Is it possible to make money on Instagram as an influencer?
The trend nowadays everyone wants to become an influencer. The amount of money these influencer’s make is insane. This could be $50 to hundreds of thousands depending on many factors. Being an influencer does not seem to be a job or work, all you have to do is post something on your Instagram and probably your lifestyle and the niche that you are in. This is why a lot of people want to be influential in some way. Some solely want to do it for the money, but you rather choose something you adore and love to do every day.
You may read also How to build an amazing Instagram feed with User Generated Content.
suggested Reading Best Courses to make money on Instagram on Udemy 2020
You have to be attractive to brands….
As an influencer, you don’t need certainly to have millions of followers to make money and get paid. You could literally start getting paid from as little as 1K followers. The first thing obviously most brands/companies would look at; the follower count.
This is like noticing a restaurant with a long queue, the first thought that comes to mind is that the food must be good, but it could be just that the restaurant is making charity work providing food for people who are in need in the neighborhood as part of some community program.
NOT everything as it seems. But hold on this blog will explain more on all the metrics needed.
There are different metrics that should be looked at for different industries….
To generally clarify, there are :
Three methods you can start generating money from Instagram:
- Your niche. Some niches are very lucrative and brands from the same niche would be willing to pay more. Cosmetics and makeup industry is considered one of the highest made margins.
- Followers count? How many followers do you need, it depends on the tactics and the marketing strategies used with respect to the niche you are in.
- Your follower’s engagement. Most of the brands are concerned about this metric “engagement rate”. What if you have a very huge number of followers, but they are not paying attention to what you saying.
Your Niche matters …
Some of the most profitable niches on Instagram are Luxury, Fashion Travel, Beauty, Health/Wellness/Fitness, Wealth/Finance and lifestyle.
Taking these niches into consideration and the idea that most people purchase based on a recommendation from people they trust. I myself will only buy if my friends recommended me a product especially if I am in doubt or about to make a purchase. Word of mouth is one of the most effective ways in marketing for a long time and still has been
If you think of it now, these influencers are actually word mouthing YET at a very high scale and imagine if they have a great following and they have built a tribe that supports them.
Engagement is Everything …. Is an attention Game…
You could buy sometimes fake users but nobody is listening. Even though it shows thousands of followers. The idea here is that if you are not providing constant value whether it’s an entertaining or educational content, why should they keep attention to you, you’re just another account to them.
And sometimes you might want to wait for your followers to reach a certain number to develop trust and loyalty to your posts before you start monetizing your Instagram.
Another sensible thing to do is to be selective of brands or products you going to share for your network. This will increase your value as an influencer and big paying companies start looking for you.
Let me give you an example, 1K follower with an engagement rate of 50% is more valuable than 10K followers with 4% engagement rate.
It is not Just a numbers game …
It is an attention game…
Brands would obviously take note of how much return you made them from the investment they put in.
You can’t fool followers and most certainly you can’t fool brands.
Stay real to your audience and compelling to brands
Being authentic is very important in this business, people would sense if you are trying to sell them…
Start with something that you are passionate about and not concerned in the beginning to make money. There will be a time when you feel is right.
When do you know the time is right
You know it when you have given them so much to be entertained/educated that if you would have asked, they buy from you.
You start with giving and giving …then the right course of taking becomes simple.
To put this into perspective, clearly you could start making money from 1K followers but authenticity and telling your real voice about these brands matters rather than just selling. Clearly, not every product is going to your favorite and so fewer people would feel the urge to buy.
People sense selling … Nobody is stupid
Now when you have a product of your dream and your followers are very loyal and attentive to what you say, and you have grown your number of followers to a substantial amount …imagine the astronomic ROI from one post.
It is all about positioning yourself, are you the junky who pretends to like everything and promote anything you see, which certainly would make you money … because some people are already making the decision to purchase that product and they saw your post about some promotion. don’t just plan for coincidence.
Keeping it real and true with your audience, and one post could have the greatest ROI
Since it’s important to keep it visual, how many followers wanna-be influencer should target!
Aim for 10K. Brands are looking for audiences that are large enough to have an impact on sales. But small enough to guarantee strong engagement. That is why you should aim at least 10k followers before you can start earning good money on Instagram. This number still remain relative to the context. Put things into perspective and test what could best for you.
Ways to make money on Instagram as an influencer
- Sponsored posts for brands
- Affiliate marketing to gain commissions from every sale you make from branded products
- Creating or selling your digital or physical product/service.
- Selling license from your photography.
How to find brands to work with
Conclusion: Do you need a lot of followers to make money on Instagram?
An influencer is a marketer. Marketing is a creative work, it’s an art in a sense. It a unique periscope; seeing things that otherwise out of sight virtually or physically apparent. People are really curious about so many things and these new eyes make it more engaging and entertaining even for things that we considered for a while to be boring like education or DIY crafty content.
Creativity and respect for your followers are all there is, however, consistency is a major factor that drives your influential road. The industry you are in matters. There are generally products/services that make higher margins than other ones. Nevertheless, don’t take the advice of picking up a niche based on markup margins especially in the beginning. Just pick something you love yourself to keep the pace and the energy to produce as much as you can. The more you do the better and more creative you become.
It is very difficult in the beginning to be creative unless you have been doing it for a long time. For example, let’s say you love football, and you have been playing and watching games for as long as you can remember, and maybe you are talented, therefore, creating a creative right away is simple, but if not, watch out for other successful Instagrammers in your category. Check out the type of brands you would want for your Instagram page. From there start putting out content as much as you can until you figure out what you can do best and what people respond to more.
Obviously, finding out the best of you and what you can create makes attention rolling is not that easy. Another thing, at this stage a lot of people spend time planning or wasting it on excuses, just do it.
Remember this, your profile must not lack passion and authenticity which makes up for good and easy way to success.