Influencer marketing isn’t a new term anymore in the marketing industry. Many brands are fully taking advantage of the new trend as it turns completely away from the traditional marketing. Especially, if your brand target audience is in the age range of 12 to 45 years old.
Alternatively, this is a cheaper and creative way for upcoming brands to promote their products or services without having a mega marketing budget. Influencer marketing, most especially on Instagram: the biggest platform to reach a young audience now is in fact a must add to your business strategy regardless if you are a start-up or established brand. So, how do you execute a successful influencer marketing on Instagram?
Remember our post on how to select the perfect influencer to work with for your influencer marketing? Well, now you are probably wondering how much influencers actually asked for marketing on Instagram.
HOW MUCH DOES INFLUENCER MARKETING COST ON INSTAGRAM:
Well, we can’t answer this question unfortunately as every influencer has theirs on individual prices which don’t apply to all even if they have the same numbers of follower on Instagram. The most important thing to know while setting a budget is: what are you really trying to achieve with the collaboration or campaign?
If you are looking to get high engagement and increase your sales, it might be best to approach micro-influencers (Smaller influencers) as they usually are very close to their followers and any recommendation from them is taken seriously just as a family to family or friends recommendation.
But if you are looking to boost your brand awareness or get more followers on Instagram, you might want to consider bigger influencers who have very high numbers of followers.
So, this should give you an idea of how much to budget as a brand. And the best way to determine your budget is by emailing influencers for their rate card or contact TBP admin at: firstname.lastname@example.org [We offer influencer management service – contact us for more details]
QUICK WAYS TO DETERMINE THE RIGHT INFLUENCER TO WORK WITH ON INSTAGRAM:
- STYLE: It is very important to make sure an influencer style is compatible with your brand image. For example, sending hair product to a food blogger might look right because they probably have the following. However, you need to keep in mind that majority of their followers are probably interested in food which means, your hair product review/sponsored post might go unnoticed or have little to no engagement at all.
- ENGAGEMENT: Although with the NEW Instagram algorithm, engagement has drastically dropped, however, you can still go through their feed to check out old posts engagement. It is advisable to follow a particular influencer for a while to monitor their profile before finally approaching them for a collaboration. This will give you time to better understand them and how they engage with their followers.
- FOLLOWERS: This part, followers don’t really mean numbers but the quality of their followers. Unfortunately, many influencers are inpatient these days to grow their following organically, so, it is beneficial to you as a brand to check the quality of influencer followers before emailing. Click through some of their followers profile to see who they are and most especially where they are located.
- BUDGET: No matter how little follower an influencer have, it is important to set a budget aside for them. After this is why it is called influencer marketing and not “Influencer charity“. Many influencers need to pay for web hosting yearly, gadgets (Camera, lights etc..), photographer or videographer. As much as your product is great, you need to put all these into consideration. Do not automatically expect all influencers to work for product exchange only. Although in some cases, you get influencers work in exchange for products only. Like we said, it’s all personal choices.
Having a little budget does not only show that you are being professional with your brand but also shows that you respect their work. You don’t have to start approaching influencers with 40K followers. why not start with smaller influencers?
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