It's frustrating to see influencers making thousands of dollars per Instagram post as we struggle to get more followers every day. We all want to be the next influencer to land amazing sponsored deals that pay us to travel the world and eat the best food, but it's hard to know exactly when your account is ready to earn money.
One of the first metrics that users and brands turn to to determine account influence is follower count, largely because it's on everyone's mind. Yet, there is no set number of Instagram followers to make money in 2018 that works for all influencers in all niches. In today's article, I'm going to tell you how to get the number of subscribers and when to monetize them.
How much money can you make on Instagram?
This is the first question everyone asks when trying to monetize their Instagram, but there is no clear and quick answer. Many variables affect the amount of money a user can earn from posting on Instagram, such as account niche, form of monetization, quality of posts, number of followers and engagement rates, for to name just a few. Just to name a few.
One of the most popular (if not the most popular) way for influencers to make money on Instagram is through sponsored posts. Since influencers are responsible for setting their own fees for working with brands, the earning potential here varies even more.
For example, an account that only specializes in influencer marketing and sponsored posts may initially charge $25-50 per post, and accounts that are already established influencers with 30,000-80,000 followers may charge hundreds of dollars per publication. Once influencers surpass 100,000 followers, they tend to charge at least $1,000 for a single post, like Sam Ushiro, who has 283,000 followers and charges $1,500 per post. Not to mention, celebrities like Kim Kardashian West, who has 107 million followers, can earn over $500,000 per sponsored Instagram post.
Combine the wide variety of influencer fees with the varying number of brands they work with and the number of sponsored posts they receive, and it's entirely possible to make a living just by posting on Instagram!
How many followers do you need to make money on Instagram?
The answer is: it depends! If you think this answer is a disappointment, hear me out.
When brands want to work with influencers, they want to be sure their marketing dollars are well spent. What brands really care about is how their audience engages, regardless of the number of subscribers, because for them, that means increased product awareness and potential sales. Brands also pay attention to how follower counts and engagement rates align with their niche and the quality of their posts.
Engagement rate is gold
While the number of followers you need to make money from Instagram can range from 1,000 to 1 million, high engagement rates are a constant. There's no point posting content on Instagram if your followers aren't seeing or interacting with it.
For example, imagine you have $100 and want to make more money out of it. You could invest it with an individual who has hundreds of thousands of potential buyers on hand, but only finds a hundred who pay attention to what they say. Your best bet is to invest that $100 with someone who only has a few thousand potential buyers, but they're all constantly listening to what they're saying.
The key to making money on Instagram isn't the number of followers. He has a good engagement rate. Your engagement rate is the total number of likes and comments on a given number of posts, divided by the number of posts divided by followers, multiplied by 100. (There are many online tools available if you don't have don't want to do it). the math itself!)
Later, an Instagram programming and marketing platform claims that engagement rates between 2% and 3% are average and rates between 4% and 6% are considered high. An engagement rate that exceeds double digits is considered “viral”.
For brands, when your engagement rate is high, it means your followers are listening to what you say, and better yet, listening! They will invest their money with you because, in turn, this will entice your followers to buy their products.
Your niche matters a lot
Did you know that 7 out of 10 people trust social media to make buying decisions AND nearly half trust influencer reviews? Whether you know it or not, people are looking for recommendations to follow, and yours is one of them. If you're passionate and knowledgeable about a particular niche, you can make money promoting brands and products you already love!
The most profitable niches on Instagram include health/wellness/fitness, travel, fashion, beauty, business, wealth/finance, luxury and lifestyle. Users in these niches work with a variety of brands, create a wide range of content, and successfully monetize their Instagram accounts.
Take Zara, for example. A lady of numerous gifts, Zara is an expert violin player and writer situated in Nigeria. Presently, with the assistance of Sellfy, she sells regular hair care assets and advanced data items to 105K+ adherents on Instagram and 171K+ endorsers on YouTube.
A few specialties are well defined for the point that you don't must have a ton of supporters to begin landing supported posts, for example, "burgers" rather than "food" or "skin inflammation healthy skin" rather than "magnificence."
An ever increasing number of brands are working with miniature powerhouses in these particular specialties to advance their items since they have a more drawn in, designated following.
While the meaning of a miniature force to be reckoned with differs from one expert to another, they are a more than 1,000 and less for the most part characterized as a client than 100,000 profoundly drawn in devotees. That is extraordinary information for accounts that are as yet developing yet are prepared to begin landing supported posts!
Don’t limit yourself to sponsored posts
Earn extra as an affiliate
Collaborating with brands isn't the best way to adapt your Instagram account. On top of working straightforwardly with brands in supported posts, you could likewise utilize member showcasing to make a pay on Instagram. Member showcasing is the point at which a brand pays you a commission after somebody purchases an item that you suggest. Generally, with a promotion code or subsidiary connection, the member showcasing networks you are a piece of will follow the quantity of deals your suggestion trimmings and will pay you a level of the benefit no matter what.
Selling member items is essentially as basic as suggesting an item as long as you generally make sure to incorporate your following connection or code. The best spot to begin is with items you as of now use and suggest and investigate on the off chance that those brands are as of now a piece of partner promoting networks.
There are hundreds, on the off chance that not thousands, of subsidiary projects accessible for you to join and in every specialty under the sun. A portion of the top member promoting organizations to join while simply beginning incorporate Amazon Partners, Linkshare, Shareasale, and Commission Intersection.
Earn even more with your own products
By a long shot the most ideal way of adapting your Instagram account is by selling your own computerized items. That is precisely exact thing Ron Jones does. He's a fitness coach and a Sellfy maker that is figured out how to join individual wellness preparing with emotional well-being strategies to offer a really exceptional encounter to his clients. This way he has effectively brought his own preparation online by selling a 5-week program in his Sellfy store.
Selling on Instagram isn't quite so troublesome as it might sound. It very well may be just about as straightforward as composing a digital book in your specialty and showcasing it to your adherents!
Despite the fact that there is no mathematical limit you need to cross to view yourself as a powerhouse and begin bringing in cash on Instagram, that doesn't mean you ought to abandon developing your crowd. Development is consistently a decent sign of a fruitful, flourishing record and when you have 1,000 devotees, a ton of adaptation opens up for you.
With everything taken into account, for however long you are seeing incredible commitment and making quality substance, you are doing great to bringing in cash on Instagram.