The Ultimate Guide to Instagram Influencer Marketing in 2021
Unless you are living under a rock, you must be familiar with the concept of influential users promoting brands and products. There is no time better than now if you are planning on using Instagram influencer marketing for your business. In 2021 marketing through Instagram influencers is foreseen to be one of the most effective ways of taking your business to the zenith.
Adding Instagram influencer marketing to your overall strategy for this platform can help increase brand awareness, drive significant sales, and grow your follower base.
You might be wondering how your brand or business can work with influencers on Instagram. We are here to articulate every minute detail about 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 going to work for you.
Before you work on a feasible Instagram influencer marketing strategy, you need to know what is influencer marketing and why your business needs it.
Influencer Marketing: The Basics
There is no denying that Instagram is the most engaging social media platform. Statistically speaking, Instagram uses the most interactions on average per post, per 1000 followers. The average engagement ratio is 29.67, while Facebook is around 16.54 per 1000 followers.
And if you have spent even a few minutes on Instagram, there is an excellent chance you’ve come across an influencer post. Influencer marketing is on pace to become an 8 billion dollar industry in the next year.
What is Influencer Marketing?
It is the type of social media marketing strategy that focuses on using key leaders to drive your brand’s message to the broader audience. Instead of marketing directly to a large group of consumers, you inspire, hire, or pay influencers to spread the word.
This strategy goes hand-in-hand with social media marketing and content marketing. Though social media and content marketing often fit under influencer campaigns, they are not synonymous with influencer marketing.
Before we dive straight into how to do Instagram influencer marketing, what makes this strategy so effective?
What makes Influencer marketing so effective?
Instagram influencer marketing removes the barriers of traditional advertising because customers are introduced to your brand from a trusted source on an authentic, casual platform. When an influencer recommends a product or service on their channels, it can be compared to a trusted recommendation from a friend. This is incredibly advantageous to brands as it gives them direct access to their target markets for a fraction of what they would generally pay for a traditional ad.
Place your business in front of people who are interested in your products or services by partnering with relevant influencers. Choosing the right influencers who have an engaging, authentic voice is one of the most challenging tasks of running a successful Instagram marketing campaign.
Authenticity and consistency are key
When an influencer is constant with a niche market, for instance, cruelty-free cosmetics or vegan workout supplements, their followers will hold that the influencer is an authority on that topic. They will eventually grow to trust and be guided by their recommendations.
This extensive Instagram influencer marketing guide has every detail to assist you in running a successful campaign.
How much does Instagram Influencer Marketing Cost?
This is one of the most prominent questions in the industry; it all comes down to the size of the project and who you want to partner with.
Long gone are the days when rising social stars would take on brand partnerships in exchange for a free product. When there are many micro-influencers still willing to exchange free products for space on their profile, there are still many influencers out there who charge major bucks to create posts for brands. Their accounts have now become their primary source of income.
Statistically speaking, influencers report charging as much as $5,000 to $10,000 per sponsored post. Social media influencers have become an indispensable asset for brand campaigns.
But the real question is ‘How do you come up with a fair price when there are a plethora of factors to consider?’
You may have to pay more for your posts if you want to work with influencers in the 100,000 plus followers range. A rate of $1,000 seems to be the average price per Instagram post. We got to know this when we spoke with large influencers. If we talk about micro-influencers, they tend to charge closer to $300 per Instagram post.
Unfortunately, there is no one-size-fits-all answer when it comes to how much Instagram influencer marketing costs. There are a plethora of factors involved that go well beyond an influencer’s number of followers.
Why use Instagram for influencer marketing?
There are a plethora of reasons why you should adopt marketing through Instagram influencers.
- Massive reach
Instagram is undoubtedly one of the most popular social media platforms in the world. According to many research reports, Instagram is the second most popular social media platform after Facebook.
- High engagement rate
There is no denying that Instagram is the most engaging social media platform as well. The average engagement ratio is 29.67 while Facebook it’s around 16.54 average interactions per post, per 1,000 followers.
- Influencers’ choice
As influencers prefer Instagram, it has become the best platform for executing your influencer marketing campaign. 5.9% of people who use this incredible platform claim that it is the most effective platform to engage their target audience.
How to find the right influencers
Finding the right influencers is one of the most challenging steps in influencer marketing. You need to be clear about what you are looking for in an influencer if you wish to overcome this challenge.
The influencers you choose should be relevant to your brand and campaign. They should have the significant reach you require depending on your campaign goals. Once you define your ideal influencer, it will be easier to narrow down the best influencers for your brand from a list of potential influencers. Here are a few tips for finding potential influencers.
- Search for branded hashtags
Looking for influencers who are already creating content about your brand and are your avid followers is the first step to finding the right followers. Then conduct a search using a branded hashtag so you can find relevant content created about your products. Finally check the users who have created these posts to look for potential influencers.
- Search for relevant hashtags
If you are not satisfied with the results from the previous tactic, or if you are not an established brand yet, search for relevant hashtags. Examine the results and the accounts of users who have created the content that appeals to you.
For instance, you are a brand that wants to promote a new line of ingredients. In such a case, you would ideally be working with foodie influencers who can also cook and implement your ingredients into their recipes.
- Use the right tools
The use of influencer marketing tools to simplify your search is one of the best ways to find the right influencer. These tools will enable you to get a list of potential influencers based on a relevant keyword or category.
How small businesses can leverage Instagram influencer marketing with micro-and nano-influencers
Influencer marketing may have grown in popularity but you don’t need thousands of dollars to cash in. Almost one-third of Instagram channels are micro-influencers with fewer than 100,000 followers. Mega-influencers, with over 5 million followers, make up less than 1% of all influencers.
What exactly are micro-influencers and nano-influencers?
A micro-influencer is someone who has a 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 only a thousand followers.
How to track the success of your Instagram Influencer marketing strategy
This is one of the most significant questions asked by businesses that are just getting started with Instagram influencer marketing. To develop an effective influencer marketing strategy for your business, understand how your influencer marketing campaigns perform.
According to recent research, 79% of businesses measure the success of their sponsored posts by how much engagement they receive. As more businesses realize Instagram’s capacity as a sales and customer discovery platform, we expect the focus of influencer marketing campaigns to change as well.
This is sure to reflect in the way businesses track the success of their Instagram influencer marketing. While engagement took priority in the past, in the coming years businesses are going to focus on bottom-funnel goals like sales, traffic, and conversions.
Wrapping it up
Both small and big brands are sure to harness the power of Instagram influencer marketing in 2021 to get their products in front of new audiences and use Instagram marketing to make more sales.