Instagram is currently the most talked about social media platform globally, with over 1 billion active users.
Celebrities, influencers, brands, and private individuals all have Instagram accounts.
As a result, Instagram is being discussed more seriously than other forms of media.
Now straight to the topic…
Is it possible to make money on Instagram?
How can I make money on Instagram in Nigeria?
Well, the truth is you can earn on Instagram and it’s very much possible.
Lots of people are so obsessed with Instagram, and I believe you wouldn’t want such an audience to waste away.
Just like you do different things to earn cash on your website, Facebook page, and co.
You can even earn more with Instagram.
Many brands and entrepreneurs are bringing their businesses to Instagram.
This is because of its prospective market size.
Perhaps all you do is just post fancy pictures or stories on your 50k follower Instagram page.
There’s more to Instagram than just doing that.
Well, don’t let such big audiences bring you zero funds when you can actually cash out on them.
Even celebrities are earning big on Instagram, but you might not be informed.
As long as you have a good number of devoted followers, there are actually a lot of things you can earn money from doing on Instagram.
Top Ways to Make Money on Instagram in Nigeria
Here are the best ways to earn money on Instagram in Nigeria:
1. Become an Instagram Influencer
To become an Instagram influencer is to have a reasonable and devoted following on the platform.
There are many people in Nigeria who are not musicians, actors, or models.
They just post on Instagram, have lots of followers, and are very popular.
Social media influencers can earn as much as possible.
You can also attain this height by posting frequently and building a convincing audience.
As an influencer, you can earn money by posting sponsored posts or advertisements on your page.
Once you have an engaging audience that people can see, many entrepreneurs, brands, and business people will contact you to help them advertise their business or products on your page for a specific payment.
You are the one who decides how much you want to be paid depending on the type of advertisement they want.
You can as well build a price list for that so that any time they reach you, you show them.
However, you shouldn’t let money impede the relationship between you and your followers so that you won’t end up losing lots of them.
Once they perceive your page is becoming boring and littered with advertisements, you will definitely lose engagement.
Be sure to mind the sponsored post or advert you post, and you can also make use of hashtags so people know it’s an ad.
Also, you can become a brand ambassador for different brands as an influence, which involves paying you for the contract years you signed with them.
2. Start Dropshipping on Instagram
Dropshipping is a type of business model that allows you to sell products you don’t actually have in stock.
With dropshipping, your duty is just to advertise a product, then your supplier or manufacturer handles delivery.
You advertise different foreign or local products on your Instagram page.
Once someone pays you for any product, you tell your dealer to ship it to the person.
So, all you do is advertise, get paid, buy, and tell the supplier to ship to your buyer’s address.
The business is pretty simple, and you can earn lots of money from it.
There are lots of dropshipping websites where you can get goods at cheaper rates, then order in mass and get them delivered to your buyers.
Amazon, AliExpress, Alibaba, and eBay are mostly used by Nigerian drop shippers.
This is because you can get very cheap and quality items from them.
For goods you are buying from overseas stores like that, you take preorders first for like 2 weeks, where you will post different products with their price tags.
Once you’ve had lots of orders from people, you then close that batch of preorders, order those items, and get them shipped to your buyers one by one.
You can also build your own dropshipping store with WooCommerce and Shopify to make it an alternative to your Instagram.
As long as you have an audience that trusts you, it’s a good business you can start with very little capital.
Before starting out, try to experiment with the niche that you choose.
3. Use Instagram for Affiliate Marketing
Affiliate marketing is another good way through which you can make lots of money on Instagram.
This is very much like dropshipping, as you don’t need to have any stock of your own before you sell and make money.
Affiliate marketing is actually a business of selling other people’s products for them and getting a commission on each sale made through you.
There are several local and international platforms where you can get registered as an affiliate marketer.
You will be assigned a link which, when a buyer comes in and purchases through the link, you get credited with a payment called an affiliate commission.
Also, on Amazon, ClickBank, Bluehost, Fiverr, and other international sites.
There are even more ways of acting as an affiliate without the use of URL links.
Almost all industries want people to bring in customers for them.
Real estate, automobiles, travel, and other agencies are inclusive.
Products you advertise can be physical or digital products.
You just have to advertise, paste your link, and ask your followers to register or buy via the link.
As affiliate marketing demands, you must be convincing and creative, or else your efforts will be futile or semi-futile.
4. Sell Your Own Products
If you have any business, why not bring it on board?
You can create an Instagram business account where you will post ads for what you sell.
From there, you can start taking orders from the intending buyers.
