Instagram is the fourth most popular social media site, with over 25 million businesses promoting their products and services. These data show how popular the platform is familiar among businesses and influencers. In short, the options for growth on Instagram are endless. Anyone willing to take advantage of these opportunities has the potential to make money from Instagram reels. Yes! You heard it right! With the introduction of Instagram Reels, a new avenue has opened up for content creators and influencers to monetize their skills and creativity.
Whether you are searching for a side hustle or full-time work, there are numerous ways to make money on this platform. However, success will not come overnight, especially if you start with a tiny account. Prioritizing research and hard work is essential for steadily developing your account and earning a significant income. Here are tips to make money from Instagram reels in 2024.
How Many Instagram Followers Does One Need to Make Money?
You may think having more followers is essential to make money from Instagram. But it’s not like that!
How your followers engage with your reels matters. Do you have thousands of followers and dream of starting to make money on Instagram? Will it be effective? Definitely not! Whether you have 5,000 or 10,000 followers, your followers must respond to your reel.
Ways to Make Money on Instagram Reels
Earning money on Instagram reels is an effective way. There are many possible ways to make money on Instagram reels. Here are some of the most familiar methods:
1. Partnering With Brands
Yes!! Partnering with brands is the most popular way for creators to make money. One of the benefits of brand partnerships is that you may set your own costs and charge brands for creating a Reel, or series of Reels, to market a product or service.
Are you new to influencer marketing? Is determining acceptable pricing and developing solid relationships with brands might be overwhelming? If so, then first work with an agent to get things started.
Agent or no agent, the greatest way to begin is by connecting with brands you want to work with on social media. Follow them, engage with their material, conduct in-depth research, and obtain the contact information for their social media manager or partnership manager. Of course, direct messaging is always possible, but everybody knows how easy it is to become lost in the Requests folder.
After learning everything about the brand and influencer marketing, you can collaborate with a specialist. Generally, creators with more than 100,000 followers frequently collaborate with a specialist to help them manage brand partnerships. Remember, your audience’s trust is the most essential weapon in your creative kit, so don’t sacrifice it just to make some extra cash.
2. Join Affiliate Programs
Do you know what affiliate programs are? Affiliate programs are marketing partnerships in which retailers pay commissions to external partners, known as affiliates, to generate sales or website traffic.
In general, online platforms enable marketers to create personalized links that they may share with their audience. When someone clicks the link and makes a purchase, the marketer earns a commission. Affiliate social media marketing is profitable for making money since it enables Instagram influencers to promote recommended products while earning a passive income from bespoke links.
To begin, switch your Instagram account to a creator account. This will give you access to the Instagram Shopping function and allow you to connect your account with affiliate programs. This will enable you to link to products on other websites in exchange for a commission when someone purchases after clicking on one of your posts.
Many larger organizations and prominent brands have personalized programs you can join and begin advertising immediately. Or else, you can contact companies and brands in your field that offer affiliate programs. This is a terrific way to generate money online while supporting local companies and helping your community.
3. Enable Instagram Gifts
First, Instagram’s Reels Play promotion program, which ended in 2023. Then, the Instagram Gifts feature was introduced as the new way for creators to make money with Reels. So, how does this work?
Instagram Gifts enable creators to receive support and earn money from followers who enjoy their content. Creators who are eligible to accept Gifts will have a “Send Gift” option as an addon on their Reel clips. Viewers can purchase sticker-type presents and give different amounts of cash in the form of Stars. Each Star a creative receives from followers is worth USD 0.01. For example, if a follower sends you a present worth 100 Stars, you will receive the equivalent of $1 USD.
Does everyone become eligible to get Instagram gifts? No! There are a few things to consider. You must:
- Have a creator account
- Must be at least 18 years old
- Accept Instagram’s monetization policies.
- Have at least 5,000 followers.
- Be in an area where Gifts are accessible.
If you are satisfied with all the above mentioned terms, then congratulations. Now, you can buy the Instagram special feature called Instagram Gift.
4. Promote Your Own Brand
Of course! You can promote your brand on Instagram and earn from it. If you have built a strong Instagram brand or believe you have something special to offer, try opening an online store.
Having so many products available and thus confusing to choose the right one? If so, here are some suggestions to help you select the right products for your brand:
- Clothing and apparel
For many people, the craziness of dress shopping never gets old. So, starting a clothing brand and promoting it on Instagram reels will result in better earnings. Try to provide unique collections and promote them in a unique way.
- Jewelry and accessories
Jewelry and accessories are next to clothing. Create a unique collection of accessories. Your brand must be of high quality to reach a wider Instagram audience.
- Home décor items
Recently, people have been spending money to buy home décor items. There are already tons of home décor items available, so create a product that is different from your competitors.
