How to make money as an Instagram influencer
Becoming an Instagram star is the go-to career choice for hipsters keen to share photos of food, fashion and travel. Building a following on the photo-sharing app has become big business with the most successful accounts raking in tens of thousands of pounds.
Fancy joining them and finding out where best to invest your Insta-income? (An easyMoney account offering between 3.67-8% per annum, is our recommendation.)
Read on to find out how...
How Instagram works
Instagram is all about influencer marketing and your aim is to become an “influencer”. How do you do that? Well, the first step is to curate an Instagram feed which encourages people to follow you.
Most people do this by picking a subject they’re passionate about and posting related snaps – pets, travel and sports accounts tend to do well. Others simply post photos from their day-to-day lives.
Influencers are people who have grown their social media following to the point where companies will pay them to picture or mention their product in posts. Hence the term “influencer marketing”.
Collaborate with brands
Once you have plenty of people engaging with your Instagram feed, it’s time to start building relationships with brands. You can do this by following brands you like and commenting on their posts.
If they like what they see on your feed they might ask you to collaborate with them on a sponsored post. This might involve giving you a freebie on the understanding you’ll post about the product.
Instagrammer with the biggest followings often receive cold hard cash to mention brands or products. But advertising rules state that if you’re paid to post or mention a product, you’ll need to be clear about this by using a hashtag such as #ad, #sp or #sponsored.
There are several apps which help Instagrammers connect with brands – check out Takumi, Tribe, Snapfluence and InstaBrand.
How much money can you make?
According to Tribe, an Instagrammer with 3,000 to 10,000 followers could earn £50 to £100 per sponsored post. If you can get your following to more than 10,000 followers, the figure rises to £100 to £180 per post.
You really hit the big time when you amass 100,000 followers or more – Instagrammers with this kind of following can charge £350 or more per sponsored post or advert, with those most in demand charging well over £1,000.
Invest your Instagram income in an easyMoney IF ISA
For most people, Instagram will just be a side hustle – a way to make a bit of extra money – but some will go on to make being an Insta-celeb their full-time job.
Either way, it’s a good idea to save or invest as much as your income as possible. Interest rates are low at the moment so you won’t see a decent return from keeping your money as cash – investing it is a much better idea.
easyMoney’s IF ISA, allows you to invest up to £20,000 a year in peer-to-peer loans in a tax-efficient way. The easyMoney IFISA has an annualised target return of 3.67-8% and all lending is secured by UK property, giving you peace of mind. With easyMoney’s regular investment account you can invest as much as you like.
You can open an easyMoney account at easymoney.com or by calling 020 3858 7269. You can either start from scratch or transfer from other stocks and shares or cash ISAs. The minimum investment is £100. Remember, as with all investing, your capital is at risk. If you invest £1,000 or more you’ll receive an easyMoney Plus card for free offering some serious discounts at more than 100 of the UK’s biggest retailers.
easyMoney is not a cash savings account. You may not get back the full amount you put in. Your capital is at risk if you invest. Peer-to-peer investments are eligible for an Innovative Finance ISA which is not a Cash ISA. They are not protected by the Financial Services Compensation Scheme (FSCS). Money invested through easyMoney is concentrated in property and could be affected by market conditions. For the same reason, instant access cannot be guaranteed. We do not offer investment or tax advice.
easyMoney is the trading name of E-money Capital Ltd, a company incorporated in England & Wales. Registered office is 5 Fleet Place, London, England, EC4M 7RD (Company No. 04861007). E-money Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA) #231680.