6 Best Ways to Make Money on Instagram 2024

Have you been wanting to make money on Instagram? Perhaps you want to start your own clothing company, sell your own products, or promote your blog?

With the rise of Instagram, more and more people are wanting to make money on Instagram.

The best way to make money on Instagram is to sell your own products or affiliate products. Affiliate marketing is an extremely popular way to make money on Instagram by selling other people’s products online. Using Instagram to promote your website or business can also be a good way to earn money on Instagram.

Instagram is an amazing platform to start making money online on. In this article, I am going to be going over the 6 best ways to make money on Instagram.

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How Do You Start Making Money on Instagram?

The best way to start making money on Instagram is to sell a product or service of some kind. The product or service you sell will change based on what niche you are in.

Selling affiliate products can be a good place to start for beginners starting to make money on Instagram.

Affiliate marketing is one of the easiest ways to start monetizing your Instagram page because you are selling someone else’s product for a commission, or portion of each sale.

Once you establish yourself on Instagram and start obtaining a following, then you can branch out and start selling your own products if you wish.

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How Many Followers Do You Need to Make Money on Instagram?

You can make money on Instagram with only 100 followers if they are very engaged with your content. However, most people will start to make money around the 1,000 to 5,000 follower mark.

Making money on Instagram really comes down to a few things.

1. How Engaged is Your Follower Base

The more your followers interact with your post the better. A high level of engagement means most of your followers like, comment, and share your posts a lot.

Typically smaller accounts under 10,000 followers have extremely high engagement. As your account grows, its overall engagement will start to fall a bit. However, this is completely normal for larger accounts.

2. Is Your Instagram Page Monetized

You can monetize on Instagram by selling affiliate products, selling your own products, driving traffic to your website or business, or selling shoutouts and promotions.

Monetizing your Instagram account is very important if your goal is to make money on Instagram.

3. The Amount of Followers You Have

Sure, it is most definitely possible to make money on Instagram with only a few hundred, or thousand followers. But the more followers you have, the more people you can potentially sell a product or service to.

On top of that, Instagram is very engagement driven. In order to reach the explore page you need a lot of immediate interactions with your content, so Instagram pushes it to more people.

Usually at around 2000 to 3000 followers you will start to see your content hit the explore page if it is something people are interacting with.

How to Make Money on Instagram Stories?

The best way to make money on Instagram stories is to promote a product or service with a call to action.

This call to action might be in the form of telling your followers to check out a brand’s Instagram page or visit the link in your bio.

Once you have 10,000 followers on Instagram, you are able to put a link in your stories.

This is huge for brands in particular because it allows you to link to available products for sale.

The swipe-up feature on Instagram stories is a game changer that makes it so much easier to make money on Instagram stories.

If you haven’t reached that 10,000 follower mark just yet, don’t worry! Telling your audience to visit the link in your bio can be just as effective and lead to just as many sales.

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How to Make Money on Instagram as a Teenager?

The best way to make money on Instagram as a teenager is by selling shoutouts or paid promotions. This is one of the best ways for teens to make money on Instagram because it takes very little effort to start making money this way.

As long as you are consistently working to grow your following on Instagram, over time more and more brands will start reaching out asking for a promotion on your page.

The amount you charge per promotion, or shoutout will depend on two factors; engagement and amount of followers.

The more engaged followers you have, the more you can charge brands and businesses for a promotion on your account.

The niche you are in also plays a big role in how many brands or businesses will reach out for a paid promotion.

You can check out my guide to the 14 most profitable Instagram niches.

6 Best Ways to Make Money on Instagram

1. Shoutouts and Promotions

One of the easiest ways to start making money on Instagram is from selling shoutouts and promotions. Its a very easy way to make money on Instagram because most of the time businesses and brands will reach out to you and ask for a promotion on your page.

This method works particularly well with Instagram theme pages. Many theme pages put “DM for paid promo” or something similar in their bio. This makes it easier for brands to identify who is actually doing shoutouts or promotions on their Instagram account.

The price of paid promotions will depend on how engaged your audience is and how many followers you have. Typically of the two, the amount of followers is the most important factor because engagement can change very frequently. The Instagram algorithm is very unpredictable. One day you might be getting thousands of impressions on your posts and the next, only hundreds.

