As a content creator, your relationship with Instagram is likely complicated. Who could blame you? It promised you one thing at the beginning of your relationship and has since absolutely changed, repeatedly not taking your needs, feelings, or asks into consideration—if this were a friend, family, or romantic interest, the dynamic would be considered toxic…
However, after years of unfavorable algorithm updates, the app seems to be on a redemption campaign to win back the very users who bring the app the most traffic.
n October 2022, Instagram finally released its much-awaited Creator Portfolio. This tool aims to help influencers to build their own media kit all within the confines of the Instagram app. This feature allows users to present their most successful brand partnerships, posts, as well as any other key details about their work.
This feature works in a similar fashion to the Creator Marketplace, instead, influencers will be able to show off their individual traits without being tied to a wider collective. Users will also be able to share their portfolios with brands directly through the in-app messaging system.
Like any subscription that offers you access to a product—think Netflix or certain news outlets whose articles are locked to non-subscribers—Instagram’s version allows creators to monetize their page in a new way all within the app. Not only does it create a stronger relationship with those who subscribe since the content is often more personalized and personal, but it gives creators revenue without being tied to brands. The goal is to empower creators, give them more creative freedom and financial freedom (via predictable income), and make money directly through the app without outside parties. Simultaneously, the exclusivity factor brings fans closer to the creator, forming deeper bonds and, ultimately an even more loyal and engaged audience. Available as an in-app purchase option with monthly prices set by the creators themselves, the feature is a serious game-changer since being offered to all eligible US-based creators.
Ready to add subscriptions to your Instagram account? Make sure to notify your audience by
adding subscription stickers to your stories and creating subscription previews to entice followers to join!
Monetization with Lives
Lives have been gaining traction since about 2020, with the feature becoming especially popular during the pandemic, and though TikTok has recently adopted its own version of it, Instagram is taking it to the next level. Eligible creators can add a badge to their live video streams, allowing viewers to buy the badges. Viewers and followers end up supporting the content monetarily. For a creator, it’s a no-brainer addition to any live video content they’re putting out. Depending on the audience, reach, and topic at hand, a live video stream can generate enough revenue to cover coffee or an Adobe subscription—either way, it’s a simple way to earn a little extra for the work you’re already doing.
Keeping up with the latest tech trends, Instagram is rolling out its own version of NFTs via digital collectibles that creators can make and sell to fans and followers within the Instagram ecosystem. Instagram is setting up an end-to-end tool kit where the collectibles can be made, showcased, and conveniently sold. Additionally, users can cross-post digital collectibles—aka NFTs—that they already own from other platforms onto Facebook and Instagram like a virtual museum.
Overall, it seems that Instagram is doing the most to keep creators happy and making money directly on the platform—whether this is to keep them active and prevent them from losing a major account to competitors like TikTok or YouTube, the monetization aspect is certainly something to capitalize on.
It's no secret that most brands are writing contracts intended to mostly benefit themselves. In order to help you protect your work and get the 💸 you deserve, we have compiled a few terms to be on the lookout for when reviewing contracts for partnerships and platforms.
The Deal Feed is your insider access to the latest brand deals done through Willa. See the deets and leverage the info for your own collabs. You're welcome.