How To Make Money With Instagram? That’s how you do it in 2023
Can you make money with Instagram? Yes. How much? It depends on. What is certain is that anyone who works a little smart can earn money with their own Instagram account.
It is an interesting platform to find customers. There are now a billion people on Instagram, the majority of whom (63%) log in at least once a day and spend more than 30 minutes there. In addition, 130 million interactions take place with content such as shopping, likes and comments.
Instagram is therefore a very good way to make money online.
If you want to know how you can achieve this like all those other people, read on. You discover which strategies you can use to make money with your Instagram account, how many followers you need, and what you need to do for that. I also give you tips on how best to approach this.
- How much money can you make with Instagram?
- How many followers do you need to make money with Instagram?
- Ways to make money with Instagram in Nigeria 2023
- For now the ways to make money with Instagram.
- Successfully earn money with your Instagram account: Tips & Tricks
- Finally: making money with Instagram Nigeria 2023
How much money can you make with Instagram?
You can make money with social media in several ways. Instagram is 1 of them. But before you want to get started with Instagram, you naturally want to know how much money you can earn with your account.
Influencers with a million followers can earn around $500 (227,500 Nigerian Naira) per sponsored post. An account with around 100,000 followers can earn around $150 to $200 (Approx. 91,000 Nigerian Naira), while someone with 10,000 followers can earn around $50 to $75 (Approx. 35000 Nigerian Naira) per sponsored post.
How many followers do you need to make money with Instagram?
After reading the previous paragraph you would think that you need a lot of followers to make money with Instagram, but in reality it is less than you think.
You can make money with Instagram both when you have a thousand followers and when you have 1 million followers. As a so-called micro-influencer (1,000 to 100,000 followers) you are now also valuable to companies and brands.
But as important as the number of followers you have is the topic you post about. The engagement of your target audience as well as the strategy you use to make money with Instagram is also important.
Ways to make money with Instagram in Nigeria 2023
Making money with Instagram can now be done with different strategies. Think for example of affiliate marketing, dropshipping and so on. Below I list the most strategies for you. Did you know that you can also use these tips if you have a TikTok account? You can find out more about it in making money with TikTok.
For now the ways to make money with Instagram.
1. Affiliate Marketing
Making money with Instagram through affiliate marketing is one of the most popular ways to make money. Basically, you promote products for companies that pay you a certain percentage or amount for every customer you bring.
Affiliate marketing does not have to be difficult. Before you start to apply this strategy, you first determine your target group. Are your followers mainly interested in beauty or cars? Then you better promote just one product that matches the interests of your followers, because otherwise there is no point in starting affiliate marketing.
Another advantage of this strategy is that in most cases you do not have to approach companies yourself to promote their services or products. Many companies already have affiliate programs or are affiliated with special companies.
Unfortunately, you cannot post direct links on Instagram. That’s why you also have to be creative to post your unique affiliate link. There are a number of ways you can do this:
Link in your bio – you can use the link in your bio for an affiliate link. If you do affiliate marketing for multiple products or companies, you can use a tool that allows you to post multiple links. This way you put one link in your bio, those links to a page with several affiliate links.
Text overlay – you can place the link to a product on your photo and people can then type it over. It is smart to use a short URL for this so that people make as few mistakes as possible when retyping.
Swipe up to read more – you can add a link via your Instagram stories. To do this you either need a Business account or you need to have more than 10,000 followers.
2. Become an influencer
Another way of making money with Instagram is to post sponsored posts as an influencer. To make money with your Instagram account, it is important that you have enough people to follow you and that your followers are willing to buy the products you promote.
But how can you make money with Instagram as an influencer? If you have 100,000 followers, you will logically make more money than if you only have 5,000 followers. That makes sense. Assume that you earn ₦10,000 to ₦20,000 if you have about 3000 to 5000 followers.
As an influencer, it is also important to have the right target group and to post about the topics you understand and where your interests lie .
Unless you have an Instagram account with many followers, you will not be easily approached by large companies. So you will have to look for your first jobs yourself in order to find products or services that you can promote.
You can find these through influencer networks. You don’t have to approach companies yourself (although you can always try), but you can find jobs on those networks that match your profile.
3. Promote your own products or services
You can also use your account as a marketing tool for yourself. For example, it is possible to earn money with Instagram by promoting your own services or products. Whether you sell a service such as web designs or products such as your own clothing line, it can be sold via Instagram.
You can do this in a number of ways. Here’s how to get started with Instagram Shopping. This allows you to promote your products directly via Instagram posts and stories. People who see your post can immediately click through to a page that contains more information about the product and where they can immediately purchase the product.
