When most people open Instagram on their smartphones, they see an opportunity to post pictures of their weekend activities, #selfies with their #besties, and images of the delicious meal they had for dinner.Many more see a chance to check up on their favorite celebrities and connect with the brands they love. Others, though, see an opportunity and think about how to make money on Instagram.
And for a good reason! Of the many social media platforms out there, Instagram is uniquely positioned as a vehicle for income generation.Indeed, many Instagram users are earning serious sums of money on the platform as we speak, with some successful influencers charging over $1,000 for a single sponsored story.
Ultimately, the reason you should try to make money on Instagram boils down to its popularity. Since its inception in 2010, this free photo and video sharing app has become one of the top 4 social media platforms online.According to Backlinko, it now boasts a whopping 1 billion active monthly users, equating to almost 25% of internet users worldwide!
Rates of engagement are sky-high, too, and hashtags enable you to extend your reach even further (as well as tap into a specific audience and capitalize on current trends). You get the idea: Instagram’s full of money-making potential.
People can and do make money on Instagram! We aren’t talking about trifling sums either. We’ll take a closer look at this topic next, but with some influencers earning 6-figures on Instagram alone, the sky’s the limit on how much money you can make.
We’ve looked at why Instagram’s such an excellent social network for earning money and addressed how much you can expect to make. Now let’s consider four specific ways people earn a living through the platform:
Sponsorship’s arguably the simplest, most common, and most lucrative strategy for anyone wondering how to make money on Instagram. That is when brands pay you to promote their products and services in your feed.