Everything You Need to Know About Instagram Subscriptions

Most content creators use Instagram to generate a stream of income. They may not get this income directly from Instagram, but they use the platform to direct their audience to e-commerce pages and websites where they can buy items. Some create shoppable posts so that their followers can buy products from the Instagram app.

But there are other ways to make money on Instagram. In 2024, so-called social media monetization continues to evolve. With this evolution comes a new tool called Instagram subscriptions. This tool is rapidly growing and evolving, but you can already start planning your content ideas around it, which will help you unlock its full potential when you implement it.

What Are Instagram Subscriptions?

Instagram Subscriptions is a new Instagram feature that allows creators to set up a recurring income stream. They do this by offering exclusive content to the most engaged followers. Just keep in mind that this feature has not been rolled out to all regions just yet.

Along with exclusive content, creators can offer special perks to followers. This means they should promote these perks to their most dedicated followers, who will then subscribe to their account to gain access to premium content. Subscriptions get paid monthly, and followers can read and interact with all content on the creator’s feed. They also get special access to promotions and events in certain cases.

What Are the Benefits of Instagram Subscriptions?

Instagram subscriptions allow content creators to showcase their best work to the most appreciative audience. Even better, it allows creators to secure a monthly income. Being a content creator doesn’t always guarantee an income aside from brand collaborations. It is good to have a steady monthly income to fall back on.

Moreover, subscriptions help build stronger relationships between content creators and audiences.

Who Is Eligible for Instagram Subscriptions?

To use Instagram subscriptions, you must comply with Instagram’s Partner Monetization Policies and be part of the platform’s monetization program. You must live in a region or country where subscriptions are available and be older than 18. Also, you must have a professional Instagram account and at least 10,000 followers.

You can check your eligibility by tapping on the Professional Dashboard. If you are eligible, you’ll see an option to set up subscriptions on your account.

How Do Instagram Subscriptions Work?

Once approved, you can set up different subscription tiers within the Professional Dashboard. For instance, you can set up subscriber-only stories where you’ll share early access to content or behind-the-scenes videos.

You can choose the subscriber-only live videos tier, where you’ll host exclusive live streams. The different tiers also include subscriber badges that signify follower support and membership. You can also use a specific tier to offer product discounts or allow subscribers to send you direct messages.

Your subscribers can manage their subscriptions using the Instagram app. This means they can switch tiers, upgrade, or cancel whenever they want to. You will receive detailed analytics on your subscriptions, including active subscribers, revenue, and content performance.

How to Price Instagram Subscriptions

You can set your tier prices between $0.99 and $99.99 per month. Choose your unique prices based on your content value and your audience’s interaction with your profile.

When you price your tiers, consider how valuable your content is per tier. Also, consider whether your content is something that your target audience is willing to pay for. Do market research on similar creators so you can see what their subscription models are. It is essential that you hit the right balance between offering great content value and keeping prices affordable.

Subscription Content Ideas

Not all content is going to cut it as subscription-worthy. For instance, if you write a blog, there is no guarantee that people would want to pay to read it. Of course, if you’re a celebrated author, it is a different ball game altogether.

In general, people want exclusive content, not blogs. This means you should look at previews of upcoming projects and product launches if you want people to pay for subscriptions. You could offer in-depth tutorials related to your industry or niche. This type of content is especially popular with DIY enthusiasts.

Other valuable content includes outtakes or bloopers while making content videos. This type of subscription content typically only works for well-known creators.

The most important thing to remember is that you must be consistent with your content so your subscribers will get value for their money.

Subscriptions Go Beyond Money

While it’s fantastic to have a regular monthly income, subscriptions are about more than just money. This feature gives you a golden opportunity to build trust with your audience and strengthen your relationship with your followers.

You should regularly thank your subscribers for their support and highlight how their contributions have helped your Instagram numbers. You can show your appreciation by hosting live chats and watch parties.

You can prove that you care about your audience by listening to your subscribers’ content suggestions and incorporating them where possible. You want your subscribers to feel like they’re part of something special. So, build a positive environment where everyone feels like they belong.

How to Encourage Followers to Subscribe

Make it easy for your followers to subscribe to content streams by showing them the easy four-step process. All they need to do is click on your profile and click on Subscribe. This will open a screen where they’ll find prices and subscription benefits. Here, they can click on Subscribe again. Then, they can review the terms and conditions and click on Process Payments.

You can add a short video that will pop up before the terms and conditions appear. In this video, you can explain the benefits of subscribing. You can even explain why your subscriptions are priced a certain way.

Patience Is the Name Of the Game

Like most things in life, Instagram subscriptions don’t promise instant success. You must be patient because building a subscription base takes a lot of time and effort. Most likely, the initial uptake will be slow, but don’t let that discourage you. Just keep producing quality content and adapt your strategy based on audience preferences, and eventually, your subscription rate will pick up.