If you want immense success in your Instagram marketing efforts then you will definitely want to run an Influencer marketing campaign along with it. A lot of businesses do so and this is, therefore, becoming one of the best and most effective ways for businesses to meet with different needs such as:
- Increasing its brand awareness
- Growing their follower base
- Increasing the engagement levels and
- Driving more sales.
Running an influencer marketing campaign is also gaining importance at a rapid pace due to the fact that the Instagram algorithm continues to restrict organic reach.
Even marketers give a lot of importance to influencer marketing and you will see how they do so when you visit sites such as blastup or others to get some cue.
Therefore, if you have not given Instagram influencer marketing a try yet, you are surely leaving behind a major chunk of your followers who could have been our prospective customers, loyal ones at it as well.
However, in order to make both your Instagram marketing as well as your influencer marketing success, you will need to know a few specific and important things such as:
- The ways to find the best and most appropriate influencers for your business
- The ways to disclose the sponsored posts properly and most effectively and
- The ways to determine whether or not your influencer marketing campaign is actually working for your business by using different metrics.
In order to perform such a task which can be quite difficult if not done perfectly, you will need to start from the basics.
Reasons You Need It
Being a business owner, every investment you make should ideally provide a high ROI. Therefore, when you invest in influencer marketing, you should know exactly why, and if at all, your business needs such an approach. Ideally,
- Instagram is one of the best social media platforms that support influencer marketing.
- This allows brands of different nature and type to partner with different influencers so as to make then best of their already existing followers and grow their own fan base quickly.
- If you consider the engagement rate of Instagram, it stands at an average of 3.21%, as compared to the 1.5% rate of all social networks making it by far the best performing channel for such an involving social action.
Another big reason to go for Instagram influencer marketing is that it is so effective that it will remove all the barriers and challenges that are so common in traditional advertising.
It will help your brand to get introduced to a larger and newer audience through one of the most trustworthy sources, your influencer partner. This is because when an influencer endorses a product or service on their own channels, it is believed to be an authentic recommendation by the followers from a friend they love to follow.
It is for this reason that it is found that more than 67% of the marketers are already taken onto this Instagram influencer marketing concept for the promotion of their brand and product. The experts suggest that this number is expected to increase significantly in the coming few months when the organic reach declines further, thanks to the Instagram algorithm.
In fact, social media influencers now have become an indispensable part of brand marketing, especially on the Instagram platform.
Now that you know the reason to take onto Instagram influencer marketing, there is another aspect that you will want to consider to ensure it is a worthy investment: the cost factor. It is obvious that you will want to have a fair price, especially when there are so many different factors to take into account.
However, in reality, there is no magic formula to deduce the cost of Instagram influencer marketing because the rates vary according to the factors like:
- The influencer you wish to partner with
- The popularity
- The fan following and other aspects of the influencer.
Nevertheless, according to the 2018 report of State of Instagram Marketing it is seen that some influencers may charge you as much as $5000 to $10,000 for each sponsored post, but the common figure ranges between $250 to $1000. Pretty cheap and worth a try, isn’t it?
Unfortunately, when it comes to the cost factor of Instagram influencer marketing there is no ‘one size fits all’ concept followed. Therefore, spend some time on our research to find the best influencer for your Instagram marketing strategy.
The Rise of Micro-Influencers
If you are really worried about the cost factor of influencer marketing which has grown in popularity on Instagram, there is a ray of hope across the tunnel. You need not spend thousands of dollars on it to cash in on this popular and ever-growing trend.
You can even have the proper value in partnering with the micro-influencers on Instagram. These are the influencers who have a comparatively small social media following, often ranging from 1,000 and 100,000 followers, but all of them are highly engaged. In fact, the report by Collectively indicates that there is a growth of 15 to 75% seen in micro-influencers in 2017, indicating the demand and usefulness of these influencers.
Reasons For Their Growth
That means that the Instagram influencers may have accomplished a sort of “celebrity status,” but the micro-influencers are not to be ignored either. They are more like everyday consumers and therefore they are equally reliable, relatable and trustworthy as the so-called celebrity influencers. This is because they too target a niche audience, albeit much smaller in number as compared to the Instagram influencers.
The growing number of micro-influencers can be best explained by the facts that:
- They retain higher levels of engagement as compared to the top-level influencers as studies have shown that there is a negative correlation between audience size and engagement rate and
- The Instagram influencers having hundreds of thousands of followers are not considered to live a “normal” life exactly and are therefore less relatable to the common audience and the everyday consumers.
Therefore, people are more likely to believe in a recommendation from a friend instead of a celebrity.