How To Monetize Instagram In 11 Different Ways

How To Monetize Instagram In 11 Different Ways

May 5, 2022 12 min read

Instagram is much more than just a fun place to post your holiday snaps. In fact, Instagram is a career for many people. Thousands of Instagram creators and influencers make millions of dollars every year on the platform (you could, too, be one of them).

All you need to know are some of the possible Instagram features that will help you monetize Instagram and meet some prerequisites.

If you have ever wondered how to monetize Instagram, you have come to the right place! This blog will walk you through the top methods used to make money from Instagram content.

We have curated a list of 11 legit and trusted ways to monetize your Instagram account. Keep reading this blog to learn how to monetize your Instagram!

You can directly jump to a section of your choice or keep scrolling.

How Many Followers Are Needed To Monetize Instagram?

You can try Instagram monetization at pretty much any point in your growth journey. You can even make some money when you only have a few hundred followers.

However, you are likely to be much more successful with a small but genuine following. There are a few reasons for this.

Although high levels of engagement are a plus, there are several brands that have lower engagement with a larger following.

This all comes down to what you want to achieve in your marketing campaigns. Some brands want to reach as many people as possible, & they can't do that effectively with a small following.

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Image Source: Walmart Instagram

In addition, converting engagement into sales becomes a lot easier once you hit a few thousand followers.

Earlier, Instagram allowed accounts with more than 10,000 followers to add a swipe link in their stories. However, Instagram soon removed this follower count criteria. So now, even accounts with less than 10,000 followers can add a link in their stories.

Attracting followers to your Instagram account is hard work, but you can use the tactics described in this blog to learn how to monetize Instagram.

Prerequisites For Instagram Monetization

There are many brands that only depend on Instagram for making sales, but that success doesn't happen overnight. To be able to monetize Instagram, there are certain prerequisites your account should meet first.

However, these prerequisites are not set in stone. If you want to make sales from Instagram, here's what you should have in place firstly:

You Should Have A Loyal & Engaged Audience

One of the major benefits of Instagram influencer marketing is the loyalty and trust you have built with your audience. Influencers can leverage it to reach their goals, whether to boost sales or drive brand awareness.

Loyal followers who trust you will also trust your recommendations. This shows you have built up a good relationship with your followers. It also ensures that the sponsored content you create will resonate with your audience.

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Image Source: Statusbrew Instagram

That's why having a loyal following is so essential. If you show that you have a loyal following, other brands will also be willing to partner with you for sponsored posts.

You will know if your audience is engaged by their questions and comments. If you have a high following but low engagement on several posts, it's quite obvious that the majority of your followers don't interact with your post actively. This will make it hard for you to monetize Instagram.

When other brands are interested in working with you, they will consider your follower count. But what's more critical to them is that your followers are loyal, and they engage with your content.

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Image Source: Starbucks Instagram

You Should Have Influence Over Your Following

You should be a trendsetter and also have real power to persuade.

A loyal and engaged following is easier to influence. They do not just want to be part of your community but also – most importantly – they value what you say.

If you have mastered the art of customer engagement, you shouldn't have a problem when it comes to Instagram monetization. You will have a good idea of your followers' tastes and how they respond to different types of brands and sponsorships.

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Image Source: Walmart Instagram

Paying for fake followers and taking shortcuts to grow your audience will be the wrong move in the long run. Paid followers will lead to a drop in engagement, which is quite easy to spot. This will make it harder for you to monetize Instagram.

Plus, paying to buy followers can land you in deep trouble. If recognized by Instagram, they can block your account. You will also damage your brand's credibility not just on Instagram but on other social platforms as well. It will break your audience's trust in your brand and potentially face legal troubles. Thus, it's really not worth the risk.

You Should Have An Instagram Business Account

An Instagram business account gives access to more Instagram features. It’s easy for anyone to convert their personal account to an Instagram business account.

An Instagram business account gives you access to Instagram ads and promoted posts, providing you with an extra edge to grow your reach and engagement. Below is a list of all the awesome features you will get by switching to an Instagram business account:

  1. Schedule Instagram posts
  2. Track performance with Instagram Insights
  3. Share links in Instagram Stories
  4. Grow reach with Promoted Posts and Instagram Ads
  5. Instagram Shoppable Posts

11 Instagram Monetization Features

Whether you are working with clients or you are building a brand of your own, here are Instagram monetization features worth considering in your overall strategies:

1. Instagram Shop

Also abbreviated as IG Shop, Instagram Shop creates an in-app shopping experience for customers that eliminates purchase barriers and gives brands another avenue to increase sales and brand visibility.

