“Instagram Influencer Marketing,” according to me is the most prominent arbitrage in marketing. The previous year has been the most excellent year for Influencers with a massive fan following on Instagram.
Numerous brands all around the world have leveraged this arbitrage. So, Why can’t/won’t you?
In this article, we are going to talk everything about Instagram Influencer marketing and, How to leverage it for your business. We will also discuss examples and past success stories. Read it until the end. Then, let me know in the comment section below if I can help you in any way.
So, What is Instagram influencer marketing?
According to me, Instagram influencer marketing means investing the money on influential people with lots of followers on Instagram rather than directly to the market. And then, these people promote company’s products/services to their audience.
In short, peoples’ attention and source of trust are where companies invest their money.
If we want to define influencer marketing, in other words, we can call it as “word of mouth on steroids.”
Why Instagram influencer marketing?
As I have talked in one of my previous articles, The data suggest that for every dollar spent on influencer marketing we get 650%, i.e., $6.5 back in return.
Note: The ROI will be 650% only if everything is properly planned and executed with proper creative.
People influence people. Nothing influences people more than a recommendation from trusted friend.A trusted refferal influences people more than the best broadcast message. A trusted referral is holy grail of advertising. – Mark Zuckerberg
Instagram influencer marketing works and is a more meaningful arbitrage because:
- Instagram has nearly 800 million active users monthly.
- More ‘personal brands’ can easily be found on Instagram.
- People give attention to brand’s message if it comes from a trusted source.
- Influencer’s message helps in building credibility.
- It is underpriced.
Hence, If you are not using influencers for the betterment of your business, stop reading this article and start finding relevant influencers.
Who is an influencer and How to find one?
An influencer in Instagram can be anyone, a personal profile with 5k followers to a meme page with 500k followers to a celebrity page with 50m followers.
We can divide Instagram influencers in two ways according to the genre:
- Micro influencers.
- Macro influencers.
1. Micro influencers:
Micro influencers are the particular group of influencers having a small-medium size of the audience. The size of the audience can vary from starting small as 5000 to large as 500,000.
Micro-influencers are social media users unlike typical celebrities, experts, or public figures. They’re individuals who work or specialize in a particular vertical and frequently share social media content about their interests. Unlike traditional “influencers,” micro-influencers have a more modest number of followers — typically in the thousands or tens of thousands — but they boast hyper-engaged audiences. –source
The above post comes from sunlesslove, an Instagram micro influencer. She has around 24k followers, and most of them are interested/impressed in fashion & beauty niche.
Hence, fashion brands like “vicdolls” as shown in example approach or get approached by micro influencers like her.
In conclusion, people with moderate followers can influence your product for a less cost.
2. Macro Influencers:
Macro influencers include influencers having follower count in millions. Most of the macro influencers are well-known celebrities like Cristiano Ronaldo or Kim Kardashian.
In the above image, you can see Ronaldo with Nike Shoes, and you can also see “paid partnership with Nike” near his profile name. This can be considered as one of the examples of macro influencers.
As we have discussed in one of our previous articles,
Ronaldo posted 1,703 times overall on social media in 2016. Those posts generated 2.25 billion social interactions (likes, comments, shares, retweets and views on videos), per Hookit. Nike was referenced or its logo visible in a photo or video in 347 of the posts, which had 477 million interactions. Hookit’s methodology looks at promotion type and quality, as well as interactions and market-driven rates. The result: $499.6 million for Nike in media value from Ronaldo’s posts. (source)
Hence, if you are a big brand and can afford to have celebrities as your macro influencer then you should go for it.
The ways to find Instagram influencers:
Finding Instagram influencers can be as raw as DMing people for promoting your product, or as skillful as going through sites with a database of influencers.
I won’t go through same cliché thing over and over again, so if you want to know how to find an influencer, here’s a link to one of my previous post delivering the same information.
Wrapping up, I would like to say that Instagram influencer marketing is not “some unknown” thing in marketing but this opportunity is still an arbitrage. It’s not some “missed-out” opportunity, so if you are a business with a marketing budget, then Instagram influencer marketing is still an option go with.