000): earnings can be about $200 or slightly more per post.
The third group (can range from 100,000 followers to millions): can be paid above $600 for a single post. The prices really differ for the last group.

Curious about how much your account can earn per post? See this influencer earnings calculator.

A Few More Ways to Make Money on Instagram

If you don’t see yourself testing these ways to make money on Instagram, here are a few more that you can look into. Some people manage to become brand ambassadors and get paid by brands, some promote affiliate links on their accounts, designers create visuals and even masks and filters, others help with social media management, copywriting, and other types of content creation. You can use skills in any of these areas to offer services to clients that are in such high demand today. Lastly, the key factors that will help you greatly in your endeavors with making money on Instagram is understanding the platform in and out, focusing on quality, posting regularly, and having a real, loyal following with stable projected growth. This is what will help you make use of your skills to start looking into ways to generate income on Instagram.