We will go over “Six Ways To Make Money On Instagram.” Since Instagram has shifted more towards “Video Content” than photo content, I believe creators have more monetization options. There are many unique ways to make money on Instagram, so I want to discuss Instagram today.
In the past, I felt like the money maker was more YouTube, Blog, and Digital Marketing, and it’s a little bit harder to make money on Instagram. But now, there are a lot of different ways you can make money on Instagram as well. And that’s why I want to share with you some ways to make money on Instagram. So let’s get right into the six different ways!
#1. Make Money Through IGTV Ads
The first way to make money on Instagram is “IGTV Ads.” Instagram has IGTV, which lets you upload longer-form video content, and with IGTV Ads, you’re allowing brands to run ads on your videos.
“In May 2020, Instagram began sharing revenue on 15-second ads played on their IGTV videos.” So if you’re an eligible creator, they will notify you onboard.
How To Set Up IGTV Ads?
To set it up, you have to have a creator account on Instagram. You’ll head to your creator account settings and then enable the monetization option for in-stream video ads. And then, from there, you will post your videos as usual.
It is IGTV, not Reals; generally, they show one ad per video. You’re going to receive 55% of the revenue generated per view. It is the same as YouTube, where they take a 45% cut, which is all based on the number of views. And these payments are issued monthly.
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IGTV Ads Is Best For Passive Income
According to the Instagram IGTV Monetization guidelines, your video has to be at least one minute long, it has to be in English, Spanish, German, or French, and it can’t violate intellectual property rights.
The great thing about IGTV Ads is Passive Income. It’s not as searchable as YouTube, but whenever people go to your IGTV Section on your Instagram page and start watching your videos, you can still make Passive Income from those views. You can also benefit from those IGTV videos by re-uploading them on YouTube.
#2. Make Money With Live Badges
“Live Badges” are tips you can receive during your “Instagram Live.” It’s basically like “Twitch” or “TikTok,” where people send you gifts. You can buy one Heart for $0.99, two Hearts for $1.99, and three Hearts for $4.99. So when you’re in the Live, you can see heart symbols next to the comments of people who purchase them.
How To Enable Instagram Live Badges?
To enable this, you need to have a professional account, which can be a creator or business account. And it would be best if you were at least 18 years old. You also have to have at least 10,000 Followers for this option. To apply, you can tap “Apply For Monetization” in your professional dashboard. And then, to complete, you’re going to tap “Submit Application” to make more money through Live Badges.
You might want to promote your Lives more often, maybe let them know you have a scheduled broadcast when they can expect you, and interact with their fans. Hopefully, you can get some Live Badges. Some creators make a lot of money through Instagram Live Badges.
#3. Make Money With Instagram Bonuses
Number three to make money on Instagram is “Bonuses.” Bonuses are opportunities for you to earn money directly from Instagram if you qualify to earn a bonus. They will notify you on the app, and you can enable it.
Their Badges Bonus was to promote their Live Badges. They had three different milestones:
- Milestone One was $100 when you go live with badges once for at least 15 minutes.
- Milestone Two was $150 when you go live with badges with another account for at least 30 minutes. (Going live with another Instagram creator for a minimum of 30 minutes).
- Milestone Three was $250 when you go live with badges for at least 15 minutes once per week.
Reels Play Bonus Program Of Instagram
Now Instagram has a “Reels Play Bonus Program” going on. With the “Reels Play Program,” Facebook committed to investing over $1 Billion in programs for creators through 2022. Some creators are getting offered $35,000 if their reels hit 58.31 Million Views in a month. At the same time, other creators are offered a max of $850 for their Bonus.
So the “Reels Play Bonus Program” will differ for different creators. They might have different maximums for the amount of money they can make. I think Bonuses are really exciting. I hope that Instagram keeps rolling these out because you can make a decent amount of money on Instagram through Bonuses.
#4. Make Money On Instagram By Working With Brands
Number four, you can “Work With Brands.” I’ve worked with many brands, only the ones I vet and care about. Because I don’t want to make posts for random companies that I don’t know anything about. I want to ensure that they have a product that I think is good.
