How to Monetize Your Instagram
I get asked this question a lot - mostly on instagram, sometimes on tiktok. But I thought I’d pop over here to share some tips on how to actually do this. I’ve learned a lot about monetizing instagram from being on both sides of the business. I’m currently a social media and influencer manager and I’ve worked in the fashion industry for almost 7 years. So from that side I really learned about rates and how much you can charge as a blogger. I, too, am a mini blogger (clearly lol) and so from this side I’ve been able to see what kind of ways you can make money including affiliates, brand deals and more.
For the purpose of this post I’m mostly going to talk about instagram and fashion, but you can definitely apply this to other industries and platforms.
Firstly, there are three main ways to make money from instagram (I know there are tons, pls don’t come for me, but these are the top ones I’ve seen):
Brand partnerships and deals
This is the most popular and lucrative way to make money from ig. This is when a brand reaches out to you (or you reach out to them) and you both agree on a rate for a paid social collaboration. This means, the brand is going to provide you with a free product + x payment = y amount of social posts (could be stories, in-feed posts, reels or a mix of all). Obviously this applies to youtubers and bloggers, and this is the money maker. If you have a following upwards of 250k, you can charge up to $2000 per post + stories. If you are under 10k, you can probably charge about $50-200 per post, depending on your engagement rate and other factors. If you have an authentic large audience, you’ll land regular brand deals coming in and this is how most influencers are able to support themselves.
If you are just starting out - don’t worry, you just need to continue to build your following up a little more. But keep in mind, you can still make money at even 3k-5k. Just charge reasonably to start and go from there, but your content has value. Don’t sell yourself short!
Affiliate links & promo codes
This is probably the second most popular way you can make money from ‘influencing.’ Affiliate links are links that bloggers use to earn a tiny commission from a sale (and yes, I use them). For instance, if I posted a link for a product on my website, and you purchased it, a very small amount from that sale would go to me. Affiliate links are created from programs such as RewardStyle and ShopCollective (you have to apply first to start using them as an influencer). You can use these links on your blog, link in bio, swipe up, or youtube channel for products you feature. And if someone likes it enough to purchase, you’ll receive a portion of that sale.
Just something to note, this is not a large amount. Once, someone purchased Gucci tennis shoes from my styling sweats video, and I think my commission was about $20 (they retail for about $600). So, if you buy from someone’s affiliate link, you’re really helping that creator at no extra cost to you (it’s the same price as what’s listed on their site). The hope is that these tiny commissions can add up over time and make a difference.
You can also make a commission if a brand gives you a promo code to use on your ig. Yes these are the codes like SARA15 for 15% off. They are not always commission-based, but they can be. (For example, out of the codes I have listed here, only Mejuri & Tkees have commission programs - the rest are all just regular discounts).
Strictly just content creation
Lastly, you can be hired on from a brand just to simply, create content. What a concept haha. But seriously, sometimes brands don’t have the bandwidth to hire a photo & video team, so they might rely on creators to do this for them. If they don’t have the budget for you to promote, they may reach out just to have you create flat lays, product shots, video tutorials, etc. It could be a good way to make money in the beginning before you’ve established your following.
I know that was kind of short and sweet, but I wanted to leave you with these last tips on how to get to the point where you’re ready to monetize. Before you start thinking of business, think about two main things: your passion and your skills. What do you love? And what are you good at? Find the harmony between these two things and start from there, and I promise the money will come.
So many people chase after the hustle before they’ve established these things, and if so you won’t end up being both successful and happy. Whatever you end up being an influencer for, just remember you’ll be doing that everyday, all the time, around the clock lol. So make sure it’s a subject you really enjoy, and something people go to you for.
But once you’ve figured that out, you’re set. Let me know in the comments below if you have any other questions and go out there and get your money girl.
xo,
s.