Whether you have 1,000 or 10,000 followers on Instagram, you can earn hundreds of dollars by simply sharing good content. As long as you have a high influence on your follower base, you’re good to go. However, monetizing your account isn’t as easy as posting photos or growing your followers. Although those are the initial steps, you need to undergo the process of commercializing.
Increase your followers
First and foremost, you need to look at the profitability of your account. The number of your followers is enough to tell you whether you should venture in monetizing your account or not. Having more followers increases your chances of partnering with major brands. Leading companies offer more money per post, which increases your profit.
But take note that your followers must be active and authentic people, not bots bought from a third-party site. If 70% of your followers are bots, you won’t be contributing to increasing the sales rate of the business you’re partnering with. Corporations keep track of their influencers’ contributions, and they will discard their offer on people who didn’t have significant inputs.
In growing your following, take these factors into account to know if you’ve reached the necessary follower size:
- The niche you belong to
- Your posts’ average engagement rate
- Your revenue channels
Know your account’s value
Determining the worth of your Instagram account is a fundamental aspect. Do not overestimate a 1k-follower account nor underestimate a 100k-follower profile. Overestimating only discourages potential clients. And when you underestimate, you’re losing a large sum of money you deserve.
If you’re not sure of your profile’s exact worth range, you can use the Webfluential Influence Estimator. It’ll give you a better idea of how much you should charge for your posts by calculating your follower size and quantifying the average engagement you get. But this tool only measures Twitter value, so you need to register on the site to know your Instagram account’s worth.
Partner with brands
You have the amount of follower size you need, and you know how much you should charge for each sponsored post. Now it’s time for you to partner with relevant brands.
There are two ways for you to partner with companies – the firm will approach you or vice versa. The former applies to accounts that have a massive following and have highly engaging content. If your follower count isn’t that large, you will have to find brands and offer deals with them.