Instagram is big business for popular influencers and the brands they work with.
Individuals like Kylie Jenner and Selena Gomez are able to command seven figure sums for just one post to brands keen to reach their audience, as highlighted in the annual ‘Instagram Rich List‘, but you don’t need to be a celebrity or have hundreds of millions of followers to make money on Instagram.
In fact, you can turn just thousands of followers into a very profitable way to make a living, with the right professional support. Reach and influence are what brands need and want, and you might well be sitting on both without realising how to monetise your audience.
The best ways to earn on Instagram
Just as with our deep-dive, ‘How to make money on YouTube‘, we’ve put together the various ways we help our roster of influencers, live streamers and content creators to turn their reach and influence on Instagram into revenue.
- Services and courses
- Affiliate marketing
- Sponsored posts
- Brand and ambassadorial partnerships
- Selling licenses to and prints of your content
- Follower support and crowdfunding
Creating merchandise for your audience to buy is a fun and customisable way to build your community, while also earning money.
We work with our talent to identify possible product lines that their audience will love. From t-shirts to phone covers, we help our influencers, livestreamers and content creators to easily create and sell products online. To direct followers to these products, influencers can link to their own online stores that we help to create from bio links, swipe ups, cross-channel promotion – on other platforms and subscriber lists – and by building excitement through posts!
There are great margins and high degrees of creativity available with this option.
Similar to merchandising, we’ve worked with influencers to create services and courses that followers can pay for that relate to their areas of interest and passions.
For instance, an influencer with a particular passion and talent for painting could sell in-person and/or online art masterclasses. An entrepreneur could create related masterclasses in scaling a business. A beauty influencer could create make-up masterclasses.
These courses can be recorded, which means followers can pay for and enjoy them in their own time, or scheduled, bringing fans closer to the influencers they love.
3. Affiliate Marketing
Affiliate marketing is the secret weapon many influencers, live streamers and content creators simply aren’t aware of – but it’s at the forefront of our thinking at Radioactive Talent.
Simply put, brands pay commission for products and services sold as a result of your referral – whether that’s you linking to it from your bio, swipe ups, content itself or simply telling your viewers about a company and/or product using a special referral code or web address, that allows the brand to ‘know’ it was you were responsible.
We broker these affiliate marketing partnerships for talent and brands in multiple sectors, but find it works especially well in e-gaming, travel, health and fitness and arts and crafts.
4. Sponsored Posts
When most people think about earning money as an influencer online, they think about sponsored posts.
This is where a brand would pay a certain amount of money for one post, or a series of posts. These can be image, video or Story posts – or an agreed-upon mix of them all.
It makes sense for brands to pay because it’s a way to reach a relevant audience, capitalising on the reach and influence of the content creators they partner with. Influencers can be seen as taste-makers and are often experts in their chosen areas, which is of huge interest to brands.
We work closely with talent and brands to ensure compliance to regulatory guidelines, as well as to provide a voice of reason and sensibility when brokering paid partnerships and campaigns, having worked in this area for more than a decade.
We understand that integrity and maintaining audience relevance is hugely important to influencers and the brands they work with – with so much choice of who to follow, it’s important to look after both parties.
5. Brand and Ambassadorial Partnerships
As with sponsored posts, brands are often keen to identify talent to work with on a longer-term basis. In the past, this used to be the preserve of more traditional celebrities – think sports stars on the front of cereal boxes.
Now, it could simply be finding the right influencer to invite to a launch event, or unveil as the brand spokesperson.
6. Selling licences to and prints of your content
Related to point 1 and merchandising, services like Printful allow you to sell prints of your content on a variety of products – from pillow cases to phone cases!
7. Follower support and crowdfunding
We work with our talent to identify opportunities where crowdfunding platforms can and could be utilised to increase revenue.
Platforms like Patreon give influencers the ability to offer a range of ‘perks’ to supporters that pledge a certain amount of money, either on a one-off or regular basis, giving fans a way to get exclusive content.
So, you’ve learnt how to make money on Instagram…
If you’re an Instragram influencer that could benefit from our professional support, or a brand that would like to better work with influencers, get in touch!