This is why the amount of followers you have is so important. Brands will pay more for a promotion or shoutout from someone with 50,000 followers, compared to 5,000. The Instagram account with 50,000 followers already has a large number of people that their post is guaranteed to be pushed out to.

This is why when you are first growing an Instagram account it is important to put out high quality content that people will want to share with their peers.

If you want to grow your Instagram following, but don’t know how to start, check out my guide with steps on exactly how you can get your first 50,000 followers on Instagram.

2. Affiliate Marketing

Another easy way to make money on Instagram is from affiliate marketing.

But what exactly is affiliate marketing? Affiliate marketing is a type of marketing where you sell someone else’s product or service in return for a commission, or percentage of each sale.

You would find an affiliate product to promote on your Instagram account and make money after every successful sale.

Sometimes businesses offer different forms of payment for referring your followers to them. However, in most cases, you are paid a percentage of each sale.

For example, if you sold a $100 product with a 25% commission, you would make $25 for every successful sale.

You are often given an affiliate link to help track who you refer to the affiliate product. On Instagram, you should put this affiliate link in your bio with a call to action.

This call to action could be as simple as “Shop Now” or something similar.

Once you hit that 10,000 follower mark you can start placing your affiliate link in your Instagram stories as well.

All this will result in a ton of clicks and sales, helping you make money from Instagram!

3. Sell Products

Selling your own products is another great way to earn money on Instagram.

Essentially the promotional strategy is similar to affiliate marketing with placing a link in your bio and Instagram stories.

Additionally, you can also create Instagram feed posts dedicated to promoting whatever you decide to sell.

There are many ways to go about selling products on Instagram. Dropshipping is one of the most popular ways to sell products because there is no need to have any inventory on hand.

SaleHoo makes researching and finding a product and supplier simple and easy to do. If you are wanting to create an e-commerce store I highly recommend checking SaleHoo out.

4. Promote Your Website

Instagram is a great place for website owners like bloggers to promote their content and get completely free traffic. Many Instagram influencers have their own website with their monetization methods.

Take blogging for instance. Bloggers often place ads on their websites to help generate an income. The more people they drive to their website, the more money they make from the ads.

If you want to make your own website but do not want to spend a lot of money doing so, check out Bluehost. I personally use Bluehost to run all my websites and love everything about them.

Bluehost is very inexpensive, making it a great investment for those wanting to get into the online space. Customer service is phenomenal, every time I have a question about my website, their customer service team has been able to help me find the answer quickly.

Once you have your website all up and running, you can place a link to it in your bio. From there, create content that incentivizes people to visit your website.

Over time, as your Instagram following grows, your traffic to your website will grow, increasing your websites income.

Related: How to Make Money Blogging

5. Print on Demand

Have you ever seen one of those online t-shirt shops on Instagram? Well, there’s a good chance they were a print on demand store. Basically, print on demand is a way of putting a design on various pieces of merchandise such as clothing. T-shirts and stickers are both very popular print on demand items.

Print on demand is a great way to start making money from Instagram without any upfront investment. It’s completely free to start uploading and creating designs on popular print on demand websites like Redbubble or Teespring.

Simply create a shop on one of these print on demand websites, get a link to your store and start promoting on Instagram.

6. Promote Your Business

Instagram is home to many different types of businesses. It’s a great platform to start building an audience of people that enjoy your product or service. Social media has opened up a window of opportunity for all different types of businesses, but small businesses, in particular, thrive on Instagram.

Small businesses that do best on Instagram engage with their followers. This means replying to comments, sharing special discount codes for your products, or even hosting special events.

For example, a photography business could host an event where their followers submit their best photos and the winner gets a free photography lesson. Things like that help you develop a relationship with your audience. Someone is much more likely to purchase a product from someone they trust, compared to someone they do not know.

If you are a small business starting out, you need to check out FreshBooks.

FreshBooks is an online invoicing and accounting software designed for small businesses in particular. It’s designed to help you run your business in the easiest way possible.

Conclusion

Monetizing your Instagram account is one of the best ways to make money online. All 6 of the ways listed above are the best ways to make money on Instagram. Instagram has allowed small businesses to thrive, marketers to get free advertising, and content creators to monetize their work.

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