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. So if you’ve ever thought maybe I can do that too, you probably can whether you want to represent your own brand or a partner’s brand. Today’s blog is all about how you can make money on Instagram.
In this blog I’ll be answering five of the most commonly asked questions how many followers do you need in order to make money on Instagram.
1. How much do influencers actually make ?
2. What are the best ways that you can start making money on Instagram ?
3. How do you know what to charge as an influencer ?
4. How do you start making partnerships with brands ?
5. How many followers do you need in order to start making money on Instagram ?
Here are some ballpark figures according to a recent study :
1. Micro influencers or accounts with 10, 000 or less followers will make around 88 dollars per post.
2. Mid-tier influencers or accounts with ten thousand to a hundred thousand followers will charge around two hundred dollars per post .
3. Top level influencers or influencers with a hundred thousand to a million followers can charge around 670 dollars per post.
However they can charge a lot more when you get to this level the numbers tend to vary the reason that these numbers are not set in stone is because there are a few factors that come into play. The niche that you’re in will define how much competition you’ll be up against and how much money you could potentially 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 niche corner of Instagram.
How much money you charge will depend on how engaged your followers are. The reason for this is because 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 for brands. So keep in mind that it’s not only the size and reach of your Instagram account that brands want it’s also your audience’s trust and engagement with your content as well this is because you provide access to a niche audience filled with potential customers and this is something that brands need and are willing to pay .
Let’s take a look at how much money you can actually make like in any industry and any job there’s a range of what you can actually make in my experience there are no hard fast rules but you’re probably looking for a hard number so I can at least say this marketers are willing to pay one cent per follower so let’s say you have 5 000 followers you could potentially charge fifty dollars per post again this is just a guideline .
Let’s brainstorm a few ways that you can make money on Instagram
1 .You can work with brands on sponsored posts.
2. you can become an affiliate .
3. you can open your own online store or you can do all of these things at once.
So let’s start with the most common approach you could charge brands fee for sponsored content on your feed Or your stories. Together you’ll come to an agreement about exclusivity how much content you produce the wording that you’re using the actual content itself and how much money is at play. The contract may also include having a Specific call to action like having a link in your bio that leads to the brand’s website.
Another route is becoming an affiliate . Affiliates are different from Influencers. Because Affiliates are invested in making their Brand partners sales rather than just raising brand awareness. This is typically done with a promo code Or a traceable link to indicate that the Sales are coming from you to get connected with brands that are looking for affiliates. You can explore Affiliate marketplaces like click bank reward style and amazon associates. The ultimate type of post for affiliate marketing is reviewing products. To make this work only review products that you actually back end that your audience would be interested in hearing about so.
Affiliate marketing is an art you are able to balance sponsored content and organic content without looking like a walking advertisement. Remember that your audience is your biggest 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. You don’t only have to work for other brands in order to make money on Instagram you can have complete control over your income by opening your own online business you can sell physical goods services and digital products.
There are a few ways that you can start your own online business. You can use a print on demand service. In order to print on your own shirts and totes we actually have a whole blog dedicated on just how to start your own online t-shirt brand and you can check that out.
Do not undervalue yourself just because you have a small following micro Influencers are on the rise because of their authenticity and their return on investment. A mobile Marketer study showed that influencers with one to five thousand followers have more than two times the engagement in comparison to influencers with ten thousand followers. So keep in mind that small can be mighty there are no hard fast rules . Some influencers overcharge while some under charge. The key is to be both fair and competitive while knowing your value.
