15 Best Business Ideas for Instagram Influencers in 2024

Instagram influencers have mastered the art of engaging their audience with captivating content, but what if you could turn those double-taps into dollars? Yes, you can. If you have large followers on Instagram, and you aren’t making money from your account, then you are missing a lot of cash.

Instagram is a popular social media platform. It is one of the world’s leading platforms in terms of number of users and traffic to its website. So what are best business ideas for Instagram influencers? Walk with me!

According to HypeAuditor, influencers make around $2,970 per month from their Instagram accounts, which adds up to an annual income of nearly $36,000.

Who Is An Instagram Influencer?

An Instagram influencer is someone with a large following on Instagram who can affect what their followers buy and think. They usually post about a specific niche like fashion, fitness, travel, or lifestyle and often work with brands to advertise products to their audience.

Top Instagram Influencers include football superstar Cristiano Ronaldo, WWE wrestler Dwayne ‘The Rock’ Johnson, singer Ariana Grande, Kylie Jenner, multiple Grammy award winner, Selena Gomez and many more.

The Different Types of Influencers

Instagram Influencers are categorized into five, based on their number of followers:

  • Nano Influencers: Influencers with 0K – 10K followers 
  • Micro Influencers: Influencers with 10K-100K followers
  • Mid Influencers: Influencers with 100K – 500K followers
  • Macro Influencers: Influencers with 500K – 1M followers
  • Mega Macro Influencers: Influencers with 1M+ followers

15 Best Business Ideas for Instagram Influencers

There are millions of Instagram users checking their feeds every day. If you are an influencer, why don’t you take advantage of this number and make money while having fun on Instagram? Here are 15 best business ideas for Instagram influencers:

1. Start a Branded Merchandise Business 

One of the most straightforward ways for an Instagram influencer to monetize their presence is by creating and selling branded merchandise, such as clothing, accessories, home decor, or any other items that resonate with your audience.

When you put your logo, catchy phrases, or special designs on these products, you’re not only giving your followers a way to support you, but also a physical way to show they’re a fan of your brand.

The popularity of merchandise as a business model for influencers is evident by the numerous merchandise lines launched by celebrities and social media influencers. For example, YouTuber David Dobrik’s “Clickbait” merchandise or beauty influencer Jeffree Star’s cosmetics line both generated substantial revenue while strengthening their brands.

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2. Affiliate Marketing

Affiliate marketing involves promoting products or services through unique affiliate links. When your followers use these links to make a purchase, you earn a commission. The good thing about affiliate marketing is that you can work with many brands and recommend products you truly like and believe in to your followers.

As an Instagram influencer, you can integrate affiliate links into your posts or stories to promote products or services that align with your niche and audience’s interests. You can even write online reviews of the products you are promoting to your followers so it can help them make sound decisions.

Popular affiliate programs like Amazon Associates or ClickBank offer a diverse range of products to promote, making it accessible to influencers in almost any niche.

3. Online Coaching and Courses

If you are experienced in a field, maybe you should create an online course about the field and sell it to your Instagram followers. Whether it’s fitness, fashion, photography, cooking, or any other skill or subject you excel in, there’s an audience eager to learn from you.

It is profitable to create and sell digital courses. Promoting these courses is now easier, thanks to platforms like Teachable, Thinkific, and Udemy. Providing value and teaching your followers valuable skills means you will not only make lots of money, your followers will see you are an expert in your niche.

4. Sponsored Posts

Did you know that sponsored posts are an integral part of an Instagram influencer’s revenue stream? 40% of Instagram influencers make their money through sponsored posts. Top brands don’t mind paying influencers to create content that promotes their products or services.

Success in sponsored posts comes from collaborating with brands that align with your personal brand and your audience’s interests.

To get sponsored posts deals from brands, you should have a dedicated media kit that highlights your reach, engagement, and demographics. Brands usually approach influencers with a shared target audience. It’s crucial to maintain a consistent and attractive feed.

Transparency is key. Your audience should always know when you’re promoting sponsored content.

5. Dropshipping

Dropshipping is a business model that allows you to run an e-commerce store without holding inventory. Instead, you partner with suppliers who fulfill customer orders on your behalf. As an Instagram influencer, you can leverage your following to drive traffic to your online store.

Your Instagram account can serve as the primary marketing channel for your dropshipping business. Promote products that align with your niche and create compelling content that drives engagement and conversions. Platforms like Shopify and WooCommerce make it relatively easy to set up your dropshipping store.

6. Consulting Services

If you are experienced in a niche, you should make the most of your experience and provide consulting services. Consulting services can be a profitable business idea for you as an Instagram influencer if you have a strong track record in your field.

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For example, a fashion influencer can offer styling consultations, while a digital marketing influencer can offer consulting services to help businesses enhance their online presence.

