With over 700 million monthly active users, Instagram is now the most successful social media networking app. To many companies, however, those 700 million users are potential customers that must be reached.
What is Instagram Influencer Marketing?
70% of Instagram users have searched for various companies and brands on the platform and the same percentage actually want to consume the content they find. For this one reason, marketing on Instagram can be extremely effective for your business.
Instagram influencer marketing is the process of marketing products, brands, or services through individuals on Instagram who can influence their followers’ purchase decisions.
Think about word of mouth publicity, and then imagine the same process happening through pictures being shared across Instagram. The people sharing these pictures to promote a brand or product are called influencers. An influencer can be anyone with the ability to sway consumers and convince them to act.
How Beneficial is Instagram Influencer Marketing for Businesses?
Instagram influencer marketing is rapidly becoming a major marketing process for the following reasons:
- Instagram has close to a billionusers globally. This provides a greatplatform for marketers.
- Instagram Influencers are well trusted andcanexpand a brand’s reach exponentially.
- As of April 2017, Instagram has over 700 million* monthly active users.
How do you build an Instagram influencer marketing strategy?
The process of creating and subsequently launching a successful influencer marketing or micro influencer marketing strategy across Instagram has 5 basic steps that must be covered:
1) Identify a target market
Before you choose someone to be your influencer, you must identify the target market. Once you know the demographics of your target market, look for influencers who have a reach that aligns with that target market.
2) Locate top influencers
Once you’ve identified and narrowed down the list to a few influencers that have a similar reach as your target market, make your pick! Always remember, having more followers does not necessarily mean having an increased reach. Therefore, be precise and pick the one who has a concerted and engaged following.
3) Set targets
Once you’ve chosen your Instagram influencer, it is time to convey your Instagram marketing strategies to them. Make sure you set quantifiable targets so that you can easily calculate the influencers’ ROI and engagement rate.
4) Monitor your influencer marketing strategy at every step
It’s important to see whether they are driving enough engagement in their posts or not. I have seen thousands of users who have a high number of followers but a very low engagement rate. A higher engagement rate typically spells out a wider reach and stronger influence.
5) Evaluate the performance and return
Finally, you will need to ensure that the investments you’ve made in an Instagram influencer marketer are paying off. Measure the social media ROI to determine your total spending on the campaign and total conversion or revenue generated within a fixed duration.
It is important to closely track your performance when launching an Instagram influencer marketing program. Remember to make minor tweaks and experiment with different ideas to find what works best for you.
With almost half a billion people on the platform, Instagram is a straight-up marketing platform that, if utilized well, can boost sales and brand value.