Instagram is one of the most popular and influential social media platforms in the world, with over 1.2 billion monthly active users. It offers a variety of ways for creators and businesses to showcase their content, connect with their audience, and monetize their passion. Whether you have a large or small following, a niche or a broad appeal, a personal or a professional brand, there is an opportunity for you to make money on Instagram in 2023.
In this article, we will explore nine actionable ideas on how to make money on Instagram in 2023, with real examples of successful creators and brands who are dominating the space. We will also share some tips and best practices on how to grow your Instagram presence, engage your followers, and optimize your content for maximum results.
1. Collaborate with Brands on Sponsored Content
One of the most common and lucrative ways to make money on Instagram is to collaborate with brands on sponsored content. This is when you create and post content that features or promotes a brand’s product or service, in exchange for a fee or a commission. Sponsored content can take many forms, such as photos, videos, stories, reels, IGTVs, or live streams.
To get started with sponsored content, you need to have a clear and authentic voice, a loyal and engaged audience, and a relevant and attractive niche. You also need to comply with Instagram’s branded content policies and use the branded content tools to disclose your partnerships.
There are two main ways to find and work with brands on sponsored content:
- Pitch to brands directly: You can reach out to brands that align with your niche and values, and offer them your services as an influencer or a creator. You can use platforms like Influence.co or AspireIQ to find potential brands and showcase your portfolio. You can also use tools like HypeAuditor or SocialBlade to analyze your audience and performance, and use them as proof of your value.
- Join influencer marketing platforms: You can sign up for platforms that connect influencers and creators with brands looking for sponsored content. Some examples are FameBit, Upfluence, Tribe, and AspireIQ. These platforms usually have minimum requirements for followers, engagement, or niche, and they handle the payment and contract process for you.
One example of a successful creator who makes money on Instagram through sponsored content is Zach King, a magician and filmmaker who has over 60 million followers. He works with brands like Disney, Netflix, Lego, Coca-Cola, and Samsung, creating amazing videos that showcase his magic skills and the brand’s products.
2. Sell Your Own Products or Services
Another way to make money on Instagram is to sell your own products or services. This is when you create and sell something that you own or have the rights to, such as physical goods, digital products, online courses, coaching, consulting, etc. Selling your own products or services can be very rewarding and profitable, as you have full control over your pricing, branding, and marketing.
To get started with selling your own products or services on Instagram, you need to have a clear and unique value proposition, a high-quality product or service that solves a problem or fulfills a need for your target audience, and a compelling offer that convinces them to buy from you.
There are two main ways to sell your own products or services on Instagram:
- Use Instagram’s shopping features: You can use Instagram’s shopping features to create a seamless shopping experience for your customers. You can set up an Instagram Shop, which is a customizable storefront that showcases your products within the app. You can also tag your products in your posts, stories, reels, IGTVs, or live streams using product tags, which allow your customers to tap and buy your products without leaving the app. You can also use checkout on Instagram, which enables your customers to pay for your products securely and directly on Instagram, without being redirected to another website.
- Use external platforms or tools: You can also use external platforms or tools to sell your own products or services on Instagram. For example, you can use platforms like Shopify, WooCommerce, or BigCommerce to create and manage your own online store, and integrate it with your Instagram account. You can also use tools like Gumroad, Teachable, or Kajabi to create and sell digital products, online courses, or memberships, and link them to your Instagram bio or posts.
3. Join the Instagram Partner Program
A new way to make money on Instagram in 2023 is to join the Instagram Partner Program, which is a program that allows creators to earn money from their content on Instagram. The program has two main components:
- Badges: Badges are a way for your fans to support you financially during your live streams. Your fans can purchase badges during your live streams, and you will receive a percentage of the revenue. Badges also give your fans special perks, such as a heart icon next to their name and access to a special chat with you.
- IGTV Ads: IGTV Ads are short video ads that appear before or during your IGTV videos. You will receive a percentage of the revenue generated by the ads that are shown on your IGTV videos.
To join the Instagram Partner Program, you need to meet certain eligibility criteria, such as having at least 10k followers, being at least 18 years old, and following Instagram’s community guidelines and monetization policies. You also need to apply for the program through the Instagram app, and wait for approval.
