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How to Make Money on Instagram in 2024 Update


. Collaborate with brands:

Sponsored content is one of the best ways for smaller influencers to make money on Instagram. Influencers can help get a brand’s products and services in front of more people. And brands aren’t necessarily looking for influencers with millions of followers. Those with tight budgets may prefer partnering with smaller influencers with strong engagement and lower fees.

Most of these deals are negotiable and can range from a single post to a series of posts, stories, or reels highlighting the brand’s offerings. In exchange you receive free products or services, gifts, exposure to the brand’s followers, or cash (or some combination).

Influencers are broadly categorized based on audience size.

Here are the five tiers according to Shopify, along with the typical per-post earnings potential for each:

  • Nano. 1,000 to 10,000 followers ($10 to $100 per post)
  • Micro. 10,000 to 50,000 followers ($100 to $500 per post)
  • Mid-tier. 50,000 to 500,000 followers ($500 to $5,000 per post)
  • Macro. 500,000 to one million followers ($5,000 to $10,000 per post)
  • Mega. More than one million followers ($10,000 to $1 million+ per post)

The more followers you have—and the greater your engagement (see “How Much Money Can You Make on Instagram,” below)—the more brands will pay you for sponsored content. If you’re large enough, brands may contact you with partnership offers. Otherwise you can join Instagram’s creator marketplace or reach out to brands that you can authentically promote and that fit your niche. Alternatively, you can use an influencer marketing platform to find opportunities and connect with partners.

Enable ads on reels:

After ending Instagram’s Reels Play bonus program earlier this year, parent company Meta announced that it’s expanding “Ads on Reels,” a performance-based monetization program available on Instagram and Facebook. According to the announcement, “With a performance-based model, creators can focus on the content that’s resonating with their audiences and helping them grow; advertisers get access to more ad inventory to reach more people; and people get a more consistent viewing experience with more relevant ads.”

The amount you earn is based on the number of plays your reels get (not by how much ad revenue you bring in), so the better your reels perform, the more you make. Meta is still testing the program, so it’s not widely available. You’ll need an invite from Meta to be included in the test group.

 Enable badges:

You can earn money with Instagram badges if you have at least 10,000 followers and a business or creator account. Badges let your followers show their appreciation and support for you during live videos (think of them as tips). Once you enable badges via your Instagram profile, they’ll automatically be available during your live videos. When your viewers buy badges, you’ll see hearts next to their usernames.

Once you enable badges via your Instagram profile, viewers can buy them during your live videos in $0.99, $1.99, and $4.99 increments. You’ll see hearts next to their usernames, so you can thank them with shout-outs during your live video and afterward with “thank you” stickers in your stories.


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