How To Monetize Instagram and Earn From Your Hobby

You see these content creators living their best lives. Now, you also want to try your luck at this social media thing. Posting great photos and videos is fun, but an extra income stream never hurts. Do you want to know how to monetize Instagram? You are in the right place to find out the details.

This article will tell you how to prepare your page for monetization. We can tell you the way your favorite influencer uses the platform. 

If you have a small page, don’t worry. You can earn money on Instagram as well. 

Read this article for our best tips!

Can You Monetize Instagram? Instagram Monetization Opportunities

Of course, people can earn an income from social media. But how do they monetize their content on Instagram? Can you monetize on Instagram? Is Instagram monetization possible? Yes, Instagram can be a platform where you earn. But you have to think about it a little differently than TikTok.

You don’t get paid to attract more views to your videos. It’s unlike YouTube, where you can look into how to get monetized after a certain number of subscribers. That is not how monetization works on Instagram. You will have to be more creative. 

Instagram may not pay you, but your followers might. They are the ones with the spending power. You just have to access their resources. Many creatives have done it before you, and you can as well.

How To Monetize Instagram Reels Without the Reels Play Bonus Program

You may have heard about the bonus program. Now, it’s a distant memory for most Instagram creators. It’s no longer one of the revenue streams you can expect from Instagram as of March 9, 2023. 

So, what can content creators do now? Is there an incentive to create short-form video content?

There are still ways to earn money from your video editing skills. Let’s discuss a few tools on the platform.

Promo Codes

Are you the person from whom everyone gets the outfit details? Do you post a photo and get questions about the makeup that you use? You gladly tell them all the details. But did you know you can earn from sharing information like that? 

Creators do this with promo codes and trackable links. Some have Amazon storefronts where they make collections of all the products they buy from Amazon. 

Through affiliate marketing, you can earn when you influence someone to make a purchase. It is a small percentage of the overall price of the item. Nevertheless, it can add up.

Don’t just give the outfit details the next time you make an Instagram Reel. Provide a link or a discount code to make money from your recommendation. Research the details on influencer marketplaces to secure these discount codes. This is how to monetize Instagram Reels.

Instagram Shop

Consider opening an Instagram Shop. People already use the platform to run their online boutiques. 

Now, IG has features in place to facilitate Instagram Shopping. It is a very organized way to create product tags and secure sales. This tool is how some creators on the platform make money on Instagram.

How To Use Monetization Tools on Instagram for Maximum Effect

Instagram Reels, the Shop, and badges are great ways to monetize Instagram. But you have to make sure that your page is at an optimal level first. You need to ensure your followers would use the links to your products. You need to know that you sell things they would buy.

You won’t know how to use monetization tools on Instagram if your page is weak. Let’s work on securing your brand identity before implementing these monetization tools.

1. Find Your Niche

Do you have a strong sense of who you are? Do you at least know what your brand is about? You need to know this before you start to sell something. Find out which niche you belong to. 

You could be a beauty influencer who dabbles in fashion. Maybe you are a fitness influencer who loves to share healthy recipes. Find out about the bands for fitness influencers and take it from there.

2. ​​Identify Your Target Audience

Every creative has a target audience. Even the ones with huge followings have a specific group of people they want to reach. It just may be a particularly wide group of people. 

Nevertheless, you need to identify who should see your content. How old are they? Where do they live? What is their gender? If you have an ideal target audience, you have a better idea about how to make content. This information will guide you going forward.

Knowing who you target will help you decide what not to post. Would your loyal audience like this piece of content? Is this something they would engage in? These are the people you will cater to.

3. Engage With Your Audience

Now that you have the people in mind, engage with them. Go into your comment section and talk to your followers. If they took the time to comment, you should acknowledge them. If they send you a DM, at least react to it. 

These are the people who will help you earn an income later. Tell them that you value the time they used to engage with you. Letting your followers know you value them won’t cost you much time.

Create a community on your page. These Instagram users don’t start as customers. 

First, they are supporters and followers. Let them know they are part of a family. That feeling will lead them to spend. That is how to monetize on Instagram.

Why Asking How Many Followers To Monetize Instagram Doesn’t Matter

We see the influencers with hundreds of thousands of followers. We assume that they are making Bank from Instagram. People believe that smaller creators can’t earn as well for some reason. 

They think there is a particular threshold to meet regarding followers. This is a huge misconception. 

Small-scale creators can earn money on Instagram as well. You don’t need to be a mega influencer to monetize your content. Small creators shall look into how to monetize an Instagram account.

