Best 4 Ways to make money on Instagram 2023 [Updated]

Instagram, in recent years been a source of social media updates and entertainment. Intelligent people have used Instagram not only to entertain and influence people but also to make a fortune out of Instagram, reaching millions worldwide.

Instagram started its journey way back in 2010. It made a tectonic shift in Social Media, overcoming TikTok in 2021 and beginning Instagram reels. It claimed its position to become the most downloaded app. Today, Instagram has over 2 billion users; it evolved from a photo-sharing platform to a digital marketing platform targeting a worldwide audience.

Is it possible to make money on Instagram?

You can still be part of the journey and make tons of dollars using Instagram. Many success stories show people earning over six figures in just a month using Instagram. Instagram has become the primary source of income for influencers in today’s world. Numerous ways can be used to earn regular passive income from Instagram.

The audience plays a vital role in earning passive income, so you need to grow your Instagram followers. Growth of your Instagram account will bring more followers, and followers will bring engagement, and engagement will get money. So, first, we will overlook increasing Instagram followers, followed by earning opportunities on Instagram.

5 tips for growing Instagram Audience

1. Hashtags

The public always underestimates hashtags, which is the most powerful tool that can open the doors for millions of followers. Hashtags help you reach an extensive audience base, thereby increasing the chances of getting more followers in a limited time.

Nowadays, Instagram allows its users to follow specific hashtags. It not only helps the audience see multiple posts by following a single hashtag but also, you can view the posts of your multiple competitors at once. You can tap onto the bars and view the number of hashtags used by your competitor with more followers and use the same hashtags. This will work temporarily in initial posts only; ultimately, you will have to make efforts to bring your organic followers.

One should use the right hashtags most relevant to your post or reel. Use tools like IconoSqaure, Website, Buffer, etc., to find a trending hashtag of your niche and use it in your post. Using the right and relevant hashtags enables the chances of making your post viral to a worldwide audience. Instagram has a limit of using only 30 hashtags per post, so you must make the most and the best out of it.

Using the hashtag in your Instagram stories is also recommended, which eventually increases your chances of winning.

One difficult way is to create your hashtags and start your community. Once our community begins to build up, people will start using your hashtags. This particular method will be helpful in the long term. Do the proper research on hashtags, and you will surely be rewarded in terms of likes and followers.

2. Quality Photos, Videos, and Content

It is a myth that the more posts you upload, the more followers and outreach you will get. Many people upload 2-3 times daily with low-quality images and don’t get the results as expected. Yes, you should upload posts frequently but choosing quantity over quality may not work for you. Multiple posts in a day slow down your audience engagement rates. 

You should upload quality images in the posts. It is better to upload quality images 2-3 times a week rather than uploading low-quality images 2-3 times a day. Low-quality images will result in an increase in unfollowing than following. It is a business, and the audience is your customer; serving them with quality would help you increase.

3. Consistency

Be it any work, consistency plays a significant role over time and delivers you the results. Like hashtags and quality images, you need to post the posts, stories, and reels consistently.

For the growth of your Instagram page, you will have to post regularly; that doesn’t mean you have to post 2-3 times a day, don’t make this mistake. You can post daily, but it is not necessary to post daily. You can post on an alternate day or even twice a week.

Whatever your posting methodology may be, you need to follow it consistently, which will surely boost your growth potential. Breaking the consistency will indirectly lead to inactive followers on your page.

4. Use Highlights

Highlights are the tool that gives a content overview of your Instagram page. Whenever a new person hits your profile, they will get through your highlights. This will help them to take understand your content and make a decision whether to follow or not.

Use highlights like a movie trailer on your Instagram account, create different categories in the highlights, Shortlist, and upload your best performing posts on highlights along with the swipe-up links.

5. Use Geotags and Ask people to follow you

Like hashtags, you can also tag the location, making your store or service discoverable. Using Geotags in Instagram posts and stories is the more innovative thing to do.

Instagram provides its feed for discovering places, stores, cities, restaurants, etc., available nearby. This indirectly gives your business exposure to people who are exploring.

Never bother to ask the audience to follow you. You might have evidenced that YouTubers frequently ask their viewers to subscribe there channel at the end of the video.

You need to remind the user they can subscribe to your Instagram page for free to get updates.

You can also start hashtag campaigns that encourage the audience to follow your Instagram page.

These are tips and steps you should follow for your growth on Instagram. It is a slow and steady process, and you must be consistent.

How do I Make Money on Instagram?

People have made fortunes from Instagram. Some have earned hundreds, some thousands, and some millions too. There are some ways to make money on Instagram, and we will find the best ways.

1. Set up an Instagram Shop

If you have a business or shop or are a seller on eCommerce websites, this is the best option to increase your sales to new heights. As Instagram has the most active users worldwide, it enables maximum outreach of your post. In recent years, people have habitually explored products on Instagram.

