Influencer marketing is nothing new because celebrity endorsements in advertisements were the first type of influencer marketing. The advent of social media has given a new dimension to influencer marketing. The close communication between brands, influencers, and their followers creates an explosive marketing package that spurs sales. Today, influencer marketing is a $2 billion industry. And from the time influencers made their presence felt on Instagram, it has completely changed the marketing dynamics on the platform. Many Instagram influencers are making a living from collaborative marketing campaigns and paid posts.
Influencers are brand ambassadors who have a trusted follower base that rely heavily on influencers' views about brands, products, and services when making purchasing decisions. You can buy 10 likes on Instagram to lend more focus to your posts and engage in interactions with real people that increases conversion prospects. However, the outreach you gain from your effort is just too little compared to the outreach that you gain from influencer marketing.
By looking at some numbers, it will be easy to gauge the impact of influencer marketing. According to estimates, the growth rate of influencer marketing in 2021 should be between $5 billion and $10 billion. If you are yet to decide whether to tap into influencers' power on Instagram, make a splash right now.
What is Instagram influencer marketing?
Influencers have created a large following on Instagram and hold sway over their followers who trust them completely. The followers respect the influencers that follow and even idolize them. Influencers might have used their leadership qualities and knowledge to earn respect and trust in different areas of their lives, like their lifestyle, hobby, and fashion. They have high convincing power that impresses the followers about the views they express.
Influencers are available in plenty, and every brand has an opportunity to find influencers who relate with the brand and are ready to represent it. One of the most notable aspects of influencer marketing on Instagram is its authenticity as people get unbiased opinions about products and services. You can check Insta4likes.com for tips.
During the early days of influencer marketing on social media. Influencers would receive a product as a gift in exchange for posting about the brand or product in their profile. With influencers' rising popularity, things started changing as influencers chose to monetize their efforts and endorsing brands.
What makes influencer marketing work?
Influencer marketing outscores traditional advertising due to its authenticity as influencers speak from their heart that appears more genuine. Businesses are building relationships with influencers to represent their brands and products for selling to consumers by convincing them about the brand's goodness. Influencers share many aspects of their lives. They develop a solid and loyal bonding. It gives the followers a feeling as if they know the influencers personally and their recommendations are entirely trustworthy, like the recommendation from a close friend. Since many influencers comment about products or mention them after experiencing them, their views are more reliable.
Cost of influencer marketing
Some influencers make it to the list of the wealthiest persons globally. And if it is a celebrity influencer, it can cost you a lot of money. Kylie Jenner tops the list of Instagram influencers by charging $1 million for creating a post about a product on her profile. Such is her influence on Instagram that just a single tweet she circulated last year saw Snapchat's market value declined by $1.3 billion. How much an influencer charges depend on several factors like the industry, the number of followers, engagement rate, etc. However, the engagement rate is a more important factor over the number of followers because it determines the conversions.
Who can become an Instagram influencer?
To become an Instagram influencer, you must have an engaged band of followers of sizeable numbers. You must be serious about anything you do to demonstrate it to your followers. Most importantly, you must be able to create a valuable market proposition for brands. And have considerable influence on your followers, who in most cases accept your opinion and views with blind trust.
When choosing an influencer, look at the follower demographics to understand how much it matches your target audience. The other thing to consider is that they have genuine followers who are ready to engage with brands recommended by the influencer.
Be careful to verify the genuineness of the influencer Instagram account. And the likes and comments it receives so that these are from real people and not bots. The same applies when you buy likes from real people because to gain mileage in Instagram marketing, genuine engagement with real people is critical. Do not be deceived by some Instagram influencer accounts that do not have any real people behind them.
By looking at the comments, you can make out whether it is from real people. Comments that are more like prototypes of human comments are usually bot-generated. And they can never create authentic engagement, which is the ultimate test of success in influencer marketing.
A good influencer will consider their followers' interests before choosing a brand that they want to partner with. They would sponsor posts of brands that their followers would like to engage with. One of the reasons for referring to the arrangement of influencer marketing as a partnership is because influencers also develop their content for the brand. It is more than sponsoring brands as it includes collaboration.
Working with influencers on Instagram
Since Instagram marketing is a part of your overall marketing strategy. You must consider the amount you want to spend by creating a budget. Be liberal with your budget because influencer marketing is expensive. And influencers can charge per post or Stories depending on the arrangement you negotiate with them.
Suppose you have a small budget for micro-influencers who, despite not having an air like celebrities, can be quite effective in meeting your marketing goals. Please do some research about the influencers you have in mind to understand how well they match your target audience's demographics.