There’s actually no product you can’t sell on Instagram as long as it’s legal.
Fashion, cosmetics, gadgets, etc. are products you can sell.
You can also create an Instagram shop.
What you do on your real page is tag your posts with your Instagram shop so they can go there and buy what they want.
This is the best way to sell on Instagram, but you can only do that with an Instagram business account.
Though the feature is new on Instagram, you can try to give it a shot.
Apart from its uniqueness, it also gives your business a good outlook as you can create different labels or categories of products you have for sale.
Almost every brand now sells through their Instagram page.
But before you can get reasonable results, you need a quality audience.
5. Start an Instagram Blog
This seems to be the most popular means of earning money on Instagram.
There are lots of blogs which I believe you know on Instagram.
The names are there: Lindaikeji, Tunde Ednut, Yabaleftonline, Gist Lover, Legit.ng, are very popular among them. All these are popular blogs on Instagram.
All Instagram bloggers do is post information, gossip, trending news, and videos about different people and topics.
To grow your Instagram blog, making use of popular hash tags can make your post go viral.
You can even drive traffic to your blog website through your blog on Instagram.
6. Monetize Your Instagram
This is actually unknown to many, but it’s real.
Just like YouTube channels, you can monetize your Instagram account.
You get paid by the number of views from in-stream ads placed on your video on Instagram.
Different brands can display their ads on your posts, especially videos, so you earn from the ad-views or monetizable plays generated through them.
I believe you would want to know how much you can make per ad view.
Actually, there’s no particular specific amount you are paid per view.
Instagram only pays you 55% of how much is generated through them.
Here’s how to get your Instagram monetized:
- Go to settings on Instagram
- Click on in-stream ads and press Get Started.
- You will be displayed to allow monetization.
- Click on Continue. Then you are done!
Criteria for Instagram Monetization:
- Your video must be plagiarism free and original.
- Any song you intend to use must have been granted permission to be used.
- The minimum length of video is 2 minutes or more.
- Slide show videos, pictures, Instagram polls, and combined texts are not monetizable.
7. Earn Live Badges During Live Sessions
This is an extra feature on Instagram, copied from TikTok virtual gifting.
During any of your live sessions, your viewers can buy live badges to comment with hearts and also unlock access to your badge lists.
A heart costs $0.99.
So, it’s really lucrative if you have an audience that is like friends with you.
8. Buy and Sell Instagram Accounts
This is another simple yet very lucrative means of earning on Instagram.
In fact, this business has been there since Instagram.
Lots of people find it very difficult to grow their Instagram from scratch, so they often seek to buy ones that have had lots of followers already.
You can take this up and grow as many accounts as possible and sell them to people.
You can even buy already-grown Instagram pages at a lower price and then resell them at a higher price.
It’s really a cool business you shouldn’t underrate.
In fact, I know a couple of people who make a living by growing, buying, and selling all social media accounts, and they make a lot of money.
You might as well want to give that a shot if you find it interesting.
9. Manage Instagram Accounts
Another good way you can earn on Instagram is by helping people manage their Instagram accounts.
Many brands, celebrities, and influencers often employ the services of an account manager to help them manage the running of their Instagram account.
You can really make a lot of money through this, depending on your client and the weight of the task you are assigned.
For Instagram business accounts, you can even earn up to ₦200,000 a month because many brands that sell on Instagram need some people to help them take orders and render 24 hours of customer service help.
10. Help People Run Instagram Ads
Many people are still unfamiliar with creating Instagram ads.
So, you can take advantage of that and help people run it.
Even on freelancing platforms like Upwork and Fiverr, lots of brands are in search of people to help them run ads that can convert and bring sales to their business.
This is like another model of digital marketing.
You can take courses on how to create brilliant Instagram ads or learn from other creators on YouTube.
11. Sell Your Photos
Since Instagram is all about stunning photos and videos, why not consider selling your photos?
This is best if you have some photography skills.
You can sell your Instagram photos on platforms like Foap and Twenty20.
Brands can buy them and get them licensed for their commercial use.
Thus, they pay you to use them.
There are even more ways you can earn on Instagram other than the ones listed here.
It’s an endless opportunity.
Instagram has more engagement than other social media, so the audience is there for you.
All you have to do is follow the right steps and you are good at making money on Instagram.
However, earning on Instagram is not as easy as it may look, but it’s an achievable feat.
First, you need lots of audiences and followers at least 10,000 or more and then you need to engage your audience.
Even if you have lots of followers, if they are actually not engaging, then it’s useless.
It’s best you grow a friend like audience if you want positive results.