DISCLAIMER: Links included in this post might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting me so I can continue to provide you with free content each week on my blog and on my YouTube channel!
The days of Instagram not paying their creators is no more! And it’s about time. You can now monetize on Instagram.
Yes, it’s obvious Instagram is behind the game on paying its creators, but at least they’re finally seeing the value in it. They are also pushing many more monetization tools.
In a recent article published by FaceBook (which owns Instagram), they announced they will be investing $1 billion into creators on their platforms through various ways. Instagram also has an article talking about the different ways you can start making money on their platform.
It’s pretty exciting stuff. That’s why in this post, we’re going to break down ALL the ways you can monetize directly on Instagram.
Monetization Tool #1: Reels + IGTV Ads
IGTV ads have been a thing since mid-2020, so that may not be as new, but Reels ads are a new feature.
This is basically like YouTube Ads but for Instagram. Businesses can now pay to have their advertisements roll at the beginning of creators’ IGTV videos. Just like on Youtube, ads that play as people watch your content will benefit you!.
Now that you can monetize Reels and IGTV, there’s something you have to keep in mind: music.
Just like how on YouTube you have to be extremely selective about what music you use to keep your videos monetized, the same goes for IGTV and Reels.
To maximize your ability to monetize your posts on IGTV and Reels, I highly suggest using royalty-free music. There are plenty of ways to go about getting royalty-free music, but I believe Epidemic Sound is the best resource for this.
It’s especially useful if you’re a creator on other platforms since you can pick music cleared for YouTube, FaceBook, Instagram, Twitch and podcasts.
Monetization Tool #2: Live Badges
If you’re a fan of Twitch, this tool may be very familiar to you. Similar to how you gift subs to streamers on Twitch or YouTube, you can now give badges to your favorite creators on Instagram Live.
As a creator, when you are live on Instagram, your followers can send you badges that they purchase in support of you.
I love this tool because it gives fans more opportunity to show their love and support for their favorite creators.
This feature is obviously more beneficial to creators who already have a large following, but that doesn’t mean smaller creators can’t use it. Start using it as early as you can. That way when you grow, you already have a solid, established fanbase you can rely on.
And if you need help growing your Instagram, feel free to check out my Instagram course. It can help you grow your audience and your brand so you can benefit even more from these monetization tools.
Monetization Tool #3: Affiliates/Shopping
This is the tool that makes me the most excited.
We all know about the shopping tab and the ability to shop on Instagram. BUT did you know that they are expanding that for creators?
As a creator, you can now have your followers shop directly on your page using affiliate links so you can make a percentage of the sale. This way you don’t have to direct your followers to other platforms.
You can still earn your affiliate percentage through Instagram directly.
The great thing about this tool is that you can sell your own products and refer your followers to other products using affiliate links all on one platform.
To get the affiliate link, just go to any business’s page on Instagram, go to their shop tab, create the link and add it to your shop page. Now if anybody buys that business’s product through your shop, you will earn a percentage. Yes, it’s that simple.
Monetization Tool #4: Bonuses
Bonuses on Instagram are only available to a limited number of creators and business accounts and you have to actively enable it if you’re eligible.
There was a summer bonus program that ended on August 31st, 2021, and was tested on only a select few accounts. In the program, you were given a bonus if you reached a certain level of activity, hit a certain number of views on Reels, etc.
(ex: If you go LIVE for 30 minutes with another creator, you get $150!)
Now, this was a tool that Instagram was testing, but that’s not to say that they won’t bring it back. If according to their test, bonuses encouraged creators and users to be on their platform longer, I wouldn’t be surprised if they bring it back indefinitely.
If they do, this would be the perfect way to monetize your Instagram while you’re still growing your Instagram, even if you’re just starting.
Monetization Tool #5: Brand Collaborations
This one is the most popular because we are the most familiar with it AND it’s because you can make the biggest monetary gain from it.
Facebook recently started growing a program called “Brand Collabs Manager” which connects brands directly to influencers using their platform. They also recently rolled out the tool onto Instagram as well, but since it’s relatively new, you can expect updates and expansions as it grows.
Honestly, I could talk about brand collaborations for hours since there’s so much that goes into it, but that would make this post way too long. If you want more in-depth information on making the most of branded content, watch my video here.
Go Monetize Your Instagram
Those are the best ways you can make money on Instagram. And the best part is you can start making the most of the tools no matter how big or small your following currently is.
Instagram is always growing, changing and adapting. I wouldn’t be surprised if there are even more ways to earn money in the very near future. So keep your eyes and ears out for that because you know I will update you as soon as I find out.
In the meantime, I want to hear your thoughts. Let me know in the comments which monetization feature you’re looking forward to the most or you will probably use the most.
Is there anything I missed? How do you make money as an influencer or creator on Instagram?
Follow your joy!