Why Use Influencer Marketing?
Influencer marketing is anticipated to increase to $13.8 billion in 2021, according to our poll respondents. Ninety percent of our respondents believe influencer marketing is an effective kind of marketing.
Influencer marketing strategies are expected to increase in 2020.
For every $1 invested on influencer marketing, businesses make $5.20.
In the coming year, 63% of marketers plan to boost their influencer marketing budget.
In the coming year, 84% of businesses plan to work with a social media celebrity.
Why Is Instagram the Best Platform for Influencer Marketing?
Now comes the key question: why Instagram? Why not use Facebook, Twitter, YouTube, or another social networking site? Isn't influencer marketing just as effective with them? Although these other sites are useful for influencer marketing initiatives, none of them compare to Instagram.
Instagram is a wonderful medium for marketers to reach their target demographic, with 1.3 billion monthly active users. Although the user base isn't as vast as Facebook's, it is far more engaged, making it a more effective means for marketers to get their word out. We looked at over a million influencer accounts on the most popular influencer marketing platforms and discovered that Instagram had the greatest interaction rate of any social media network.
Another noteworthy fact is that products appear in 65 percent of the top-performing Instagram posts. This reveals a lot about how users react to sponsored posts on the network. The audience appears to have no qualms with interacting with postings in which other users (read: influencers) promote things. This is especially true in Instagram's most popular genres. Fashion, for example, accounts for 25% of brand interactions on Instagram. In 2019, Fashion Nova spent $40 million on Instagram influencers alone.
Getting Started with Influencer Marketing on Instagram
As a result, if Instagram Influencer Marketing is such a good medium for dealing with influencers, it's a good idea to start using it for your influencer marketing efforts. And here are a few things you should think about before launching your campaign:
Clearly define your objectives and key performance indicators (KPIs):Before you begin a campaign, you must be certain of one thing: what you intend to gain from the campaign. It's critical that you respond to this question because it will serve as the foundation for the rest of your campaign.
What are the objectives of your campaign? Do you want to make your brand more well-known? Do you wish to publicize a new product? Do you want to increase the amount of traffic to your website? Do you want to boost your sales?
You're probably aware that you have prospects at various phases of the marketing funnel. Some consumers are already searching to buy a product similar to yours and only need a little shove in the right direction. Others will be near the top of the funnel, potentially uninformed of your product's existence and surely not in the market to buy it right now. Finally, there will be a third group that will fall somewhere in the middle of these two extremes.
You can legitimately set a goal of increasing sales for individuals near the bottom of the funnel, and work with influencers to help you achieve it. However, for individuals near the top of the funnel, your objectives should be more focused on product and brand awareness.
Whatever your final aim is, you must clearly identify it in order to know how to proceed with your campaign. Furthermore, having a clear target in place can help you choose which performance measures are important for the campaign. For example, if your goal is to increase brand awareness, measures like reach, impressions, and engagement are important.
However, you should also look at how your competitors track their marketing results. This will give you a better sense of the types of metrics you should think about employing.
Make an Instagram influencer marketing budget:Before you proceed any further, make sure you have enough money put aside to cover the cost of your influencer marketing strategy. Don't count on influencers to agree to work for you in exchange for free or reduced goods.
Influencer marketing is a legitimate form of marketing, and as such, it requires the same level of planning as other forms of marketing. Your budget will determine which types of influencers you may approach for your campaign, as well as whether you can realistically hope to achieve your objectives.
What Does it Cost to Hire an Instagram Influencer?
The price you must pay an Instagram influencer is mostly determined by their level of fame and influence. Many of the world's most well-known corporations have collaborated with celebrity influencers, and have been ready to pay hefty sums for the opportunity. Hopper publishes an annual Instagram Richlist in which he attempts to distinguish between influencers and celebs. Expect to pay up to $1.5 million each post for big celebs like Cristiano Ronaldo, Dwayne Johnson, Arian Grande, and Kylie Jenner.
