Influencers and content creators are the bread and butter of social media, but gaining a steady revenue from sharing your hard work online is tough. Despite over 46% of all marketers using Instagram for their influencer marketing, gaining a steady income on the platform can be difficult for new influencers. However, you can generate multiple streams of income to improve your chances on the platform. Let’s look at how to make money as an Instagram influencer in 2024.

1. How to make money as an Instagram influencer
   1. Open subscriptions and release exclusive paid content

If you have a solid relationship with your audience, many of them will want to support you. Instagram subscriptions allow subscribers to support you in exchange for exclusive posts and livestreams, but it’s only available to professional accounts with over 10,000 followers.

There’s no need to worry–many Instagram influencers also have support systems built on third-party websites like Patreon or Ko-fi. You can create exclusive content (like bloopers, behind-the-scene antics, or subscriber request posts) for your subscribers, drawing in a good chunk of income over time. 

Just be mindful that this revenue source is supported completely by your audience. You’ll have to be careful about how you present yourself to avoid any scandals that could risk it. 

2. Sell merchandise on the Instagram Shop

Creator merchandise has been around since before the dawn of social media itself–for good reason. With the advent of print-on-demand and merchandising services like Shirtual, printing custom t-shirts or patches with your logo on them has never been easier. 

You can put these products on Instagram Shop, an in-app commercial platform that lets you link your merchandise directly on posts and other forms of content. 

What type of merchandise should you make? T-shirts and hats are all-time favorites, but in the competitive market on Instagram, you want your merch to really stand out. Check out Shirtual’s lookbook for more merchandise ideas, and consider the different materials you can make with your prints.

3. Team up with brands on sponsored content

Sponsorships are a great step up from supporter-centric incomes, though they do come with strings attached. Sponsoring another brand’s product requires understanding how you can benefit each other, what kind of content you can make that will engage the audience and promote the product, and all other details.

If you’re starting out small, you’ll be the one to approach brands with collaboration requests. This requires a bit of pitching to different brands. What your final deal will be depends on negotiations, but there are expected rates. Nano-influencers (below 10,000 followers) typically earn between $10 to $100 per post, while influencers with followers between 10,000 to 100,000 can earn $100 to $5,000 per post. Some brands will also offer free products as compensation instead.

When you get big enough, sponsors from your field will often directly message you, looking for collaborations or influencer marketing deals. When they approach you, remember your own worth. Think about whether or not you want to be associated with what the brand is selling–some brands, like casinos or shady mobile apps, may impact your overall image. 

Even if the brand’s image matches yours, consider the compensation. Are they only offering you free products in exchange for a lot of content and ads? Do their sponsor compensation match your engagement and follower rates?

You may also take on various affiliate marketing programs, which give you a commission for every product you sell. Many programs let new influencers join for free, so it allows you to try your hand in sponsorship to get a feel for what sponsored content works and what doesn’t.

4. Run workshops and educational content 

As an influencer, people may be drawn in by your specific set of skills and would like to emulate it in their own lives. Maybe you’re an artist who specializes in animation, or a stylist who specializes in urbanwear. Whatever it is you’re good at, you have the opportunity to teach your skills and sell it in courses.

There are a number of online course platforms that allow you to post course content and sell it to your curious audience. Some, like Skillshare, specialize in creative skills, while others like Podia are more service-heavy. Choose a site that works best for your niche, and encourage your community to hop on through your main Insta account.

2. When can you start earning as an influencer?

The short answer: Anytime, as long as you have a solid personal brand and niche.

The long answer: While many revenue streams are locked or limited behind follower count, earning as an Instagram influencer isn’t as much of a number game as you may think. When shaping your approach on how to make money as an Instagram influencer, think of these questions: 

1. How many followers do you need to start earning money?

Some features on Instagram may be locked behind follower counts. For example, the experimental Livestream Badges function currently needs 10,000 followers to unlock it for U.S. influencers. 

However, most functions like the Instagram Shop or branded sponsorships have no follower count limit. You may be limited by your reach, but you can still make an income on Instagram–even with a follower count in the hundreds. 

What’s actually important is the strength of your community, and how engaged people are to your personal brand.

2. What’s your brand?

No matter how small or insubstantial you think your account may be, people follow you for a reason. Finding that reason and building a community and face out of it is the essence of branding. Strong branding not only leads to growth but also attracts attention from sponsors and other brands over time.

We’ve talked about how to build a brand from an apparel perspective, but here are some basic questions you want to answer as an influencer:

• Target audience: Who does your content cater to the most? What are your current follower demographics? Broader fields can have defined audiences (i.e. menswear stylists cater to men) but there can be a lot of niches within one field to explore (i.e. menswear stylists can cater to older men, younger men, cityfolk, rustic country workers, etc.). Take advantage of Instagram polls to find this out.
• Pain points: What gap does your content fill for your audience? Travel influencers give useful tips on how to travel or provide beautiful locales for workers dreaming of their next vacation. Menswear stylists show their audience how to dress in different occasions, what styles look good on them, how to shop on a budget, etc..
• Appeal and Aesthetic: What makes you different from other influencers in your field? How does your visual identity make you stand out?

Those are just a few things to think of when you’re considering how to make money as an Instagram influencer. The most stable and long-lasting investment you can choose, though, is making products and merchandise your audience will cherish for a long while. Don’t know where to start? Contact us at Shirtual to bring your brand creations to life.