Brand collaborations through Vamp aren’t the only way to make money on Instagram.
Collaborating with brands via paid partnerships, content creation briefs or even attending events are great ways for influencers to monetise their Instagram profile. But there are even more ways to boost your earnings on the platform, including new features launched this year on Instagram Live and IGTV.
Here are three ways to make money on Instagram:
#1 Influencer Marketing
Over the years, the influencer marketing industry has expanded – and so have the opportunities for content creators.
Now creators have three ways to monetise their content. They can be paid to shoot and upload content for brands, attend and post about a brand event (although these have come to a pause during lockdown) or participate in content creation-only briefs.
Platforms like Vamp help creators pursue all three by connecting them with brands and simplifying the collaboration process.
Paid partnerships and brand collaborations
Paid partnerships and brand collaborations are when creators are connected with brands, to create stunning in-feed and Story content which is then shared with your engaged following.
These collaborations can help spread brand awareness, drive website traffic and promote new products or ranges. Being a Vamp creator gives you the freedom to decide how many pieces of content you are willing to create for a brief — not only that, we also guarantee you’ll be paid per deliverable you complete.
Similar to paid partnerships and brand collaborations, influencer events bring brands and creators together to help spread brand awareness or promote product launches. Creators are usually invited to attend and paid to share posts and stories from the event.
The number of influencer events have drastically dropped since new COVID-19 restrictions have come into play, however virtual events such as Instagram Lives and webinars still give brands and creators the chance to collaborate in a similar manner. Vamp recently held a live Instagram School series where five Vamp creator shared their industry insights with our audience.
Content creation only briefs
Unlike regular paid partnerships and brand collaborations, content creation-only briefs require creators to only shoot premium still or video content for the brand. No posting on Instagram is necessary in order for you to be paid for your work.
These briefs are perfect for creators who have an extremely curated feed, but still love to work with and shoot content for many different types of brands.
#2 Monetise IGTV
In May 2020, Instagram announced big news for IGTV. Around 200 approved, English-speaking creator partners would be able to feature ads on their IGTV videos
Similar to the way YouTubers make money through ads played throughout their videos, Instagram will be sharing an ‘industry standard’ 55% cut with the selected few, with a goal to expand this group of 200 to more around the globe.
Want to get a head start for when this new update is rolled out globally? Follow our dos and don’ts of monetising IGTV.
#3 Instagram Live Badges
Another monetisation feature introduced in 2020 and designed to support creators, is the new Instagram Live Badges. This year, Instagram reported a 70% increase in IG Live views from February to March. These badges, will now allow creators to generate revenue from this newly popular Instagram feature.
After testing has wrapped up and the feature is launched globally, viewers can purchase up to three different types of badges during your Live. These badges will appear next to their name in the comments section and will be added to your ‘supporter’ list, which you can view during the live.
The three different badge types are:
One heart = $0.99
Two hearts = $1.99
Three hearts = $4.99
Think of these badges as your audience having the opportunity to ‘tip’ you for your work. They will be super useful for creators who use their platform to educate and teach their audience by hosting lives for exercise classes, photography and videography masterclasses or cooking and beauty tutorials.