I usually don’t immediately reveal my profession because there’s a misconception about bloggers—people don’t always take them seriously until they check follower counts. Another reason is that the first question I always get is about making money on Instagram or blogging in general. I find this intrusive and awkward; it’s not something people typically ask about other jobs.
However, I understand the curiosity. Blogging is new, and people want to know how it works. Many aspiring bloggers ask how to start making money on social media, so I’m sharing my methods and tips, including how to set your rates.
How to Make Money on Instagram
Everyone monetizes differently, depending on their audience and goals. If you’re selling a product or service, the goal is straightforward. If you’re an influencer, I recommend focusing on building trust and creating high-quality content before concentrating on making money directly from your audience. Later, you can launch products, but initially, prioritize building a relationship with your followers.
So, how do you make money without directly selling? Let’s start with methods for smaller audiences and work our way up.
1. Affiliate Links: This is a great starting point. Almost everyone can do it, regardless of follower count. Influencers use affiliate links to monetize their content. You sign up with an affiliate network, share products, and use a custom link to track clicks or sales. Different networks offer varying payment structures (some pay per click, others per sale). Popular options include RewardStyle and ShopStyle Collective (I prefer ShopStyle’s pay-per-click model). Amazon Associates is another great option, especially for non-fashion products.
2. RewardStyle LikeToKnow.It: RewardStyle offers a popular feature called LikeToKnow.It. You tag items in your Instagram photos, and people who screenshot your photos get links to those items in their inbox. It’s a very effective method for many. I use it occasionally.
3. ShopStyle Looks & Collections: ShopStyle offers a less innovative but reliable way to make your Instagram photos shoppable. You create collections and embed shoppable links into your website or use your bio link.
4. Influencer Apps/Networks: These apps and websites connect brands with influencers. Brands post opportunities, and you apply. Some networks also allow brands to contact you directly. Many offer trade deals initially, which is fine when you’re starting out, as long as the brand’s audience aligns with yours. Examples include Fohr Card, Upfluence, Revfluence, Famebit, Open Influence, HypeTap, and TapInfluence.
5. Sponsored Posts: Around the 10,000 authentic follower mark, you might start getting contacted for sponsored posts. Brands or PR companies will reach out for collaborations. Know your worth! Don’t undervalue your work. If you have a highly engaged audience, you should be paid. Pitch ideas to brands and negotiate deals that benefit both parties. Direct messaging is a good way to reach out to brands and propose collaborations. Remember, be strategic about your sponsored content; it should align with your brand and audience to maintain trust.
6. Brand Ambassador: This is a long-term partnership with a brand. It’s highly beneficial but less common. This type of collaboration can provide a consistent income stream.
7. Launching Your Own Product: Before launching a product, you need to have built trust with your audience and clearly explain your reasoning behind the product. The product should align with your expertise and audience interests.
How Much Can You Charge?
The biggest question is how much to charge for a sponsored post. It’s less about follower count and more about engagement. Brands look at the conversion rate from followers to engagement. There’s no longer a simple formula, as there was before inflated follower counts became an issue. The amount of work involved in creating high-quality content today also needs to be considered.