Getting started with Instagram shopping is very easy. You must ensure that you have a business account linked to your Facebook page. You then upload your product catalog and have your Instagram account assessed. If you are approved, you can enable the Instagram function.
Do you want more opportunities to sell your own products or to offer your customers more service: start your own webshop. This way you have full control over which products you can sell and exactly how you want to do this.
You can have a complete custom webshop made, but you can also start quickly with platforms such as Shopify or Woocommerce that require less or even no technical knowledge. Selling via Amazon or Bol.com is also possible.
You can of course also use the best of both worlds and Instagram shopping to promote your own webshop and to sell more of your own products.
Some tips to promote your products on Instagram are:
- Before posting your post, do hashtag research so that you include enough relevant hashtags in your post.
- Reach out to other influencers to ask if they would like to work with you promoting your products or services.
- If you have a budget for advertising, run ads for more brand awareness.
One strategy that has quickly gained popularity in recent years for making money from Instagram is dropshipping. Dropshipping is actually the same as selling your own products through a webshop, only without having these products in stock and having to ship them.
With dropshipping, you first have to find a supplier of products that you want to sell and set up an online store. Then you can start selling. You can do this via your Instagram account or via your own webshop.
If someone then orders a product, you place an order yourself via the manufacturer or wholesaler who then sends it to your customer.
However, dropshipping has advantages and disadvantages. The advantages of dropshipping are that you can offer a wide range of products without the need for a warehouse and your own stock. You can therefore start quickly without needing a large starting capital.
The disadvantage is that you have no control over all processes. If you place an order with a wholesaler and it is delivered very slowly or not at all, you are responsible for this without being able to do anything about it. You can solve this by looking for good suppliers and making clear agreements with them.
Successfully earn money with your Instagram account: Tips & Tricks
Making money with Instagram is not just a matter of choosing the right strategy and getting started. There is still something more to it. Starting with creating a business account is a good idea, but the following tips can also help you get more out of your Instagram account.
1. Take advantage of the Instagram algorithm
It is no longer the case that messages are posted in a chronological way, this is done via an algorithm that determines how, when and to whom your posts are shown. Three factors are important to pay attention to: relevance, regularity and relationships.
Audience and topic – Choose the right audience and topics to post about. Think carefully about a unique topic to stand out positively with your target audience. A topic like hiking is somewhat general, but hiking with your dog is a more specific topic.
Post regularly – Post regularly (1 to 2 times a day, but at least 3 times a week) and use the correct, relevant hashtags with each post so that you are assessed positively by Instagram.
Keep an eye on the competition – In addition to regularly posting about relevant topics, it is smart to follow accounts of competitors and others from your target group. Also regularly repost content from others (for example via Regram).
2. Respond to others
By responding to likes and content from your followers, you build a bond with your followers. This is how you create involvement. You can also get more followers and likes yourself by commenting and liking other people’s content.
For Instagram, the comments and likes you get within the first hour after you post are important. Make sure you stay active for a while after posting.
Do not do this by always posting the same reaction, but try to be original. Otherwise, Instagram will think you’re trying to spam.
3. Do it professionally
Making money with Instagram Nigeria is only possible with a professional approach . Make a plan and set clear goals. For example, posting a message every day, expanding your network with 10 followers and posting 5 – 10 comments on other people’s content.
Make sure you have a good bio and think about the professional design of your account and your content.
4. Don’t buy Instagram followers
There are sites where you can buy 10,000 Instagram followers for ten euros. And of course it is better to have as many followers as possible, but fake followers are of no use.
Often they are accounts set up by click farms that do not have real people behind them. These accounts will not like posts and certainly not buy products.
Also, Instagram’s algorithm notices this and you might get a penalty. This way your real, relevant followers will no longer see your content and your organic reach will decrease. In short, don’t be tempted to get extra followers this way.
5. Promote yourself on other platforms
To get the most out of your Instagram account, you can also use other platforms. Think of other social media such as TikTok, Snapchat and Facebook.
You can also start a blog where you highlight your Instagram posts in articles and try to get new followers for your Instagram account.
The more you are present on different platforms, the easier it is to make money with Instagram in Nigeria 2023.
6. Be consistent
When you start with Instagram you will find out that growing is still quite difficult. Consistency is therefore important when you want to make money with Instagram.
As I indicated in tip 1, make sure you post content regularly. Consider in advance what kind of content you want to post and create different formats for your posts. If you use filters, make sure that the filters fit well together.
If you would like help with setting up a good account and turning your followers into customers, this website will help you further !
Finally: making money with Instagram Nigeria 2023
As you have already noticed, making money with Instagram is not a get-rich-quick scheme. You will have to approach this smartly and, as mentioned, have perseverance to become successful.
But Instagram is an easy platform to get started with and with the right approach, the possibilities are virtually endless.