Last Updated on July 26, 2020 by Henry Ibeleme
There are numerous ways one can make money on Instagram as an influencer. But the big problem is that many are not ready to put in the work.
You don’t open an Instagram account today and expect the world to be at your feet.
It takes time, consistency, and perseverance. Do you know why being a Nigerian influencer is lucrative? Many are yet to understand its potentials.
The influencer industry is worth over 8 billion dollars, and do you know what that means? All you need to live your dreams is to understand the industry and how it works.
Before I start lecturing you on how to make money on Instagram, here is a quick motivation.
According to Izea, the highest-paid Instagram influencer is Kylie Jenner. She makes approximately one million dollars per post, with over 140 million followers.
Another inspiration is Ariana Grande, who makes close to a million dollars per Instagram post. Mind-blowing, right? I am not promising you will be able to make such a boggling amount, but you can make millions of naira as a Nigerian influencer if you play your ball right.
Don’t you think that’s possible? Wofai Fada charges #900,000 to feature your products, while Tunde Ednut charges #100,000 per post. Another inspiring Nigerian Influencer that costs big is Lasisi Elenu, at #750,000 per post.
The fact is, you can be like them and make money too. But before you begin reading this guide, first check out how To Become An Influencer In Nigeria. The post would act as a foundation on what being an influencer is.
Without wasting any more time, let’s get to business!
Table of Contents
- How To Make Money On Instagram In Nigeria
- The Don’ts Of Making Money On Instagram
- What Is The Two-Year Rule?
- Frequently Asked Questions On How To Make Money On Instagram
- Instagram Success Tips
- Over to you!
How To Make Money On Instagram In Nigeria
1. Build Your Niche And Followers
The very first step to earning from Instagram is discovering your niche. There are tons of niches out there, follow one that aligns with your passion, and you’re good to go.
If you can decide to focus on fashion, travel, business, sports, etc. Discover a lucrative niche that interests you, then build your account around it.
A common mistake people tend to make is having no focus when it comes to using Instagram. To make money on Instagram, you need to treat it as a business.
When you discover your niche, Create A Blog, and produce high-quality content. You won’t experience an overnight growth, but you will see people gradually follow you.
The key to making money as an influencer here in Nigeria is followers. The more you have them, the better your chances.
An Instagram account with 10,000 followers can generate over $1000 monthly. But why numerous influencers struggle to make even $500 is because they lack a guide.
One unique trick that would help you grow fast is HASHTAGS. When you use hashtags effectively in your post, you experience growth almost instantly.
2. Focus On Growth First
Many people want to be Instagram influencers, but they don’t have the patience to grow. If they are unable to make money in their first three months, they quit.
If that is your mindset, you better stop reading this article cause it would be useless.
If you’re passionate about becoming an influencer, you need to understand that growth comes before earning. Companies or brands will not work with you if your followers are just a few hundreds.
At the beginning stage, your aim should be to create high-quality content, amass followers and establish your brand.
Take your mind entirely away from money and focus on building a community of people that enjoy what you do. When you have succeeded in that, companies or brands would be looking for you.
3. Affiliate Marketing
While you’re focused on building a strong brand, you can decide to make a few bucks through affiliate marketing. What the heck is affiliate marketing?
Affiliate marketing is a business model where you earn a commission by promoting the goods and services of a business.
In other words, you earn some money when someone buys a product using your link.
In case you don’t know, affiliate marketing is a major route through which Instagram influencers make money. Affiliate marketing is not rocket science.
The first thing you need to do is apply. Once the platform approves you, you can generate your affiliate link, which you can use to refer people to the website and make money when they make purchases.
You can make money by sleeping all day while your followers order for products and services with your link. That is pretty cool, right? Well, that is not the only way to make money on Instagram.
4. Sponsored Post
When you have gotten engaging followers, now is the time to approach brands and strike a deal.
Take a minute and breath, as this is easy. You don’t need to walk into a company on a suit and a highlander jeep. All you need to do is send an email to a company in the same industry.
An influencer in the health niche can decide to promote some green products or supplements.
An influencer in the music niche can work with upcoming artists to promote their singles or more. The list is endless.
Before you start looking for brands for a sponsored post, ensure your account is exciting and engaging.
The amount for a sponsored post is often on negotiation, and it involves lots of factors too. The first factor is your followers, and your potential reach.
Big companies want to work with influencers who will offer them value for their money. If you’re able to convince them that you’re up to the task, you will get the deal.
