Though Facebook is the largest social media network, it is Instagram which has the most engagement with its users. For every 1,000 followers, Instagram has an engagement ratio of 29.67 while Facebook comes second with 16.54. This is according to a study conducted by TrackMaven.
It comes as no surprise that it is Instagram where your marketing efforts will see the best results. Social media influencers, too, second this. A study showed how 59 percent of social media influencers have found Instagram to be the best medium for engaging with the right target audience.
Why does your business need Instagram Influencer Marketing?
Instagram is the quickest way you can reach your target audience. For every 100 views of any post, 3.21 people on average engage with it as against just 1.5 for other social media networks on average.This makes instagram a much better engagement medium with audiences than most other networks.
People see Instagram as more trustworthy than other social media as they trust their Instagram influencers. Instagram users see these people as role models and friends- the stuff they promote is seen as worthy of a recommendation.
This trust placed on the influencers is what you can tap- in a way, this gives you direct access to your target audience.
That’s why many brands hire Instagram influencers relating to their niche to make a great impression on those customers who matter.
When the influencer is consistent with his posts in your niche, his followers look to him as a genuine authority who knows which products/services can impact their lives.
How Instagram influencer marketing is value for money
A study has suggested that influencer marketing gives 3x the Return on Investment (RoI) with almost 50% cost savings.
Of course, this varies, but what makes an Instagram influencer marketing campaign successful is the right mix of big, medium and small influencers who cover most of the target audience.
In fact, many companies pay up to $1000 per post to micro and small Instagram influencers to promote their brand to the relevant target audience. Many companies spend their marketing budgets based on how many followers they intend to target using the right mix of Instagram influencers.
How to execute your Instagram marketing campaign?
This is simple- link it to the goals your company has set. It is not necessary to use influencers for directly pitching the product. There are various ways you can use the power of your influencers.
The most common method, here you pay your influencer to create unique posts for your brand. An Instagram influencer-sponsored post can include direct marketing of the product or you can get the influencer to create a series of posts to ensure maximum reach and engagement. A sponsored post is generally the main goal you can use to execute your marketing campaign.
To engage with your audience, you can work with your influencer to come up with a contest where your target customers can get free giveaways if they interact with the post.(Read- participate in contests, quizzes, tagging requirements etc.
You can use your influencers in your content for an extra push. For example, you can get your influencer to create some engaging content for your product or engage in a bit of storytelling with the influencer in question. This is an effective strategy for engaging a new audience or promoting a new product.
Brand representative programs
Your influencer can be made a representative of your brand. You could give them a dedicated discount code which they can share with their followers. For each sale, they could get a commission for their efforts. This would motivate them to give their best in promoting your brand.
How to track the status of your Instagram marketing strategy
The biggest concern for new businesses is how to track the Instagram influencers and calculate the Return on Investment (RoI).
For this, you need to understand how well your Instagram influencer performs, and give them goals to achieve as part of their influencer marketing contract.
You can give them a fixed and variable pay based on the number of conversions, the value of sales, or the amount of traffic that generates from the post to your website landing page,
This way, your Instagram influencer will work not only to create engaging content but will also be responsible for trying to give you crucial leads or sales volumes.
In a nutshell
An Instagram influencer marketing strategy is a more cost-effective strategy than running paid ads online or offline. It gives you a lot of flexibility to change the campaign based on its performance while helping you reach your marketing goal in a personalized way. It would be safe to say this- influencer marketing will surely overtake other marketing strategies when it comes to marketing budget allocation.