If you’re looking to boost your brand or business on Instagram, influencer marketing can be an excellent way to connect with engaged and relevant audiences.
Well, consider the following:
• 87% of Instagram users have taken action after seeing a product on the app.
• Instagram is the most important influencer marketing channel.
• 500,000 influencers use Instagram as their preferred or only channel of influence.
But what exactly is influencer marketing, how much does it cost, and how can you incorporate it into your Instagram strategy?
Keep reading to find out how to successfully work with content creators, boost your reach and make more sales.
What is Instagram Influencer Marketing?
Instagram influencer marketing is when brands collaborate with users that have the power to influence the purchasing behaviour of their audience.
It’s like advertising your product on a billboard or running an ad in a magazine.
…There’s only one big difference.
Influencer marketing is more personalized, niche, and cost-effective.
Instead of spending thousands of dollars on a print ad, you can collaborate with an influencer who already has the attention of your target audience or niche.
It works so well that 51% of brands say influencer marketing helps them acquire better customers.
But what makes influencer marketing so successful?
Creators and influencers build a loyal following of users who trust their expertise, opinions, and recommendations. When you consider users ignore 86% of ads, sponsored content and influencer marketing is one of the best ways to fight ad blindness, reach a new audience, and increase your brand awareness.
3 Benefits of Instagram Influencer Marketing
Is Instagram good for influencer marketing? Yup!
It’s one of the best platforms to tap into highly engaged audiences and make sales.
Here are some of the biggest business benefits you can expect from an Instagram influencer marketing campaign.
1. Increase Sales with Gen Z and Millennials
When you partner with influencers, it’s the perfect opportunity to increase sales.
You’re gaining access to a new community. The creator authentically introduces your products or service, increasing brand awareness and ultimately generating sales.
…And it works!
According to a study by Hubspot:
• 33% of Gen Zers have bought a product because of an influencer’s recommendation.
• 26% of Millennials have bought a product because of influencers on Instagram.
2. Create Powerful Social Proof and Brand Awareness
The power of influencer marketing doesn’t come from cinematic footage and crisp b-roll.
Its strength lies in word-of-mouth marketing.
Think of it this way.
If a brand is pushing ads in front of you all day about how amazing their product is, will you believe them?
Probably not. Only 38% of users trust branded content.
But if an influencer who you know, like, and trust tells you why they love a product, you’re more likely to give the brand a chance.
It comes across as a vetted recommendation from a friend, not a pushy ad from a brand you don’t trust.
That’s not all.
3. Long-Term Relationships
Heard about the rule of seven?
It’s a marketing concept that says: ‘A person needs to see or hear an ad seven times to have enough information to make a purchase.’
Here’s how Instagram influencer marketing fits into the mix.
When you start working with influencers, aim for long-term partnerships. It increases credibility with the influencer’s audience, and people associate your brand with the creator.
This increases trust and allows your business to hit the rule of seven out of the ballpark.
How to Choose The Right Instagram Influencers for Your Next Campaign
Here’s the thing.
Not every influencer is a good fit for your brand.
You’re looking for the perfect mix of synergy and a creator who ticks the 3 Rs of influencer marketing.
It’s a set of criteria for choosing the right influencers for your next campaign:
• Relevance: The creator shares content relevant to your industry.
• Reach: The number of users you can reach through the creator’s follower base.
• Resonance: The level of engagement the influencer can create.
While the 3 R’s are important for vetting relevant influencers, you can do a few more things to find a creator for your next campaign:
1. Monitor creators talking about your brand: Go through your tagged posts, comments, DMs and branded hashtags.
2. Monitor who your audience engages with: Browse the following lists of your audience and see if any common accounts are a good fit for your brand.
How Much Do Instagram Influencers Cost?
The truth? It depends.
There is no one-size-fits-all pricing module for influencer-generated content.
It depends on the creator, their reach and engagement, the scope of work, usage rights and the campaign length.
But if you’re looking for a starting point, most brands use the one cent per follower rule.
For example, if an account has 10k followers, a sponsored post will likely cost around $100. But make sure to shop around, gather quotes from multiple influencers and pick the right person for your brand and budget.
The Do’s and Don’ts of Instagram Influencer Marketing
To create an effective influencer marketing strategy, it’s essential to understand the do’s and don’ts of running influencer campaigns.
By following these best practices, you can work with creators to achieve your marketing goals and grow your business.
