Have you thought about how much Instagrammers can earn? Chances are you’ve seen products or businesses being endorsed by someone you follow. Now, you’ve probably thought to yourself, “Are they getting paid for this?” “How much?” These influencers have created a digital empire by taking a few high-quality photos to promote the latest trend. The reason this has turned into a job is due to their influx of social engagement. A good Instagrammer has reach and influence figured out, which are two things many companies have trouble with. Reach and influence are what creates the opportunity for Instagram creators to explore multiple streams of potential revenue. So let’s take a look at how much Instagrammers can earn and how you can boost your income:
How Many Followers Do You Need to Earn Money on Instagram?
Typically, you’ll need at least 10,000 followers to start becoming an influencer. Some brands pay between $5 to $10 per one thousand followers, while others offer $100 for every 1000 followers you have. According to USA Today, an influencer with 10,000 to 50,000 active fans can make up to a few thousand dollars per post and Instagram influencers with approximately 1 million followers can make up to $10,000 per post! Of course, there are even some influencers with over 1 million followers who charge $100,000 or more per post. However, here’s the real secret to making money: engagement.
For a long time, brands and companies would only look at follower count. Their thinking was the more followers an influencer had the more eyes would see their products or services. However, that led to a massive uptick in influencer fraud. Influencer fraud is when influencers pay for fake followers. It’s very easy and very cheap to pay for bot accounts to inflate your follower count. But fake followers will never buy products or services because they aren’t real people! This resulted in a lot of ad spend waste for companies and brands who never saw an ROI on their influencer marketing campaigns. In fact, Influencer fraud accounted for $1.3 billion of wasted ad spend in 2018 alone!
Now, people are beginning to understand that it’s not only about the number of followers you have but about how many real people actually like and comment on your posts and engage with your Instagram account. How much Instagrammers can earn is based on active engagement. With an engaged audience, the more likelihood there is for a brand or business to get in front of the real people they want and see an ROI. If you have an engaged audience in a specific niche, that’s when you can start to see some real revenue from being an influencer.
How Can You Prove Engagement?
This is a great question and one that Sylo can answer! Sylo partners with brands, agencies, and influencers to provide the only independent data verification, fraud detection, and performance analytics solution. We certify the value of quality influencers and allow marketers to avoid purchased and unengaged audiences to see an increase in ROI. Sylo prevents fraudulent influencers from taking work and driving prices down!
We always use authenticated and verified data because authentication is the only way to collect accurate and complete influencer data. With authenticated data, influencers voluntarily provide transparent access to their information, which also provides the only way to judge their audience’s quality effectively! When you use Sylo for independent vetting and verification, it’s easy to prove your audience engagement levels! In turn, this makes it easier to charge what you’re worth and help your brand sponsorships avoid ad spend waste and see an ROI!
How Can You Negotiate Better Rates?
Building a loyal and engaged audience in a specific niche is the best way to negotiate better rates. Brands are happy to pay for results! So prove your results to them with Sylo. When you become Sylo-certified, it will help you elevate your brand and secure more deals. Our verified performance benchmarks will help you negotiate better rates by proving the quality of your Instagram account. Plus, we help you save time with automated reporting, and you have access to Sylo’s experts for any monetization or diagnostic questions you may have.
Contact Sylo Today to Start Earning on Instagram
Whether you’re thinking of becoming an influencer or you’ve already started to make some money off Instagram, contact Sylo today! We can help you verify audience authenticity and performance measured through ongoing observation of interaction, demographics, and growth. When you become Sylo-Certified, you’ll differentiate your brand from the crowd and secure bigger, better brand partnerships!