How to Make Money on Instagram? A Practical Guide in 2020

How to Make Money on Instagram? With the pandemic wreaking havoc in the world, and people staying indoors, more people are online than ever before. More people are using social media. The 24×7 online generation is creating accounts on various social media sites and connecting with their family and friends.

Initially, social media was about chatting with people, relaying information, making people aware about products and services. But as more and more people join various social media sites, its usage is constantly evolving.

People are using social media to perform a variety of tasks. Gathering information, audio & video calling, brand promotions, marketing, buying and selling goods & services and earning money from online ads are some of these tasks. 

In this article, we will learn how you can easily make money from social media sites. All you need is a computer and internet connection at home. We will discuss the topic ‘how to make money on Instagram’ in detail.

What is Instagram? 

Instagram is a social media website that enables you to upload your photos and videos and share it with people. Very similar to Facebook and WhatsApp, but with a totally different look altogether. Instagram is a photo-heavy platform, with less emphasis on text or captions.

Needless to say, there is an Instagram app for your android smartphones that can be easily downloaded from the Google Play store. Instagram was first launched in the year 2010 and in the last 10 years it has grown in popularity. With 1 Billion+ monthly active users who spend an average 53 minutes daily on its platform, Instagram is only second to Facebook in popularity.

With the help of Instagram, you can also increase your followers on Facebook, YouTube, Twitter and LinkedIn.

Who is the Founder of Instagram?

Kevin Systrom is the founder of Instagram. He founded the world-famous app in 2010. Within 2 years of its operations, Facebook bought the company in an all-cash deal of USD 1 Billion!

How to Make Money on Instagram?

Find detailed instructions on how to make money on Instagram in the points below. The below paras will help you understand how it is easy to make money off social media sites like instagram. Provided you are consistent and devote time to posting and interacting with your followers.

By Promoting a Brand 

A lot of well-known brands choose to promote their products via social media sites. Take for example this account on Instagram: kobe_yn. Managed by Kobe’s parents, this page is about a 1 year old baby girl who merrily eats whatever her mother cooks in the kitchen. The parents shot 1-minute videos, consistently uploaded it and within months they have a whopping 2.5 million followers on Instagram.

How to Make Money on Instagram

With this huge fan following, well known brands like Walmart, Kroger are now collaborating with the creators to promote their brands. So you have paid product partnerships where the baby is shown drinking a certain juice brand or enjoying a certain cereal. With these brand promotions, the page owners make a lot of money.

How to Make Money on Instagram

Big corporations choose accounts with large fan followings. Depending on how many followers your page has on Instagram, the brands pay you for promotions.

With Affiliate Marketing

If you are aligned with an e-commerce website, you can also earn commissions from affiliate marketing. You will have to create affiliate marketing accounts on Amazon or Flipkart. Share their affiliate links on your Instagram page. If anyone happens to buy products on Amazon through your affiliate link, you earn a commission.

This is another way you can earn money on Instagram, all you have to do is insert an affiliate link in your profile.

Via Selling a Product

If you own a company and manufacture or resell products, Instagram is a great platform for your business. All you have to do is upload a product photo and enter price details in the description. If you provide adequate details for people to read and research, they will use the link on your page and make online purchases. 

Ensure that you have an adequate number of followers and high engagement. For that a business has to constantly monitor the page. A team needs to be active, to answer questions, to respond to customer messages etc.

By Selling High-Quality Photos

A lot of people have photography as a hobby. Most of these folks travel abroad, to exotic destinations and capture high-quality images on their DSLRs. If you are one such person, Instagram is the perfect platform for you. This photo-heavy social media platform is hungry for world-class photos.

I will cite the example of “The Sartorialist”. Back in 2005, Scott Schuman started his photo blog. He carried that over to Instagram and became world-famous for his photography. With 1.1m followers and 4 books under his belt, he is basking in the glory of his hobby.

The Sartorialist

Scott Schuman’s books sell for USD 70 and above. He collaborates with multiple brands in the US and abroad and earns by monetizing his elegant photographs.

By Selling an Instagram Account that has a Lot of Followers

If your Instagram account has a lot of followers, you can choose to sell off your account and make money. You have to ensure that these followers are also engaged on your page. 

Because of a high number of followers and their engagement, brands are likely to choose your account as a marketing medium for their products. Which also prompts them to buy your account, if you choose to sell it.

Influencer Marketing

If you have a lot of followers on Instagram, brands look up to you as Influencers in the market. A lot of these Influencers endorse products and services for a fee.

Sorav is not only an Instagram Influencer, he also teaches people to become one!

Instagram Influencers
Teach as an instagram influencer

These are the six methods that answer the question “How to make money on Instagram”. I hope you liked the post. Let us know in the Comments section, if you have any questions or clarifications. If you learnt something new, please share by using the social media buttons on your left. Thank you so much for reading.