Customers are directed to the brand's website through IG Shop. They can even have a fully immersive in-app shopping checkout experience within the Instagram app itself. Both can become highly effective ways to leverage product sales. However, it's essential to determine which one works best for you since you cannot mix these two options.

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Image Source: Instagram

Instagram has partnered with great third-party platforms, such as Euclid and Shopify, which are premier partners with IG Shop, to improve and streamline the orders and shipping processes. Brands are able to streamline their shopping experience for customers through these platforms.

Using shoppable Instagram posts is one of the best ways to advertise your business on the platform. This Instagram monetization feature is perfect for you if you already have an existing online business. Instagram shoppable posts can become a mini version of your online store!

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Image Source: Instagram

Instagram shoppable posts serve as a way to get users to know your products faster than ever. It allows followers to shop straight from the Instagram app. Here's how it works:

  • Post an eye-catching picture of your product. Tag the picture as a shoppable post.
  • When any Instagram user taps on the post, the product's name and the price will pop up.
  • When the user will tap on the pop-up box, they will be taken to the product page. They can directly purchase products from there, making it super simple for them to buy.

Thus, you are successfully monetizing your Instagram by turning your account into a tool to get more buyers!

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Image Source: Instagram

Instagram shoppable posts are a super interesting Instagram monetization topic that can significantly impact your sales.

To learn more about it, check out these informative article on Instagram shoppable posts: How To Set Up Instagram Shopping and How To Sell On Instagram Without A Website

2. Reels Shop Tags

If you have an Instagram Shop already set up, you can start with promotions! Brands can curate a list of shoppable products that are directly accessible on their profile through the "View Shop" button.

You can tag the products in timeline posts through IG Reels. Instagram's focus is on building Reels on the platform. Reels organic reach and discovery are phenomenal compared to the timeline's posts.

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Image Source: The Verge

If you, as a brand, are constantly creating content on Instagram, you also should be using Reels! You should also showcase your products in Reels strategically. While doing so, you should also tag those products for additional visibility of your products and sales conversion through Reels.

Here's how you can tag products in Instagram Reels:

Step 1: After you have recorded your Reel, tap Tag Products.
Step 2: Add the products or collections you want to feature.
Step 3: Tap Done.

To learn more about it, check out these informative article on Instagram Reels: The Ultimate Guide To Instagram Reels and 7(+1) Tips To Get Discovered On Instagram Reels

3. Instagram Story Shop Tags

As you share content in Instagram Stories, you can also tag products for direct checkouts for purchase. Ensure your Instagram Stories have the product noted in the image or video clearly and add a link to encourage your audience to tap on it for purchase.

Here's how you can tag products in Instagram Stories:

Step 1: Tap the sticker icon when creating a story.
Step 2: Tap the Product link sticker.
Step 3: Select the product you want to tag.
Step 4: Publish your story.

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Image Source: Vamp Brands

4. IGTV Shop Tags

Shop tags for IGTV are very similar to shop tags for Reels. You can tag products to IGTV content as well. When creating long-form content on Instagram, you should be strategic with product placement in your videos. You can create a subtle call-to-action with your tags by doing so.

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Image Source: Engadget

5. IG Live Rooms

You could only go live by yourself on Instagram previously. But now you can invite your friends to join in a face-to-face conversation too.

Instagram allows Live sessions to have up to four people at a time. You can incorporate this Instagram monetization feature into your live content strategies and go live with up to three at a time and share your experiences with the rest of the participants. You can also tag products & pin them during the IG Live session experience to help your audience discover your products.

6. IGTV Ad Monetization

You might have created long-form content on Instagram with IGTV. Instagram even gives you an opportunity that allows advertisers to showcase their ads within your IGTV content. Such ads can appear during recommended breaks on Instagram, or they can also be customized by you. If you are thinking about how you can ensure the ads align with your brand, Instagram provides you with a way to input the types of ads shared within your IGTV content.

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Image Source: Instagram

Content tags are essential to a brand's alignment with advertisers. You should be intentional with your choice of tags. This is also crucial with your profile tagging. Hence, you should take a moment to review the tags associated with your profile.

The requirements to get access to IGTV ad monetization are:

  • You must remain compliant with Facebook's Partner Monetization Policies.
  • You must have at least 10,000 followers.
  • Your page should have at least three minutes long videos.
  • You should have at least 30,000 views in the past two months for videos combined.

Open the Instagram Partner Program dashboard & select IGTV Ads to check if your Instagram account is eligible for IGTV monetization.

