Instagram is a powerhouse for creators in 2024! Whether you’re a budding content creator or a seasoned influencer, the potential to make money on Instagram is vast. If you’ve ever scrolled through Instagram to come across your favorite creators promoting products, and wanted to be on the other side of the screen, then you’ve come to the right place! From selling merchandise to collaborating with brands or simply running ads on your IG account, there are numerous ways to create a steady source of passive income (or even full-time income!) through Instagram alone.
Let us first look at some statistics that reflect the potential of this platform for creators –
- Instagram is the 2nd most downloaded app in 2023!
- It is the 4th most viewed website in the world and also, the 4th most used social media platform globally.
- The platform has an active user base of 1.65 billion users per month!
While creators on Instagram earn as much as a seven-figure revenue from a sponsored post, the good news is – You do not need to have millions of followers to make money from Instagram! Brands are often on the lookout for influencers with authentic content and high rates of engagement rather than simply a larger follower count!
In this blog, let us unveil actionable ways to generate a steady stream of income from Instagram and tips to monetize your social presence effectively!
Making Money as an Instagram Influencer in 2024
Making money as an Instagram influencer in 2024 requires more than just a large follower count; it demands strategic engagement and authentic content that resonates with specific audiences. As one of the most creative social platforms with billions of users worldwide, Instagram is one of the most promising platforms for creators to turn their passion into profit. Whether you’re a budding photographer, a fashion enthusiast, or a culinary wizard, there is no dearth of innovative ways in which you can monetize your social presence.
As an Instagram influencer in 2024, the landscape has evolved to favor authenticity and niche content. Brands are increasingly partnering with influencers who can engage deeply with specific demographics. While collaborating with brands for sponsored posts remains a primary revenue stream, you can also monetize your Instagram presence by focusing on developing a unique style and voice that resonates with a particular audience.
Interested in leveraging Instagram to sell your online courses? Get in touch with experts at Classplus to promote your online courses using Instagram!
11 Effective Ways to Make Money on Instagram in 2024
In 2024, Instagram remains a potent platform for creators and businesses alike to monetize their influence. From direct sales to innovative advertising techniques, the opportunities are lucrative. Below are 11 actionable strategies to monetize your Instagram accounts and get paid for being creative on the web –
Collaborate With Brands for Sponsored Posts in Your Niche
Partner with brands that resonate with your audience to create sponsored content. The key is authenticity—only promote products you genuinely like and use. This builds trust with your followers and increases the likelihood of successful conversions. Influencers can negotiate deals based on their engagement rates, offering posts, stories, or video content.
Become an Affiliate Marketer
Join affiliate programs where you can earn commissions by promoting a brand’s products through your posts. Include affiliate links in your captions or Instagram stories. Optimize your posts with engaging images and direct calls-to-action to maximize click-throughs and sales.
Turn Your Instagram Into a Store With Product & Merch Sales
Utilize Instagram to promote and sell your own products. This can be physical goods, digital products, or services. Set up an Instagram Shop to integrate your product catalog directly into your profile, making it easy for followers to browse and purchase without leaving the app.
Earn a Commission Through IGTV Ads
Monetize your longer video content on IGTV with ads. As your views increase, so does your potential revenue. Ensure your content is engaging and high-quality to keep viewers watching longer, boosting your ad impressions.
Instagram Stories Ads
Create sponsored Instagram stories that include interactive elements such as polls, links, or swipe-up features to increase engagement. Stories ads can be especially effective for time-sensitive offers and promotions, capturing the attention of followers actively using the platform throughout the day.
Check amazing Instagram Story Ideas for Creators that convert!
Offer Exclusive Subscription Content
Offer exclusive content to your followers via Instagram’s subscription feature. This could include behind-the-scenes content, additional tips, or exclusive videos. Subscriptions encourage loyal followers to pay a monthly fee for special access, providing a steady income stream. You can also bank in on your Instagram followers to sell an online course or promote your online business.
Badges in Live Videos
During live videos, followers can show their support by purchasing badges. These appear next to their names in the comments, highlighting them in the chat and potentially increasing their interaction with you. Encourage viewers to buy badges by offering shoutouts or exclusive content during the live session.
Set Up an Instagram Shop
If you have products to sell, setting up an Instagram Shop allows your followers to purchase directly from your posts and stories. Use high-quality images and create seamless shopping experiences to encourage purchases directly from your Instagram feed.
