NUMBER ONE
The
question I'm asked is "How do you make money on Instagram??"
here's the breakdown...
There are three major ways I make money: brand partnerships, affiliate linking, and content creation. There are dozens of other ways bloggers earn off of social media, however, I can only speak on behalf of these three.
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1. Brand Parternships
For me, brand partnerships/sponsorships are the most enjoyable way to earn money from blogging. I can’t stress enough how critical it is to partner ONLY with brands you genuinely believe in. The Internet is often thought of as an emotionless tool; however, social media is anything but. Followers can sense when a blogger is pushing a product or service she doesn’t genuinely believe in. Both the way a caption is written and the way stories are conveyed are an emotional experience between the blogger and their followers. Yes, this sounds dramatic, but it’s the truth. Think about it…as you’re scrolling through your feed, do you ever read a phony caption from a beauty blogger promoting a Dyson drill and go purchase the drill? No. But you DO purchase that vintage pair of Levi’s your favorite fashion blogger swears by. This isn’t just relativity at play…it’s the emotion you feel from watching the influencers you genuinely connect with.
Back to the point….brand partnerships. Basically, a company provides you with their product or service along with your going rate in exchange for social promotion. The details of the partnership (# of static posts, # of stories with swipe-ups, etc.) will be determined on a brand-by-brand basis. For example, I’ve worked with one designer on an ongoing basis who doesn’t quantify the content I post. Rather, she knows I love her designs and will post wearing them when I genuinely want to (of course, I don’t take advantage of this and work EXTRA hard to maintain this relationship). On the other hand, most brands want a written contract stating exactly what you’ll provide, when, and for how much.
The recent increase in social media and its ability to drive traffic has sparked an influx of platforms that act as the middleman between influencers and brands. There are a few different types of formatted sites...I’ll go into further detail on each one later on. For now, know that these websites are SUPER beneficial in landing larger brand collaborations but take a percentage of your earnings and typically remove your ability to talk directly with the brand, meaning there is no room for future partnership.
2. Affiliate Linking
Affiliate linking can be done a few different ways, but however you go about it, it is by far my least favorite way to make money on social media. An affiliate link is when you have a unique web-address which tracks when a consumer makes a purchase after utilizing your link. The issue with this is most people do not make immediate purchases when browsing through social media. Additionally, it is common for websites to clear their caches every five minutes. So, if one of my followers swipes up on my story and browses the brand’s website for ten minutes before making a purchase, the cache has been cleared and my link no longer receives “credit” for that sale. Another downfall is you don’t receive payment until after the brand’s return window closes…and of course, you don’t receive credit for the sale of any items that are returned.
Brands can also directly provide influencers with their own link (there are lots of brands who have their own ambassador programs and software). Rewards Style is a service used by hundreds of modern online brands and acts as one large database for affiliate links. Once you’re accepted into Rewards Style, you can link any participating brands products and earn commission on sales you drive through your links.
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3. Content Creation
For small businesses it is extremely costly and time consuming to book photo-shoots, so, most like to outsource and hire freelancers or influencers to generate content for their websites/social profiles. Some brands look solely for content and do not require social promotion at all. Typically, content creation is charged per the photo, however, I like to offer clients with 2/3 image options per “theme” and charge by the theme. For example, if I’m shooting one particular dress, I’ll get three solid shots in the same outfit and with the same background for the brand to pick from. Each new outfit or new background counts as a different theme.
Media kits
When you're pitching a brand, a media kit is a necessity. So, what goes into one?
To start, you want your basics: name, “about me” blurb, summary of the type of blog you have (lifestyle, travel, fashion, beauty, etc.) and a focal image that best describes your style (ex: I use a portrait shot of myself, but if your content focuses on cats and not your face, you obviously want to rethink what your focal image should be).
As far as statistics go, you’ll of course start with your current follower count and, if your growth is impressive, you can add your growth rate.
You’ll want to show both your total static impressions per month as well as story impressions, and a breakdown of your demographic (age, gender, interests…whatever is of use to the type of brands you reach out to).
If you utilize other social platforms, such as Pinterest or Facebook, you should include those metrics, too.
