Audience Awards filmmakers are influencers and you can make money on Instagram whether you have 1 K or 100K followers. And most of us are always in need of some extra cash. So here are a few tips from Braveen Kumar, on how to make money being an influencer.
You’ve probably heard stories of Instagrammers who are cashing in on the pictures they snap and share every day. You might’ve even looked at your own sizeable following and thought, “Maybe I can do that too”.
Just like bloggers, YouTubers, and anyone who’s amassed an audience around the content they produce, Instagrammers have reach and influence figured out—two things many companies struggle with.
Together, these two things offer the opportunity for Instagram creators to explore multiple streams of potential revenue, whether they want to build an empire or just earn some extra cash and free stuff.
How many followers do you need to make money?
If by now you’re wondering how many followers you need to make it happen, the short answer is “not as many as you think”.
The long answer depends on factors that range from:
- What niche you’re in and how easily you can directly tie it to a product category (fashion, food, beauty, and fitness are popular niches, based on top hashtags)
- How engaged your followers are (100K fake followers won’t amount to much).
- Which revenue channels you explore.
Naturally, the more engaged followers you have, the better.
While top Instagrammers make thousands per post on the photo-sharing platform, even those with a smaller-but-engaged following of 1000 have the potential to start making money.
How to make money on Instagram
Depending on your unique brand of Instagram content, your audience, and your level of commitment, you can make money on Instagram in the following ways:
- Doing sponsored posts for brands that want to get in front of your audience.
- Becoming an affiliate and making a commission selling other brands’ products .
- Creating and selling a physical or digital product, or offering a paid service.
- Selling your photography.
- Competing in an Audience Awards Video Contest
The beauty here is that chasing one revenue stream doesn’t necessarily rule out another.
So let’s start with the most common approach to Instagram monetization: partnering with brands as an influencer.
Work with brands on sponsored posts
The term “influencer” gets thrown around a lot these days.
An influencer is basically anyone who’s built themselves an online reputation by doing and sharing awesome things online. To their audiences, influencers are tastemakers, trendsetters and trusted experts whose opinions about certain subjects are respected.
Many brands just can’t compete with that and so they partner with influencers instead for sponsored posts that help get the word out about their products.
But it’s not just the size and reach of your Instagram account that brands want. It’s your audience’s trust and engagement with your content.
It can be hard to balance your revenue as an influencer and your integrity as a creator, but if you’re not relying on your Instagram income to stay afloat, you always have the freedom to be selective about the brands you work with, just as brands will be selective about the Instagrammers they work with.
How to decide what to charge as an influencer
Typically these influencer deals involve the creation of content—an Instagram post, video or Story—and will sometimes include permission for the brand to use this content on their own site or in an ad.
Most of these deals are negotiable and can involve a single post or an entire campaign in exchange for a fee, a free product, a service, a gift, the promise of exposure, or some combination of these.
Keep in mind when negotiating that you’re not just offering content but access to your audience, a potentially large reach on one of the most popular social platforms around, and usage rights too.
In a survey of 5,000 influencers, around 42% said they charged $200 to $400 per post—just to give you an idea of what some brands are willing to pay, and how to negotiate based on the cards you’re holding.
Finally, it’s important as an influencer to also know your own audience.
What is the make-up of your audience and what is your engagement rate (total engagement divided by your number of followers)? You can dig up numbers to back this up in your Instagram Analytics report, if you’ve switched to a business account. This will help you be prepared when it comes time to negotiate.
How to find brands to work with
If you’re big enough, chances are brands will find you. But you can also look for brands to work with that are on a similar level in terms of personality and values, so your audience won’t feel like you’re “selling out”.
You can reach out to them directly to try to work out a deal, but you can also list yourself on one of the many influencer marketplaces out there to increase your chances of being discovered:
- Shoutcart: Sell a “shout out” to your audience on behalf of a brand.
- Fohr Card: Connect your Instagram, blog, YouTube channel, and other social platforms to create an influencer “card” that shows your different profiles and total reach for brands shopping around for a partnership. You also get access to a list of brands and their wants, so you can take the initiative to reach out too.
- Grapevine: If you have 5000 or more followers, you can list yourself in the Grape Vine marketplace for the opportunity to work with like-minded brands.
- Crowd Tap: Do small content creation tasks to earn rewards. This is great if you’ve got a smaller audience. Available in the U.S only.
- indaHash: Brands put up campaigns that you can participate in. Post a picture with the specified hashtags on Instagram and get paid. You need 700 engaged followers to be eligible.
The rules vary when it comes to sponsored content, but to be on the safe side and respect your audience’s trust, consider adding a #sponsored hashtag to indicate sponsored posts. If you need reassurance, about 69% of influencers in one report said that being transparent about sponsorships didn’t affect how consumers perceive their recommendation.
Instagram also has a “Paid Partnership with” tag that prominently identifies sponsored posts, which some brands might require you to use to disclose your relationship with them.
Become an affiliate
Unlike an influencer, an affiliate is more invested in making sales for the partner brand—not just generating awareness—in exchange for a commission.
This is typically done with a trackable link or unique promo code to ensure clicks actually translate into sales. Since Instagram doesn’t yet allow links anywhere outside of your bio, you can only focus on one product at a time if you choose to rely on affiliate links, making promo codes a better option for Instagram since you can actually incorporate them into your posts.
Note: Instagram has plans to roll out links for Instagram Stories, which will open up new opportunities for you as an influencer.
Consider reaching out to one of the many online merchants that offer affiliate programs that you can participate in. Or you can also explore popular marketplaces like:
- ClickBank: An affiliate platform with a tier-based commission that’s open to everyone.
- RewardStyle: An invitation-only fashion and lifestyle influencer network that offers 20% commissions.
- Amazon’s Affiliate Program: A popular option that pays out a 10% commission.
Though it sounds like a numbers game, affiliate marketing is also an art, and you’ll have a better chance at success if you have a plan going into it and expand your online presence to include a website and other marketing channels.
Audience Awards accelerates emerging filmmakers careers. Go Pro and upload up to 20GB a week, get hired by brands for film work and enter our festivals for free. You can find Audience Awards’ festival and video contests opportunities here.