Become a Brand’s Voice With Ambassadorships
Establish long-term relationships with brands as a brand ambassador. This typically involves a series of sponsored content over an extended period and can provide more stability compared to one-off posts. Effective ambassadors often have a genuine connection with the brand and its products.
Sell Photography & Art
Photographers and artists can use Instagram as a gallery to showcase and sell their work. Use high-quality images, include interesting captions about the artwork, and direct interested buyers on how to purchase. Offering limited-time promotions or signed pieces can also increase urgency and sales.
Take Online Workshops & Classes on Instagram
Leverage your expertise by offering online workshops or classes through Instagram. Use Live or IGTV to host sessions, and charge admission through tickets or subscriptions. This is especially popular in niches like fitness, cooking, and crafts, where followers benefit directly from expert guidance.
Also read – How to Sell Courses Using Instagram?
How Much Do Instagram Influencers Make?
The earnings of Instagram influencers vary widely based on their niche, audience size, engagement rate, and the types of partnerships they secure. While up and coming influencers with minimal followers have to hunt out for income streams by reaching out to potential collaborators, top-tier influencers with hundreds of thousands or millions of followers attract lucrative opportunities, with payments often exceeding $20,000 per post. These figures are influenced by the influencer’s ability to negotiate and the value they bring to the brand they are promoting.
The following are an estimate of how much Instagram influencers make through their content based on their followers count –
| Type of Influencer | Followers | Revenue per Post (INR) |
| Nano-influencer | 1,000–10,000 | ₹ 800 – ₹ 8,000 |
| Micro-influencer | 10,000–50,000 | ₹ 8,000 – ₹ 40,000 |
| Mid-tier Influencer | 50,000–500,000 | ₹ 40,000 – ₹ 400,000 |
| Macro-influencer | 500,000–1 million | ₹ 400,000 – ₹ 800,000 |
| Mega-influencer | 1 million+ | ₹ 800,000 – ₹ 80 million+ |
How to Make Money on Instagram with 1K Followers?
Even with only 1,000 followers, you can begin earning money on Instagram by leveraging your niche appeal and high engagement rates. At this follower count, personal connection and authenticity are your greatest assets. Here’s how you can monetize your Instagram account with 1K followers –
- Affiliate Marketing: Join affiliate programs where you can earn a commission on sales made through your affiliate links. For instance, if you’re into beauty, partnering with small cosmetic brands can be fruitful. Make sure to use engaging posts and stories to showcase the products.
- Sponsored Posts: Reach out to small businesses or startups looking for exposure within your audience’s demographic. These entities often prefer working with micro-influencers due to their higher engagement rates compared to larger accounts.
- Sell Your Own Products or Services: Whether you’re a graphic designer, writer, or fitness coach, Instagram can serve as a platform to sell your products or services directly to your followers. Use posts and stories to showcase your offerings and direct interested followers to your website or store.
- Offer Exclusive Content: You can start a Patreon or use Instagram’s subscription model to offer exclusive content to your subscribers for a fee. This could include detailed guides, personal advice sessions, or unique video content.
- Host Paid Workshops or Webinars: Utilize your expertise by organizing workshops or webinars that followers can pay to attend. For example, a photography enthusiast can host online sessions about photo editing techniques.
Implemented thoughtfully, these strategies can help you generate income from Instagram effectively, even with a smaller audience. Influencers on Instagram can maximize their earning potential by focusing on cultivating a strong, engaged community around their genres of content.
How to Make Money on Instagram? FAQs
You can start earning money with as few as 1000 followers, especially if your engagement rates are high. Brands value quality engagement over sheer numbers.
Begin by defining your niche, consistently posting engaging content, and growing your followers. Utilize affiliate marketing, sponsored posts, and Instagram’s shopping features to monetize your account effectively.
While not mandatory, a business account provides access to analytics and advertising tools, which can help in professionally managing and growing your presence on the platform.
When it comes to amp up your social engagement, consistency is key. Aim to post on Instagram at least once a day to keep your audience engaged and ensure your content is seen. Quality, however, should not be sacrificed for quantity.
Some of the most profitable niches include health and wellness, travel, fashion and beauty, lifestyle, and food. Niche markets like pet care, DIY crafts, and sustainability are also growing in popularity.
