Making Money Off Instagram: How Do They Do It?
It seems that everyone is finding creative ways to make money from home these days, with many fashion bloggers and It girls turning to the art of perfect Instagram photos to rake in the dough. It seems counter-intuitive really. Instagram is a social media site, one which allows for the average individual to post up his or her photos, currently also including GOFs and short videos, for friends, family and even complete strangers to enjoy. It was never made to be a money-making machine, but somehow it has developed into just that. Though the manner by which such a feat is accomplished leaves us flabbergasted, at least until we learn about the techniques used.
Bloggers have had to be very creative of late when taking on new approaches to making money off content placed on their own websites. They had to really do their research and figure out what is feasible to make money off of and what is not. Many have turned to such things as product advertising and exclusivity on featuring certain information, which has, in turn, granted them a higher standing on the digital social strata. So why not take strategies that work tremendously well for a website and apply it to other forms of social media, Instagram being the best because of its image related focus.
Taking this into account, Danielle Bernstein of We Wore What has revealed quite a bit about how an average young man or woman can use the awesome social medium to make the kind of cash people generally would never even think of ever having. Bernstein herself is but 22 years old at the moment and someone we certainly look up to when it comes to monetizing modeling images.
In the big reveal, it was stated that brands not only send in free products in the hopes of having bloggers feature them on their sites in order to gain much in publicity and a decent advertising platform, but they also pay the ladies and gents themselves a hefty amount of money for each image posted on Instagram. This concept is not new in the least and already has many wary about paid recommendations, but that is how the world words these days.
See also: The Business of Fashion Blogging
There are certain things you need to beware of though, and who you associate with may put a stain on your own reputation and character. It is super important who you follow and who you befriend in the blogging sphere.
You also need to focus on quality consumers becoming your fans. Your market is technically your followers, and the more you understand them and the better quality they are, the more success you will find in your blogging and Instagram work. There are multiple milestones in the Instagram money-making business as well, so if you have over a million followers, you are sure to be making a lot more money than a young person generally may these days.
Using hashtags along drams in a whole lot more people, particularly if they relate to the photo published. Using a broad hashtag also means that you will show up in a lot more searches, increasing your organic viewers tenfold.
The content you place on your Instagram account is what drives your traffic and ultimately your consumer base. You need to be the master in whatever it is that you “sell’ through your Instagram feed, while experimenting with cameras means that you can get some very good quality images without having to upgrade your phone itself.
Now, how do fashion bloggers actually make money off their Instagram photos? There are a few ways.
The lazy way that does not require such a big follower base is through using services such as Twenty20 where you place your photos on their site and they take care of printing and shipping, allowing you to keep 20% of the income from each sale. You can also have your own website with your own online store and keep track of every order yourself, though that increases the responsibility placed on your shoulders and becomes more of an invested business plan.
You may also decide to use your Instagram account in order to market others’ brands, which will require a lot more followers on your end. You will want to figure out the best strategies to increase those numbers. Then you set about contacting companies and offering your incentives to them, creating awareness for their latest products. You want to show off the fact that you can take clearly artistic pictures as well, that really display the items in the best possible light.
Quickshouts and Popular Pays are services, which connect people with companies who are looking for someone to promote through Instagram. Contracts come in handy, highlighting the work you will be doing for them, for a certain period of time. The way you work is what determines your pay and your likelihood of getting future contracts.
If you do things right, you might actually make it to Danielle Bernstein’s level as well; she makes up to $15,000 for a single Instagram post! She has 992,000 people following her on Instagram, or at least had a few days ago, and that in itself is major incentive for companies to pay to get their brands noticed.
Some brands spend upwards of about $1 billion a year on sponsored Instagram posts, which literally opens up new avenues for increased cash flow when it comes to the ladies who have a business savvy mind and understand the needs of both retailer and consumer alike. The better known you are in the world of business for your Instagram posting acumen, the better you can negotiate contracts with potential sponsors and the more likely you are to receive many a gift from all over.
This also allows you to play with selectivity and ask for something different from the retailer, whether a style or color in that particular product. This is one 22-year-old who is able to support herself through Instagram posts alone and that means she’s making upwards in the 6 figures when it comes to her salary.
To recount the numbers according to Bernstein, if you have a few hundred thousand followers, you can charge between $500 and $5000 for a post on Instagram. If you have over 6 million, let’s just say that a casual selfie can land you $100,000 a shot! That is beyond crazy!
You would make more money with a single photo uploaded than most people make in a year! Perhaps we should all consider a stellar career as Instagram photo experts!
Photo courtesy of We Wore What