In a social media-driven age, influencers have become celebrities in their own way. Instagram influencers with thousands, if not millions, of followers are common. But how do influencers make money with such a large following?
Also, how can you know whether you’re following ethical influencers or those who are merely looking to make money? This essay will explain what influencers are, how they make money, and how much they will earn in 2023.
How Much Do Instagram Influencers Make?
According to eMarketer, Instagram marketing has the largest proportion of influencer marketing dollars. It is currently outperforming Facebook, TikTok, Twitter, and YouTube.
The global average minimum fee per post for an Instagram macro-influencer, according to Statista, was $165. The average top prize was $1,804.
However, there are exceptions to the norm. Celebrities such as Cristiano Ronaldo purportedly make a million dollars or more per post. Obebe, a micro-influencer, claimed $1,000 for a two-photo Instagram carousel post.
Remember that averages are generated using a wide variety of data. This includes influencers from different walks of life, industries, and abilities.
Statista provides the following general averages:
- A nano-influencer can make $195 for every Instagram post.
- A mid-tier influencer can make $1,221 for every Instagram post.
- A macro-influencer can make $1,804 for each Instagram post.
- Micro-influencers may expect to earn $208 for every post, according to Influence. co.
- Mega-influencers may expect to earn $1,628 for each Instagram post.
Instagram influencers typically post sponsored feed posts or Stories. They also go on Live to talk about product endorsements.
With the advent of Instagram Shopping, you’ll notice influencers in their feeds with affiliate links or tagged products.
Instagram’s Reels Bonus program is another popular option to monetize your Instagram account. It pays creators according to the number of views their videos receive. Alex Ojeda, for example, claimed to have earned $8,500 in a single month.
How Much Do Top Instagram Influencers Make in 2023?
Celebrity accounts with large followings can earn well over $1 million per sponsored post. Hopper HQ keeps a comprehensive breakdown of how much Instagram influencers make. The top earners are:
- Cristiano Ronaldo | cristiano | $2.397 million per post | 534 million followers
- Kylie Jenner | kyliejenner | $378M followers | $1,835,000 per post
- Lionel Messi | leomessi | 320M followers | $1,777,000 per post
- Selena Gomez | selenagomez | 370M followers | $1,735,000 per post
- Dwayne Johnson | therock | $358M followers | $1,713,000 per post
- Kim Kardashian | kimkardashian | 340M followers | $1,689,000 per post
The top six earners have the advantage of being well-known celebrities. They have an easier time reaching million-follower status than the average person. However, you might be shocked to learn that Instagrammers with a small niche following can also make money as influencers.
How Do Instagram Influencers Make Money?
Sponsored posts, affiliate marketing, brand collaborations, official network monetization schemes, merchandise, and direct contribution are several ways for social media influencers to make money (tipping, subscriptions, etc.).
That is how it is done if you have ever fantasized about lying on a sunny yacht, calmly floating over the Mediterranean, and paying for it all with a single social media post.
#1. Sponsored Posts
Sponsored posts are a common way for influencers to make money. A sponsored post occurs when an influencer is compensated to promote a product or service on their page. When an influencer endorses a brand, their followers are more likely to believe that brand.
For sponsored Instagram posts, look for the ‘Paid Partnership’ tag below the influencer’s name.
Influencers with a bigger reach can frequently charge more for sponsored material. What you can make from sponsored posts is usually determined by: your following size, the business you’re in, and how successfully you promote your services.
Here are two general rules for calculating your rates:
Engagement rate per post + bonuses for post type (x number of posts) + additional factors = total rate
The unstated industry standard is $100 per 10,000 followers + bonuses for post type (x number of posts) + other considerations = total rate.
We categorize influencers into the following sizes:
- 1,000-10,000 followers = Nano-influencer
- 10,000-50,000 followers = Micro-influencer
- 50,000-500,000 followers = Mid-tier influencer
- 500,000-1,000,000 followers = Macro-influencer
- 1,000,000+ followers = Mega-influencers
Influencers with greater followings typically make more money. But don’t be concerned if you fall into the nano- or micro-influencer category.
