In 2014, making money on social media was a feat for a select few people like travel creator Gabby Beckford (@packslight), who made $2,000 for six Instagram posts in the same year. It wasn’t a viable path for most creators — and there weren’t many options in the first place.
Fast-forward a decade, and the landscape of creator monetization has changed completely. Now, it’s not only possible to supplement your regular income with content creation but to dwarf it entirely.
Gabby makes hundreds of thousands of dollars from her content, netting nearly $300,000 in 2023. Top Instagram influencers reported earning as much as $92,000 per post (on the low end) and as much as $2,000,000.
Perhaps more importantly, though, there’s now a diverse range of options for those looking to make money on Instagram and other social media platforms — and you don’t need millions of followers to do it.
Whether you have 3,000 or 300,000 followers, you can monetize your Instagram with the right strategy. Knowing how many Instagram followers you have is crucial for monetization, as earnings from sponsored posts are often tied to follower count and engagement rates. And this might be where your next monetization idea comes from. Let’s get into it.
At a glance: 8 ways to make money on Instagram
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1. Partner with brands on sponsored content
There’s no way you’ve scrolled through your Instagram feed without coming across a sponsored post. Sponsored content — also known as influencer marketing — is a cornerstone of Instagram monetization — influencers and creators get the financial benefits of working with brands, and brands get access to highly engaged followers.
Partnerships come in all shapes and sizes, but the most successful ones always have some common threads. If you’re looking into a paid partnership, having a dedicated Instagram page to showcase your offerings is crucial. Here are some of those things to consider:
- Alignment with your niche and values: Authenticity is key when it comes to sponsored content. Your followers trust your recommendations, so partnering with brands that resonate with your target audience is essential. Joy Ofodu has set rules for working with brands: only family-friendly stuff. This helps her keep her boundaries with brands around the type of sponsored content she’s willing to share.
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