In 2014, making money on social media was a feat for a select few people like travel creator Gabby Beckford (@packslight), who made $2,000 for six Instagram posts in the same year. It wasn’t a viable path for most creators — and there weren’t many options in the first place.
Fast-forward a decade, and the landscape of creator monetization has changed completely. Now, it’s not only possible to supplement your regular income with content creation but to dwarf it entirely.
Gabby makes hundreds of thousands of dollars from her content, netting nearly $300,000 in 2023. Top Instagram influencers reported earning as much as $92,000 per post (on the low end) and as much as $2,000,000.
Perhaps more importantly, though, there’s now a diverse range of options for those looking to make money on Instagram and other social media platforms — and you don’t need millions of followers to do it.
Whether you have 3,000 or 300,000 followers, you can monetize your Instagram with the right strategy. Knowing how many Instagram followers you have is crucial for monetization, as earnings from sponsored posts are often tied to follower count and engagement rates. And this might be where your next monetization idea comes from. Let’s get into it.
At a glance: 8 ways to make money on Instagram
Jump to a section:
1. Partner with brands on sponsored content
There’s no way you’ve scrolled through your Instagram feed without coming across a sponsored post. Sponsored content — also known as influencer marketing — is a cornerstone of Instagram monetization — influencers and creators get the financial benefits of working with brands, and brands get access to highly engaged followers.
Partnerships come in all shapes and sizes, but the most successful ones always have some common threads. If you’re looking into a paid partnership, having a dedicated Instagram page to showcase your offerings is crucial. Here are some of those things to consider:
- Alignment with your niche and values: Authenticity is key when it comes to sponsored content. Your followers trust your recommendations, so partnering with brands that resonate with your target audience is essential. Joy Ofodu has set rules for working with brands: only family-friendly stuff. This helps her keep her boundaries with brands around the type of sponsored content she’s willing to share.
- Seamless, not slimy: The most effective sponsorships feels natural and non-intrusive. Instead of simply showcasing a product, create content seamlessly incorporating the brand’s offerings into your usual style and aesthetic.
Career and finance creator Chloe Shih (@chloe.shih) partners with various finance-focused brands to share advice with her audience. Her existing organic content fits seamlessly with the branded content, so seeing these sponsored posts in the mix never feels jarring.
Creator-brand partnerships are always evolving, especially laws and standards evolve. It can be hard to keep up with all the advice out there, but here are some tips you can immediately implement in your partnership negotiations:
- Know your worth: Understanding your value as a content creator is crucial when negotiating sponsored content deals. Consider factors such as your follower count, engagement rate, and the quality of your content. Don’t be afraid to set your own limits and turn down offers that don’t align with your goals or compensate you fairly for your work.
- Research industry standards: To ensure you’re charging a fair price for your sponsored content, research what other influencers in your niche with similar follower counts are charging. This will give you a better understanding of industry standards and help you negotiate more effectively with brands.
- Understand your audience: Your audience is your most valuable asset as a creator. Before partnering with a brand, analyze your audience demographics, interests, and engagement patterns. This information will help you select the most relevant brand partnerships and demonstrate your value to potential collaborators.
- Seek legal advice: As sponsored content becomes more prevalent, protecting yourself legally is essential. Consider consulting with a lawyer specializing in influencer marketing to review your contracts and ensure you’re not agreeing to unfavorable terms. A legal professional can also advise you on disclosing sponsored content to comply with FTC guidelines and maintain transparency with your audience.
It’s important to note that all branded content must be disclosed using the paid partnership label in Feed, Stories, Live, Reels, and Instagram videos.
2. Livestream and earn Badges from fans
Instagram Live has become an increasingly popular way for creators to connect with their audience in real-time, share authentic moments, and build a stronger sense of community.
With Instagram Live Badges, creators now have the opportunity to monetize their live content and earn direct support from their most dedicated fans. The Instagram app is essential for functionalities like setting up Live Badges.
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