If your account is eligible, you will see a screen that reads, "You're Eligible to Monetize Your IGTV Videos." You haven't yet met Instagram's requirements if you don't see that screen.

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Image Source: Shopper

Partnerships are powerful ways to increase cross-promotional relationships and audience engagement. Brand partnerships previously required the hashtags #sponsored or #ad to ensure transparency with the audience. Instagram has now updated the platform to highlight partnerships by labeling the actual post as a paid partnership.

This label creates a natural experience and a win-win scenario for audiences and brand profiles. It's ideal for showcasing transparency in a value exchange.

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Image Source: theright.fit

8. Badges

Also known as IG Badges, Instagram Badges is an interesting Instagram monetization feature that allows users to support businesses or initiatives by buying a badge. Similar to a donation process, IG Badges has a few requirements, including having a certain threshold of followers. IG Badges are currently in beta. They are only available to US creators.

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Image Source: Instagram

9. Brands Collab Manager

You are an influencer if you can mention a product on the platform, and your audience flocks to support your brand! Facebook and Instagram influencers can include themselves in a platform database that builds partnerships, oversees content management, and helps brands discover, all in one place. It's called Brands Collab Manager.

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Image Source: Instagram

Brands can join in seeking potential influencers, and influencers can join for brand partnership opportunities. The requirements to get access to Brands Collab Manager are:

  • Comply with Facebook's Branded Content Policies

  • Meet the Facebook Partner Monetization Policies

  • Have 1,000 followers

  • Within the last 60 days, have at least:

    • 15,000 post engagements
    • 180,000 minutes viewed
    • 30,000 1-minute views for 3-minute videos
  • You should be a page admin for the page you are submitting

  • You should own a page in a Brand Collabs Manager eligible country

10. Instagram Ads

You can monetize Instagram by using ads. We have all seen ads pop up on Instagram. Usually, the ads that we see on our feed are for products that we might actually have searched for earlier. Such ads are known as retargeted ads.

Instagram ads do not necessarily provide instant success; you have to be patient with them. They can even help grow your customer base over time. You will have a better chance of getting more followers, website views, and sales in exchange for paying for a limited-time ad.

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Image Source: ShopPop.com

There are many pros to using ads for Instagram monetization. The only downside is that it will cost you some cash to get the Instagram ad posted. However, you can set a campaign budget for your ad so you don't end up spending more than you would like to.

If you are trying to promote your business on Instagram, it is strongly recommended to give Instagram ads a try. The results may surprise you!

To learn more about Instagram ads, check out this article: The Ultimate Guide To Instagram Ads

11. Instagram Subscriptions

After the success of Facebook Subscriptions which helped creators build sustainable businesses with the support of their communities, Instagram brought this business model to Instagram creators. Instagram creators can grow their income by giving subscribers access to exclusive content and benefits using this feature.

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Image Source: Instagram

Instagram subscriptions are in the test phase and have currently been provided to a selected number of creators on the platform. Creators will be able to set a monthly price of their choice. They can unlock a “subscribe” button on their profile and offer benefits to their subscribers, such as:

  • Subscriber Lives: Broadcast exclusive Lives with your subscribers.
  • Subscriber Stories: Create stories just for your subscribers.
  • Subscriber Badges: See a subscriber badge next to your messages and comment, helping you to easily identify comments from your subscribers.

Instagram has plans to expand access to more creators in the next few months.

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Image Source: Instagram

Instagram Monetization Strategy

Now when you have several ways to monetize Instagram in the best possible way, it is time to find out what strategy do you need in place to monetize Instagram consistently:

  • Register your account as a business account
  • Make your profile outstanding
  • Choose a niche
  • Add high-quality content to attract followers
  • Engage with your audience
  • Monitor your Instagram analytics

Now That You Know How To Monetize Instagram…

...In 11 different ways, you can start making money and generate more sales from Instagram in no time.

If you are looking for genuine tools to build your Instagram account authentically, check out Statusbrew!

Statusbrew is a social media marketing platform that will take your brand's Instagram marketing strategies to greater heights. With this amazing tool, you can get that extra edge in creating content and drawing the insights that will help you get more likes, engagement, and ROI from Instagram.

Statusbrew allows you to bulk schedule Instagram posts, schedule an Instagram Story, schedule first comment, schedule a carousel post and a video all within Statusbrew's environment.

Sounds interesting? Book a free demo today 👇

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Rushali Das

Rushali is a content writer at Statusbrew. She is fond of writing content that compels people to slow down and look more closely to discover the unknown stories.