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Tech Trends: As I mentioned a few columns back, I just started using Instagram to try and grow my business. Why? Although Facebook and TikTok remain the absolute leaders in the social media space, with 2.7 billion and 1.9 billion users in 2023, Instagram brings far more money for content creators working in the industry.

According to open-source data, last year, content creators earned an average of $2,784 per paid Instagram Story, 30% more than from paid YouTube video post and 330% more than from Facebook photo posts.

The cost of influencer marketing posts has exploded over the past years. According to a report by a marketing company, IZEA, the average paid post brought in more than $1,100 to content creators last year. Back in 2015, that number was only $25. This eye-popping 4,300% price jump in just seven years has helped content creators and influencers significantly grow their incomes. Still, not all social media platforms offer the same earnings.

According to the survey, the world`s third-largest social media platform, Instagram, and the number one community for gamers, Twitch, have the priciest paid posts.

Last year, content creators earned an average of $2,784 from a single paid Instagram Story, much more than from a paid video post on most other social media platforms. TikTok stood close, with an average price of $2,741 per paid post. Statistics show YouTube paid video posts brought in an average of $2,102 to content creators last year, or 30% less than Instagram and TikTok promotions.

But paid posts on all three platforms are still considerably cheaper than those on Twitch, the world`s number one community for gamers. Statistics show a single video sponsorship on Twitch costs a hefty $4,373 on average, 60% more than Instagram Story or TikTok paid posts.

The survey also revealed that combination posts to Instagram Stories and TikTok and Instagram Stories and YouTube were the priciest at $6,444 and roughly $12,000, respectively.

Over the years, videos have become the most shareable online content, bringing companies a huge reach, driving user engagement, and boosting brand awareness. According to a Wyzlow survey, people on average watched 17 hours of online video content per week in 2023, and 91% of respondents said they wanted to see more online videos from brands.

So, it`s no surprise that paid video posts on social media platforms cost twice more than photo posts. The IZEA data show that photo-based paid posts on Facebook cost $642 last year. Instagram photo posts were twice as expensive, costing $1,311. Statistics show Twitter had the highest average price of paid photo posts of $1,643 last year.

My journey hasn’t been as costly, and your journey doesn’t have to be either. I post pictures and I make videos with Wondershare and Camtasia, which aren’t free but don’t cost much. In the end I have increased the traffic to my website and gotten a lot of new leads in a very challenging market, so Instagram and producing videos has certainly paid off for me, but I’m still waiting for my shot to make $2,784 per Instagram post as some popular content creators pull in. We should all be this lucky.