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Active Instagram users and influencers can earn thousands of dollars per post. But some users find it difficult to see their number of followers growing every day. In fact, Instagrammers want to sign great sponsored deals that can help them line their bank account, eat the most beautiful food, or travel the world. However, brands measure your account’s influence based on both your follower count and engagement rate.
That’s why well-known celebrities with huge followings land these big deals, while others struggle to grow their following, reputation, engagement, and more. But many are wondering: how much money can you really make on Instagram? And what factors affect how much you can potentially earn?
Related: 5 Ways to Turn Your Instagram Account into an Income-Generating Machine
How much money can you make on Instagram?
The first question most Instagram users ask themselves is how much money they can make from this platform. Frankly, there is no straight answer to this question. According to Instant Famous, several variables influence how much money you can earn per post on Instagram. Some of these include your niche, number of followers, monetization method, engagement rates, and post quality.
Sponsored posts are one of the most popular ways to make money on Instagram. The industry ranks influencers based on their follower count and sets prices for publishing sponsored posts based on follower count. For example, the nano category has influencers with less than 10,000 followers, the micro category has up to 100,000 followers, the macro category has between 100,000 and one million followers, and the mega category influencers have more than one million followers. Lower-level influencers, such as nanos, earn $10 per 1,000 followers, micros earn $100, and macros earn $1,000.
On the other hand, influencers have the right to set their own price and their charges are mostly outside of these guidelines. For example, less famous influencers with up to 10,000 followers can set their rates between $25 and $50 per post, an established one with between 30 and 80,000 followers can charge $150 or $350 per post, while a celebrity with over 100,000 followers can charge between 1000 dollars. and $500,000 per publication. They use other factors to establish these numbers.
Engagement rate is a factor that influences how much money you can make on Instagram. Based on this, lower-level influencers with high engagement earn more when brands pay based on the number of engagements. As a result, companies use a different pricing model, which is $250 to $750 per 1,000 engagements.
While your Instagram follower count is important, a lower-level influencer with a higher engagement rate can earn more than someone with a large number of followers but few likes and comments on their posts. More engaged followers are more likely to buy in the near future, and that’s what brands are looking for.
Related: How to Build a Real Instagram Audience
How many followers do you need to make money on Instagram?
It depends. Many believe that follower count is the only factor that brands consider when paying you on Instagram. However, this is not true. They also look at your niche, the quality of your posts, reputation and follower engagement, because these factors influence product awareness and sales. To prove this, we review three big factors that can affect your earnings on Instagram, even if you have a substantial following:
1. Commitment fee
Instagram engagement rate is a percentage that is obtained by dividing the total number of likes and comments by the number of posts and multiplying it by 100. You can use some online tools to do the calculations quickly. Instant Famous claims that 4-6% is a high engagement rate, 2-3% is average, and above 10% is viral.
A high engagement rate tells brands that their followers are listening to what you’re saying or taking your recommendations. This encourages them to invest with you, because many of your followers will buy your products. So, whether you have 1,000 or a million followers, you can make money on Instagram as long as your account has a high engagement rate. The rate shows that your followers see and interact with your content. It also means your followers are paying attention to what you’re saying, and among them are a couple of potential buyers.
2. Your niche
Social networks have become part of people’s daily lives. In fact, seven out of 10 people turn to social media when deciding what to buy. Most of them make purchasing decisions based on the opinion of those they trust. So, you can give your followers reasons to follow and listen to you if you are knowledgeable and passionate about a particular niche. Promoting brands and products in the niche you already love can make you money even if you don’t have a ton of followers.
This leads to the question: what are the most profitable niches on Instagram? Beauty, fashion, health, fitness, wellness, travel, business, finance, lifestyle and luxury are some of the most popular niches on Instagram. Also, there are many brands in these niches that help you create a lot of content for them and monetize them successfully. So, go for a niche with a lot of followers, so you can easily land sponsored posts. In fact, most brands work with micro-influencers with a more engaged and targeted following in these specific niches to promote them and their products.
Related: 8 Ways to Get More Engagement on Instagram
3. Your general reputation
Some Instagram influencers are famous on Instagram and other social media platforms as well as in their industries. They include well-known athletes, scientists and other experts in the field. These people have excellent reputations both online and offline. Brands want to work with these people even if they don’t have a huge following on Instagram.
It’s always great to have a lot of Instagram followers, because brands are attracted to users or influencers with a large follower base. On the other hand, follower count is not the only factor needed to start earning on Instagram. Your niche, share rate and reputation also greatly affect your ability to earn on this video sharing platform.
As a result of these factors, there is no explicit answer to the question of how many Instagram followers you really need to start making money in the future. Still, you can start making money even with 1,000 followers by exploring various sources of income. Social media promoters like Instant Famous encourage active users to leverage their influence on Instagram and look for opportunities to publish sponsored posts, engage in affiliate marketing, sell their own digital and physical products, serve as brand ambassadors or provide social media marketing services.
The article mentioned a couple of influencers who make money on Instagram with or without a large following. This is a clear proof that the number of Instagram followers does not count, but a high engagement rate of 2000 loyal followers can earn you decent money on this platform.