Your Paid Promotions
Once you have a decent number of following, you can then start getting paid for promotions! If in the beginning, it was actually you who was paying for shoutouts, other accounts can now pay you for shoutouts on your page.
However, don’t overdo it. There are other accounts who got greedy with their promotions, and even though they probably earned a lot of money from it, their accounts got deleted, so they needed to start again from scratch. Instagram allows shoutouts, but since it’s a kind of advertisement and Instagram is not earning a single cent from your shoutouts, they crackdown on those who abuse it.
The suggested percentage of promotions that you can per day is 20%. So, if you post 5 times a day, you can have 1 promotional post. If you post 10 times a day, you can have 2 promotional posts.
You will be dictating your price for your shoutouts. If you have no idea how to price it, you can DM the same sized accounts within your niche and ask them about their pricing structure. Be honest and tell them that you are new to paid shoutouts and would like to know how much are their prices for a 12-hour or a 24-hour shoutout. You don’t want to lie to them as these accounts are from your same niche, and as much as possible, you have to build good relationships with them.