Do you know one of the things that would help convince them? A blog, and an Instagram account with lots of quality posts and engaging followers.
5. Sell Your Products Or Services
Aside from affiliate marketing and sponsored post, another way to make money on Instagram is by selling your products or offering some services. Is this possible?
The answer is yes, but you need to discover what your audience needs. Ask yourself:
What do my followers want and are ready to pay for it?
If you’re able to discover that, making money becomes a child’s play. I found that information products tend to work like magic. When you create an eBook that promises to solve their need, you’re made for life.
I wrote an eBook in 2017, and guess what? That eBook is still fetching me money to this day. Let’s say you wrote an eBook that you intend to sell for #5000.
Do you know how much you’ll make when 20 followers make an order?
Let’s do a little mathematics here:
5000 x 20 = 100,000
Before you start screaming, take note that you can make much more than that every month.
Ever wonder why many people find it easy to make money, and others don’t? The trick is working with a stress-free business model.
You might not be able to make millions per post on Instagram, but you can make millions selling unique products that your audience would love. If you’re a pretty good photographer, you can even sell your photos and make money. The list is endless!
6. Public Speaking Gigs
As an Instagram influencer, it is common for businesses or individuals to invite you for a meeting, conference, or seminar. It is another avenue that influencers make money, just to appear and talk in any gathering.
To get this sort of recognition, you need to be prominent in your niche. You have to prove yourself beyond every reasonable doubt that you’re the right candidate.
If public speaking or appearance is not your thing, you can always turn down the offer, or get a representative.
What you must know is that a gig like this spills in mad money, and even exposes you to more connection and contacts.
The Don’ts Of Making Money On Instagram
1. Don’t Buy Followers
A lot of upcoming influencers seem to dabble in this route a lot. The moment you buy a follower, you have failed and exposed yourself to hackers.
Aside from that, you become a no-no to many brands out there.
In case you don’t know, brands usually audit your followers before they do business with you.
When they discover that your followers are not genuine, they will ditch you immediately.
Brands are focusing more on your reach and engagement, not just the number of followers you have.
When you have thousands of followers with poor engagement, brands assume that you’re using bots. To make money on Instagram, try not to make this mistake.
Another dangerous mistake is participating in a follow train, where people agree to follow each other just to increase followers. The problem with this strategy is because they are followers with no interest in your niche.
They might follow you, just to get a follow back from you. But if your followers are not interested in your niche, they won’t engage with your content.
If there is one thing that would kill your journey, it is inconsistent! Making a new post every once in a blue moon would not lead you anywhere. You need to be consistent and passionate.
The more active your account is, the more likely people are to follow you.
To avoid this trap of inconsistency, make a schedule of when you should make a post. It could be five times a week or more. Make a schedule and stick to it!
Have you ever heard of the two-year rule?
What Is The Two-Year Rule?
The two-year rule is simply a decision you take, to focus on a thing for two years without any distraction. When you engage with this mindset, it means you’re going to try making this work for two years. No matter what happens, you will not abandon it for something else.
There would have been more youth millionaires in Nigeria today, had they implore this two-year rule.
But the problem is, we often dumb a path in two months if it isn’t yielding any money yet. The urge to make money is high, but don’t allow it to rob you of success.
3. Not Offering Value
No matter your niche, you need to understand that value is what makes the difference. Nobody will follow your Instagram account if they don’t find it valuable or interesting.
Whatever niche you’re into, your aim should be to offer more value than your competitors.
Offering value is a fabulous way to grow your account fast, as followers tend to repost or tag their friends.
Do you know what that means? More exposure and followers.
Frequently Asked Questions On How To Make Money On Instagram
How many followers do I need to be an influencer?
There is no specific figure, but 5,000 engaging followers are all you need to start making money.
There are many ways to make money on social media, like affiliate marketing, sponsored posts, or selling your products and services.
Instagram Success Tips
Before I wrote this article, I came across numerous eBooks claiming to have the magic formula.
Unfortunately, many of these eBooks are garbage and useless when it comes to implementation. Everything you need to make money on Instagram lies in consistency, patience, and hard work.
If you’re not ready to be consistent, no amount of eBook will help you.
Over to you!
Making money on social media platforms like Instagram is not as easy as first. But if you lay a solid foundation, you will discover why many billionaires say that making money is easy.
When you make money, it means you have understood the rules. In that case, making more money becomes more effortless.
There is no magic; it all lies on YOU.
Do you have more questions regarding how to make money on Instagram? Use the comment box, and I will respond!