Power of Instagram Influencers: the new gold mine for businesses
You may have seen an Advert promoted by Instagram Influencers? Do you know what powers an Influencer has in this era? Instagram is a top-notch and popular social media platform allowing its users to share pictures and videos. The popular app helps people connect. However, the app is much more than that. With the rising digital climate, Instagram has turned into a million-dollar industry.
Gone are the days when social media was only restricted to uploading pictures and reels. Now, the multi-dollar industry could classify as genuine employment. Yes, that’s right!
With the help of social media, the definition of celebrity has changed drastically. Now Instagram influencers are referred to as celebrities. But who is an Instagram influencer? Well, the name suggests, that a person who sells products or works with high-end brands using their social media handles on Instagram is known as an Instagram influencer.
Out of all other popular social media platforms, including Youtube, Facebook, and Snapchat. Instagram is the most used one. Influencers use it to promote their brands increasing their global fan following.
Did you know Kylie Jenner, a famous Instagram influencer charges $1.2 million per post to promote brands. Yes, Instagram is a profitable platform.
1. Why Do Influencers Use Instagram To Reach Their Audience?
When you think about social media platforms, the first thing that is likely to pop into your head is Instagram. Of Course, the tech platform is much more than a picture and a video-sharing app. The app allows you to follow anyone you are interested in. And so, as a perfect start to market any e-commerce business, influencers use Instagram by putting up posts using or promoting various brands.
It is a perfect way to reach the right kind of audience. Moreover, this also gives an edge to small businesses with limited budgets to reach the audience. No doubt, Instagram helps in e-commerce marketing. Influencers take a massive amount of traffic to the e-commerce store. It makes people reach the order.
Did you know why influencers use Instagram and not any other Social Media app frequently to reach their audience is it because Instagram has higher engagement rates than any other social network? Well, yes. It is not something we say, but the stats predict.
According to the stats, Instagram is 67% more popular and effective in online marketing. The global influencer marketing market net value has increased twice since 2019 and so, the value of the influencer marketing platform continues to increase massively every year.
2. Why Do Businesses Hire Instagram Influencers?
Think about the last product that you have bought? Did you buy it because someone recommended it to you? Or did you google it and found it was the perfect one? Well, there is a chance you might have seen your favorite Instagram influencer promoting and using the product on their profile.
Influencer marketing is at its peak. According to the stats, marketing has reached over 400% in promoting e-commerce businesses. The best part about it is no matter if the brand is big or small, every business can reach its kind of audience.
As more and more businesses take part in modern marketing strategies, they look into ways to increase brand awareness. Ad influencer marketing is a success. Brands collaborate with Instagram influencers and stay ahead of the game. According to the Association of National Advertisers survey, over 75% of markets use Instagram influencers as a marketing strategy.
3. How the Adverts Marketing Budget Transitioned from Traditional Media to Social Platforms?
When it comes to marketing, businesses use every ounce of their energy to think about how to reach the audience. And so, when the world has transformed into a global village. Using a traditional method to promote the business is not the right way. As change is stationary, so is marketing.
Although, traditional media had been helpful to promote business and give exposure for decades. However, in the twenty-first-century businesses use modern marketing strategies like Influencer marketing and product placements for brand awareness for more effective outreach to a global audience. On an average scale, a business company spends over 13 percent of its annual revenue on marketing.
4. How Do Businesses Find the Influencers?
Finding the right kind of Instagram influencers is a challenging task. With expanding pool of Instagram Influencers not all influencers can deliver the desired results. Businesses have to invest in various social media tools that provide various data points about influencers and their followers e.g. Engagement per post, Audience Demographics, Video Viewed time and etc.
Once they have a shortlist of Influencers the marketing/PR team reaches out to these influencers for their fees and how they would like to partner with the business followed by negotiating the KPIs.
These days Instagram influencers are categorized based on the number of followers (Discussed below).
Type of Instagram Influencers
Instagram Influencers are divided into several categories, including mega influencers, macro-influencers, and mid-tier. The mid-tier influencers have 50k to 500k followers.
5. How Much Do Instagram Influencers Charge for Sponsored Post?
How much do influencers charge for sponsored posts depending on the type of influencer? As influencer marketing is on the rise, partnering with influencers to spread brand awareness depends on their following.
On average, social media influencers charge between $80 to $3000 per post. A micro-influencer charges $85 per Instagram post. A macro influencer charges $280 per Instagram post. The mega influencers are the highest-paid influencers. They charge at least $3000 or over per post.
Looking to be a Social Influencer? Tried and failed before or looking to dominate the social media. Read this How to be a Social Influencer and Dominate the Game?
