Are you tired and bored of seeing the same stats on your Instagram Insights week after week? Well, we are pretty much aware that content is key, but aside from creating content of high-quality, and engaging with your audience, you also need to look and feel the trend in social media marketing. Have you tried reaching out to social media influencers?
Now is the time to pull out the digital marketing strategies that you have in the bag. The clock is ticking. Every second delayed could cost you a sale or a desired conversion. If you’ve been thinking of trying influencer marketing strategies before, but for some reason, those plans didn’t actualize, then, you have to do it now.
However, before you do that, let us first share with you what you should know about Instagram influencer marketing.
What is Instagram Influencer Marketing?
In its early days, there were just a few influencers, but it’s way different this time. The influencer marketing industry is set to grow to about $9.7 billion this year (2020). And nearly 90% of all of these influencer campaigns use Instagram (Influencer Marketing Hub).
In its simplest definition, Instagram influencer marketing is the use of Instagram influencers to reach your goals – increase brand awareness, boost your account’s engagement rate, introduce your products or services to your target audience, and increase your sales or meet your desired conversions.
How does the partnership work? Your chosen influencer will create a branded content that he (or she) will share on his feed, Stories, or in whatever format that both of you decide. The budget will also depend on what type of content you will require. And these days, you couldn’t really expect influencers to accept a free product in return for a premium real estate space on their account.
Why Would You Want to Work With Influencers?
You could pretty much focus your marketing budget on creating amazing content and running ads across all of your social media platforms, so why would you want to work with influencers?
One of the strongest reasons why influencers are important to brands is the fact that they have highly-engaged followers. And second, their followers are streamlined in accordance with their niche. Influencers can be the usual Instagram users with an extraordinary amount of following and credibility. They’ve earned their status because of the high value that they give to their audience.
By working with influencers, you are letting your brand be introduced by a highly-respected person to his engaged followers. You just have to be sure that the influencer that you choose is relevant to your brand. Nonetheless, you don’t need to find an influencer who has exactly the same niche as yours. It’s enough that your target audience has similar or intersecting interests as yours.
How to Find the Right Influencers on Instagram?
Finding potential influencers to work with may be tricky, but setting clear goals for your campaign from the very start can help a lot. For instance, if you are trying to boost your brand awareness, look for an influencer who has high traffic and reach. But this could also mean partnering with someone who has in the hundreds of thousands of followers.
If you are a small business, it’s a sound choice to work with micro-influencers or those with around 1,000 to 10,000 followers. And besides, it’s better to look for an influencer with a high engagement rate because that’s what the Instagram algorithm favors. So, if you have a bigger budget, you can consider partnering with three or more micro-influencers, rather than just working with a single influencer with a much bigger reach.
To calculate the engagement rate of an influencer, you can simply divide the average number of likes and comments on their posts by their number of followers, and multiply that by 100 to get the percentage. But of course, you can also ask the influencer to send you a screenshot of their insights tab, or you can also resort to third-party tools like Fohr.
Moreover, even if you are just eyeing someone with less than 10,000 followers, you should also check that their followers are authentic. These days, it’s really tempting to buy fake followers to appear credible in the eyes of an unsuspecting audience. As such, it’s crucial that you know how to spot real influencers from fake ones.
Measure the Performance of Your Influencer Marketing Strategy
While the engagement rate of the sponsored posts matter, you can also look beyond this metric and look for bottom-funnel metrics such as sales, conversions, and traffic. You can do this by putting conversion tracking systems such as affiliate links.
And since Instagram doesn’t allow or enable links in the posts, you can ask the influencer to share the link in his bio. This is where the influencer can say the common text, “See link in bio,” in the caption of their branded content for you.