If you are already connected with Digital marketing, no doubt that you are familiar with Influencer marketing. And if you are running a business, then you should start working with the Influencer marketing. And Instagram is the best platform to start it. Understand here what should you exactly do & how you can execute to leverage your Influencer marketing efforts on Instagram.
Why Instagram for Influencer Marketing?
A very common question may come to the minds why Instagram? Why not Facebook, Twitter, YouTube, or any of the other social media platforms? The reason is that Instagram is the only platform where you can gain more visibility for your business & you can’t compare other these with Instagram.
With 800 million monthly active users, Instagram is the best source for marketers to reach their target audience.
According to the study of Quintly, Instagram has the highest interaction rate compared to all other social media platforms.
So let’s execute some essential tips before starting your campaigns on Instagram.
Optimize your desired Goal & KPI’s
Before running a campaign, you should think about your business goal or what do you expect to get out of the campaigns. Every business owner has their different types of goal like, what are your campaign goals? Do you wish to raise brand awareness? Do you want to promote a product launch? Do you want to drive more traffic? Or do you wish to increase sales?
A better business goal can help to raise brand awareness, metrics such as reach, impressions, engagement, etc. would be relevant for you. You should need to focus on your competitors how they are measuring the results of their campaigns. This will help you gain a better idea of what kind of metrics you should consider using.
The conclusion of the goal is engagement. Which is the most used metric for measuring influencer marketing performance? Clicks, impressions, conversions, reach, and product sales are also important metrics.
Focus on Optimal Influencer
The second optimization method is to focus on starting the process of defining and identifying your ideal influencers. When have start focus on the ideal influencer for your business, some questions may be coming in the minds such as who influences your audience? Who creates content related to your brand, industry, or products? Who will be able to help you achieve your campaign goals?
Let’s explore some points when defining your ideal influencer:
- Niche – Consider their niche or their area of specialty. Which types of an interesting topic they are covering. This will help to maintain authenticity & create promotional content that doesn’t deviate from their topic.
- Reach – If you want to raise your brand awareness in marketing, a potential influencer would be the best targeting option for you. The micro-influencer would play a vital role to drive the engagement for your brand/business.
- Voice – Have a transparent plan regarding the sort of voice you ideal influencer ought to have. Would you wish them to be casual and friendly? Perhaps you’d value more highly to work with an influencer with an honest sense of humor? Think about all of this supported what your audience would love.
- Engagement Rate – If you are optimizing your campaigns, make sure your potential influencers are getting significance engagement for your business. If you are unable to optimize your business engagement rate, use Instagram Money Calculator to find out the average engagement rate of potential influencers.
Decide on a Collaboration Structure
Once you have decided which influencer is going to work with, you will need to collaborate with them.
See some factors where you can negotiate with your influencers.
- Campaign Timeframe: Under this, you need to do a better communication with your influencer regarding the deadlines campaign time frame.
- Content Production: For content, make sure you have an agreement on what your expectations from the influencer to produce for the campaign. What type of content do you need from them? Are you in need of Instagram featuring your product with a brand mention? You should communicate with it beforehand, whatever your expectation is.
- Content Usage Rights: This is a very crucial consideration, right to content usage after the campaign. If you are making a plan to repurpose the influencer’s content in various forms like social media ads, website testimonials, etc. it’s crucial that you request full content usage rights while the influencer retains ownership.
- Compensation: There is another concern of allowance, which numerous brands and advertisers neglect to consider completely before starting their Instagram influencer promoting efforts.
- Some influencers may be agreed to advertise your products in exchange for free products, but you should avoid taking this for granted. You should always be ready to make some budgetary payment when you are working with the influencers.
- FTC Adjustments: A recent news of FTC is that “Federal Trade Commission staff recently sent out more than 90 letters reminding influencers and marketers that influencers should clearly and conspicuously disclose their relationships to brands when promoting or endorsing products through social media.” Therefore, you need to ensure that you completely understand the guidelines & provides the correct information to your influencers on how they can follow them.
What is the actual cost of the Instagram Marketing?
This is the very tough question in the industry & this will come down to who you want to partner with and the size of the project. Now some of the micro influencers still willing to exchange free products for promotion space on their profile, today’s biggest Instagram influencers are charging major bucks to create posts for brands as their accounts have become their main source of income.
There is no prediction about the cost of the Instagram marketing, but if you want to work with the influencers in the 100k+, there are lots of factors comes in the mind like the scale and scope of the partnership or the number of sponsored posts and stories you require?
Micro-influencers, on the other hand, tend to charge closer to $300 per Instagram post, and nano-influencers charge even less.
Top Instagram Influencers
Want to know what an Instagram influencer is, let’s see the top 10 most followed influencers to give you an idea of the current Instagram landscape and to help you understand what kind of content is being consumed the most.
- Cristiano Ronaldo
- Ariana Grande
- Selena Gomez
- The Rock/Dwayne Johnson
- Kim Kardashian West
- Kylie Jenner
- Leo Messi (Lionel Messi)
- Taylor Swift
These are some valuable fundamentals components and tips that can help you effectively execute your first Influencer advertising effort on Instagram.