Approximately 1.50 billion individuals worldwide utilize Instagram. The social media platform was launched on October 6, 2010, by co-founders Kevin Systrom and Mike Krieger, initially offering limited features. However, in the ensuing years, the application has undergone considerable development, introducing numerous additional features beyond mere photo-sharing on the user feed.
On Instagram, users can now share photos on stories, make reels, choose from ample filters and do a lot more. Not just for personal use, the app is also extremely popular for business use. Here are a few ways through which you can make money from Instagram.
You can put the following points into use to earn money from Instagram:
One of the most common ways to make money from Instagram is through brand partnerships. Depending upon the number of followers you have on the app, brands will approach you to advertise their products on your account. The more followers you have, the better money you can earn from brand partnerships.
To give you a rough idea, cricketer Virat Kohli charges almost Rs 9 crore for each promoted post on his Instagram account. However, Kohli has nearly 240 million followers on the app, which is why he can demand a per-post fee in crores. For those with less than 50,000 followers, the per-post charge can be less than Rs 2,000.
This is similar to branded/sponsored posts. Affiliate marketing is a type of marketing where an influencer promotes a product through an affiliate link and receives a commission for each sale made through the link.
The link may have the product review, tips on how to use the product, or a discount code which the followers can avail. The brand or company tracks the number of sales made through the affiliate link, and accordingly pays the influencer.
Another great way to make money on Instagram is by selling products. You will see a lot of pages selling their products on their business accounts. With a business account, you can set up a shop on Instagram, which lets you showcase your products and enable buyers to purchase them directly within the app.
Additionally, you can also drive traction to your website through Instagram by posting links to the products available on your online store/website. You will notice that most brands share a link to their website in their ‘about me’ section.
Consulting in simple words means someone who shares their knowledge and experience with budding content creators to help them grow their business or followers count. Consultants can also help the individual or their business with content creation tips and ideas. Some consultants charge on an hourly basis, while some charge weekly or monthly or even annually. An experienced consultant in India makes anything about Rs 2,000 to Rs 5,000 per hour of consultation.
This is another way to earn money through Instagram, but this is similar to brand partnerships. You can earn by simply promoting games or new gaming brands on your account, or by uploading posts with a referral code.
The gaming industry has been growing rapidly and there are a lot of new game developers or gaming apps that need influencers to promote them on social media.