Do you want to earn passive income on Instagram? If you are looking for ways to boost your revenue with Social media, keep reading this article!
With the number of Instagram app installations on the rise and the social media app boasting about 500 million users daily, as reported by backlinko.com, it is no wonder Instagram has become a go-to option for aspiring content creators, businesses, and influencers alike.
Added to that is the owner, Mark Zuckerberg’s declaration sometime back to make Instagram the best platform for helping creators make money. The beauty of the social media platform is that you can have a smaller following to generate income.
Also, you don’t need to be directly involved in an activity but can pursue it as a hobby while earning bucks sitting at home or being a spectator.
Interestingly, that is precisely what we will discuss thoroughly in the article. In other words, we shall highlight different ways of earning passive income on Instagram.
As against active income, passive income is the earning acquired through minimum efforts. For instance, you don’t need to devote a fixed number of hours or put in sustained efforts to earn money passively. Thus, passive income is the recurring income stream without requiring daily work.
If we take the example of an influencer, it is possible to earn multiple times through videos recorded once, which is the best example of earning passive income on Instagram.
For instance, if you want to make money by selling educational or skills-training courses, you can offer recorded versions of the course or program. Thus, you can have a regular income stream through a task performed once.
Likewise, there are multiple ways to mint money through Instagram, a perfect marketing platform. Some methods include sponsored posts, affiliate marketing, brand collaborations, reel bonuses, and selling your products and content.
There are several ways to make money on Instagram:
- Sponsored posts
- Become an Instagram creator
- Start a shop
- Start promoting affiliate links
- Promote your blog/YouTube channel
- Teach what you know
- Advertise your brand
Below, we will show you each method in depth. According to your follower count and availability, you can pick a strategy.
Next Read: Reels are becoming more popular than ever; Instagram Algorithm is promoting Reels more than a normal post; if you want to make money from Reels, we have curated methods to make money from Instagram reels: Legit Ways to Make Money from Instagram Reels.
Becoming an influencer on Instagram is one of the lucrative ways to mint money.
As well known, an influencer acquires a reputation for sharing exciting posts and videos about a particular activity. Due to their expertise in the field, they earn recognition for passing on credible information or opinion. However, you need several thousand followers at least to make an impact.
For that, you must begin posting pictures or videos relating to your interest areas, reflecting your personality.
People especially appreciate it when you post authentic content. Once you build a following, brands will approach you, whereby you need to make a sponsored post on Instagram with a link or hashtag promoting the specific brand and share it on your page.
The brand pays you for that.
Also, it is not enough to have many followers if your posts don’t have a high engagement rate. It’s essential to have active followers who regularly like and comment on your posts. Fewer followers but a high engagement rate can help you make more money on Instagram.
Aside from partnering with brands to create sponsored posts, you can also monetize your content, made possible through a Creator Fund program. The program enables you to earn money in the following ways:
Instagram videos are an excellent option for earning revenue. Sometime back, Instagram switched from IGTV ads to Instagram Videos, combining feed videos and IGTV. It allows you to upload videos in the way you did before. Instagram Videos can be enabled by clicking on a tab.
Instagram Videos have merits that include newer features such as trimming and filtering. At the same time, it also allows for location and people tagging.
With the introduction of these videos, previews can last for 60 seconds if there is no ad. If the video accompanies an ad, its preview remains for 15 seconds. So now, instead of IGTV ads, videos can help you earn via Instagram In-stream ads.
For instance, you could post pictures and videos of rare species, share videos of entertaining sites you visit, give a tour of your workplace, or share a video showcasing your product or service.
Becoming a creator or influencer on Instagram is not limited to offering inspirational or entertaining stuff via your posts or videos. It also encompasses building a solid relationship with followers.
Instagram gives you an opportunity for monetization, even if you prefer to go live, in the form of live badges. Live Badges help you gauge your follower support since it is a form of ‘tip’ depicted as a heart.
These badges range from $.99 to $4.99, available in three packages. When a viewer buys a badge, it appears as a heart next to their username during the live stream.
How to Enable Live Badges?
To enable Live Badges, click on Professional Dashboard once you access your profile and activate Instagram monetization. After you receive the approval, tap Set Up Badges.
Then you can begin broadcasting live while informing your viewers about the feature. Also, thanking your supporters when they purchase badges might only prompt them to show their encouragement further.
Bonus Programs is another option to mint money on Instagram. The programs aim to reward you for meeting several targets, which could be doing a particular number of live broadcasts or sharing a specified number of reels on Instagram.
Once you achieve the target, you become eligible for rewards only through invitation.
For instance, one of the Bonus Programs is Reels Play, which rewards you depending on the number of your reel plays. Thus, the greater the number of plays, the better your income.
You can quickly learn about the number of plays through your professional dashboard and withdraw your earnings when they reach $100. Currently, it is only available for creators in the US, and that too through invitation. If you are invited, you get a notification and an invitation on the professional dashboard.
Instagram offers another feasible way to earn revenue: setting up an Instagram shop. An Instagram Shop is similar to an online store, with the difference here it is available on an app.
Its modus operandi can best be explained through the slogan post, tag, and sell introduced by them. Once you are done creating the shop on the app, you have to post pictures of the product and add its description and price, which the followers can check out on the app itself.