Next you’ll need to pitch exactly what you’re offering and for how much. If you’re at the beginning stages of your blogging career and aren’t currently charging for content, you can simply use the term “for trade” to describe what you’re looking for. For example, you can say “I work on a for-trade basis” which simply means you’re willing to trade your content creation and social promotion for the service or product a company offers.
Last but not least, you should always include a list of past collaborations (the most impressive, most recognizable brands you’ve worked with).
I like to add a few additional pieces of content into my kit to show brands the sort of vibe I go for. Remember, you’re one of HUNDREDS of bloggers sending them a media kit, so you need to pitch yourself in a PDF file as best as you can.
here's my kit:
What to Charge
The general rule of thumb is $100 per every 10k followers.
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EX: An influencer with 50k followers can charge $500 for an in-feed post while an influencer with 90k followers can charge $900 for an in-feed post.
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This being said, some brands are only working on a for-trade basis. So, if you REALLY want to work with a particular brand, be ready to negotiate.
Influencer platforms
As mentioned above, there are tons of online platforms that connect brands and influencers together, however, I’ve found success with just a few.
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When I first started working with brands, Social Native was my go-to. I connected with big-name brands (Fila, Aveda, Tula, The Vitamin Shoppe, etc.) whom I otherwise never would have made contact with. This being said…Social Native’s payout is terrible. They offer less than one tenth (yes, less than 10%!) of the going rate. So, I’d only suggest Social Native to bloggers looking to get their feet wet and earn a little extra money.
The setup doesn’t allow for any negotiation nor discussion with the brand directly. Once accepted onto the platform you’ll receive notification every time you’re eligible to apply for a new campaign. You can either choose to apply or deny the opportunity. Once you apply, you must go through a selection process. Do not get discouraged! It took me quite a few attempts before ever being accepted. I’ve found that the more you accept and complete, the more opportunities come your way. HOWEVER, don’t forget to only accept brands that align with your brand.
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Social Native personalized analytics page
Once you’re accepted into a campaign, you’ll either be shipped the product or are required to purchase it on your own (changes on a campaign by campaign basis). You’ll be given a deadline to submit both your content and your caption, which must be approved by the brand before your post can go live. Be sure to read through the guidelines before you create your content – they are STRICT – and don’t worry if the brand requires you to reshoot or edit your caption, it isn’t a big deal and doesn’t hurt your chances at future campaigns as long as you make the changes before the deadline. Once the brand approves your content, you publish on the designated date, wait about 2 weeks, and receive your payment via PayPal. Easy!
Unlike Social Native, Aspire IQ has a marketplace of campaigns in which you can apply to. There are brands offering both monetary and product-driven rewards. Once you apply to a campaign, the brand reaches out directly via Aspire IQ’s chat-room. Like Social Native, you’ll need to submit your content for review before it goes live and the payout comes directly from the platform and not from the brand. While I’ve had more traction from Social Native, Aspire IQ gives you a bit more room for creativity and direct brand-engagement. You also set your own rates and aren’t locked into a predetermined campaign payout.
Aspire IQ campaign marketplace
Activate dashboard
While Instagram seems to be the ideal promotional platform targeted on Activate, it definitely helps to have a blog of your own. Nearly all of the available campaigns request both social promotion and a blog post. Much like Aspire IQ, Activate has a marketplace of campaigns you can apply to. There is also a message board in which you can pitch your concepts to an Activate representative, who acts as the mediator between you and the brand. Again, you don’t have direct access to the brand here; however, there is room for both creativity and price negotiation. So far, Activate is my top earner. The rates offered are typically right on par with the going rates. For example, where Social Native offers $50 for a post, Activate will offer $500-$600.
There are plenty of other platforms out there…Grapevine, The Cirqle (I’ve heard good things about this platform for 100k+ influencers, but haven’t personally landed any campaigns), #Paid, etc. so play around and find which ones work for you. I also highly suggest reaching out to local PR companies and landing on their radar. While the majority of them are bound to ignore you, or send a polite “no thank you” email, every so often you’ll find someone who meshes with your vibe and adds you to their influencer list (meaning they send you free shit and will reach out with potential brand collaborations).