Affluent Savvy
Affluent Savvy
Photo: Monstera
Growth is always a good indicator of a successful, thriving account and once you have 1,000 followers, a lot of monetization opens up for you. All in all, as long as you are seeing great engagement and creating quality content, you are on the right track to making money on Instagram.
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Learn More »It is frustrating to see influencers making thousands of dollars per post on Instagram while we struggle just to see our follower count rise daily. We all want to be the next influencer to land big sponsored deals that pay for us to travel the world and eat the best-looking food, but it’s hard to know exactly when your account is ready to start making money. One of the first metrics that users and brands look at to determine account influence is your follower count, mostly because it is front and center for everyone to see. Even so, there is no set Instagram follower number to make money in 2018 that works for every influencer in every niche. In today’s post, I am going to go over how to approach your follower count and when should you monetize them. This is the first question anyone who is trying to monetize their Instagram has, but there is no hard and fast answer. There are a lot of variables that factor into the amount of money a user can make by posting on Instagram such as account niche, the way of monetization, quality of posts, follower count, and engagement rates, just to name a few. One of the most popular ways (if not THE most popular way) that influencers make money on Instagram is through sponsored posts. Influencers are responsible for setting their own rate for working with brands, so the income potential varies even more here. For instance, an account just branching out into influencer marketing and sponsored posts may start by charging $25-$50 a post, and accounts that are already established as influencers with 30-80k followers can charge hundreds of dollars per post. Once influencers reach over 100k followers, they tend to start charging at least $1,000 for just one post such as Sam Ushiro who has 283k followers and charges $1,500 a post. Not to mention, celebrities like Kim Kardashian West with 107 million followers can rake in over $500,000 for a sponsored Instagram post. The answer is… it depends! If you feel like this answer is a letdown, hear me out. When brands are looking to work with influencers, they want to know that their marketing budget is well-used. What brands really look at is how well your audience is engaged, no matter the follower count because that means more product awareness, and potential sales, for them. Brands also look at how your follower count and engagement rate fit in with your niche and the quality of your posts.
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Learn More »The key to making money on Instagram is not a follower count. It is having good a engagement rate. Your engagement rate is the total number of likes and comments on a certain number of posts, divided by the number of posts, divided by followers, multiplied by 100. (There are plenty of online tools available if you don’t feel like doing the math yourself!) Later, an Instagram marketing and scheduling platform, states that engagement rates between 2-3% are average and rates between 4-6% are considered high. An engagement rate that breaches double digits is considered to be “viral.” When your engagement rate is high, that tells brands that your followers are hearing what you are saying and, better yet, listening! They will invest their money with you because it will, in turn, result in your followers buying their products.
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