What Makes Instagram The Best Influencer Marketing Marketplace?
Instagram is the right influencer brand platform to start your marketing with and there are reasons to believe so. The average engagement rate of Instagram users is 3.21% but that of other platforms is 1.5%. So, you are likely to get more exposure on Instagram.
Influencer advertising is a must for every business as it works like word-of-mouth. Here your brand will be introduced through an influencer that will create interesting content to promote your brand and Instagram is the right platform to start with.
How much do influencers charge for marketing?
It is one of the biggest questions asked by brands. An influencer is free to determine his fee but the good thing is that influencer marketing companies consider many factors like budget, time involved, and brand value before quoting prices to brands. The good thing is that there is a mix of influencers like stars and micro-creators that are ready to provide free service in exchange for a brand name.
Are there micro-influencers on Instagram?
The availability of micro and nano influencers is the biggest advantage of Instagram. HubSpot found almost one-third of all Instagram creators to be micro-creators with less than 100K followers. And mega-creators are less than 1% of total creators on Instagram. A micro-creator is a celebrity with a small but engaging following. And nano-creators have from a few hundred to a few thousand fake Instagram followers.
Tips for finding the right creators for an Instagram marketing
#1. Consider their engagement rate
Engagement rate is a metric that shows how much attention followers pay to creators. While a 2-3% engagement rate is expected from creators, a 4-6% engagement rate is considered excellent. It shows influencer outreach.
Engagement rate = (Likes + Comments) / Followers x 100
#2. Review the content they post
You can find Instagram influencers with the help of the engagement formula but you need to do more research to make an opinion on a creator. Check the content he posts to understand his knowledge and determine whether he is relevant to your business.
#3. Keep your budget in mind
It is important to keep things simple. You have a fixed budget for social media influencer marketing and you will want to get the service within your budget. It is possible only when discussing your budget with the creators you find suitable.
Track your Instagram performance
Check the engagement rate of your posts and see what people are talking about your brand. Also, check whether influencer seeding has any impact on your website traffic and sales conversions, and revenue generated.