Monetising social media is fast becoming one of the most popular side hustles of the 21st century.
Whether you consider yourself a full-time influencer, a micro influencer with a good reputation in a specific industry, or simply a growing account focussed on delivering quality content, there is money to be made – particularly on Instagram.
Reels are a relatively new form of content, which allow users to create their own short form videos with a blend of edited and cut-together video clips, images, audio clips, and text boxes. Launched by Instagram in 2020, reels are super shareable and engaging, and tap into trending concepts, templates, and audio clips which may be going viral on Instagram at that moment.
So, how do you monetise them and get paid for the reels that you make and share on Instagram?
How to Get Paid for Reels That You Share on Instagram
There are several ways to get paid for reels that you create and share on Instagram.
- Form partnerships with brands and create reels that market those brands to your followers. Most brands will pay influencers who create reels which promote their product or services – selecting the best influencers for these partnerships based on their target demographic.
- Become an affiliate marketer. This essentially means that you earn a commission for any product which is sold to users who click directly from your reel onto a product page and complete a purchase.
- Manage a creator account and build a subscription package. One of the most interesting tools now available via Creator profiles is the ability to build a subscription package, whereby users can pay to view extra content that you share exclusively to your subscribers. Via this tool, creators can charge their subscribers a monthly fee, giving them access to extra reels as well as other content streams.
- Accept virtual gifts. This is another option which is solely available to those with Creator profiles, whereby users can gift “stars” to their favourite creators. As you build a bank of stars, these can be exchanged for currency – with each star worth 1p.
Most of these options rely on a substantial following to be successful. Having said that, if you wish to monetise your reels via options 1 or 2, you may find that having a smaller but more targeted bank of followers serves you well; particularly if the brands you partner with boast a niche audience.
As such, if you want to get paid for reels, you need to focus not just on the quantity of followers you have but, on their quality, as well. If you have a large audience but none of them are engaged or interested in the brands you partner with and the products you plug, your chance of making money from reels will dwindle.
Can a Business Page Make Money Directly from Instagram Reels?
It’s not just content creators and influencers who are using Instagram reels to increase engagement and make a little money on the side.
Businesses are increasingly using Instagram reels to share content which really resonates with their audience. Some of the ways that businesses can use reels effectively include:
- Jumping onto viral trends and adding personality to their brand page
- Showcasing new products or services with a short how-to video reel
- Introducing the people behind the brand
- … and so much more!
To make money from your Instagram reels as a business, the best thing you can do is to add a ‘Call to Action’ button to your reel, which drives engaged users towards your product or service page. Via this action, users who like your reel are carried to the next stage of the customer funnel.
Alternatively, you can play the long game by encouraging them to follow your page, in the hopes of converting them into paying customers over time.
Are Reels the Best Way to Make Money on Instagram?
Whether you manage a business, creator, or personal page, reels offer a way to develop and share super-engaging short-form content, packed with opportunities to inspire action from other users, and to make money.
Paired with other forms of content, which include classic posts and sponsored / collaboration posts, reels can form part of a successful monetisation strategy on Instagram.
And finally, if we could share just one piece of advice with budding influencers who want to start monetising their profile, it would be to switch to a Creator account and unlock the various tools and extra features available to those with this type of account. Being able to charge a subscription is one of the easiest ways to make money simply by creating more of the content you love – not to mention you get access to tons of insight to help make your future posts and strategies even more successful.