Of all the social networks, Instagram stands out as the platform where connectivity meets creativity and the possibilities are endless.
It’s no longer just about posting selfies; it’s a booming market where influence directly translates into revenue. Whether you’re an artist showing off your latest work, a fitness guru sharing workout tips, or a foodie posting delicious recipes, there’s room for you.
But how do you turn an audience into a revenue stream? If you want to learn how to do that, this article will be helpful.
Requirements and eligibility to monetize on Instagram
To monetize on Instagram, you must meet certain requirements. These include having a professional account and complying with Instagram’s community guidelines as well as monetization policies.
Please note that these are the minimum requirements to be able to monetize your Instagram account in at least one way, and each monetization tool may have its own requirements. Also, since you will also be receiving payments, you need to have an account to receive them.
You can check if you are eligible to monetize on Instagram and how by checking your monetization status in the creator tools from your profile settings.
How to activate monetization on Instagram
To turn on monetization, you’ll need to go to your account settings and navigate to creator tools. From there, you can enable the monetization tools you’re eligible for and start monetizing on Instagram.
How to use monetization tools on Instagram
In addition to branded content, which is basically available to almost any Instagram user, there are multiple monetization tools. Each has different requirements and ways of use, so let’s talk a little more in detail about them.
Monetize on Instagram through Badges
Badges allow you to monetize your account through live videos. Simply tap “badges” while you’re live on Instagram and you’ll activate them. The badges will then be displayed next to your username throughout the entire live session.
You must be at least 18 years old to use badges. Also keep in mind that Google or Apple will take 30% of any revenue you generate through in-app purchases.
Monetize on Instagram through Bonuses
Currently only available in English and Korean, bonuses allow you to earn money directly from Instagram. However, you need to be notified by Instagram that you can start earning bonuses. You can then review the terms, view the bonus details, and activate it.
Upon receiving the notification, check the Instagram app to verify the bonus expiration date, as bonuses do not last forever. Bonus program details vary by participant, but branded content is not eligible for anyone.
Monetize on Instagram through Gifts
Instagram Gifts allow creators to earn money through virtual gifts from followers and non-followers on their reels. Viewers can purchase stars to send gifts to, and Instagram offers a revenue share of $0.01 USD for each star received.
To manage gifts on your reels, go to “gifts” in your tools on the pro dashboard. From there, you can enable or disable the feature. You can also disable them for an individual reel, either when creating or viewing it.
Again, you need to be at least 18 years old to monetize on Instagram with giveaways. It also has a follower threshold, which is 500 for US-based accounts and 1,000 for non-US accounts.
Monetize on Instagram through Subscriptions
Instagram subscriptions allow you to offer exclusive content and benefits to your most engaged followers for a flat monthly fee. To start subscriptions, you must complete the setup from the “subscriptions” section in your professional dashboard. You must also specify a monthly price, which can range from $0.99 to $99.99.
Once enabled, you can offer exclusive content to your subscribers. Stories for Subscribers are prioritized, while Posts for Subscribers are highlighted in personalized feeds. Your followers will receive notifications in their activity feed for three days, but you can also notify them immediately.
Monetize Instagram Reels
Giveaways, as explained above, are a great way to directly monetize Instagram Reels. Additionally, you can make the most of your Reels to support your overall Instagram revenue efforts by sharing quality content with consistent and timely posts.
There are many ways to make money on Instagram, but the best ones are the ones you choose and stick to. It takes time, patience, consistency, and perseverance to see results. You won’t get them overnight, but any progress you make will be completely organic. As you build a good following, you’ll find it easier to generate higher volumes of sales.