When you start getting into Sponsorships, Brands may approach you and see if you can make a Real for them or an Image Post. And they’ll have different criteria for you and give you compensation for promoting their products.
Add Sponsorships Label On Posts
When doing these Sponsorships, you should add the “Paid Partnership” label on Instagram so they have a little toggle for you to add it. And also, add the Brand Partner that you’re partnering with, and this is to follow “FTC” guidelines.
So you want to make sure people know that you are getting paid for that piece of content. You want to add that “Paid Partnership” label and a hashtag, maybe #ad or #sponsored.
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Sponsorships can be a great way to promote products you like and give people value. Also, Sponsorships are a great way to benefit everyone. You give more awareness to the brand and the product you believe in the audience. You also help the company get more views, signups, or whatever. And, of course, you also make money from doing it.
#5. Make Money Through Affiliate Marketing On Instagram
Number five, you can also Make Money On Instagram through Affiliate Marketing. Affiliate Links are essentially unique Referral Links that you can put in your content; whenever people click it and maybe purchase something, you get a small commission.
To find Affiliate Programs to join, you can go on Affiliate Networks like “Impact.com” or “ShareASale.” These are affiliate networks where you can start searching for brands and products that you like and sign up for their affiliate programs. And then, they’ll generate affiliate links for you.
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Contact Companies For Custom Affiliate Program
You can also find affiliate programs by searching for your favorite products on “Google” and checking if they have affiliate programs. If they don’t have an affiliate program, you could even contact companies and see if they can create an affiliate program.
Instagram lets you put your link in “Bio.” It also allows you to put links in your Stories. The same thing to affiliate links— You should disclose with a hashtag or tell people that it’s an affiliate link. So that people know that if they buy through your link, you get a little commission.
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Promote Affiliate Links On Instagram With Reels & Posts
Affiliate links are kind of the same thing where it’s a win-win for everyone; you help give value to your audience, the brand makes money, and you also make money. To monetize affiliate links, you might have a “Link Tree” in the link in your bio, where you talk about the different products you use and how they can benefit them.
And when it comes to promoting those links, you can also make Reels or Feed Posts where you talk about the product. Sometimes you can do tutorials on Reels of using the product and letting people know that you believe in it or use it. And people might be interested based on your tutorial and sign up through your link.
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#6. Sell Products On Instagram
Last but not least, number six, you can “Sell Products.” You can promote any product through the link in your bio, but Instagram also released “IG Shopping, ” essentially like your own eCommerce Store. IG Shopping is great, but it’s not yet available for Digital Products or Services. But for people who Sell Products, this can be a great way to list your products.
To be eligible, you have to operate in a supported market. You have to have an e-Commerce Site where you sell products, and businesses can now trade through Lives, which means you can buy products in real-time during the Live.
Use Instagram Checkout For Your Products
Now people can buy through your Instagram page directly or shop and go to your link. If you use Instagram’s checkout, they do have different transaction fees. According to their business help center, the selling fee is 5% per shipment or a flat fee of $0.40 for shipments of $8 or less.
An Instagram Checkout also means you might lose out on valuable data, and you might not be able to get buyer emails, for example, because Instagram handles the communications rather than the brand directly.
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People say Instagram helps them with their shopping experience. 83% discover new products or services on Instagram. So people are using Instagram to kind of find products to shopping for. It’s a great way to make money on Instagram. And also, it is a great way to generate business.
But again, if you have your e-Commerce Products, you should check out Instagram shopping and see their capabilities.
Conclusion
I hope you guys enjoyed this information on Six different Ways to make money on Instagram. Things may change over time, some of these things I mentioned, like the various criteria to get accepted or the different transaction fees through Instagram shopping.
Like all these things can change over time, but I try to keep this information updated to the current time of writing this article. Again, If you guys have any other thoughts on ways to monetize on Instagram, please leave me a comment below.