To start an Instagram shop, you must set up a business account. It is easy to set up a business account on Instagram. Kindly follow the steps mentioned below:

• Go to your profile and select in the top right-hand corner.
• Select Settings.
• For some Instagram accounts, the Switch to Professional Account option will be available directly under Settings.
• Select Account.
• Select Switch to Professional Account.
• Select Continue.
• Select a Category for your business and select Done.
• Select OK to confirm.
• Select Business.
• Select Next.

Once you have set up the business account, you can start selling your products and services. Nowadays, Instagram allows you to integrate the Instagram business account to your Facebook page and your eCommerce stores, such as amazon or your domain. Using this unique feature helps the traffic to visit your store and also helps in improving the ranks of your domain.

Apart from selling products, an Instagram shop can also be used to sell digital services such as digital marketing, website designing, stock market services, financial services, etc. Instagram works as a single point of communication for customers, and customer queries can be resolved quickly with this hassle-free communication.

Instagram also allows to tag five products per post. You can also use stories, highlights, and reels to promote your products or services. You have to bring creativity to bring the audience to your page and start shopping for your products or services. This is the best passive income source you can rely on.

 2. Affiliate Links

Promoting affiliate links is the most popular way to make money on Instagram. The majority of the influencers do use this method to make a significant amount of passive income.

You need to research and shortlist some high-paying affiliate marketing programs. There is a wide range of such affiliate programs available, and you can look into affiliate programs of Sharescale, Amazon, Awin, Impact, Clickbank, etc.

It really doesn’t matter how much audience you have; what matters the most is how is engagement rate is going on your Instagram account. You can even start with 2000-3000 followers; you must ensure your post engagement rate is excellent.

You can add an affiliate to your bio and posts. It is also possible to create a clickable link in your Instagram story. As Instagram has the most active people, engagement is good, and using affiliate links is the best way to make money.

Affiliate links on a commission basis, and it works pretty effectively. Even if the person does not buy the product, you are affiliated but busy the other one from the same website within stipulated; then also you are liable to get the commission. That is why affiliate programs have become popular.

One important tip, you can use the affiliate links when the brands, eCommerce is offering flash sales such as Black Friday Sale or New Year Sale; this will show better results.

3. Sponsored Products

Instagram influencers and celebrities have earned some serious big chunks following this method. This way of making money isn’t feasible for people having a few hundred followers; you need to have minimum 5000 followers and a good engagement rate. You must follow the tips for increasing followers mentioned in the first half of this article; then you will know making money from this method is limitless.

If you have a good number of following and are trending on Instagram, brands will contact you to sponsor and partner with them. The purpose is to promote their products and services to your audience. In this method, benefits can be in 2 ways, you can be paid in money, or you might be offered with free products range to use. You simply partner with the brand and help them to increase their sales.

Even if you have little number of followers, you can find new and unpopular brands, shortlist a few of them and initiate the talks. New brands always look for a way of promoting their products, and you could be the one. You can look for brands dealing in electronics, food products, health products, clothing brands, etc.

You can do this in simple steps as mentioned below:

• Create a sponsored post, it can be either photo or a video, sometimes even story.
• Tag the brand you are partnering with, mention a link to promote it
• Share the post, video, or story with your audience
• After sharing the post, the brand will pay you

This particular method has some advantages and disadvantages too. Unlike affiliate links, you won’t have to wait long for commissions to be received, the brands pay in one shot only. But if you have an excellent engagement rate with a huge number of followers, then you might receive a considerable amount of commissions. 

Most Instagram influencers neglect the too much crowding of sponsored products in their profiles. This sometimes leads to loss of trust and unfollowing.

4. Make money from Live Badges

This is quite a simple but the most effective way to make money on Instagram. In this method, the creator or influencer gets paid directly from Instagram. You don’t need any sponsorship or partnership neither to do affiliate marketing.

Instagram introduced Live Badges in 2020 in the USA, followed by some other countries in 2022. Instagram introduced Live Badges to compete with TikTok and Twitch and strengthen the Instagram Community.

Live Badges are nothing but a monetary tip given by the community or audience to the Instagram Creator or Influencer during the live broadcast on Instagram. This shows support to the creators or influencers from its audience. It is a way of engagement in a meaningful way.

To use Instagram Live Badges, you must have a minimum of 10000 followers. As you go live stream with the live badges, your audience can buy the badges to support you for your content, your creativity, and your presence. Once you have bought badges as a follower, you are rewarded with hearts in your username, making you stand out from the audience.

The live badges are available in 3 variants in the USA, i.e., for 1$, 2$, and 5$. The follower can buy three badges at once, a combination of all three, or as per his choice. The one who bought the badges, if that person asks a question, then the question is highlighted on the top.

This serves a dual purpose, monetary as well as engagement. The creator or influencer gets to know the value they are bringing on Instagram, along with followers who appreciate them.

There are lots of ways to earn from Instagram, but we believe in giving you the best. These methods have the edge over the other earning methods, and if you follow this, you might be the next millionaire on Instagram.

This blog has taught us how to make money on Instagram in 2023 with proper methods. If you have any kind of problem, contact us here or Message us directly on our Instagram.