If you happen to be on Instagram, you must have heard about Instagram influencers. They created a digital empire by establishing their credibility in a specific niche. They attract a large audience consistently and can motivate followers to act on their recommendations. Anyone from a blogger to a celebrity can be an Instagram influencer. They generate a great influx of social engagement with their credibility and get financial rewards. Instagram is heavily crowded and competitive. It is where Instagram influencers come into the picture. All of them certainly earn, but an influencer with 500k followers can grab a lot.
An Influencer with 500k followers: Overview of Instagram influencers
The Instagram world is vast and one can do influencer marketing on this platform. It has grown so fast and vast that Instagram attracted a large number of influencers. Many bloggers have taken up influencer marketing as a profession. Influencers work in different niches including beauty, clothing, food, lifestyle, travel, etc. They generally belong to the following four categories.
- Nano-influencers with 1K to 10K followers
- Micro-influencers with 10K to 100K followers
- Mid-influencers with 100K to 500K followers
- Macro-influencerswith 500K to 1M followers
- Mega-influencers or celebrities. They enjoy over 1 M follower
How do Instagram influencers make money?
The overwhelming popularity of Instagram has created an entirely new category of professional; the Instagram influencer. They earn money by influencing others to buy. Most influencers generally use sponsored content to make money on Instagram. They typically use social media posts when brands or marketers take their service for promoting products or services. The sponsored posts could be for a single product or service or can cover several products or services together. When someone buys items featured in the content the influencer earns a commission. Besides posting sponsored content, an influencer can be the brand ambassador; do affiliate marketing, and do many more things.
Price per Instagram Post
Influencers fix their rate for working with brands. It is relatively difficult to ascertain because of varying rates and the privacy maintained. However, a thumb rule is gaining acceptance. It says that an Instagram influencer with 1,000 followers takes $10 for each post.
Factors affecting monetization on Instagram
It needs hard work to be an Influencer with 500k followers. Besides the number of followers, several other factors are there that influence monetization of the social media platform. They include the type of activities, advertising, and engagement rate. Influencers earn a major part of their income from advertising. It is the fundamental option for influencer marketing. For this one must consider posting on the main feed for advertising on stories. Moreover, influencers with a high engagement rate earn more. It is because popularity pays. If a post is seen by a large number of audiences, it is likely to have more conversions and brands are also likely to pay more.
How much Instagram influencers can make
Influence marketing on Instagram opens up earning opportunities. However, it is sure that none can be an Instagram influencer with 500k followers overnight. How much the influencers earn is tricky to know for certain. They maintain strict privacy about the money they make. It is also difficult to calculate the income on Instagram. How much money one makes on Instagram depends on offline credentials, number of followers, engagement rate, etc.
Influencer’s payment is not constant. An influencer with 500k followers is likely to earn $3,000 or more per image or post. Let us check what one can get before reaching the magic number of followers.
- When an account has less than 10,000 followers: A majority of such followers acquire followers by posting some cool stuff. They typically try to grow their Instagram account around a specific niche. Surveys indicate that they can earn $88.00 per post on average. They always endeavor to get a large and long-time presence for charging more. They can also get the Instagram account handle for collaborations in the future.
- When an account has less than 100,000 followers: When an Instagram account stays in this stage, brands sent direct messages for product encashment against freebies. Money also starts to pour in occasionally. But a majority of influencers are reluctant to charge as they are afraid of disruption of their success. The implicit rule is that influencers can expect to be paid $10.00 for every 1,000 followers when they hit the 100,000 threshold. If one begins to charge before bagging 100,000 followers, the influencer is likely to get less. An influencer having 50,000 to 80,000 followers can expect to get around $200.00 per post. But it changes with advertisers. However, accounts opt to accept deals to boost their followers count.
- When an account has less than 1000,000 followers: It needs a giant leap to bag one million followers from one hundred thousand followers. An Instagram influencer with 500k followers falls in this category. When an influencer reaches the mark of 500K followers, they can have expected earnings of more than $600.00 per post. Such accounts enjoy many features that are not available to lower-tier accounts. They have a verified account with a blue check mark and the Instagram “swipe up” option. As such, they can handle massive influencer ad campaigns for brands and companies.
- When an account has more than 1000,000 followers: These are mostly celebrity accounts. Only the sky is the limit of what they can charge. They earn a fabulous amount from influencer marketing.
Highest paid Instagram Influencers
Being the most popular social media platform, Instagram can connect one with a large audience. Here is a list of the top 7 Instagram influencers.
- Cristiano Ronaldo
- Kylie Jenner
- Leo Messi
- Selena Gomez
- Dwayne Johnson
- Kim Kardashian
- Ariana Grande
It is not possible to be an Instagram influencer with 500k followers overnight. It needs consistent effort and regular updating to earn a significant income. Off-line credibility also counts in getting more followers.
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