4. Become an Affiliate Marketer
Another way to make money on Instagram is to become an affiliate marketer. This is when you promote other people’s or companies’ products or services, and earn a commission for each sale or action that you generate through your referral link. Affiliate marketing can be a great way to earn passive income, as you don’t have to create or manage the products or services yourself.
To get started with affiliate marketing on Instagram, you need to have a niche and an audience that is interested in the products or services that you promote. You also need to find and join affiliate programs that match your niche and offer attractive commissions. Some examples of popular affiliate platforms are Amazon Associates, ShareASale, ClickBank, and Rakuten.
There are two main ways to promote your affiliate links on Instagram:
- Use your bio link: You can use your bio link to direct your followers to a landing page where you showcase your affiliate products or services. You can use tools like Linktree, Bio.fm, or Taplink to create a landing page with multiple links, and track the clicks and conversions.
- Use swipe-up links: You can use swipe-up links to direct your followers to your affiliate products or services directly from your stories. However, this feature is only available for accounts that have at least 10k followers, are verified, or are part of the Instagram Partner Program.
5. Create and Sell Your Own Content
Another way to make money on Instagram is to create and sell your own content. This is when you create original and valuable content, such as photos, videos, graphics, illustrations, etc., and sell them to other people or platforms who need them. Creating and selling your own content can be a creative and fulfilling way to monetize your skills and passion.
To get started with creating and selling your own content on Instagram, you need to have a niche and a style that sets you apart from other creators, a portfolio that showcases your best work, and a pricing strategy that reflects your value and quality.
There are two main ways to create and sell your own content on Instagram:
- Use content marketplaces: You can use content marketplaces that connect creators with buyers who need content for their projects. Some examples are Shutterstock, Getty Images, Adobe Stock, and Unsplash. These marketplaces usually take a percentage of your earnings as a fee, but they also provide exposure and security for your content.
- Use direct sales: You can also use direct sales to sell your own content on Instagram. This means that you find and negotiate with buyers yourself, without using any intermediary platform. You can use platforms like PayPal, Stripe, or Venmo to accept payments, and tools like WeTransfer, Dropbox, or Google Drive to deliver your content.
One example of a successful creator who makes money on Instagram by creating and selling his own content is Murad Osmann, a photographer who has over 4 million followers. He creates stunning photos of his travels around the world with his wife, and sells them on his website and on Shutterstock.
6. Offer Paid Shoutouts or Mentions
Another way to make money on Instagram is to offer paid shoutouts or mentions. This is when you give exposure and recognition to another person or brand on your Instagram account, in exchange for a fee or a reciprocal shoutout. Offering paid shoutouts or mentions can be a quick and easy way to earn extra income, as you don’t have to create any content yourself.
To get started with offering paid shoutouts or mentions on Instagram, you need to have a large and active following, a niche and a reputation that attracts potential clients, and a clear and transparent policy on how you charge and deliver your services.
There are two main ways to offer paid shoutouts or mentions on Instagram:
- Use shoutout platforms: You can use shoutout platforms that connect creators who offer shoutouts with clients who need them. Some examples are Shoutcart, Plug Hype, Buy Sell Shoutouts, and FameSwap. These platforms usually take a percentage of your earnings as a fee, but they also provide convenience and security for your transactions.
- Use direct deals: You can also use direct deals to offer paid shoutouts or mentions on Instagram. This means that you find and negotiate with clients yourself, without using any intermediary platform. You can use platforms like PayPal, Stripe, or Venmo to accept payments, and tools like Instagram Insights, SocialBlade, or HypeAuditor to track and report your results.
One example of a successful creator who makes money on Instagram by offering paid shoutouts or mentions is Sara Underwood, a model and influencer who has over 10 million followers. She offers various types of shoutouts, such as stories, posts, reels, IGTVs, or live streams, on her website and on Shoutcart.
7. Host Paid Events or Workshops
Another way to make money on Instagram is to host paid events or workshops. This is when you organize and deliver live or recorded sessions that provide value and education to your audience, such as webinars, masterclasses, Q&A sessions, tutorials, etc. Hosting paid events or workshops can be a great way to showcase your expertise, build trust and credibility, and generate revenue.
To get started with hosting paid events or workshops on Instagram, you need to have a niche and a topic that attracts and interests your audience, a clear and engaging presentation style, and a reliable and secure platform to host and sell your events or workshops.
