Monetizing Your Passion: How Instagram Subscriptions Can Help Content Creators Build Their Empire
To support content creators, Instagram has recently launched a new subscription feature.
Currently, Meta's platforms do not deduct any portion from creator earnings. Initially set to expire in 2023, CEO Mark Zuckerberg recently announced that this policy will now be in effect until 2024. While this incentivizes creators to monetize Meta's products long-term, it is also a lucrative deal for creators in the short term. It remains uncertain how much Meta will charge creators once this initial period ends. However, Zuckerberg has indicated it would be "less than the 30% cut charged by Apple and other similar platforms."
Who meets the criteria for Instagram Subscriptions?
In order to initiate your own Instagram subscription, you are required to:
- Have a Creator or Business Account on Instagram.
- Have 10,000 followers or more.
- Be at least 18 years old.
- Meet Instagram’s Partner Monetization Policies and Content Monetization Policies.
- Adhere to Instagram’s Community Guidelines.
Instagram Subscriptions are currently available to all qualifying creators in the United States and a limited number of creators in the United Kingdom, Canada, and Australia.
What are the steps to start an Instagram subscription?
In order to create your own Instagram subscription, navigate to the professional dashboard and follow these steps:
- Tap Set up subscriptions, then tap Next.
- Agree to Instagram Subscription Creator Terms of Use, then tap Next.
- Set your monthly price, then tap Next. There’s a calculator at the bottom of the screen that helps estimate your potential monthly earnings based on your number of followers.
- Tap Publish and then Create. Once enabled, your followers will see a notification in their activity feed and on your profile to subscribe.
How can you receive payments from your Instagram subscription?
Before receiving payments, it is necessary to establish a payout account on Instagram. You can manually enter your bank account information, connect to a PayPal account, or utilize your online bank account credentials to log in. After this step, payments are processed monthly, with payouts generally issued around the 10th day of each month, reflecting earnings generated in the preceding month.
What functionalities do Instagram Subscriptions offer?
When you switch on Instagram Subscriptions, you'll have the ability to craft bespoke content and offer exciting perks using an array of excellent in-app features, including:
Subscriber Chats
Subscriber Chats are a fantastic way to strengthen your bond with your most devoted fans! This feature empowers you to connect directly with your community by responding to questions, delivering top-notch customer service, or receiving valuable feedback from your subscribers.
These chats have a lifespan of just 24 hours, making them a perfect opportunity for intimate conversations with your subscribers. You can create group chats for up to 30 subscribers and yourself, allowing for lively discussions on various subjects or the chance to get to know your followers more personally.
Subscriber Stories
Create Stories that are exclusively for your subscribers! These Stories are easily recognizable by a distinctive purple ring and can be used to offer one-of-a-kind content, hold exciting giveaways, or provide an exclusive peek into what goes on behind the scenes in your business. And don't forget - you can also transform your Subscriber Stories into exclusive Reels that your subscribers can view anytime they like!
Subscriber Badges
Your subscribers will receive a unique purple badge icon that sets them apart from other followers. It's a fantastic way to show your subscribers how much you appreciate their support and to let them know that they are important to you. This also makes it easy for you to recognize your subscribers and respond promptly to any messages or questions they may have.
Subscriber Lives
Hosting live streams on Instagram is a fantastic way to interact with your subscribers and make them feel valued. You can engage with your audience in real-time by answering questions, giving tutorials, or even hosting giveaways exclusively for subscribers. Additionally, you can receive immediate feedback from your most devoted followers and make them feel like they are a part of your community.
How can Instagram Subscriptions enhance your connection with your fans and take your content to the next level?
Although Instagram Subscriptions can be an exciting opportunity to earn money from your content, it's essential to weigh the advantages and disadvantages of using this feature.
Advantages of Instagram Subscriptions
Instagram Subscriptions can bring several benefits to creators, such as:
1. Increased engagement
Exclusive content can keep your followers hooked to your account for extended durations.
2. Steady income stream
By offering exclusive content, you can create a consistent and reliable source of income from subscribers who pay a monthly fee to access your content.
3. Build an audience of superfans
Providing exclusive content can help you cultivate a devoted community that will support you through the highs and lows.
