Are you one of those looking for ways to make money from your phone leveraging social media? If you are, then welcome to the world of Instagram monetization!
Today, we’ll unravel the mystery of how to make money on Instagram in Nigeria.
From students seeking an additional income stream to entrepreneurs looking for new ways to promote their businesses, Instagram offers endless possibilities. But how can you tap into these opportunities?
This comprehensive guide is dedicated to showing you “how to earn money on Instagram in Nigeria” without any major investment.
Ready? Let’s dive in!
Making Money on Instagram
Instagram isn’t just a social media platform where you share pictures or follow your favourite celebrities.
It’s a powerful marketing tool with over 1 billion active users worldwide, including a large share from Nigeria.
The platform holds incredible potential for those who want to “make money on Instagram daily in Nigeria”, if they can understand and harness its powers effectively.
15 Ways to Make Money on Instagram in Nigeria
In 2023, the best ways to make money on Instagram in Nigeria include:
1. Influencer Marketing
First on our list is Influencer Marketing, the most popular Instagram money making method. As an influencer, you can promote brands and products on your account and get paid for it.
A study by Influencermarketinghub showed that influencer marketing is set to become a $21.1 billion industry by 2023. This strategy is perfect if you’re wondering how to make money on Instagram as a student in Nigeria.
All you need is a strong online presence and engagement rate, and you’re set to start making serious money.
One important tip on how to get paid on Instagram through influencer marketing is to ensure your online persona aligns with the brand’s image and audience.
2. Affiliate Marketing
Affiliate marketing is a popular business to make money from Instagram in Nigeria. Here, you earn a commission for every product sold through your unique affiliate link.
Websites such as Amazon, Jumia, and Konga offer affiliate programs that you can join and start promoting their products on your Instagram page. Post captivating images of the products and include your affiliate link in your bio or as a swipe-up link in your stories.
3. Selling Products
Whether it’s handmade crafts, fashion items, or digital products, Instagram is a great place to sell.
You can create an Instagram shop, where followers can buy your products directly from your Instagram posts and stories. This way, you can make money on Instagram daily in Nigeria.
All you need to do is to consistently upload high-quality photos of your products and use relevant hashtags to reach potential customers.
4. Selling Services
If you’re a photographer, graphic designer, or consultant, Instagram can serve as a platform to showcase your portfolio and attract potential clients. With the right strategies, you can use Instagram to make money online in Nigeria.
To start, post samples of your work and testimonials from previous clients. This will show potential clients that you’re skilled and reliable.
5. Sponsored Posts
Brands are always on the lookout for influencers with an engaged audience to sponsor posts. This involves posting content that promotes a brand or its products.
The pay depends on your follower count, engagement rate, and the type of content. To attract brands, maintain a consistent theme and engagement rate on your page.
6. IGTV Ads
Creating IGTV videos and enabling ads is another way to earn money. When you create engaging video content, you can earn a share of the revenue from the ads placed on your videos.
Keep in mind that this strategy requires creative video content that resonates with your audience.
Read Also: How to Make 20K Daily in Nigeria
7. Instagram Shopping
Instagram Shopping allows your followers to buy your products directly from your Instagram posts and stories.
Setting up an Instagram shop requires a business account and product catalog, which can be created on Facebook.
This feature makes it easier for followers to buy your products, which can increase your sales and income.
8. Brand Partnerships
Brand partnerships are a great way to earn money on Instagram. You can partner with a brand to create a product line or co-host an event.
This strategy requires a good amount of followers and high engagement rates. Examples of Nigerian Instagram influencers doing this include the likes of Davido, Toke Makinwa, and OlaofLagos among others.
9. Selling Digital Products
Another way of making money on Instagram in Nigeria is by selling digital products like e-books, online courses, or downloadable guides through your profile.
These are easy to distribute and have higher profit margins because there are no manufacturing costs involved. To attract buyers, offer value and make your products relevant to your audience.
10. Social Media Manager
With a solid understanding of Instagram algorithms and strategies, you can offer your services as a social media manager to businesses and brands.
This involves managing the brand’s Instagram profile, creating content, and increasing their online presence. You can start by offering your services to small businesses and gradually expand to larger ones.