Your Instagram account can serve as a portfolio, showcasing your knowledge and experience. Additionally, you can use Instagram Live or Stories to host Q&A sessions or workshops to interact directly with your audience and showcase your expertise.

Best Business Ideas for Instagram Influencers
Best Business Ideas for Instagram Influencers

7. Product Reviews and Unboxing

Product reviews and unboxing videos have gained immense popularity on social media platforms, especially Instagram. Influencers can make a substantial income when they share their opinions with different products.

You can review the latest gadgets, beauty products, fashion items and many more. Your honest reviews can greatly influence your followers’ purchase decisions.

To get started with product reviews and unboxing, you can reach out to brands or businesses to send you products for review. Alternatively, you can purchase products yourself and review them, gradually attracting brands for partnerships as your influence grows.

8. E-books and E-guides

If you are a good writer and talker, or you have great content to share online, it will be profitable to write and sell digital books (e-books). These digital publications can be related to your niche or any subject you’re passionate about.

A good advantage of writing an e-book is that it allows you to go deeper into the topic that you are known for on Instagram niche and provide your loyal followers with more in-depth content.

E-books and e-guides can be sold on platforms like Amazon Kindle, Apple Books, or even directly from your website. Promote your publications on your Instagram account, and consider hosting virtual book launches or reading sessions to engage your audience.

9. Social Media Management

There are individuals and businesses that are looking for ways to increase their online presence on Instagram. If you can build an engaging Instagram account, I think you should consider offering social media management to them and make cool cash.

Lots of companies know the importance of having a strong presence on Instagram. However, they lack the expertise to achieve it.

Your Instagram account is like a portfolio where you showcase your content curation skills and grow your brand’s online presence. As an Instagram influencer, starting a social media management services can become a great business for you.

10. Start a Lifestyle blog

There are different types of lifestyle blogging. You must first pick a niche that you want to blog about. For instance, you could start a travel blog, capture street style through photography, or share snippets from your personal life.

Once your blog is set up online, concentrate on using your Instagram account as a medium to capture the interest of your audience. Thinking about monetization? That’s not a problem. You can monetize through affiliate marketing, selling your products, sponsored posts from big brands, and selling advertising spots from advertisers.

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11. Photography Services

People love taking pictures for memories. If you are skilled at taking beautiful pictures, I will advise that you offer photography services to your Instagram followers.

Showcase your photography work on your Instagram account so that your followers can see your amazing works. A photography business can be a natural extension of your influencer career.

People searching for photography services often look for portfolios online. Hence, cluster your Instagram feed with pictures of your works. You can also collaborate with brands for product or lifestyle photography. In return, it will strengthen your influence in your niche and also serve as a means of income.

12. Podcasting

Podcasting is booming. Instagram influencer can join the trend start their own podcast. Through podcasting, Instagram influencers can connect with your audience through audio content, interviews, and more.

Monetization options for podcasts include sponsorships, advertising, merchandise, and exclusive content for subscribers. Use your Instagram account to promote your podcast, share teaser clips, and engage with your audience around the content you’re creating.

13. Print-on-Demand Products

Print-on-demand (POD) services enable you to make and sell custom-designed products without having to keep inventory. You can customize items like clothing, accessories, and home decor with your unique designs or slogans. Therefore, earning a profit when customers buy them.

Popular print-on-demand platforms like Printful and Printify integrate with e-commerce platforms like Shopify and WooCommerce, making it easy to set up an online store. Use your Instagram account to showcase the products and promote them to your audience.

14. Brand Collaborations

Instagram users can make money through working with big brands on exclusive products or co-branded marketing campaigns. If you do it right, collaborating with brands is a win for both you and the brand because their products will be visible to your loyal followers and you will also benefit from the reputation and resources of the brand.

Whether you’re co-designing a clothing line, creating a signature product, or participating in a marketing campaign, be selective about the brands you collaborate with to ensure a seamless fit with your audience and brand.

15. Exclusive Content Subscriptions

Start a paid subscription service providing premium content, exclusive access, behind-the-scenes insights, or personal interactions with you. Platforms like Patreon, OnlyFans, and Substack make it easy to create subscription-based content.

Exclusive content subscription will give you steady passive income. It will also give you a dedicated community who will pay for extra perks to gain access to your content. You can use your Instagram account to promote your subscription service and provide teasers or previews of the exclusive content.

Conclusion: Best Business Ideas for Instagram Influencers

Transforming your Instagram influence into a profitable business is not just possible but also an exciting journey that lets you use your creativity and connection with your audience. Whether you choose to sell merchandise, offer coaching, create courses, or explore any of the other business ideas mentioned in this article, remember that authenticity and providing value to your followers are the keys to success.

The best business ideas for Instagram influencers offer many opportunities for user to make money on social and build a brand. With your Instagram account, you can build a business that matches your personal brand.

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