Instagram Subscriptions also have some drawbacks to consider
Setting up Instagram Subscriptions may come with some potential drawbacks to keep in mind, such as:
1. Extra work
Generating exclusive content demands additional time and energy, which might not be practical if you have a tight budget or work solo, or have a small team.
2. Difficulty getting subscribers
At first, it can be difficult to gain subscribers as you'll need to show your followers that the exclusive content is worth investing in.
3. Limited reach
Ultimately, it's important to keep in mind that not all of your followers will be interested in paying for exclusive content. Therefore, it's necessary to explore other marketing strategies to attract new followers to your account.
Instagram subscription content ideas
Looking to make your Instagram Subscription stand out? Consider creating exclusive content that your subscribers can't find anywhere else. Here are some content ideas to get you started:
Live Q&A sessions
Engage with your followers by regularly hosting Q&A sessions, where they can ask you anything about your business or content.
Exclusive discounts and sales
Provide your subscribers with exclusive discounts on your products and services, making them feel appreciated and incentivizing them to continue their subscription.
Behind-the-scenes look
Provide your subscribers with an inside scoop on your creative process, such as behind-the-scenes footage of how you brainstorm ideas or your editing process.
Subscriber giveaways
Organize frequent giveaways for your subscribers to show appreciation for their support and loyalty.
Private coaching
If you're a pro in a particular niche, consider offering private coaching sessions exclusively to your subscribers. These can be an excellent addition to any digital products, like e-books or online courses, that you may offer.
What kind of content can you share on your Instagram Subscriptions? Are there any limitations or rules to follow?
Yes, there are some rules to follow when it comes to the type of content you share on Instagram Subscriptions. The content you offer must be exclusive and not include any nudity, hate speech, spam, or illegal activities. Additionally, subscription accounts must post at least once a month.
Want to start an Instagram subscription?
Here are some tips to make the most out of it:
Pricing
When setting a price for your Instagram subscription, it's important to strike a balance between what your followers are willing to pay and what you need to earn. Subscription prices can range from $0.99 to $99.99, so it's important to consider factors like the type of content you'll be offering and your target audience.
Choosing a lower price point can attract more subscribers, while opting for a higher price point can create a more exclusive community. Ultimately, it's essential to set a reasonable price that provides value to your followers while also allowing you to earn a profit.
Content
To make the most of your Instagram subscription, it's important to prioritize creating high-quality content. Your exclusive content should be something that your followers are willing to pay for, so ensure that you're offering value to your subscribers. Additionally, be consistent with your posts to build trust and establish a reliable schedule that your subscribers can rely on.
Leverage influencers
You can also try collaborating with influencers in your niche to boost your subscription numbers. They can help you promote your exclusive content to their followers and attract more subscribers to your account.
Marketing
Spread the word about your subscriptions. Avoid being too forceful, but utilize a combination of natural and paid strategies to inform individuals about your subscriptions.
Build relationships with subscribers
Your subscribers are showing genuine support for you and your content by spending money to access your exclusive content. It's essential to foster a strong relationship with them and provide them with the best possible experience.
Make it easy to sign up
If you want your followers to subscribe to your Instagram profile, you need to make it easy for them. Be upfront about what they can expect from your subscription and how often you'll provide exclusive content. Here's a simple guide to asking followers to subscribe:
- Go to the creator's profile and click on the Subscribe button.
- They'll be taken to a page that explains the pricing and benefits of the subscription.
- Click on the Subscribe button to proceed.
- Review the payment terms in the popup and click on Process Payments.
You can also include a link to subscribe in your Instagram Stories using the Subscribe button and provide instructions in your bio. Remember, making it as easy as possible for your followers to subscribe to your content is essential. Once they do, make sure to deliver on your promise and provide them with quality, exclusive content that makes them feel valued and appreciated.
The Instagram subscription feature is a great way for content creators to turn their passion into profit and avoid burnout. It allows them to build a stronger bond with subscribers by offering subscriber-only group chats. Moreover, it will enable creators to stand out by delivering one-of-a-kind content exclusively available to their subscribers.
Check out how E-Commerce can use Instagram Subscriptions!
Are you ready to start making money with Subscriptions on your Instagram?
ENGE is happy to help! Email me at Joanna@goenge.com or schedule a consultation, and we can help you figure it out!
Enjoy Instagramming!
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