In fact, many smaller firms are interested in collaborating with nano- and micro-influencers. Micro-influencers are clearly preferred on Instagram.
Here’s how to make it into the industry as a fresh nano-influencer.
Brands seeking smaller or newer influencers may have a limited budget. However, if you collaborate with other brands, they will be less concerned.
Remember that long-term partnerships are frequently more profitable over time than one-time articles.
If you’re a smaller company, focus on developing your area or specialization. And building relationships with your customers.
#2. Brand Ambassador
A brand ambassador partnership is an arrangement between a corporation and an influencer. The influencer often promises to only promote the company’s products or services. Alternatively, be associated with the brand in general.
The corporation compensates the influencer in exchange for their recommendation. This can be in the form of money, free products, or other benefits.
As an influencer, you can profit from these collaborations. You can charge a fee for each post, a portion of sales, or even a salary. The amount of money an influencer can make varies according to their number of followers and engagement rates.
#3. Affiliate promotion
Influencers earn a percentage of purchases by using systems such as LTK and ShopStyle to generate affiliate links or discount codes offered by businesses.
Adding these links has also become simpler. In 2021, Instagram made link stickers in Stories available to all users, regardless of follower count or verification level.
In 2021, the platform also began testing native-to-Instagram affiliate marketing tools for influencers, although the initiative was later discontinued in the summer of 2022.
#4. Utilizing Instagram’s monetization tools
In July 2021, Facebook, now known as Meta, stated that it would invest more than $1 billion in creators through 2022.
Instagram has since unveiled several revenue solutions for producers. Although the platform’s ad-revenue-share agreement for advertising aired on IGTV (which was rebranded to “Instagram Video”) expired in 2022, producers have resorted to Reels to earn money.
Instagram has many incentive schemes that fall under the category of “Bonuses.” Instagram’s “Reels Play Bonus,” for example, compensates creators based on the number of views their videos receive in a month.
Meme author Jackson Weimer told Insider that he earned more than $6,000 each month from his Reels. Meta has created a bonus scheme and other methods to earn money from Reels on Facebook, such as ad income. However, these payments are continually changing for creators as Meta continues to test the program.
These payouts were regarded as a “cherry on top” by one designer.
Instagram creators can also make money by getting “Badges” or “Gifts” (tipping features for Live and Reels, respectively), establishing Instagram Subscriptions, and selling their own stuff or products in-app.
#5. Selling classes, DTC items, and merchandise
Influencers can use Instagram’s shopping features to sell their own items and merchandise, or they can use their following to promote their own businesses, DTC products, coaching services, or online courses.
Some influencers, such as Huda Kattan, go on to start brands worth millions, if not billions, of dollars.
#6. Clothing resale
For many Instagram producers, resale apps like Poshmark, Depop, and Etsy have become into profitable side hustles.
How much do influencers make per post?
A few factors must be considered when determining how much money influencers make per post:
- What kind of content or post is being created?
- What is the industry average?
- What are the influencer’s reach and following size?
- Do they have high engagement rates from a previous campaign that they can use?
- How does your media kit look?
To obtain a sense of your own pricing. Examine what others in your industry and size are charging for specific pieces of content. Use engagement rates and data from previous successful campaigns!
All of these can have an impact on how much you can charge per post. Because there are so many variables to consider, obtaining averages can be tricky.
In the next section, we shall refer to the previously mentioned influencer size tiers. In addition, we will go over broad averages for potential earnings within these groups. As a result, take them with a grain of salt.
How to Increase Your Instagram Followers
As previously said, you will need followers before you can make money on Instagram. The most difficult aspect is gaining 100 followers, then 500, then 1,000. Some people believe that they can buy phony followers and save the hard work, but companies and advertisers are wise — the quality of the follower is equally crucial.
Aside from having a sufficient number of followers, your audience must be active and engaged. Engagement indicates that your posts receive a lot of likes, comments, saves, and shares. Here are some pointers for increasing your Instagram following with a quality audience:
#1. Increase Your Reach
You’re probably aware that using hashtags, creating an optimized bio, and marketing your Instagram page on other social media platforms are all effective strategies to start building your audience. However, the rivalry for followers is fierce these days. Finding unique strategies to gain followers is essential. Some suggestions are as follows:
- Make sure your photos are stunning and distinctive to your style.
