If you’re wondering how to monetize your Instagram, the platform is rolling out several features to help. Here are five ways to earn more on Instagram.
TikTok is giving Meta, the parent company of Instagram, a run for its money. Since its user spike in 2020, its exponential growth has continued. In 2021, TikTok had over 1 billion users and over $4.6 billion in annual revenue.
To keep up with the app’s popularity among creators, Meta is stepping up their game with the rollout of new Instagram monetization features.
In this blog post, we’ll show you how to monetize Instagram and explain how to use each one.
Confirm Your Earning Eligibility
First things first — you want to be sure that you’re eligible to earn from the creator tools available on your Instagram profile. To do that, confirm your eligibility status.
Go to your Instagram profile and click the hamburger icon on the top right corner of your profile.
Click the Settings icon, and it will direct you to a list of options.
Select Creator, then scan for the monetization status option.
If you’re eligible, you should see a congratulatory message stating you can use the monetization tools.
How to Monetize Instagram: 5 Routes to Consider
Instagram monetization started in 2013 with video ads on the platform. Around this time, content creators could find ways to make money off an Instagram page by selling online courses, promoting their own products, and liaising with brands to create sponsored posts. But they had to be innovative about making money off their content.
Now, Meta is working hard to figure out how the platform can help its users make money. It's investing $1 billion in tools and programs that can help creators generate revenue.
While some of the monetization features are still in their trial phases and subject to change, they are still ways to take advantage of Instagram's monetization opportunities.
1. Reels Play Bonus
Bonuses are seasonal incentives that allow you to earn directly from your Instagram content. For instance, there is the Reels Play Bonus, which was launched this summer. Similar to TikTok, the Reels Play Bonus allows you to earn money based on the number of plays on your Instagram video/Instagram Reels. Instagram calls it a merger of IGTV videos and Feed videos, but all know where Instagram gets the inspiration from.
Now, the amount of money each creator gets varies, but Instagram incentivizes newly enrolled creators, offering more money for the first set of Reels you select for monetization.
There is a caveat, however. You need to be invited to enroll in the Reels Play Bonus program. If you live in the United States and have less than 1 million followers, then you qualify for an invite.
Once invited, you will receive a pop-up notification in your personal account and another in your professional dashboard. Activate the Bonus before the expiration date, which will be shown when you access the Bonus feature on your Instagram account. Most content creators get re-invites to the program based on the performance of their Reels.
Note that not all content qualifies for the Reels Play Bonus and that certain types of videos are ineligible. It’s also important to remember to reactivate the Reels bonus each month to make sure you continue to get points.
2. Live Stream
There are currently two ways you can monetize your Instagram Live videos. The first is through Badges, and the other is through Live Shopping.
Badges are a way to earn from your supporters during live videos. Your supporters or fans can purchase Live Badges in increments of $0.99, $1.99, and $4.99 during your Live broadcast to support you or get your attention. When they buy the badges, you'll see hearts next to their usernames. Their profile and comment is highlighted on the video.
Instagram also has a Live Shopping feature that allows your viewers to purchase digital products or physical products directly from your Live videos as you interact with them in real-time.
Just tag products from your Instagram or Facebook catalog, and those products will be shown at the bottom of the Live video. That way, people can tap to learn more and purchase them.
To use the Live Shopping feature, you need to:
- Set up an Instagram or Facebook shop on your business account
- Enable checkout on Instagram
- Store your products in the catalog three days before your Live stream
Access to offering badges in live videos is limited to eligible creators residing in France, Spain, Italy, Germany, Japan, Australia, Turkey, Brazil, Mexico, and the U.K. If you live in any of the listed countries, you need at least 10,000 followers to be eligible for an invite. However, the checkout feature is only available to eligible businesses in the U.S.
3. Affiliate Posts
Every successful influencer knows how to make money on Instagram through affiliate content, a type of sponsored content that has been specifically designed to allow creators to earn commission from the sales of products they promote.
Affiliate posts differ from brand sponsorships. Instead of a company directly paying you to promote their brand products on your account, you earn commission when a person purchases an item through your clickable affiliate post.
On the Instagram app, you have access to eligible shops where you can choose products to promote along with their commission rates.
An affiliate post is identifiable with the tag "Eligible for commission." These posts are linked to Instagram shops, customizable storefronts that let people shop directly on business profiles.
To get started with this feature, you need to confirm you are eligible for affiliate marketing by checking the affiliate settings in your professional dashboard.
This feature is only available to U.S. residents.
4. Instagram Subscriptions
Instagram Subscriptions are a new way for content creators to earn monthly income from their most engaged followers.
Subscriptions allow you to earn money by providing exclusive Instagram posts, Instagram Stories, chats, and Reels to your Instagram followers who are willing to pay a monthly fee of $0.99, $1.99, $2.99, $4.99, or $9.99 for access to exclusive content, pre-releases, and behind-the-scenes action. They provide a way for Instagram influencers or micro-influencers to engage their target audience, making Subscriptions attractive for business.
Instagram also introduced the Subscriber Chats feature, a 24-hour lifecycle chat room (chats expire after 24 hours) that connects you and your community of up to 30 subscribers so you can directly engage with your subscribers.
You can use Subscription Stickers to prompt your followers to subscribe. Right now, the Instagram Subscriptions feature is available only to creators living in the U.S.
Instagram is a great place to promote your affiliate programs in digital marketing. The link in your bio is an easy way to redirect traffic from your Instagram to other social media platforms or websites, including online stores.
Hype, a link-in-bio microsite builder, helps you create a customized mini website where you can share e-commerce products, social media links, or even offer services. The customizable tool offers you a smart way to help your audience engage more with your brand and support you. Plus, its advanced features help you process payments, boost conversions, and understand your customer data.
We might be a bit biased, but we think Hype is a must-have for content creators, entrepreneurs, and Instagram users serious about growing their personal brand on Instagram and TikTok.
The Creator HQ
Join thousands of creators and build landing pages, grow your audience, and get paid on your terms, all in one place.
Optimize Your Instagram Presence
Instagram can help you build your brand and earn more from your content, especially with its new monetization features. You can make money on Instagram through:
- The Reels Play Bonus
- Instagram Live Badges and Live Shopping
- Affiliate posts
- Instagram Subscriptions
- Your link-in-bio
Hype is here to help content creators on Instagram and TikTok monetize their content and leverage their brands, whether you’re just getting started or are optimizing an established presence. As a creator, Hype provides you with a suite of tools that will help you direct your followers to ways to support your.