- Beauty and wellness products
Seriously, this list won’t be complete without beauty and wellness products. The market for these products will never fade. Generally, if you scroll Instagram, you will see the promotion of beauty and wellness products. Even starting your brand on beauty and wellness products will give you a better income.
Still, there are many opportunities available. Once you have decided what you want to sell, create the product and set up an online store with an e-commerce platform. Next, integrate your online business with Instagram Shopping.
5. Launch a Course
Is launching a course on Instagram will give you better income? Yes!! When you implement it correctly, definitely you will see some good source of income. Recently, teaching on Instagram is becoming an increasingly popular approach for people to share their knowledge and skills with a wider audience.
This social media network allows educators to rapidly and easily contact a global audience of learners. Creating a paid online course is one of the finest ways to take advantage of these platform possibilities. This technique enables instructors to generate quality information their audience can purchase and access as needed. In addition, teachers can use Instagram to market their classes and attract new students.
Do you need an idea of where to start? Here are the best examples of possible paid courses:
- Photography
- Instagram marketing strategies
- Social media content creation
- Business administration and management
- Life coaching and mentoring
- Event planning and coordination
- Personal branding and networking
- Lifestyle blogging and podcasting
For instance, if you are a pro in photography, you can start to launch a paid course on photography. But you must be professional and familiar with all the things in photography.
To increase awareness of your course, consider developing a landing page on your website or blog where users can learn more and sign up. Link it back to your Instagram account and promote it in your bio so that people can easily find out more information and discover what other courses you offer.
6. Private Consulting and Coaching Services
Do you have special knowledge or skills and prefer one to one interactions? If yes, consider offering private consulting and coaching services to people who need help. Are you looking for the best platform to reach people? If so, then it Instagram will be the best choice.
Instagram allows you to share your knowledge and experience through stories, photos, and videos. Use hashtags to ensure that the right individuals see your postings and are interested in hiring you for your services.
Some of the ideas for potential consulting and coaching services include:
- Business strategy and development
- Digital marketing strategies
- Social media management
- Financial planning and investment advice
- Business coaching and mentorship
- Web design and development services
- Content marketing consultation
- SEO optimization
Offering a free consultation is a great approach for influencers to demonstrate their skills and services while also garnering potential clients’ trust. Offering clients the opportunity to learn about what you have to offer without making a cash commitment is frequently the best method for entrepreneurs to create relationships with potential customers.
Although it is important to highlight the types of services you provide and how they benefit your clients, you should equally avoid overselling yourself. You don’t want to come out as too aggressive or sales-oriented, which can turn off many potential customers. Instead, focus on offering useful information about your skill set and experience to persuade clients to schedule an appointment with you.
7. Create UGC for Brands
Another way for content creators to earn a lot of money is to make money from Instagram Reels through user-generated content (UGC) collaborations with marketers.
The capacity to generate authentic-feeling, high-converting material for brands is critical to UGC content success. When a brand pays for user-generated content, it searches for relatable and interesting content to share on its social media platforms to promote its business.
Unlike common influencer sponsorships, marketers looking to collaborate with UGC creators are more concerned with their ability to create high-quality, personalized content than with the size of their audience. Yes! Correct. Even if you don’t have a large Instagram following, if you can demonstrate to businesses that you can generate scroll-stopping Reels, you might make a lot of money through UGC deals.
Do you have a question in mind about how to create a UGC for brands? It is essential to do some research on the brands you want to work with, and then contact them to show your real interest in creating UGC for them. Of course, you will need to impress brands with your prior work or UGC samples, so make sure to email them your portfolio.
8. Start an Instagram Subscription
Have you heard about Instagram subscriptions? Instagram subscriptions allow users to pay a monthly fee to access unique content. This is an excellent option for content creators and influencers who want to earn consistent monthly passive income.
Are you looking to know the advantages of buying an Instagram subscription? If so, subscribers get access to the following features:
- Subscriber badges: Have you ever seen a purple badge in the comments? It is the subscriber badge.
- Subscriber lives, stories, and chats: Subscribers have access to exclusive content, and creators can host exclusive discussions for up to 30 subscribers at once.
- Subscriber home: A unique hub for all exclusive subscriber material.
As an influencer with a subscription option, you also have access to subscriber promos, which allow you to activate offers meant to help you develop and retain customers. For example, you may give a 50% discount to your next five subscribers or a free month if they attempt to cancel.
Final Words
Strategically using an Instagram account is an excellent approach for entrepreneurs to generate income. By engaging with followers and establishing trust, you may develop a loyal following of people interested in what you offer. If you want to make money in Instagram reels, first find out your interests and work on them. Definitely, you will have an inspirational creator. So follow them and start from scratch.