Be Clear on Expectations
Before reaching out to an influencer, setting your expectations is important.
It will help you avoid any confusion, misrepresentation, and surprises.
Here are some of the expectations you’ll need to clarify in your contract for a successful influencer marketing campaign:
• Payment: How much are you willing to pay? When is payment due? Are you offering additional incentives like gift vouchers, commission or free product?
• Content Deliverables: How many Instagram posts do you require? What format? When is the deadline for content approval? What are the posting guidelines?
• Briefing Materials: What is the goal of your campaign? Do you have a caption guide? What does the creator need to know about your product and explain to their audience?
• Length of Contract: Is this a once-off campaign? Are you looking for multiple posts each month?
• Exclusivity Clause: How long does the creator have to wait before collaborating with a competitor in your niche?
• Sponsorship Disclosure: What are the guidelines for disclosing the paid partnership?
Disclose Sponsored Content
It’s important for both parties involved in Instagram influencer marketing to be transparent about sponsored posts.
As a brand, it’s your responsibility to follow FTC regulations for disclosing sponsored posts on Instagram.
It builds trust with the audience and keeps you out of any potential legal drama.
The most important thing you need to remember for sponsored posts is to make sure the disclosure is instantly obvious.
What counts as clear disclosure?
• It’s visible in the first few lines of the caption.
• The creator is using the paid promotion feature on Instagram.
• Terms like “advertisement”, “ad”, and “sponsored” are used.
• Terms like “sp”, “spon”, “collab”, and “ambassador” are too vague.
Choose the Right Type of Instagram Content
What type of content is best for Instagram influencer marketing?
It depends on your campaign goals and budget.
For example, a simple Story post with a CTA and link to your website is often cheaper than commissioning a Reel.
However, a Story might not be the most effective content format for your campaign, especially if your #1 goal is reach.
Instagram Stories have a finite reach. Only an influencer’s most loyal followers will watch their Stories every day. While that is a positive for a brand, you’re limiting yourself to a smaller audience.
But Reels, on the other hand, are a different story.
It’s the best content type on Instagram to gain exposure. Your sponsored post can go viral and be seen by the influencer’s followers and other accounts on Instagram.
Another thing to consider is your product and service.
If you’re selling sunglasses, conveying your product in a still image is easy. But a video showing how it works makes more sense if you’re selling something more complex, like an eSim for travellers. It makes the service tangible, and viewers can instantly see its value.
Do: Define Your Goals
The first step in your Instagram influencer marketing campaign is to get goals.
To begin, define what you want to achieve.
Are you looking to increase brand awareness? Boost your engagement rate? Drive sales?
Once you have your objective, make sure it’s a SMART goal and consider the metrics you’ll use to measure its success.
For example, if your goal is:
• Increase sales: Track conversion rates or ROI.
• Brand awareness: Track brand mentions, impressions or reach.
• Engagement rate: Track follower count, likes, saves and comments.
By setting specific, measurable, and attainable goals, you can create an effective campaign and see a strong return on investment from your Instagram influencer marketing campaign.
Monitor Campaign Performance
What is the biggest challenge in Instagram influencer marketing?
According to a recent survey, 28.1% of brands struggle with measuring the ROI and results from their campaign.
Without a solid strategy to monitor your performance, it’s hard to identify areas for improvement and keep your marketing goals on track.
So how do you measure ROI for Instagram influencer marketing campaigns?
Here are some key metrics to track:
• Affiliate Links and Discount Codes: Generating a unique link for an influencer helps you track online sales.
• UTMs: The best way to measure the traffic you’re receiving from a specific influencer.
• Brand Engagement: Measure your followers, engagement rates, and branded hashtags.
• Brand Awareness: Measure reach, impressions, and share of voice.
• Earned Media Value (EMV): EMV is the total measure of all exposure from your Instagram marketing campaign. It calculates the average cost per impression, engagement and clicks.
Plann Your Instagram Content Calendar
Ready to harness the power of Instagram influencer marketing for your next campaign?
Whether you gift products or pay for sponsored posts, the right influencer can help you reach new audiences and drive sales.
Remember to set clear goals, track your progress, and adjust your strategy as needed.
The next step? Sign up for a 7-day free trial of Plann Pro and score the all-in-one social media suite you need to grow your brand. Harness a drag-and-drop visual planner, score done-for-you content prompts, leverage thousands of high-performing hashtags and so much more.