How to Use Instagram Subscriptions to Earn More Money as an Influencer
As the world of influencer marketing becomes more competitive, many social media platforms are looking for new ways to incentivize and retain their most popular creators. Data also suggests that there are around 37 million global influencers on Instagram, making it one of the most popular platforms on the market. Thus, the app is constantly making new changes to further support its wide variety of talent. As such, Netinfluencer has all the details on Instagram Subscriptions and how they can help creators earn more money.
What Are Instagram Subscriptions?
Instagram Subscriptions were first released in August 2022 as a way to help influencers earn a more regular income on the platform. The feature relies on a standard paid subscription model, meaning that audience members pay a set fee every month to access exclusive content.
This feature offers a regular source of income to a wealth of influencers, which can change depending on the tiers they set. Creators can begin with the lowest tier, costing $0.99, and advance up to the highest, which is worth $9.99 per month.
It should be noted that creators can only activate one tier at a time and cannot expand out of these set prices. Instagram Subscriptions are not necessarily a new feature as they follow in the footsteps of other social media platforms such as YouTube Memberships and Twitch Subscriptions.
Why Were They Launched?
Many believe that Instagram Subscriptions were launched to support the growing number of micro-influencers seen on the platform. As such, these monetization options can help smaller influencers to gain a steady income, especially if they struggle to earn paid brand deals.
This feature is also an excellent way for influencers to connect with their most loyal fans, particularly on one of the most popular platforms available. Therefore, this service can offer a deeper connection between creator and audience and also allows influencers to produce exclusive content that adheres to this audience’s needs.
Finally, experts speculate that this feature was introduced to help Instagram become more competitive against a wealth of other platforms. With the likes of Snapchat + and TikTok LIVE Subscription, creators can now earn revenue from a variety of other sources. Therefore, it was only a matter of time before Instagram offered the same.
How Can Creators Earn Money Through the Platform?
Alongside the use of Instagram Subscriptions, the platform also encourages influencers to partner with acclaimed brands. Instagram makes use of a wealth of tools such as Partnership Messaging, Projects, and Creator Marketplace to ensure that users can stay on top of their brand deals and seek out new ones in the process.
Instagram also hosts a unique live streaming hub, where creators can interact with their audience in real time. The feature also includes Badges, which are exclusive symbols that audiences can purchase in order to show support for their favorite creators. These Badges range from $0.99 to $4.99 and increase incremental stages.
Instagram Shopping has been one of its most popular features as it allows audiences to purchase products directly from the Instagram app. Creators can also promote their own merchandise by tagging it in their posts. This enables them to extend their reach and keeps their audience aware of their latest product releases.
In order to reward creators for their viral content, Instagram launched Bonuses. These are monetary rewards that creators can earn from their most popular work such as Reels. The platform also offers revenue on some of a creator’s earliest views, meaning that they can monetize any type of content.
What Perks Are Given to Instagram Subscribers?
As soon as an audience member subscribes to your content, they will receive a unique purpose badge next to their username. This indicates that they are a paying subscriber and gives the impression that they are part of an exclusive group. This perk also helps these individuals stand out to influencers in DMs and other chat functions.
Lives and Stories
Influencers can also produce exclusive Lives and Stories just for their paying subscribers. Here, influencers can discuss their latest updates as well as connect with their most loyal audience on a more intimate level.
Instagram also allows influencers to create a stand-alone chat for their most devoted followers. Subscriber Chats is essentially a group chat that up to 30 subscribers can join at once. These individuals can interact with each other as well as their chosen influencers. Creators can also promote this chat on their exclusive stories, attracting more subscribers as a result.
Posts and Reels
Similar to exclusive Lives and Stories, influencers can also share unique Posts and Reels for their subscribers. This again creates a feeling of rarity and individuality for your paying members.
Subscriber Home is a comprehensive platform that gives subscribers access to all of your content from the moment they join. As such, subscribers can view all of your exclusive content in one place and will never miss an update.
What Are the Eligibility Requirements?
In order to utilize Instagram Subscriptions, influencers must be over the age of 18 and based in the US. This feature is also only available to those with over 10,000 followers and those who have not violated any of Instagram’s Community Guidelines.
Benefits of Using Instagram Subscriptions as a Content Creator
Instagram Subscriptions are undoubtedly a useful way for creators to earn more money on the platform but they can also help foster a more communal relationship between influencers and their audiences. With perks such as Subscriber Chats and Subscriber Home, audiences can interact with their favorite content creator on a regular basis. This is also a benefit for influencers as it means that they can gain new ideas and inspiration from their most engaged viewers.
Instagram also offers a wealth of creative tools, meaning that influencers can produce a variety of unique content on one platform. As such, influencers now have the ability to monetize this wide selection of content all under a fixed subscription fee. Thus, influencers can gain a more regular and secure income whilst they still create work that they are passionate about.
The collection of pricing options also makes this tool suitable for any type of budget. These affordable options can encourage audience members to join on a regular basis, again, extending this idea of a regular income. Furthermore, Instagram Subscriptions only allow influencers to promote one tier at a time, offering the same amount of benefits for any subscriber. This helps to create a feeling of equality and ensures that influencers can maintain an amicable relationship with their audience.
Instagram Subscriptions are the platform’s latest monetization initiative, showcasing the plethora of revenue streams available to influencers. This tool also indicates that influencers will no longer work for free and must be incentivized for their incredible work.