Here are three reasons why asking how many followers to monetize Instagram isn’t important:

1. Higher Engagement

Smaller creatives are in the perfect position to have a higher engagement rate. We can explain why. Creators calculate their engagement rate based on how much activity they get on their page. More activity is great, but they must divide that by how many followers they have. 

If they have many followers, their engagement rate may decrease. Smaller scale creators with fewer followers have a lower number with which to divide. They could have a very competitive engagement rate.

With this higher engagement rate, small influencers are better positioned to negotiate with brands. They just need to know how to spin it. They can argue that the followers they do have engaged very often. This is better than having a huge following with very few invested followers.

Their few followers might spend more money than the followers of mega-influencers. Some huge influencers don’t have as many supporters as small creators. They just have a huge following of people waiting for them to mess up.

2. Closer Relationship With Followers

It’s hard to keep up with millions of followers. It is easier to respond and engage with fewer followers. This is where smaller creators excel. They don’t have as many messages and comments to entertain. Because of this, they can interact more with their followers. 

They can create relationships with their followers because they are fewer in number. They may even remember the recurring supporters. A subscriber will feel very valued when a creator remembers them. They may be more inclined to spend money when the time comes. A huge creator does not have this luxury.

3. More Genuine Presence

You can come off as more personable when you have a smaller following. With fewer eyes on you, you act more authentically. People still appreciate that with social media. Instagram has become overly curated. 

That is why people flock to TikTok, where there are no rules. You can maintain genuine relationships with a smaller following.

When you begin to advertise sponsor products, this authenticity will come in handy. Your followers won’t view you as someone trying to make quick money. They will see you as a friend making a recommendation. Because you are so personable, they think you would never lead them astray.

You should still grow your page if that is your goal. But don’t wait until you reach a certain number to start earning. Attaining 1 million followers is not part of how to monetize an Instagram account. You likely already have all the tools you need. 

3 Important Tips for Collaborating With Brands

Now you understand the key to earning is not depending on Instagram. You will have to earn by making other moves on the platform. One way is by collaborating with brands. 

We are talking about brands with established names. They are looking for influencers to promote their products for them. It is the new way of advertising products. 

As an influencer, you have a direct link to their target demographic. They will use your influence to promote their products. In return, they compensate you.

But how do you reach the stage where a brand wants to work with you? We already know you don’t have to be a mega influencer. So how do you do it? Let’s talk about how you can get this opportunity.

1. Pitching to Brands

Sometimes, you must put yourself out there. There are so many influencers on the platform right now. They may not find you easily. It is up to you to put yourself out there and get their attention. There are different ways you can do this.

Think of the products that you already use. They might be in skincare, fitness, or health. You usually post these things on your Instagram Stories to entertain your followers. Do you tag the brands? Do they know that you use their products? When you tag them, they receive a notification. This is a great way to get their attention. 

They might look at your page and see the type of content that you create. If they like it, they may want to work with you.

You can also directly email them or send them a direct message. Sending each brand a message could be a lot of work. Check out our Instagram DM templates if you need to save time. 

2. Negotiating Payments

There is no set fee for creators to make content. A negotiation process happens before a brand and an influencer agrees. Do you know how to negotiate a salary? 

For influencers, they have to play up their strengths. Talk about how great your engagement rate is. 

Use your Instagram Insights to show that your followers belong to a particular demographic. Ideally, this is the demographic that the brand is trying to tap into. 

Maybe you create great content. Show off how high-quality your photos and videos are. It would be great to have a portfolio of existing Instagram Reels. Brands can review this content and decide if it is worth the price. 

3. Creating Content

Make sure you understand what you should supply. Do they want photos, videos, and Instagram Stories? Do they also want you to post on your other social media platforms? All of this should be clear.

Your wonderfully engaged followers may ask questions when you post this content. Does the brand expect you to respond to questions about the product? Ensure you know this before you post a video. You don’t want to give incorrect information and get in trouble with the brand. 

Now you know how to get monetized on Instagram. Let’s increase your chances of making money on this platform.

Let’s Increase That Follower Count, Too!

We promise you don’t need a huge following to make money on Instagram. That doesn’t mean that you shouldn’t aim to grow your page. If you can attract more supporters to your page, why not?

Still, you should only aim for people who fit your target audience. These people will engage with what you post and ultimately buy. To attract specific followers, you will need a very intensive growth plan to attract specific followers. 

Buying them won’t secure you the results that you need. You need the help of a growth professional. That is what Plixi is. We have very impressive AI technology that brings your followers to you. 

There is an amazing in-house platform for Instagram influencers here. We think you should join us. We have already given great tips on how to monetize Instagram. Trust us to grow your Instagram following as well. 

Sign up with Plixi today!