Have you heard about Instagram influencer marketing? Are you curious to find out how it can benefit your business? Do you want to be part of this marketing campaign but stuck on where to start from? You’re in the right place because that’s what this article is all about.
Influencer marketing on Instagram is the new kid in town. Paid posts and marketing campaigns are now new ways in which Instagram users are making money. If you’re a regular Instagram user, you must have already come across an influencer post.
Influencer marketing has managed to become an $8 billion dollar industry as per the 2020 data. The influencer space on Instagram is expected to grow from $5-10 billion by 2021, as influential users continue to recommend various products and services to users. This means Instagram is the best performing platform when it comes to audience reach. The influencers are more willing to share, like, and comment on the content they use.
What Is Instagram Influencer Marketing?
There are Instagram users that have managed to build a massive following on Instagram since they hold a respectable position in the lives of people. These are the people that we call influencers. These people are celebrities, politicians, fashionistas, or just important idols within society.
Influencer marketing is a large and diverse pool, and every brand must have one within the specified demographics. Businesses have the freedom to partner with influencers in their area of focus to place their marketing campaign in front of the target audience and make a lasting impression in the process. Influencers are able to convince their followers to subscribe to their way of life or use the products they are using. For instance, when your favorite celebrity shows you that she’s using a vegan-friendly product to achieve their glowing look, you’re likely to also choose to go the vegan way to achieve the same benefits.
Why Influencer Marketing Will Work For Your Business
Still not convinced that this is what you need for your business? You need to understand why it works.
Through the influence of the community idols, you can reach your target audience in a way that appears more genuine than other salesy traditional forms of marketing.
Unlike other methods where the business needs to sell directly to its consumers, influencer marketing works by building relationships with influencers that market on behalf of the brand. Influencers share many aspects of life with their followers and have managed to build a strong relationship. Buying something promoted by influencers appears like a recommendation from a friend.
Up to 72% of Instagram users agree that they have purchased things related to beauty, style, and fashion thanks to the influences they get from other users. You can’t miss the chance to be part of the businesses experiencing tremendous success in a platform that boasts of more than 800 million users.
How Much Will You Spend?
Well, all the exposure that Instagram will give your business through the influencer does not come free. Like other forms of advertising, this is a marketing platform like any other, and you need to pay for it. So, how much will you need to part with?
The amount your business will pay to get an exposure given by an influencer depends on several factors such as the number of followers, industry, and engagement rate. You might think that having a high number of followers is enough to get the necessary exposure for your products or services.
The influencer must be able to engage their followers. The followers must also have a huge interest in what their influencer is posting. This is determined by the number of likes, comments, and post shares versus the number of followers.
If you are limited in cash, you can work with micro-influencers who are willing to promote a product in exchange for a free sample. The costs are, however, not constant. As the number of followers and the engagement rate of a given influencer continue to grow, the more expensive they become. Sometimes you may need to cough out a whopping $5,000 to $10,000 for a sponsored post. You might also need to pay extra for additional services such as stories, blogs, reviews, takeovers, etc.
There are also different factors that determine the cost apart from the followers and the engagement rate. No one size fits all, and businesses pay different amounts depending on the factors at hand. If you’re targeting influencers with more than 100k followers, you may need to pay more for the kind of exposure they will give your brand.
Finding The Right Influencer
Don’t jump into this blindly, or you risk putting your cash on dead leads. Not all the followers you see on Instagram profiles are real. Some are generated by bots while others are bought. Fake followers won’t help your business in any way because, after all, the profile owner will not be able to influence the followers.
So, how do you find the right influencer?
This is the most challenging part of Instagram marketing, but you can succeed if you know what you’re looking for. What are the ideal characteristics of an influencer? Are they relevant to your brand or campaign message? A good influencer should have a significant reach. They should be able to be creative enough and engage their followers with every content they post. Once you understand all these requirements, you can now narrow down to your ideal influencer and get to work.
In your search, you should also learn some tricks that can help you identify the bot-generated following, comments, shares, and likes. Some profiles may be deceptive enough to make you think they are influencers when they are just fakers. Take your time to go through the influencers’ posts and try to identify some generic comments. Follow what your instincts tell you all the time to avoid putting your money down the drain.
How To Work With Influencers
For the success of your marketing campaign, you need to build a solid working relationship with your influencers. Professionalism is key, and that starts with how you communicate, payment methods, among other things. To avoid getting in trouble, try to figure out your budget before you can start working.
If you understand your budget and needs, it will be easier for you to identify the kind of influencer you need. Micro-influencers work better for people with low budget. These influencers have a following of about 1,000 to 10,000 with very high engagement rates. These types of influencers are also perfect for small businesses targeting a specific audience. More established influencers call for a bigger budget.
Regardless of how much you’re paying, don’t be so deceived by the metrics. The number of followers an influencer has is not really so important. You should rather look for their engagement rate before you decide.
Does your influencer have any experience working on a campaign? What was their success rate in the product/service they marketed? You can also have a look at the products/services they have worked with in the past and see if that’s in-line with your niche. Also, understand the type of posts they have a high success rate with. Are they blog posts, stories, videos, gallery posts, etc. and align your campaign goals related to that.
Once you choose your influencer, you need to understand how to get to them. Send them a direct message via email or Whatsapp. If you can access their phone numbers, you can give them a direct call and discuss the requirements of you two working together. Ask for their cards, and set a budget right away.
What To Expect In Instagram Marketing In The Coming Years
While Instagram influencer marketing has shown tremendous success and growth in the past few years, not every marketer has reaped an equal share of success. Other marketers have felt duped, while some consumers felt mislead as well. Well, this is expected, just like the traditional marketing methods.
However, there are several challenges that other traders and customers face when they use Instagram to promote their products, and when they rely on the platform to make their purchases. There is a great push for transparency from the part of the influencers.
For instance, they should look for ways to distinguish their genuine recommendations posts from the ones they get from sponsorship deals. To address this, there are now hashtags such as #spon or #ad. Instagram has also come up with the official Paid partnership tag. You will see this above a post informing you that the influencer has collaborated with a brand.
There are several regulations and guidelines meant to protect marketers as well as customers from exploitations or misleading posts. As the world continues to undergo several changes, regulations arise every day, and there is going to be more secure when it comes to Instagram Influencer marketing. People are going to be more aware of false promos, and marketers will easily identify fake followers from people that pose as influencers.
The future also sees consumers getting more tech-savvy. This means marketers and influencers need to create more engaging campaigns to remain relevant. Stay tuned so that you’re up to date with every change that is taking place as far as influencer marketing is concerned.