As a small business owner, you’re always looking for new ways to make money. And in 2024, Instagram Reels presents a major opportunity.
Why Instagram Reels is the Future of Content
Instagram usage continues to skyrocket, with over 2 billion monthly active users. And Reels is its fastest growing format, with 140 billion views per month globally.
Tapping into this massive, engaged audience with short, fun videos can really pay off for your business. Especially as Instagram further integrates Reels into its algorithm and shopping features.
But how exactly do you monetize Reels as an entrepreneur or creator? I’ll break down the top 4 proven strategies.
1. Affiliate Marketing
Affiliate marketing works seamlessly with Reels.
The idea is simple: Promote relevant products in your Reels and earn a commission when followers purchase through your special link.
When starting out, I recommend using affiliate networks like RewardStyle or ShareASale to find brands paying nice commissions.
Focus on showcasing products you genuinely enjoy. Build trust and your followers will buy through your links again and again.
Here are 5 quick tips for affiliate marketing success with Reels:
- Feature products naturally in fun Reels
- Link to products in bio or directly in Reels with linking stickers
- Clearly disclose affiliate relationships
- Give honest reviews and recommendations
- Analyze data to optimize
With big Reels reach, commissions can add up fast. So get creative with affiliates!
2. Brand Partnerships
Once you build an audience creating quality Reels, brands will come calling about sponsorship opportunities.
I recommend starting to reach out yourself once you hit 1,000+ engaged followers.
When pitching brands:
- Tailor emails and explain why their product fits your content
- Share recent metrics like views, likes and comments
- Start with smaller asks, like gifting product to feature
- Negotiate paid contracts once you’ve built the relationship
Sponsored Reels net anywhere from $100-$750+ per post, based on follower count, engagement levels and brand budget.
Deliver great results for brands with aligned partnerships and lucrative deals will follow!
3. Sell Your Own Offerings
Already have your own product or service to promote? Reels provide the perfect channel.
Get creative showcasing what you sell in fun, engaging Reels. Then clearly direct viewers to purchase.
Some examples:
- An illustrator speed-drawing custom pet art and linking to Etsy shop in bio
- A designer showcasing logo projects and promoting design services in on-video text
- A bakery owner filming cake decorating process along with coupon code for orders
The possibilities are endless. Use Reels to drive real sales!
4. Instagram Reels Bonus Program
For creators who consistently make viral, high-quality Reels, Instagram offers its invite-only Reels Play Bonus program.
This awards cash bonuses based on Reels views during designated time periods. One creator reported earning $100k+ in a month through the program!
To qualify, you need:
- 5,000+ authentic followers
- Popular Reels driving significant engagement
- Completely original and entertaining concepts
If accepted, eligible views can earn a few cents per play. It adds up quickly with millions of eyes on your Reels!
Let‘s Get Your Reels Earning Money
I hope this guide provided a 360-degree look into the major ways creators and businesses can monetize Instagram Reels in 2024.
The key is consistently providing value for your audience with fun Reels. Do that genuinely and the money will come.
I’m always happy to offer 1-on-1 consulting to implement any of these money-making strategies for your biz. Feel free to get in touch!
Now get out there, start creating viral Reels, and watch your income grow. You’ve got this!
){kind=link}