In a world of social media, where most of the prime stuff is accessible through a paid subscription, it becomes impractical to keep up with a large number of monthly subscription renewals.
This is especially tricky when we have a lot of things to be done on our hands. In fact, just recently I got billed for a skype subscription that I forgot to cancel. But the business idea of paid subscriptions seems to grow further.
This blog will cover how designers look to monetize this Instagram feature.
Let's dive into the topic.
How Much Will Instagram Subscription Cost?
Instagram launched the subscription feature in January, for creators with professional accounts and over 10,000 followers. Creators can charge between $0.99 to $99.99 to charge their paying subscribers and offer them exclusive content including Lives, Reels, Stories, posts, and group chats.
Currently, Instagram is not taking any share of the subscriber revenue, while Google and Apple take 30% of the revenue generated from in-app purchases. Instagram has recently been very proactive with the release of new content formats like Instagram Reels, Instagram Stories, etc.
Now with the release of the subscription feature, they’ve decided to expand the monetization options on the platform as well.
Opportunities For Designers
This pay-to-play Instagram feature creates new opportunities for designers to get rewarded for their creative efforts. But, since opting for the subscription is completely dependent on the audience, designers can’t really decide as yet about what they should charge for the subscription. It will take time of hit and trial to finally figure out the sweet spot.
Educational Value For Subscribers
Many designers are looking to blend educational value with the exclusivity of the content to inspire more subscriptions.
Ashley Rose a designer from North Carolina, looking into offering coaching services to aspiring designers by providing them with industry insights, and do’s and don’ts of it.
This will be a big transition for designers from consistent free valuable content to exclusive industry-inside secrets and hacks to win the game.
Offering Low-Priced Services
Joy Williams is another designer who is planning to also start a mentoring program to help new designers start off right. She is looking into ways how she can provide value in her live streams to clients who can’t afford her full-design services.
It’s obvious that this Instagram feature will inspire a lot of creativity and learning activities on the platform.
Instagram Reels Can Be Huge
Instagram Reels have been super hot recently, and both the creators and audience are loving the format to share and engage with the amazing content. Instagram reel views enhance your presence and highlight your brand in front of customers.
The short-form content format has been creating vibes all across social media. Reels could be a great way to share the scene design process and tools with the audience to inspire creativity and authenticity.
The vertical close-capture of this format perfectly matches the dynamics of the designers’ artistic representation of the work.
Brand Collaboration: Monetizing the New Instagram Feature
Whenever a new feature is rolled out by any popular social platform, creators and consumers look at it from different perspectives. The same is true for this pay-to-pay Instagram feature.
“Rythima Brar” is a Los Angeles based designer looking to connect with her audience by sharing exclusive educational content around her niche.
Brar is looking to tap into a more niche segment- the vendors. She thinks that the vendors might be interested in marketing their products to her audience in subscription-based exclusive content.
This will take content marketing on Instagram to the next level, where creators can make money on both sides of the content.
Since Instagram Reels, Stories, and Carousel posts are getting huge engagements, exclusive subscription-based content will be a great way to monetize a serious audience that values insightful educational content.
What Should Be The Price?
Deciding on what to charge your audience for the subscription is a matter of testing right now. Since the idea is new and there is not enough data regarding audience response, the return on investment, etc.
It will take a little time to see the idea gets mature enough to promise potential worthwhile results for both the creators and the subscribers.
Brar is currently charging $2.99 a month, stating that she decided to start off with the lower end. Once the subscribers are happy with the value they are getting at that price, I may go up.
“For now, I went with a price that I would be comfortable paying myself if I was on the other side,” she adds.
Selling High Ticket Products
While a lot of designers have yet to decide on how to take advantage of this new feature, Williams has some unique plans.
She has set the subscription fee at $9.99, hoping to increase it to $19.99 once she has built a subscriber base. She has come up with the idea of using the low-end subscription as a gateway to sell her high-ticket coaching sessions.
Williams is planning to channel her subscribers to 45-minute video consults that cost $1195 per session.
Similarly, Ashley Ross, a North Carolina-based designer, plans to execute the strategy in reverse order. She is looking to offer her subscription to her audience only after they have consumed her multiple coaching sessions.
Ross’s coaching sessions cost $400 for 1 class, $1200 for 3 classes, and $2400 for 6 classes.
Like any new feature rolled out on a social medium, the subscription-based Instagram feature has the potential to greatly empower creators, and businesses, while providing next-level education to the audience. Instagram aims to bring features that help the audience get the best user experience.
Instagram also has features related to “Guide” and “Press Releases” that are added to your Instagram account. With the “Instagram Guide feature”, people will get to read content on mental and physical health.
Similarly, Businesses can utilize “Reels features” to grow their Instagram profile engagement and skyrocket their success. So, they will get a complete guide to mastering Instagram reels for businesses & creators.
We truly believe that subscription-based exclusivity is a win-win for everybody and that it will evolve at a rapid pace. Do you believe that it is a great idea to put exclusive content behind a price tag?