There are two main ways to host paid events or workshops on Instagram:
- Use Instagram’s live features: You can use Instagram’s live features to host live events or workshops on your Instagram account. You can use badges to receive tips from your viewers during your live streams, or use Live Rooms to invite up to three guests to join your live stream. You can also use IGTV to save and share your live streams after they end.
- Use external platforms or tools: You can also use external platforms or tools to host paid events or workshops on Instagram. For example, you can use platforms like Zoom, WebinarJam, Crowdcast, or Eventbrite to create and sell tickets for your events or workshops, and link them to your Instagram bio or posts. You can also use tools like Loom, Camtasia, or ScreenFlow to record and edit your sessions, and upload them to your website or online course platform.
8. Build and Sell Your Own Community
Another way to make money on Instagram is to build and sell your own community. This is when you create and manage a group of people who share a common interest, goal, or problem, and provide them with value, support, and engagement. Building and selling your own community can be a rewarding and sustainable way to monetize your influence, as you can create loyal and long-term relationships with your members.
To get started with building and selling your own community on Instagram, you need to have a niche and a purpose that attracts and unites your audience, a clear and attractive value proposition that convinces them to join your community, and a reliable and secure platform to host and manage your community.
There are two main ways to build and sell your own community on Instagram:
- Use Instagram’s group features: You can use Instagram’s group features to create and manage your own community on your Instagram account. You can use close friends to create an exclusive list of followers who can see your stories, posts, reels, IGTVs, or live streams. You can also use guides to create curated collections of posts, products, or places that you recommend to your members. You can also use DM groups to create private chats with up to 32 members, where you can share messages, photos, videos, voice notes, etc.
- Use external platforms or tools: You can also use external platforms or tools to create and sell your own community on Instagram. For example, you can use platforms like Patreon, Substack, Circle, or Mighty Networks to create and sell memberships for your community, and link them to your Instagram bio or posts. You can also use tools like Discord, Slack, or Telegram to create and manage chat groups for your members, where you can share content, resources, feedback, etc.
One example of a successful creator who makes money on Instagram by building and selling his own community is Tim Ferriss, an author and entrepreneur who has over 1 million followers. He creates and sells memberships for his community on Patreon, where he offers exclusive content, Q&A sessions, book club access, etc., and promotes them on his Instagram account using stories and posts.
9. Write and Sell Your Own E-books
Another way to make money on Instagram is to write and sell your own e-books. This is when you create and publish digital books that provide value and information to your audience, such as guides, manuals, recipes, stories, etc. Writing and selling your own e-books can be a rewarding and scalable way to monetize your knowledge, skills, or passion.
To get started with writing and selling your own e-books on Instagram, you need to have a niche and a topic that attracts and interests your audience, a clear and engaging writing style, and a reliable and secure platform to create and sell your e-books.
There are two main ways to write and sell your own e-books on Instagram:
- Use Instagram’s e-book features: You can use Instagram’s e-book features to create and sell your own e-books on your Instagram account. You can use e-book tags to tag your posts as e-books, which allow your followers to buy them using their preferred payment method. You can also use e-book Shop to create a customizable storefront that showcases your e-books within the app. You can also use e-book Insights to track and analyze the performance of your e-books.
- Use external platforms or tools: You can also use external platforms or tools to create and sell your own e-books on Instagram. For example, you can use platforms like Amazon Kindle Direct Publishing, Kobo Writing Life, Smashwords, or Draft2Digital to publish and distribute your e-books on various online stores, and link them to your Instagram bio or posts. You can also use tools like Google Docs, Scrivener, or Canva to write and design your e-books.
Instagram is a powerful and versatile platform that offers many opportunities for creators and businesses to make money in 2023. Whether you want to collaborate with brands, sell your own products or services, join the Instagram Partner Program, become an affiliate marketer, create and sell your own content, offer paid shoutouts or mentions, host paid events or workshops, or write and sell your own e-books, there is a way for you to monetize your passion and influence on Instagram.
However, making money on Instagram is not easy or fast. It requires hard work, dedication, creativity, and consistency. You also need to follow Instagram’s rules and policies, respect your audience and clients, and provide value and quality in everything you do.
If you are ready to take your Instagram game to the next level and start earning money from your content, follow the tips and best practices we shared in this article, and use the tools and platforms we recommended. You will be surprised by how much you can achieve and earn on Instagram in 2023. Good luck!
To learn how to monetize your TikTok account, please read the following: Make Money on TikTok
