The Ultimate Guide to Instagram Influencer Marketing

 In Later

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If you’ve ever considered using Instagram influencer marketing for your business, now is the time to start!

Adding Instagram influencer marketing into your overall strategy for Instagram can help to increase your brand awareness, grow your follower base, and drive major sales!

Ready to get started with Instagram influencer marketing for your business?

In our Ultimate Guide to Instagram Influencer Marketing, we cover everything from how to find the right influencers for your business, to properly disclosing sponsored posts and determining if your Instagram influencer marketing strategies are actually working for you.

Let’s get started:

instagram influencer marketing

Table of Contents:

  1. Why Your Business Needs an Instagram Influencer Marketing Strategy
  2. How Much Does Instagram Influencer Marketing Actually Cost?
  3. How Small Businesses Can Leverage Instagram Influencer Marketing with Micro- and Nano-Influencers
  4. How to Find the Right Partners for Your Instagram Influencer Marketing Campaigns
  5. How to Properly Disclose Your Instagram Influencer Marketing Sponsored Posts
  6. How to Track the Success of Your Instagram Influencer Marketing Strategy

Influencer Marketing: What Is It and Why Your Business Needs It

If you’ve spent even a few minutes on Instagram, there’s a good chance you’ve come across an influencer post. Once a small space with just a few key players, influencer marketing on is on pace to become an $8 billion dollar industry by 2020.

And when it comes to influencer marketing, Instagram is by far the best performing platform for brands to reach new audiences quickly. It’s also the best channel for social action — with an average 3.21% engagement rate compared to 1.5% across all social networks, Instagram users are more likely to comment, like, and share the content they consume.

So what makes influencer marketing so effective? Well, part of it has to do with trust.

Instagram influencer marketing removes the barriers of traditional advertising because customers are introduced to your brand from a trusted source (the influencer) on an authentic, casual platform (Instagram).

When an influencer recommends a product or service on their channels, it can come across as a trusted recommendation from a friend. This is obviously hugely advantageous to brands — it gives them direct access to target markets for just a fraction of what they’d pay for a traditional ad. 

By partnering with relevant influencers who have an engaging and authentic voice, your business is placed in front of people who are already interested in your niche, so it’s easier to make a real, lasting impression!

Authenticity is key. When an influencer is consistent with a niche market, for example, cruelty-free cosmetics or vegan workout supplements, their followers will hold that influencer as an authority on that topic and will grow to trust and be guided by their recommendations.

As a result, partnering with influencer can be an incredible channel for promoting your products and brand on Instagram!

Just getting started in the world of influencer marketing? Learn everything you need to know about strategizing for your first campaign in our free Instagram Influencer Marketing Strategy Guide!

 

How Much Does Instagram Influencer Marketing Actually Cost?

It’s one of the biggest questions in the industry and it all comes down to who you want to partner with and the size of the project.

In the earliest days of influencer marketing, rising social stars would take on brand partnerships in exchange for free product. But for most, those days are long gone. While there are many micro-influencers still willing to exchange free products for promotion space on their profile, today’s biggest Instagram influencers are charging major bucks to create posts for brands as their accounts have become their main source of income. 

In fact, some influencers report charging as much as $5,000 to $10,000 per sponsored post!

instagram influencer marketing

There’s no question social media influencers have become an indispensable asset for brand campaigns, especially on Instagram. But how do you come up with a fair price when there are so many factors to consider, like the scale and scope of the partnership or the number of sponsored posts and stories you require?

If you want to work with influencers in the 100k+ range, you may have to pay a pretty penny for your posts. In fact, we spoke with several large influencers and a rate of $1,000 seemed to be the average price per single Instagram post, while rates for additional services (such as takeovers, Instagram Stories, blog posts, and more) varied. 

Micro-influencers, on the other hand, tend to charge closer to $300 per Instagram post, and nano-influencers charge even less.

And while cash is the most desired form of payment, in-kind campaigns can still be a meaningful exchange. Collectively reported that “54% of influencers say they would be more likely to post in-kind, or in exchange for free product, if they’re a true fan of the product or brand.”

Unfortunately, there’s no one-size-fits-all answer when it comes to how much Instagram influencer marketing costs, and there are a variety of factors involved that go well beyond an Instagram influencer’s number of followers.

Want to know more? Check out our post This is How Much Instagram Influencers Really Cost.

How Small Businesses Can Leverage Instagram Influencer Marketing with Micro- and Nano-Influencers

Influencer marketing may have grown in popularity thanks to Instagram, but you don’t need thousands of dollars to cash in!

Thanks to a growing trend, more and more businesses are seeing the value in partnering with Instagram influencers who have a small but highly-engaged following. In fact, according to HubSpot, almost one-third of all Instagram channels are micro-influencers with fewer than 100k followers. Mega-influencers with over 5 million followers make up less than 1% of all influencers.

So what exactly are micro-influencers and nano-influencers and why are they of benefit to brands? Generally speaking, a micro-influencer is someone who has significant, but not massive, social media following. This generally ranges from anywhere between 10,000 and 100,000 followers. Nano-influencers, on the other hand, usually have less than 1,000 followers.

While Instagram influencers have attained a sort of “celebrity status,” micro- and nano-influencers are more like everyday consumers, so they tend to be very relatable and trustworthy.

Instagram influencers with hundreds of thousands of followers often lead lives that aren’t exactly “normal,” and their feeds can look like aspirational lifestyle catalogs.

Compare that to someone who has 5,000 to 15,000 highly-engaged Instagram followers, who more than likely is working on their Instagram profile as a passion project, rather than their full-time job. Well, it’s just way more relatable to the everyday consumers!

When a micro-influencer features a product on their channels, it can come across like a trusted recommendation from a friend, rather than a celebrity endorsement. And this can make all the difference to a small brand trying to establish themselves in the market or reach new audiences.

One of the biggest benefits of working with micro-influencers is that they tend to retain higher levels of engagement than top-tier influencers.

This was confirmed by two separate studies by HelloSociety and Markerly, which found a negative correlation between engagement rate and audience size.

This means that an Instagram post from a micro-influencer will likely be seen by a larger percentage of their following, so you could potentially reach more people through 20 Instagram posts than you could by investing in 1 Instagram post with a large influencer.

Of course, this isn’t always the case! Many popular influencers have been able to maintain a high engagement rate on their posts as well. Like @kyliejenner, who despite having over 100 million followers, usually gets an engagement rate of 3 to 10 percent on her posts.

This post was originally published on Later

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