You can get interested clients by messaging brands directly via Instagram, or join Freelance sites and offer that service as a gig.
11. Online Coaching
If you’re an expert in a particular field, offering coaching or consulting services on Instagram can be profitable. This could be fitness coaching, business coaching, or Instagram marketing coaching.
Start by offering free value to attract potential clients and then pitch your coaching services.
12. Promoting Events
You can earn money by promoting both online and offline events. This could be concerts, webinars, or workshops.
As an event promoter, you earn a commission for every ticket sold through your referral link.
Check Out: How to Earn 1000 Naira in a Day
13. Instagram Courses
You can create and sell courses about Instagram growth and marketing, or any other topic you’re knowledgeable about. This is a great way to share your expertise and make money.
Another solution to how to make money on Instagram in Nigeria via Ecommerce is Dropshipping.
This is a retail model where the seller doesn’t hold the inventory. When a customer orders a product from your Instagram shop, your supplier ships the product directly to the customer.
This way, you don’t handle any inventory or shipping logistics, making it a low-investment way to make money on Instagram in Nigeria.
15. Instagram Ads
Last but not least, with a solid understanding of Instagram’s ad platform, you can offer to run Instagram ads for businesses and make money.
This involves creating and managing ad campaigns to help businesses reach their target audience, increase brand awareness, and drive sales.
This strategy can be lucrative as businesses are always looking for effective ways to reach their target customers on Instagram.
Basic Requirements for Making Money on Instagram
Now that you know how to make money from Instagram in Nigeria, let’s look at some prerequisites. Building a strong and loyal following is crucial.
However, don’t be discouraged if you’re wondering “how to make money on Instagram without followers”.
While a large follower count can certainly boost your earning potential, there are strategies you can employ to earn money with a smaller audience.
Engaging content is key to attracting and retaining followers. Remember, Instagram is a visual platform, so focus on creating high-quality images and videos.
Understanding your audience, their interests, and their behaviours will help you tailor your content and maximize engagement.
Knowing that, I believe your Instagram account is ready. So, let’s take a look at how to make money on Instagram in Nigeria.
Tips for Effective Instagram Marketing
To make money on Instagram in Nigeria, you need to understand how to market effectively on the platform. Here are a few tips:
- Consistently post engaging content.
- Build and maintain a unique personal or business brand.
- Engage with your followers regularly.
- Use the right hashtags.
- Collaborate with other influencers.
Challenges and Pitfalls to Avoid While Trying to Make Money on IG
While there are numerous ways on how to make money on Instagram in Nigeria, it’s important to be aware of potential challenges, like fluctuating engagement rates, competition, and changes in Instagram’s algorithms.
Remember that building a successful business on Instagram is not an overnight success. It requires patience, consistency, and a clear strategy. Stay true to your brand, and always engage authentically with your audience.
Make Money from Instagram – FAQs
How many followers do you need to make money on Instagram?
There’s no specific number. Some influencers can start making money with just a few hundred engaged followers, while others might need thousands. It’s more about the quality of your followers and how engaged they are.
Can you make money on Instagram?
Yes, you can! There are numerous ways to make money on Instagram, from sponsored posts and affiliate marketing to selling your products or services.
How do people make money on Instagram?
People make money on Instagram through various methods such as sponsored posts, affiliate marketing, selling products or services, IGTV ads, and more.
How to make money on Instagram by posting videos?
You can make money by posting sponsored videos, affiliate marketing videos, or through ad revenue on IGTV videos.
How much does Instagram pay for 1k followers?
Instagram itself does not pay users based on the number of followers they have. However, businesses and brands who sponsor posts typically base their payment on the number of followers and engagement rate. It can range from $10 to $100 per 1k followers depending on these factors.
There you have it! A comprehensive guide on how to make money on Instagram in Nigeria. Instagram is a versatile platform offering numerous opportunities for those willing to put in the effort and time.
Whether you’re a student looking to earn some extra income, a professional seeking to leverage your skills, or an entrepreneur hoping to expand your business, Instagram offers a myriad of possibilities.
Start implementing these strategies today and you could soon be earning money on Instagram daily in Nigeria!