Are you curious about how many followers you need to start making money on Instagram? I will share the detailed information about this topic with other valuable resources, so hang tight!
Instagram is a highly dynamic and popular social media platform with more than a billion active users. According to Instagram business stats, 90% of people on this platform follow a business.
So, you have chosen to join the emerging platform and are planning to start earning money. Now let’s get back to our primary question, how many followers do you need to start making money on Instagram?
How Many Followers Do You Need To Start Making Money On Instagram
There is no specific number to start making money on Instagram. But to start earning a regular income, a few thousand followers are required. It also depends on the category and the engagement rate.
To start making money on Instagram, you should focus on the first 1000 loyal followers. After that, you can begin sharing affiliate posts that can start paying you a few dollars if your followers click on the link and buy anything using those affiliate links.
According to influence.co Influencer Rate Map, more than 12K influencers are available on this platform, and they want to charge from <$50 to <$1000 per sponsored post.
So, let’s dive into the expected earnings according to the specific number of Instagram followers.
Nano-Influencer (1K – 10K followers): Nano-Influencers charge between $10 to $100 per sponsored post.
Micro-Influencer (10K – 100K followers): Micro-Influencers charge between $100 to $500 per sponsored post.
Macro-Influencer (100K – 1000K followers): Macro-Influencers charge between $500 to $2000 per sponsored post.
Mega-Influencer (1000K+ followers): Mega-Influencers charge between $1000 to $5000 per sponsored post.
These are the usual statistics, but there are still some beyond-the-line examples of Instagram influencers who charge much higher rates with a low number of followers. For instance, when Insider was interviewed, Jen Lauren was willing to charge $350 and had less than 3000 followers.
Here is an example of a celebrity who charges high for one Instagram-sponsored post.
Now, it’s time to learn how to make money on Instagram. You need to understand this crucial part to start making money on Instagram.
How To Make Money On Instagram
5 to 6 out of 10 Instagram users look for a product or service recommendation. That’s why Instagram is so popular among influencers.
There are several ways to make money on Instagram if you can attract the eyeballs. Among the long list, here are the top 6 ways to make money on Instagram that I want to share with you:
You get a commission if your followers purchase anything using your shared affiliate links. Affiliate marketing is promoting someone else’s products or services.
You can select affiliate products or services according to your Niche or followers’ interests. And start promoting them on your Instagram. You will earn a commission if your followers click on that affiliate link and make a purchase.
You can join affiliate programs/ platforms like Amazon Associates, ClickBank, ShareASale, CJ Affiliate, and Rakuten Marketing.
Sell Your Own Digital Or Physical Product
I know multiple Instagram influencers who sell their products on Instagram. One of my friends creates short courses related to digital marketing and sells them on Instagram. He uses a WordPress plugin to upload the courses with a payment gateway and generate a link to sell them to Instagram.
You can do it too with your product, whether digital or physical. Create a website, upload your products and start selling on Instagram. You can contact me for any help related to website development.
Don’t get confused between affiliate marketing and sponsored posts. You earn when someone clicks on your affiliate link and makes a purchase, but it’s not the case with sponsored posts. You don’t need to track the clicks and purchases with sponsored posts. Brands pay you for just sharing their product/ services on your Instagram.
Usually, brands contact you to promote their products. Or you can contact brands directly if you have enough followers and a reasonable engagement rate.
Dropshipping means you don’t need to store the products but can sell them online. When your followers buy the product, you can ask your supplier to fulfill (the product shipment) to the customer. You pay the supplier a wholesale rate and sell the product at your price.
It’s an excellent way to sell products on Instagram and earn money. You can connect with multiple dropshipping platforms to communicate with the suppliers like Oberlo, AliExpress, Alibaba, etc.
I have been freelancing for more than ten years and love the process. You can work from anywhere with clients across the world.
You can create your freelancing profile using Fiverr (with services gigs), Upwork, or Freelancer. And you can start promoting your freelancing profile to your Instagram followers.
If you have technical skills like web design, content writing, graphic design, or video editing, promoting your freelancing services on Instagram is the best to start earning money.
Core Facts Behind Instagram Earning
There are several reasons behind a good income from Instagram. Your earnings depend on these two factors:
Instagram Influencers’ earnings are highly dependent on engagement rates. In my opinion, the most significant factor for earning high on Instagram is the Engagement rate. Let’s dive into the fact about Instagram Engagement Rates calculation.
How to Calculate Instagram Engagement Rates?
To calculate the Instagram Engagement rate, follow the following:
- Add the number of likes and comments on your posts.
- Divide the total number of likes and comments by your followers’ count.
- And then multiply that number by 100 to get the Instagram Engagement Rate.
The Niche you select to pursue your journey on Instagram does matter a lot. It’s hard to obtain loyal followers if you don’t follow any Niche. And Niche plays a most crucial part in your Instagram earning. For example, Travel and Beauty are more profitable than Food and Decoration.
Here are the profitable niches that you can choose from Travel, Beauty, Fashion, Health, and Fitness, Lifestyle, Parenting, Business, Music
If you are still confused, here is a fantastic guide to help you choose your Instagram niche.
Bonus Tip: How To Increase Instagram Followers?
In my opinion, consistency is the key to increasing Instagram followers. You can keep the wheels moving if you are consistent with your posts and interact with your followers.
But here are a few tips to follow to increase your Instagram followers:
- First of all, optimize your profile and make it professional.
- Keep posting regularly and be ready for future posts.
- Schedule your posts in advance if possible.
- Share your Instagram profile link on other social media platforms that you use.
- Post the content that your followers like the most.
- Interact with your followers if they comment on your posts.
A Few More Facts You May Need To Know
Find Out The Average Number Of Followers You Should Have
As I have shared above, If you want to make money on Instagram, then you need to have a minimum of 1,000 followers. That means that at least 1000 people would be interested in seeing what you post.
Calculate Your Cost Per Following
You can calculate your cost per following by dividing your total number of followers by the average price of an Instagram follower. So if you have 5,000 followers and each one costs $10, then you will spend $50 to gain 1,000 followers.
Determine Whether Or Not You’re Making A Profit
If you want to make money with Instagram, you need to determine whether or not you are making a profit. This means that you need to figure out what your costs are and compare them to your revenue.
Figure Out Which Type Of Account Is Best For You
There are three main types of accounts on Instagram: Business, Brand, and Personal. Each type has its own pros and cons, so choose wisely.
Decide Whether You Want To Be An Influencer or Brand
If you want to build an influencer account, you need to focus on building relationships with other people who share similar interests as yourself. This means you will likely need to spend more time interacting with others than posting photos.
If you want to start a brand, you will need to post regularly and consistently. However, you won’t necessarily need to interact with others.
My Verdict On How Many Followers Do You Need To Make Money On Instagram
There is no specific number that you can count to start earning money on Instagram. It all depends on how much time and effort you invest in this work.
But, in my opinion, anyone who follows a strong niche and has at least more than 1000 followers can start making money on Instagram.
Do you have any example of any Instagram profile doing something different? Please share with me in the comments; I would love to know about that.