There are more ways to make money on Instagram aside from the newest IGTV Ads, these are creating your own video streaming service, teaching what you know, selling self-branded products and many more.
A couple of years ago, Instagram enrolled what is a hit for YouTube and other platforms that pay content creators for their content termed IGTV Ads and it has revamped it with a whopping $1b for followers who will use the platform.
As said earlier, this Instagram monetisation has been in existence from the word go in more personal form for those who were to able garner some number on the photo-sharing platform. Few of them we know of, the likes Dwayne Rock Johnson who makes a whopping $1m+ for sponsored ads on their page, Kylie Jenner, Cristiano Ronaldo [ earning from the platform more than his professional footballing career ] and the list goes on for brands or individuals who will like their product before their followers.
Then, Instagram begun testing google sponsored ads for the platform last year and finally introduced it midway this year [ currently, for a selected few ].
WHAT ARE IGTV ADS?
IGTV Ads are the new way for content creators to monetise their content on Instagram. According to Instagram, ads will appear when user clicks to continue watching a video on IGTV from the preview button in their feeds. They will be mobile-optimised, vertical videos and they will last up to 15 seconds long before the user proceeds with whatever content he/she is enjoying.
This is part of the huge announcement from the Facebook social media family [ Instagram, WhatsApp and Facebook ] that they want to splash a $1b on content creators.
Now, if you look closely, most content creators are getting paid on Facebook already and the biz has started on Instagram too.
Now, if you are wondering why Mark Zuckerberg put a price tag on these creators, then you are thinking just as I do when first saw the news. This is to ‘lure’ the creators to move onto the platform. Yes, to lure them with money.
Currently, most trendy videos are coming from TikTok [ even at a time it was paying creators ]. In other words, most creators are on TikTok and youtube as compared to Facebook and Instagram. And as a businessman like Mark, the best he can do is challenge the market by offering a price that will move these creators onto his side.
Recommended article: Instagram Story Likes Enrolled To Be Released.
Facebook’s $1b pledge also falls in line with other creator funds handed out by other major social media platforms. When Tiktok first released its creator fund, the company said it will start with a $200m payout. This figure sharply rose to $1b in no time for U.S creators to be paid over 3 years. Perhaps this was to keep more U.S creators on the platform at a time banning the app in the U.S was a major debate.
Youtube meanwhile, launched a $100million fund in May for creators making short videos that will be paid out through 2022, while Snapchat has paid out $130m to spotlight creators the same month. Spotify has also unveiled its own fund for podcast and live audio creators a month before Facebook’s but has declined to share how much funding is available.
That is to say, TikTok is the only social media platform matching Mark Zuckerberg boot-to-boot or let’s say giving him a run for their money. Whereas, Facebook is allegedly paying huge gigs to TikTok creators to move to Instagram and use its copycat call reels, according to Wall Street Journal.
WHAT MAKES YOU ELIGIBLE FOR INSTAGRAM MONETISATION?
Now, according to Mark’s statement on Facebook, the service will be invite-only, but some creators can apply and be accepted into other monetisation programs like reels or live streaming on Facebook or in-stream ads.
If you are invited by Instagram for the program, all you will have to do is to provide answers to some questions about your financial background, like your TAX id, real or full name etc, then you will be directed to turn on ads on your videos, the videos get reviewed and you start earning [ at a threshold of $100, you receive your pay from Instagram ].
However, if you are not invited by Instagram onto the ads serving program, you will have to apply by turning your IG page into a brand, get approved and turn on badges for your brand [ Badges are essentially a monetization feature that allows people to “tip” their favourite creators. The idea behind badges is to simply allow fans to express their love through badges that they can purchase while watching a live video.]
To be eligible for this if you are invited, you will need to have;
- You must have videos of 3 minutes minimum long on your page [ 0 – 30 secs = reels, 0 – 60 secs = field post, 2 or 3 minutes + videos = IGTV videos. And since we are talking about IGTV Ads, we go by the latter ]
- Video must go by the rules of Instagram [ no violence, strong and foul languages, no sexual content, no child abuse, and finally, the video must be the original version ]
- Your Instagram account must have at least 10k genuine followers with a good to a high engagement rate of at least 2.5 per post.
- A minimum of at least 30k combined views on all your videos over 2 months with a view equalling at least one minute of watch time.
HOW TO GET PAID VIA IGTV ADS
Getting paid by Instagram through their monetisation platform is as simple as you can imagine but there are few things to do personally whether you got invited by the platform or you applied for it.
After making sure you get past the eligible standard, Instagram has not released any info about banning creators from the platforms in case they offend the rules but l guess, your content may not get monetised if you fall in the following ditches:
- Maximize your earnings, avoid engagement baiting
If your video incentivizes people to click on a link or solicits engagement in exchange for extreme behaviour, it may not be monetizable. - Earn only with 2+ minute videos
Your video needs to be 2 minutes or more to monetize (sweet spot, 2-4 minutes). Static images, polls, looping videos, slideshows or text montages won’t qualify. - Turn on Feed previews to earn
IGTV ads appear when people click to watch IGTV videos from previews in their feed. And since videos only earn based on Feed views, you must have feed previews toggled ON. - Content must be your own
The content you share must be your own and you need to own the rights to any music used. Also, for video length, 2-4 minutes is the sweet spot. - Get Most Of IGTV Ads
Content must be your own
The content you share must be your own and you need to own the rights to any music used. Also, for video length, 2-4 minutes is the sweet spot.
