How to Make Money on Instagram in 2020 (Whether You Have 1K or 100K Followers)

You don't need hundreds of thousands of

followers

to

make

money

on Instagram, according to Buffer. Influencers with 10,000

followers

or less are getting the best results for companies, so if you've ever thought maybe I can do that too, you probably can if you want to represent your own brand or a partner's brand on Today's video is about how you can

make

money

on Instagram. Hi, I'm Michelle Valley and I'm a creative strategist. Instagram strategy is my thing. I

have

helped over a hundred small businesses grow. and monetize your Instagram account, so in today's video I'm going to share some knowledge.

Let's get started. I will answer five of the most frequently asked questions. How many followers do you need to make money on Instagram? How much do influencers really earn? What are the best ways you can start making money on Instagram? How do you know how much to charge as an influencer and how do you start partnering with brands? How many followers do you need to start making money on Instagram? Well, it's not. As many as you might think, here are some ballpark figures, according to a recent study. Micro-influencers or accounts with 10,000 or fewer followers will earn around $88 per post.

Mid-level influencers or accounts with between ten thousand and one hundred thousand followers will charge around two hundred dollars per post, high-level influencers or influencers with one hundred thousand or one million followers can charge around $670 per post, however They can charge a lot more when you get to this level, the numbers tend to vary, the reason these numbers are not is set in stone because there are a few factors that come into play. The niche you are in will define how much competition you will face and how much money you could make. Some very profitable but also very competitive niches are fitness. beauty, health, business and travel, if you're not trying to compete you can always dominate a very specific corner of Instagram, so for example nicole mclaughlin remixes clothes and turns them into works of art and has close to half a million followers .

The position will depend on how engaged your followers are. The reason for this is that brands want to see a return on investment, so if you

have

a hundred thousand fake followers you won't be able to provide any real value to brands. Keep in mind that it is not just the size and reach of your Instagram account that brands want, but also the trust and engagement of your audience with your content, this is because it provides access to a full niche audience. of potential customers and this is something that brands need and are willing to do. pay for now, let's take a look at how much money you can really make in any industry and in any job, there is a range of what you can really make in my experience, there are no hard and fast rules, but you're probably looking for a concrete number. so at least I can say that marketers are willing to pay a penny per follower, so let's say you have 5000 followers and you could potentially charge fifty dollars per post again.

This is just a guide. Influencer Matt Crump shared his pricing guide with later.com. What he said is that the price will depend on creative mandates, schedule, production costs and usage rates. Now, if you're wondering what the best Instagrammers make, it's a lot, they can make thousands and thousands of dollars from the content they create, but let this keep you motivated. As you grow your account and let it be something you can aspire to, okay, let's brainstorm some ways you can make money on Instagram. You can work with brands on sponsored posts. You can become an affiliate.

You can open your own online store or you can. all of these things at once, so let's start with the most common approach: you could charge brands a fee for sponsored content in your feed or stories. Together you will come to an agreement on exclusivity, the amount of content you produce, the wording you are using on the actual content itself and how much money is at stake, the contract may also include having a specific call to action, such as having a link in your bio that leads to the brand's website. Another route is to become an affiliate.

Affiliates are different from influencers because affiliates are invested in making sales to their brand partners rather than simply increasing brand awareness, this is usually done with a promo code or trackable link to indicate where the sales came from. of you to connect with brands looking for affiliates. You can explore affiliate markets like clickbank reward style and amazon associates the best type of post for affiliate marketing is to review products for this to work only review products that you really endorse and that your audience would be interested in knowing about, for For example, Peter McKinnon would never review kitchen utensils, but he would definitely review cameras.

Although it sounds like a numbers game, affiliate marketing is an art that requires tactics to be able to balance sponsored content and organic content without looking like a walking advertisement. , remember that your audience is your greatest asset and if you post too much promotional material. you could potentially lose their trust if you lose your audience you lose the backbone of your entire business not only do you have to work for other brands to make money on Instagram you can have full control over your income by opening your own online business business that can sell physical goods, digital services and products, let's take a look at loki the wolfdog for example, he is one of the biggest dog entrepreneurs out there on

instagram

and even has his own online store.

Sells mugs, greeting cards and clothing. Some ways you can start your own online business. You can use a print-on-demand service to print on your own mugs, t-shirts, and bags. In fact, we have an entire video dedicated to how to start your own t-shirt online. mark and you can check it here. You can also sell services like music production consulting, yoga classes, and photography, to name a few. Alternatively you can sell digital products which are personally some of my favorites because they are infinitely scalable and you can make money while you sleep, consider selling courses, private content and training plans, whatever you sell you will want to have a link in your bio.

I recommend using linktree so you can link to more than one URL at a time. Also enable Instagram. Shop so customers can explore your products directly in the app Don't limit yourself financially People have multiple secret income streams As long as you don't have direct conflicts of interest, you could and should use all of these approaches to diversify your income. Broadcasts begin by searching for brands that have similar beliefs and values ​​to you and your audiences. You can contact them directly to try to work out a deal or you can list yourself on influencer marketplaces to get discovered and start building relationships.

In four, you can create an influencer card with a list of all your social profiles for brands to consult when they are looking for partnerships or you can access a list of brands and their desires to take the initiative and start reaching out to Crowdtap. is great for smaller accounts, you can do small content creation tasks to earn rewards; However, this is only available to people who are in the US. Hash is where brands run campaigns for you to participate, post an image, use the specified hashtags, and get paid. however, you will need at least 700 engaged followers to be eligible.

The rules vary when it comes to sponsored content, but to respect your audience's trust, use hashtag ads or sponsored hashtags in your posts. See what other Instagrammers are doing. When searching for the sponsored hashtag and getting inspired, Instagram also has a paid partnership tag that highlights sponsored posts. Some brands may require you to do this to disclose your relationship with them. When you work with a brand, there are two main ways to set the price. Your posts for sponsored posts may charge a flat rate per post, the best thing you can do for yourself is value your work based on the ROI you provide to brands, assuming there is transparency, you will want to be as involved in the results as much as possible, so let's say you are charging fifty dollars per post and you realize that the brand generates 10 thousand in sales, you will want to renegotiate your rates for affiliate posts, you will charge a cost per sale, this usually comes in form of percentage of the sale and a commission can range between five and thirty percent, but the customer does not need to buy a product for you to earn a commission, depending on the objective of the campaign you can organize. a pay-per-lead pricing model, this is where you get paid a flat fee every time a lead completes a desired action so they can sign up for a newsletter, fill out a contact form, or sign up for a free trial, for example.

Lastly, you can charge a Pay Per Click rate where you get paid for every customer you convert to a brand's website. Don't underestimate yourself just because you have a small number of followers. Micro-influencers are on the rise due to their authenticity and return on investment. A mobile marketing study. showed that influencers with between one and five thousand followers have more than double the engagement compared to influencers with ten thousand followers, so keep in mind that small can be powerful, there are no hard and fast rules, some influencers charge more while others charge less, the key is Be fair and competitive and know your value.

I would love to know what business you are planning to start or maybe you are already making money on Instagram. Feel free to leave your Instagram link in the comments below so we can all check it out. There you have it, those were five practical tips on how you can start making money on Instagram. In this video, you learned how many followers you need to start making money on Instagram and you also learned how many influencers there really are. We also discuss some creative ways and ideas with which you can start making money on Instagram. We talked about how to get paid for your content and how to build relationships with brands.

Don't forget to subscribe to learn with Shopify, where you will learn every week. a new skill to make your big plans for your business a reality. Thank you all so much for watching and we'll see you next time.