Influencer marketing is on the rise as the industry is estimated to be worth over $2 billion. Instagram influencers are known for partnering with brands that are relevant to their niche, which explains why the platform is inundated with influencers that promote a variety of products and services. Influencer marketing on Instagram is proving to be lucrative as 80% of consumers admit that their purchases are encouraged by influencers.
We have created a comprehensive guide to influencer marketing on Instagram in order to boost your marketing campaign.
Source: Oberlo Youtube Channel
What is Instagram influencer marketing?
Instagram influencer marketing utilised by brands to increase the visibility of their products, increase conversions and promote brand awareness. Instead of brands directly marketing their products and services to their target audience, Instagram influencers promote brands’ products and services on their behalf. Brands leverage Instagram influencers given that their authenticity and originality creates a trusting relationship between influencers and their audience. Therefore, when influencers recommend products to their fan base, their followers are more likely to make purchases.
Does Instagram influencer marketing work?
Influencer marketing on Instagram works because of the level of trust that goes into the relationship between Instagram influencers and their loyal followers. Instagram influencers are known for being their true, authentic selves, which is why they amass huge followings on the platform. They are experts in their respective niche categories, which also contributes to their devoted fan base. Influencer marketing on Instagram is preferred by most brands rather than traditional marketing methods. This is because Instagram influencer marketing strategy focuses on the shared interests between influencers and their audience. For example, Instagram users are likely to follow influencers whose content belongs to niches that they have a genuine interest in.
How much does influencer marketing on Instagram cost?
The cost of Instagram influencer marketing depends on several factors, such as your budget. When deciding on the right influencers for your marketing campaign, you should always prioritise your budget. This will help you to search for influencers that fit your brand. The cost of influencer marketing also depends on the types of influencers that you are interested in. For example, celebrity influencers such as Kylie Jenner earn over $1 million for each post. However, micro-influencers can charge between $100 and $500 per post. Macro-influencers can charge between $5,000 and $10,000 per post, so it is important that you research the typical earnings of your potential influencers before reaching out to them. The cost of influencer marketing also depends on the engagement that influencers receive. The higher the engagement with their content, the more likely influencers are to charge higher prices for brand collaborations.
How to find the right influencers on Instagram ?
When searching for Instagram influencers for your marketing campaign, you must always prioritise your content and brand goals. For this reason, the values of your potential influencers should always align with your own. The follower numbers of your potential influencers are also crucial to choosing the influencers that are a right fit for your brand. There are many different ways to find influencers on Instagram.
1. Search relevant hashtags
If you are not sure how to find the right Instagram influencers for your brand, then using the search feature on the site is a perfect start. You have the option to discover a variety of influencers through using selective words. It would be wise to carry out a combination of general hashtags and branded hashtags in order to create an extensive list of potential influencers to work with. An example of a general hashtag would be to search #beautyinfluencer if your brand belongs to the beauty industry. To be more particular, you could search #eyeshadowtutorial if your campaign revolves around promoting a new eye shadow palette. This is a great way to find influencers who are already working with similar products, as they would be more likely to collaborate with you.
2. Analyse your competitors
One of the many benefits of influencer marketing on Instagram is that it is easy to observe your competition. Analysing which of your competitors’ influencer marketing campaigns drive the highest and lowest engagement is a great way to determine the types of influencers that fit your own brand. However, be mindful of the fact that the types of influencers that best suit your rivals may not always be the best fit for your brand.
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