However, unlike superstars who have achieved popularity offline, most influencers have made their name on Instagram and other social media platforms, and as a result, have large social followings. Top Instagram influencers demand more acceptable fees, yet they are still out of reach for most small and medium-sized enterprises.
Most firms, on the other hand, work with micro-influencers. These individuals with a sizable online social media following have earned a reputation for having a laser-like focus on a specific subject or area of expertise. There is no specific description of the size of a micro-following, influencer's therefore opinions differ. However, we may generally conceive of micro-influencers as someone people consider an expert in a subject, with between 1,000 and 50-100,000 followers. According to Hopper's research from 2021, high-quality micro-influencers charge between $100 and $500 each post.
Find the Right Instagram Influencers
The first step in using Instagram influencer marketing is to discover the ideal influencers who are well-known in your specialized sub-niche. Using Instagram influencers that are already well-known in your niche will enhance your chances of making sales because their following are already interested.
Being as specific as possible when creating an audience is one approach to improve your chances of achieving a strong ROI from Instagram marketing. If you operate an online company that offers formal shoes, for example, you might want to target influencers that specialize in professional footwear for men rather than influencers who specialize in men's fashion in general.
Choose hashtags and keywords that your target audience would be interested in, then look for posts with a lot of likes and comments to see who has the most power and reach.
This part of Instagram marketing can take a long time. To locate influencers who are a good fit to express your brand's narrative, you may have to sift through a lot of posts and hashtags. However, it is worthwhile to devote attention to this stage in order to do it correctly. You may have a really good time if you identify the right Instagram influencers who cater to your unique target demographic.
Form a Partnership
It's time to reach out and build a partnership with the ideal person for your Instagram campaign once you've found them. This is an important aspect of your Instagram marketing plan in the long run. If an influencer's followers notice that they're constantly endorsing the same thing, they'll be more likely to trust (and buy) it.
Instagram influencers usually have an email address in their bio that you may contact. They'll normally be ready to collaborate with entrepreneurs whose products coincide with the type of material they post on their feed because there's usually monetary reward involved. It's a mutually beneficial connection.
When forming a partnership, there are a few factors to bear in mind.
To begin, send them a brief that includes details on the type of content you'd like them to post. Influencers prefer to have creative license when it comes to publishing material, but you should offer them a rough sense of what you're looking for.
Measure Results When Marketing on Instagram
It's critical to have a robust framework in place to measure results before you launch any campaign.You can request that influencers include the link in their profile as well as in image/video descriptions. You can see just how much traffic they're driving to your page using this method.
Putting It All Together in Instagram Marketing
Instagram marketing has proven to be useful for ecommerce businesses. If your product has a lot of aesthetic appeal, Instagram has the potential to make you a lot of money.
Organically growing your Instagram following should surely be a part of your Instagram marketing strategy. Because this is a long-term strategy, you may speed things up by using Webstagram searches, IconoSquare to plan articles, and stealing followers from competition.
Using the audiences of influencers is one of the simplest ways to grow a huge following on the platform. We've discussed what an Instagram influencer is and provided some techniques and considerations for influencer marketing in this post.
Instagram influencer marketing is one of the most beneficial investments that any new ecommerce business owner can make. Try it out, and you could find it to be a wonderful strategy for developing your ecommerce business and building your brand.
Conclusion
One of the most effective dropshipping marketing tactics is Instagram Influencer Marketing. You can possibly make thousands of dollars overnight by exploiting the power of influencer marketing.
And, as you've seen, Instagram has a diverse range of influencers. You can find influencers in any niche, and you can even look at what entrepreneur influencers are doing on Instagram to see how you can apply their techniques to your own company.
If you're not using Instagram influencer marketing to promote your business, you're missing out on a great opportunity. It's one of the most effective ways to spend your marketing dollars, and it'll be over before you know it.
