Influencer marketing 101 - All you need to know about Instagram influencers.
In this digital and social media marketing age, brands have taken to influencer marketing to get their products and services introduced to new markets. If you’ve ever thought about using influencer marketing as a part of your marketing strategy, yes please, it is the right thing to do.
Influencer marketing strategy won’t only help to increase your brand awareness, it will also grow your follower base, and drive major sales! Experts claim influencer marketing is the single best method of marketing.
Who is an influencer?
Simply put, an influencer is an individual with personal authority, posture, expertise, or relationships that affect the buying decisions of others. An influencer has gained credibility in a certain niche and has a devoted following who values their opinions, tastes, and lifestyle.
Influencer Marketing: What Is It?
Without a doubt, influencer marketing is one of the best marketing strategies to make use of. You must have come across an influencer post on Instagram even if you only spend a few minutes on the platform. Influencer marketing can also be referred to as social influencer marketing or social media influencer marketing. It happens when a brand works with an influencer to promote their product or services. Influencer marketing can take place on any of the social media platforms but Instagram is the best platform for brands to reach targeted audiences quickly.
Why is influencer marketing effective? Trust. As opposed to traditional methods of advertising, your brand is introduced to customers from a trusted source on a casual but authentic social media platform. This marketing strategy clears the doubts in the customer’s mind because the influencer will be introducing the brand as a trusted recommendation and this is to the brand’s advantage. Your number of followers on social media determines your credibility and influencers allow you to reach your potential audience.
When you partner with influencers who are relevant and have an authentic voice in your niche, you place your business directly before your target market- people who are interested in what you have to offer, and you can easily make a real lasting impression.
Partnering with influencers is a spectacular way to promote your brand on social media and gain more followers.
How much does Instagram influencer marketing cost?
Two factors determine how much you will be spending: how big your budget is and how large of a following an influencer has.
Initially, you could find upcoming stars who would accept brand partnerships in exchange for free products but now, bigger influencers charge quite an amount to create a post and have your brand posted on their platforms as some of them have taken this marketing gig as a major source of income while micro-influencers could exchange free products for promotion space on their profile.
It may be impossible to give figures now because amounts vary from person to person but how do you come up with a fair price? $1,000 per Instagram post seems to be the average price for large influencers, but if you desire additional services such as takeovers, reviews, Instagram Stories, blog posts, and more, be expectant of additional charges. Micro-influencers charge something lower, and nano influencers charge even less but what is important is getting results for what you paid.
If you do not have much cash, be on the lookout for influencers who accept in-kind payments. Some influencers will accept a post in exchange for a free product especially if they are already a fan of your brand. Whichever works for you, go with it.
Finding the right partners for your Instagram influencer marketing campaign.
It can be a bit challenging trying to find the right influencer for your marketing campaign but adequate research and set goals would guide you into picking the right partner. For instance, if you’re seeking to increase your brand’s awareness, influencers with the most reach and traffic are what you should be looking for.
Here are hints to guide you in your choice of an influencer partner;
- The quality of their followers.
You need an influencer who has the kind of followers you seek to market to. The followers should be interested in what you have to offer. To find out if an influencer’s audience matches with your target audience, you need to look at things like geographic distribution, age breakdown, gender, and language. By getting your facts right, you’re ensuring to have your products before the right eyes.
- Their Instagram Engagement.
One way to know if the followers are paying attention and taking action at the content of an influencer is the engagement rate the influencer has. The engagement rate is a very valid basis for judging an ideal influencer. If you want to calculate an influencer’s engagement rate on Instagram, divide the average number of likes and comments they get on their posts by their follower count, and then multiply by 100 to get a percentage.
You can go a step forward and ask influencer partners to provide a report of their metrics for accuracy.
- The Kind of Content They Post.
The kind of content influencer posts will help give you a more complete understanding of their niche just like the quality of their followers. You run the risk of partnering with an influencer who doesn’t hold any influence in the niche when you don’t assess an influencer’s content before a partnership and this could ruin your marketing strategy.
- Your Budget.
Your budget is your driving force. How much are you willing to part with? Although some influencers may accept gift products in exchange, don’t get overwhelmed with the whole process and give more than you budgeted. If you’re just getting started with influencer marketing, it might make sense to partner with micro-influencers, depending on the size of your budget.
While influencer marketing is an important part of any overall marketing strategy, it is not the only necessary component. It is one of the most beneficial tools in growing a brand’s audience, engagement, and sales but it is just one subset of your overall marketing campaign because you will still need to focus on creating unique and original high-quality content, build a community on all your social media platforms and a professional customer support system. All these put together would create a successful digital marketing strategy.