Instagram is a social media platform that has over 6 billion monthly users worldwide. That’s the reason it’s become a great marketplace for brands, and businesses to market their services and products online.
Brands and businesses hire influencers to promote their products and services on Instagram. So, the most genuine and niche followers someone has on IG, the more money they can earn on Instagram.
Most brands and businesses looking for a legit and high number of followers who have high engagement on their posts – likes and comments. The high number of followers with fewer engagements on posts is worthless on IG.
How Much Does Instagram Pay On 1K Followers
According to a recent survey on the 1865 IG accounts, micro-Influencers with 1,000 to 10,000 followers charge an average of $88 per sponsored post and earn an average of $1420 per month.
Apart from it, influencer promotes their own products, and services to potential customers and affiliate programs. Which goes an average of $2100 per month with 1k followers.
However, the earning depends on the profitable micro-niche and followers’ engagement rates. The most profitable niches are Business & Marketing, Fitness & Sports, Family, Beauty, and Fashion.
Brands would more love you if you have a micro niche audience, that is it creates more trust and leads.
Most brands look to engagement rates that are your post’s likes and comments before the number of followers. Because millions of followers with fewer engagement rates are worthless.
How To Make Money With 1k followers on Instagram
You have 1k+ followers on IG, so now you have these three ways to make money on Instagram, to reach the above milestone of $2100 per month.
- Sponsorship With Brands
- Become An Affiliate
- Open Your Online Store
Sponsorship With Brands
Influencers charge an average of $88 fees from brands to promote brands, business products, and services on their feeds, stories, reels, and in bio links. The goal is to increase brand and business awareness in sponsorship posts.
If you have more than 1,000 niche followers with high engagement rates, you can easily find brands to collaborate with and make money.
Become An Affiliate
Becoming an affiliate is to sell other brands’ products and services and you are paid some percent commissions from each sale.
It’s different from sponsorships with brands, here the goal is not brand awareness and promotion. The type of content and wording help you get more sales from your affiliate links.
There are hundreds of affiliate networks looking for affiliates, to sell their products on IG, with a high percentage of commission.
Open An Online Store
You can open an online store on Shopify or WordPress to promote and sell your own physical products and services on IG.
If you can’t hold physical inventory, start dropshipping on Instagram to boost your earning. This is the best model of business on IG with less number of followers.