You might have heard of it. You might have even seen it on Social Media. Let's take an in-depth look at what it is, what it costs, and just how effective it can be.
If you’re on Instagram, chances are that you’ve seen an influencer promoting a product. They are everywhere. The reason for this is because Instagram marketing is found to be extremely successful. In fact, over 92% of marketers who used influencers to advertise their products found it to be successful. But what exactly is an Instagram influencer and how do businesses leverage them?
Today we’re going to dive into the world of Instagram influencers and Alamo Digital Agency has worked with a lot of local influencers that we have incorporated in our Digital Marketing Strategies in McAllen, Tx.
What is an Influencer?
If you’d like to see a concrete example of an Instagram influencer, head to Instagram and check out @AmandaCerny, @ZachKing, or @LizaKoshy. These were some of the top Instagram influencers in 2019. Their job? To promote products, places, and services.
Influencers like this have millions of followers and are able to develop a relationship with their audience. For this reason, they have the ability to affect purchasing decisions. To date, there are
4 different types of influencers on Instagram:
2) Industry experts
3) Bloggers/content creators
4) Micro-Influencers (everyday people who have developed a following in a specific niche).
For this article, we're focusing on Micro-Influencers who have built up a large LOCAL Following.
What does it take to become an Instagram Influencer? It’s really in the numbers. Anyone can become an influencer with the right number of followers, but this number differs greatly depending on the niche.
Some industries, such as casual clothing, require no more than 15,000 followers before they will start paying for influencer advertising. Other industries, like hotels, require a great deal more, and will not pay for advertisements until you have over 73, 000 followers.
How do businesses leverage Instagram Influencers?
The reason that so many businesses are using influencers is simple - it works. We all know that the best type of advertising still remains to be word-of-mouth, and that’s exactly what influencer advertising is. Instagram influencers have the ability to reach a large number of people quickly and because they are seen as role models, they also have the ability to influence their follower's purchasing decisions. If someone sees Amanda Cerny looking fantastic with a Gucci Purse on her side, they’re going to be more likely to go out and buy themselves a Gucci purse.
Exactly how effective is influencer marketing?
According to statistics:
● 71% of marketers state that influencer marketing drives sales more than any other type
● 89% of marketers state that their Return on Investment is better with influencer marketing
than any other type of marketing.
● 86% of women use social media for purchasing advice
● 70% of teenagers would trust an influencer over a celebrity
● For every dollar spent, those investing in Influencer marketing earn over $6.50
How much should you pay an influencer?
When you hire an Instagram influencer, you generally pay per post or Campaign. When you pay per post, the influencer will post a photo of themselves and mention your brand in their content creation.
But how much do you pay per post?
Well, it really depends. There is no “set price” that you should pay an influencer. Rather, it depends on several factors including:
● Number of followers
● Amount of engagement on posts
● The type of post you want (ie. video, image, etc.)
● Where you would like the ad to be posted
● What platform the influencer is using
There are many ways to find out how much to spend on Influencer Marketing. I've seen some prices go as high as 2K for a small feature in Videos and as low as $200 for Local Campaigns. As a general rule of thumb, you should expect to pay $100 per post per 10,000 followers. Therefore, if someone has 10,000 followers, expect to pay $100 per post. If someone has 20,000 followers, expect to pay $200 per post, and so on and so forth but this is not always the case.
Allow me to give you a ton of insight right, INFLUENCERS DON'T KNOW HOW TO PRICE THEMSELVES! You heard that right, you can find some really good deals, just make sure that you are finding someone who fits your Brand so there won't be a disconnect. For example. A Makeup Artist pushing Mechanic Tools.
Shopping on Instagram:
While the world of social media influencers has already taken off drastically in the past few years, there seems that there is now, even more, to be excited about! As of recently, Instagram added a new “checkout” feature that allows you to shop for and buy products directly on the app! This means that when you hire a social media influencer, their followers no longer have to leave Instagram to purchase your products. Rather, all they have to do is click on the link in the feed, and they can purchase your products right there on the spot!
By giving people the option of buying immediately, it's expected that influencer sales will increase even more! What does the future look like for social media influencers? There’s one thing we’re sure about and that’s the fact that social media influencer marketing isn’t going anywhere anytime soon. Where will it lead in the future? We’re not sure - but we’re definitely excited about it!
Need to use Influencer Marketing in your 2021 Strategy? Message us today. Alamo Digital Agency has worked with a lot of local influencers that we have incorporated in our Digital Marketing Strategies in McAllen, Tx.
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