Although there are several ways you can present your brand on Instagram and do things such as affiliation, drop shipping or selling your own products to make money, building your reputation as an online influencer seems like a more lucrative way to earn money from your engagements among your followers by doing sponsored post and campaigns.
Doing Affiliation, Dropshipping or Selling Your Own Products
While some top Instagram influencers are paid thousands a month for just posting pictures of their everyday lives, it can be surprising that an Instagram business online account which has a measly 10,000 followers can already earn as much as $2,000 a year or even more.
Affiliate marketing lets you earn money from commission by selling external online retailer’s products. Once you decided to start affiliation, it is a great practice to look for brands who offer higher commissions.
There are brands who provide up to 40% commission on every product that you sold. The higher the commission and sold products the more money you can earn.
Drop shipping is like affiliate marketing but here, you are free to name the price of products you want to sell. You will have the ability to determine your profit. Lastly, you can always have the option to sell your own products or services.
Doing Sponsored Posts and Ad Campaigns
Surprisingly, no one knew ten years ago that you can actually make money from taking photos of your everyday life. But here we are witnessing many people doing just that.
Most sought-after influencers such as fitness and nutrition expert Lyzabeth Lopez, disclosed that she asks between $3,000 and $5,000 for every sponsored post. She also does campaigns where she charges from $20,000 up to $100,000.
Just don’t let your spirit get down just yet, the good thing here is, you don’t specifically need millions of followers to earn. Some advertisers prefer Instagrammers with a smaller yet close-knit following. Advertisers believe that these kinds of influencers tend to build a more loyal audience and interactive engagements.
These users are called micro-influencers which have as few as 3,000 followers on the said app. With this little number of followers, they can start to charge some brands for advertisement on their post. Other influencers with a decent 600 to 1,400 number of followers can earn at least $3.50 to $8 per posted photo.
Meanwhile, influencers with 3,000 to 10,000 followers charge between $60 and $115. Those who have a following of more than 100,000 can demand more than $400 per sponsored post.
Is It Enough to Make a Living?
It’s obvious that top influencers make more money ‘conveniently’ than those Instagram business online accounts who are affiliated to some brand partners.
With the earnings mentioned above from varied influencers, from most sought after to micro, your earnings will really depend on how much you engage.
Anyway, while starting small you can consider this at first as some side hustling whilst planning your way up to be a full-time successful Instagram influencer, an affiliate, a drop shipper or a seller.