You can also share the products and their details via the Stories, Explore, and Shop tabs. At the same time, you can also share the website link on your Instagram bio, providing more details.
To set up an Instagram Shop, you need to convert the account into a business one and link your Facebook page to it. Then you need to add a product catalog and do the account review. Once you are done with it, you can activate Shopping.
Affiliate marketing is like sharing sponsored posts for brands as an influencer, with the difference that you get paid when people buy the product or service.
You get paid for sponsored posts even if it doesn’t result in selling a product or service, but affiliate marketing is about converting prospective buyers. You get a commission when your promotional post or video for a brand or service results in a sale.
However, you can earn a lot more by becoming an affiliate. Affiliate marketing focuses on selling others’ products, thus ridding you of the worries of stocking or shipping the products.
The number of sales can be gauged through e-coupon codes or links. In addition, it allows you to choose the product you wish to market. You can do so by joining an affiliate program, whereby you come in touch with a brand, market its product or services, and get paid if it is bought.
Some of them can be listed below:
Amazon Associates is an affiliate program launched by Amazon, where you can choose from a wide range of products to market.
It offers other merits like ease of access to the audience, a wide array of high-quality products that can be easier to sell, and quick approval. You can sign up for the program without any hassles and are required to have 500 followers.
You don’t need to own a website and can be rewarded up to 10% on every sale you make.
To learn more about the Amazon affiliate program, visit this page.
$This is an affiliate link
Rakuten affiliate program, like Amazon, offers a wide array of products you can choose from. It provides active consumers while allowing you to promote self-products with a good return. The platform is available in about 200 countries and works best for larger businesses.
Clickbank is comparatively easier to use because it is easier to sign up with less screening than others. In addition, the platform is available for digital products exclusively, offering you the flexibility to promote the products based on payment. Also, you get pocket commissions of up to 75%.
$This is an affiliate link
Instagram is beneficial for boosting your existing business or promoting your blog/vlog. That can be done by sharing the link to the website, blog, or vlog on your Instagram bio, driving more traffic to the business.
Following are a few examples of how it can help you generate more traffic:
- If you are a seasoned chef or just an aspiring one, you can share the link to your YouTube channel or the website on your Instagram bio with a detailed recipe for the food you posted on your Instagram page. As a result, your YT videos will also begin getting more views.
- If you own a fashion brand, you can post the link to your website with more details about the products you share on Instagram.
- Travel enthusiasts can share the blog link where they post detailed articles from their trips to different places while posting snippets of their adventures on Instagram.
An exciting way to make passive income on Instagram is to coach your followers if you are an expert in any field. Your area of expertise could be any, including language proficiency, fitness training, marketing, graphic designing, or yoga. Unlike selling physical products, you market a skill or information about a field here.
For instance, you could offer some free classes at first, giving your followers an idea of the course, which, if they find it helpful, they might be tempted to enroll for the entire course. Another way could be offering free tutorials and requesting viewers or followers to tip you by sharing a link on your bio.
Instagram is an excellent platform to boost sales for your existing products or businesses. According to a survey, 80% of people spotted and bought new products and services via Instagram.
Therefore, it provides a beautiful way of marketing products and services by improving the visibility of your business. However, apart from showcasing your products, you also need to build a following, which you can do by using industry-related hashtags or geotags to focus on followers from a particular area.
Also, you could link with similar accounts to access a wider audience interested in similar products or services. A more significant number of followers will result in higher sales but also keep in mind that you post standard images and videos.
Now, let’s look at a few frequently asked questions.
Although a higher follower count might help you earn more on Instagram, what matters more is your follower engagement.
For instance, if you have followers of several thousand only, but they actively respond to your posts through likes, comments, etc., you are more likely to make money. However, there may be a case where you may have a high follower count, but they aren’t active.
In such a case, they are less likely to go for your products or services.
It depends on the number of engaged followers you have. According to influenco.co, an Instagram account with more than a million followers could earn a minimum of $1000 for a post.
However, you can make enough money even as a micro-influencer. For instance, you are entitled to 55% of the ad revenue for each IGTV video view. According to a study, an influencer with 1-25 K followers could make somewhere between $10-100, while those with 25-75K followers could earn from $100-300, and so on.
It might be possible to make money on Instagram even if you don’t have any followers on your Instagram account if you share posts related to your product or service using the right hashtags.
However, the chances are slim since viewers might be unwilling to buy when they notice zero followers on your account.
Some examples of Instagram posts or stories could be sharing quotes or inspirational messages if you want to keep posting regularly. You could also create posts related to the holidays or festivals or go for the unofficial ones like Rose Day, Popcorn Day, etc.
It could also relate to what’s happening worldwide or in your country, like political events, current affairs, etc.
Instagram has only gained in popularity, with more and more people switching to it to become creators or promote their existing businesses. Thus, with the social media platform introducing newer and more effective ways of earning, you can only gain from monetizing your account.
As you can see in this guide, there are several ways to make money through the platform. Some of them need a little work, while others are entirely efficient. You can pick an option according to your preferences.
We hope you have found this article helpful and enjoyed reading it. For more similar posts, feel free to check out our blog archive.
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