“The boom in social media growth has led to the origin of the influencer marketing industry which is expected to take up a $5-10 billion share of advertising by 2020.”
Out of various social media platforms, Instagram influencer marketing, specifically, has taken the universe of social media by storm.
This popular platform has a large audience base with 700 million monthly active users and a weekly active user base of 200 million subscribers on Instagram Stories alone, contributing a huge amount of content every day.
The Instagram app provides the perfect space for a brand ambassadorship, with influential users genuinely recommending specific products and services to loyal audiences.
In this simple guide, we’ve compiled everything you need to know about becoming an Instagram influencer, and how it works?
What is an Instagram Influencer?
An individual who has established a large and engaged base of followers who idolize and respect his or her opinions on Instagram is regarded as an Influencer.
A large number of influencers around the world have acquired a strong base of loyal followers due to their lifestyle, job, hobby, clothes or the stories they tell.
Such a vast and diverse pool of Instagram influencers has opened up huge opportunities for companies seeking a specific demographic to market their products authentically to their target audience.
How does Instagram Influencer Marketing work?
Influencer marketing makes brands feel much more authentic than traditional advertising to reach their target audience.
Instead of direct selling to customers, companies are building relationships with influencers who can sell products for them.
Instagram influencers provide a strong and loyal base of followers, so when an influencer recommends something, they would listen to it as a friend.
That’s why many celebrities are now using Instagram influencer marketing to earn millions from a single post.
The total amount an influencer can charge per post from a company may vary depending on the number of followers, engagement rate, and type of industry.
Here, Engagement rate = total no. of comments and likes / no. of followers
An influencer may charge for a single post and for whole stories to promote a brand campaign.
Although you may find a range of bigger and smaller influencers on the market, influencers with relatively smaller following (up to 10,000) have a high rate of engagement on their posts.
It is, therefore, much better and more cost-effective for smaller companies to approach small-influencers who have a good deal of impact over a particular crowd.
A big-budget company, however, can think about bigger influencers. But they should predominantly focus on engagement rates rather than being fooled by vanity metrics of a number of followers.
In March of 2019, Facebook, the parent company of Instagram started testing when an influencer submits a post, the brand can now turn the post into a paid as in the Facebook Ads Manager.
So What is the Future Scope?
Influencer marketing space is obviously a powerful marketing force which is expected to expand to $5-10 billion by 2020.
Instagram Influencers are posting 150% more sponsored content then 1 year ago.
So, it not surprising that Instagram users around the globe have started to make a living from paid articles and cooperative marketing campaigns.
In contrast, consumers are now becoming social media savvy and immune to marketing, and it’s no different from Instagram influencer marketing.
As the marketing industry becomes increasingly focused, brands and influencers will need to think outside the box to continue creating highly engaging marketing campaigns.
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