Ideal video length
The IGTV sweet spot is slightly longer, at around 3-5 mins. It’s time to have fun with longer content.
Organize with the Series tool
Bunch videos and make it easier for fans to find and watch.
Now, to receive your cash from Instagram after successful monetisation after hitting the threshold of $100, you will need to connect your bank or Paypal account.
When you monetize content on Instagram, you are giving brands the ability to promote themselves within the videos you create.
How much you earn will be based on the number of views your video generates (aka Monetizable Plays). You’ll get 55% of the ad revenue generated per view that will be paid monthly. Once ads are enabled, new monetization metrics can be found in Insights.
The insight shows you your status [ whether ads are running or not, ], approximate earnings, monetisable plays, monetisable plays RPM.
HOW TO TURN ON IGTV ADS
This feature will not available for you if you don’t meet the requirements per location, followers, plays and views on your account. But if you are eligible, you will have to go to your
- Account settings
- From there, you click on ‘creator’ >> tap ‘IGTV ads’.
- Tap get started >> read and agree to terms and conditions and toggle ‘allow monetisation’ on your existing IGTV videos
- Tap ‘continue’ to finish.
HOW TO CONNECT BANK FOR IGTV ADS PAYS
To set up direct deposit you’ll need your SSN or EIN number and bank or PayPal information handy. Make sure you first enter your payout info during onboarding. You can also change your info in “Settings”. After this, anytime you hit the $100 threshold, you receive an email the follows the deposit into your wallet provided.
MORE WAYS TO GET MONEY ON INSTAGRAM ADS [ IGTV ADS ]
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Branded Content:
Since you’ll negotiate the terms of every branded content deal, each will be different. But it’s always a good idea to provide the brand with data, like your number of followers, an average number of likes, views, comments and shares your organic content and past branded content deals have received. All of this will help back up why you deserve a certain rate.
SHARPEN YOUR BRANDED CONTENT
Just Do You:
Since you’ll negotiate the terms of every branded content deal, each will be different. But it’s always a good idea to provide the brand with data, like your number of followers, the average number of likes, views, comments and shares your organic content and past branded content deals have received. All of this will help back up why you deserve a certain rate.
Own your partnerships
When a brand sponsors your content, they’ll expect to see their product front and centre. And your followers will appreciate your transparency as well.
Create mobile-friendly content
Always capture video content vertically. And since the content is often viewed without sound, try to add copy throughout or enable subtitles in advanced settings.
Prohibited and restricted categories
Certain products, like drugs and weapons, can’t be promoted as branded content. And others can only be promoted with restrictions, like alcohol. See the full list
Format restrictions
Don’t include pre, mid or post-roll ads in videos or audio content. Don’t include banner ads in videos or images.
Always disclose paid partnerships
If you’re getting paid in any form for your content, you’ll need to add a Paid Partnership label. Unsure if yours qualifies?
2. INSTAGRAM SHOPPING
OPEN SHOP
When you follow these steps for creating a shop on Instagram, you get access to features like product tags:
Step 1: Convert to a business account.
Step 2: Connect your Facebook Page.
Step 3: Upload a product catalog.
Step 4: Complete account review.
Step 5: Turn on Shopping.
SHARPEN YOUR SELLING GAME
Make it official: Let fans know they can buy from your profile
With the launch of your shop, make sure you let fans know you’re open for business.
Start tagging: Make all content shoppable
Tag products on any Instagram surface. When a fan taps, they’re taken to the product detail page, where they can buy.
Get organized: Make your shop engaging
Make your products more inviting to browse by creating interesting product detail pages and by organizing them into collections.
Be a tease: Drive anticipation
Product launches that are pre-promoted are more likely to succeed. Use the countdown sticker in Stories to tease merch drops or back-in-stock items.
Reach further: Invite others to tag
Tap into new audiences by enabling other Creators, industry professionals and publications to tag your products through Shopping from Creators (available with checkout only).
3. EARNING ON INSTAGRAM THROUGH BADGES
When fans purchase badges, you’ll see heart(s) next to supporters’ usernames. You can also see the total number of badges purchased and your total earnings. To see more in-depth earnings, tap “View” during your Live video. Or to see your total badge count, head to “Badges Settings” anytime after it’s ended.
Did you know fans can now purchase multiple badges, during your Live video in $0.99, $1.99, and $4.99 increments?
TURN ON BADGES
In just a few taps you can turn on badges and start earning on your Live videos.
Step 1: Onboard – go to “Profile,” then “Professional Dashboard,” then tap “Grow Your Business” then “Badges”
Step 2: Go live – once you’re onboarded, tap the “badges” icon on the left side of your “Going Live” screen. Confirm you want badges turned on, add a title, then go live!
Set up direct deposit
To set up direct deposit you’ll need your SSN or EIN number and bank or PayPal information handy. Make sure you first enter your payout info during onboarding. You can also change your info in the “Settings”
Badges in Live is currently available to eligible creators in the US, UK, France, Spain, Italy, Germany, Japan, Australia, Turkey, Brazil and Mexico.