- Post on a regular basis. This is made easier by creating numerous posts at once and scheduling them on a constant timetable.
- Organize product giveaways for followers who refer others to you.
- Interact with followers by commenting on larger accounts’ posts in your field.
- Make friends with other influencers and ask for — or pay for — shoutouts.
#2. Interact With Your followers
Engagement is equally as crucial as the number of followers. Creating posts that encourage followers to share or comment should be as important as building your following. According to Rival IQ, the average branded engagement rate is less than 2% and is falling. Instagram Insights, which is available for business and creator accounts, can assist you in evaluating the performance of your posts.
Posting questions or soliciting advice or opinions are two ways to engage your audience. Don’t forget to thank your followers who take the time to communicate with you.
#3. Perform Occasional Follower Upkeep
It’s a mystery, yet many Instagrammers claim that they are followed by vague profiles that appear to be bots. These accounts increase your follower count but decrease your engagement rates because they do not comment on or like your content.
As your follower count develops, you may want to clean up your account and remove inactive followers on a regular basis. It will increase your interaction rate — as well as your chances of obtaining a rich sponsorship.
What Is the Minimum Number of Instagram Followers Required to Be Paid?
Instagram payment is not usually based on the number of followers. Brands want product recognition and potential sales, and engagement can help them accomplish both. They look at how well you engage with your audience, regardless of how many followers you have. As a result, work on raising your engagement rate and frequently producing high-quality content relevant to your area.
Are Instagram Users Being Paid?
Users of Instagram may be rewarded. There are numerous ways to make money on Instagram. You may promote your Instagram account and grow it. You might be an Instagram influencer while also building your following. Because of this, you can accept collaborations, foster goods, and services, and engage in affiliate marketing. If you’re a photographer, you can also sell your photographs and other visual content.
Employing a Social Media Influencer
Influencer marketing is an excellent strategy for any marketing manager or a business owner. However, there are numerous moving pieces to consider.
You must discover the appropriate influencer for your brand and budget. You should also understand how they establish their prices.
Then you must determine how they will integrate into your marketing approach. And, of course, track your results after your campaign.
How Can You Tell Whether the Influencers You Follow are Ethical?
Being an influencer has grown in popularity in recent years, partly because people have discovered how lucrative it can be. Unfortunately, some influencers may choose to act unethically. Here are a few tips to help you follow ethical social media influencers.
What Should You Know About an Influencer’s Earnings?
Quitting your day job to live off of an Instagram influencer paycheck is easier said than done because accounts must acquire thousands of followers before they can begin to make money.
Instagram influencers with fewer than 10,000 followers can earn an average of $88.00 for every post. Those with less than 100,000 followers pay an average of $200.00 for every post, though this varies greatly amongst accounts. Instead, in exchange for posting, most accounts at this level are given free products or discounts.
Profiles with between 250,000 and 500,000 followers can make a lot of money by posting brand-related content on their profiles, whether it’s a static image, a GIF-like video, or an Instagram story. It’s safe to assume that if an influencer reaches one million followers, they’re making a nice living and working hard to keep it.
Conclusion
Instagram influencers can make a staggering sum of money simply by posting on social media.
Building a successful brand is, of course, easier said than done. It takes a lot of hard work and a lot of luck to genuinely make it as an influencer.
Furthermore, not everyone aspires to be a full-time influencer. Many influencers utilize their celebrity as a springboard to launch a small business.
Making Instagram your full-time job isn’t for everyone. However, if you are looking for a hobby with the possibility to earn some additional money, Instagram can be a terrific option.
Related Articles
- How To Buy Real Instagram Followers In The UK
- HOW TO BUILD YOUR BRAND 2023: Detailed Guide(+free tips)
- HOW TO MAKE MONEY ON INSTAGRAM IN 2023: Top 7 Ways
- INSTAGRAM MANAGEMENT TOOLS: Uses, Free Tools & Pricing
- How To Become An Amazon Affiliate: Step-by-Step Guide
- Building a Brand Fortress: How to Protect Your Reputation in a Cutthroat Market
References
