Influencer marketing has grown in popularity in recent years and is one of the critical marketing methods on Instagram. Influencer marketing was an estimated $13 billion industry across all platforms in 2021 and is projected to grow to over $16 billion by 2022. Think platforms like TikTok, Facebook and Youtube. Instagram is the fastest growing social media platform for influencer marketing and around 68% of marketing experts turn to the platform for their influencer marketing campaigns.
There is no doubt that every brand and social media agency must take advantage of this special type of marketing to run successful campaigns. Before getting into the nitty-gritty of Instagram influencer marketing, it’s interesting to learn how and why this marketing tactic has become such a viral and integral part of social media marketing.
The Death of TV Ads
As poetic as it sounds, the statement is just as true. Now it is necessary to understand that in this case we are only talking about popularity. Television advertising continues to be of great interest in increasing brand sales. However, according to Zenith, a well-known social media marketing agency, 2022 will be the year that social media ads surpass TV ads. The fact is for us amazing and at the same time obvious.
Advertisers will spend more than $170 billion on social media advertising in 2022 alone. That number is expected to grow to more than $225 billion by 202
, making social media more than 26 percent of all advertising spending. Research shows that B2C marketing is worth more than $15 billion and B2B influencers are catching up fast.
In this era of influencer marketing, Instagram is the most popular platform. Bloglovin conducted a survey talking to over 2,500 micro-influencers who liked Instagram more than any other social media platform. Currently, more than 23 percent of global social media users follow influencers, and Instagram accounts account for more than 60 percent of engagement on the platform. We can conclude that Instagram is the best place for influencer marketing. Instagram has also changed its user interface to give influencers more options to create unique content.
What explains the popularity of influencer marketing?
Influencer marketing takes a step back from the general popularity of brands among celebrities. Most influencers are regular people who have built their following on reviews and products they actually follow.
Television commercials spoke of glory and glamour. The bigger the celebrity, the bigger the sale of the product. To be honest, this trend has not subsided yet. However, Instagram gave ordinary people the opportunity to show the real benefits of a service or product. Viewers would rather follow these influencers than celebrities who are sure they don’t even use the product. Thanks to their raging popularity, brands quickly turned these influencers into their spokespeople.
Given the rapid rate at which some influencers have gained popularity over the years, they are now simply considered celebrities. The dominant trend at the moment is the rise of micro-influencers. These influencers have between 2 and 10,000 followers. Instagrammers value the authenticity of their influencers’ opinions even more than top influencers with millions of followers.
Another important reason for the popularity of Instagram influencer marketing is the dominance of Generation Z on the platform. Global Index research shows that 16-2
year olds visited Instagram more than Facebook as of 2019.
For the target audience, influencer marketing works wonders because the new generation relies on authenticity and customer reviews instead of high-flying advertisements.
How to create an effective marketing campaign for influencers on Instagram?
Understanding these metrics will help you create and execute an effective influencer marketing campaign. It should be noted that results vary by industry. For example, the impact of influencers is greatest for cosmetics, makeup or skin care products. Understanding the core industry is also important to execute an effective campaign.
Let’s start by understanding the costs of influencer campaigns.
Understanding the Costs of Running Influencer Marketing Campaigns.
Influencer marketing campaigns don’t have to be expensive at the same time, the main cost of your campaign depends on who you hire for your brand. When it comes to super influencers like Kylie Jenner, Kim Kardashian, or even A-list celebrities like Dwayne Johnson, costs can skyrocket, but that’s not what we’re looking for. Our main goal is to understand the costs of micro and mid-level influencers.
How to estimate base costs?
A general rule of thumb is to estimate the number of followers and engagement level of the influencer. Hootsuite notes that the unspoken industry standard is $100 for every ten thousand followers. This price is not absolute, as deliveries related to posters, stories and reels also count.
Prepare to negotiate returns. Also consider overhead, logistics and manufacturing costs. Looking at all these aspects will allow you to arrive at a reliable number.
Never forget to budget your campaign
Targeting the right audiences with smoother ads is essential. Allocating your advertising budget will give you an idea of how big your influencer campaign can be. Plus, it gives you the ability to hire multiple influencers if the budget works. Ads are a huge part of influencer marketing and can make or break your campaign. Having the right PPC person or agency is paramount in this situation.
A complete knowledge of influencer marketing will help you run budget and effective campaigns. In most cases, it is difficult for small businesses to take on all the responsibilities. Hiring a social media manager like us can relieve your stress and allow you to focus on your business.