Instagram and Those Influencer Ads
As a social media platform, Instagram is a force to be reckoned with and with millions of people using the platform on a daily basis; it was bound to turn into a profitable source of income for some. Also known as “influencers”, the people on Instagram that have plenty of followers (above 10k on average) have the opportunity to make some money off the pictures they post. However, once you start to venture into the world of top-tier influencers, they have the opportunity to make thousands off a single post.
If you’ve ever been curious about how much Instagram influencers really make, this is the perfect post for you.
How Many Followers Do You Need to Make Money?
In all honesty, it depends on the type of market you’re trying to branch out into. Ideally, accounts should have over 3000 followers if they’re trying to make some money of their posts. Although it might not be enough to finance your entire living situation, it is a way to monetize the content that you put out into the world. The more followers you have, the more outreach you have, and as a result, companies are going to be willing to pay you more for the content that you show to your followers.
How Do Companies Know What to Pay?
There’s a general rate card that companies may follow depending on the influencer they’re trying to get in touch with. Again, remember that the more followers you have, the more money you’re going to make. However, there are plenty of people that have specific rates that companies will have to abide by if they want access to the right amount of brand exposure.
Accounts that have between 3000 and 25,000 followers can make anywhere from $75 to $220 per post. For influencers with 50,000 to 100,000 followers, they can earn up to $500 per post. Finally, accounts that have over 100,000 followers can make well over $500 per post, based on the products and services they’re advertising. There are plenty of people on the platform who make over $1000 per week just by posting pictures.
Why Do Companies Pay Influencers?
The main reason as to why a business might consider reaching out to an influencer is because it gives them up to 20x more exposure than if they were to rely on traditional online ads. Companies have the ability to find influencers that fall perfectly within their target audience and as a result, when they post a photo to their followers (who likely enjoy the same things), there’s a much higher chance that the ad will have higher levels of engagement and much higher conversions.
How Else Do Influencers Get Paid?
However, not all influencers choose to receive monetary compensation for their posts, as there’s a new breed of advertising on the horizon, which is essentially products in return for awareness. Instead of receiving payments on a per post basis, influencers will opt to receive free products and/or trips and vacations to destinations around the world.
Imagine you’re a tourism board of a country that has seen a substantial decline in tourist activity over the years. What would be a better way to show the world what you have to offer than to choose a highly popular influencer and have them visit your country, taking pictures and writing captivating captions the entire time they’re away. For the tourism board, this is the perfect trade as they may only have to spend a couple of thousand dollars on hosting the influencer instead of millions on television and internet advertising.
Products are also a great way for a company to gain exposure, as they only have to give one or two items away in exchange for the perfect amount of promotion. Let’s take Sugar Bear Hair as an example, these hair vitamins are relatively inexpensive in the grand scheme of things and instead of having to pay thousands to an influencer, they spend less than a hundred dollars per person to advertise their products.
Cross-Platform Posting and Compensation
When you’re thinking about how much money an Instagram influencer makes, you also need to consider other platforms. It’s very rare for the most popular personalities to only own an Insta, as many also have a YouTube account, a blog, and even a Twitter. With that being said, the more places that an advertisement can be posted, the more money an influencer can make, depending on the company they’re working with.
At times, you might face a business that says for $5000 we need you to post this ad on 3 of your social media platforms. However, if you’re an extremely popular personality, you may have the ability to charge a single rate per platform that you have. This means that along with the $500 per post that you earn on Instagram, you can also get up to $5000 per blog post and $5000 per YouTube video. For a single advertisement, it’s well worth your time and effort.
Understanding Fans and Ads
With all of that being said, the idea of making a lot of money on social media can be a great opportunity but it’s important to think of the cost. If your following isn’t interested in seeing ads every day, you’re not going to want to continually market yourself to companies, otherwise you’re going to lose a substantial part of your income. This has been a huge problem amongst social media for years, as followers find themselves turning more into consumers rather than fans of a specific person.
This means that you’ll have to take the time to find a regular ad posting schedule that won’t offend your followers but that will also keep your bank account full so you can make the most out of your time online.
How to Become a Social Media Influencer
With such a strong level of competition on the internet and an incredibly saturated market, the most important thing to think about is to start an account as soon as possible. You’re going to want to post photos that are unique and inviting, gather as much of a following as you can, and wait for the right brand partnership to come your way.