Over the period leading up to 2018, influencer marketing has outpaced organic search as the best customer-acquisition technique. A Keller Fey Survey showed an influencer is more likely to influence 82% of consumers to take the desired action as compared to an average person (73%). However, many marketers and businesses are still wondering how to choose the right Instagram influencer for business.
Still, social media influencer marketing is turning around $6.50 per $1 invested—which is a higher ROI than a slew of other digital marketing methods.
Looking for a valuable instagram influencer marketing checklist? We’ve got you covered.
Finding the Right IG Influencer for You
Here are the factors you’ll need to consider to ensure a successful influencer marketing campaign that turns a healthy ROI for you.
1. What is your “Why”
The first step is to determine what you want to achieve with your influencer marketing strategy. What is your target goal?
You’ll want to answer questions such as:
- Are you looking to raise awareness about a product, service, event, new company or else?
- Are you looking for conversions that lead to sales?
- Are you aspiring to reach new niche markets?
- Are you looking to rebrand hence associate with an influencer’s ideals, cool or else?
- Do you want first-hand reviews?
- Are you looking to promote a discount codes campaign or other promotions?
Such questions will strengthen your resolve and specify what kind of results to aim for. That way you can tell if your partnership is yielding the results you anticipated. The results will tell you if it would be a good idea or reasonable investment to pump in more resources, change strategy, or cut the partnership altogether to find a more fitting Instagram influencer.
2. Consider their Target Audience
Segmenting a social media influencer’s audience will help you decide whether you’ll want to target a particular influencer over another. The first consideration is to ask if their audience blends in or has significant similarities to yours. The more similar they are, the higher your chances of getting their attention and getting a good return on your time and money.
This is one of the most valuable items in this Instagram influencer marketing checklist.
There are some sub-areas you can use to segment an influencer audience. For example:
- Niche: If you are a bakery, the best influencer for you will have content revolving around baked goods.
- Branding: Would you prefer influencers that use high-resolution pictures, 60-second videos or photos+captions? Which branding themes, colors and tone does the influencer use with her/his audience? And would that be a great perception to associate with?
3. Engagement Beats Size of Audience
One of the biggest misconceptions in social media is that larger equals better. Having a larger Instagram following does not necessarily equate to actual, actionable influence. In fact, Markerly found that the larger the influencer audience the lesser the engagement level they have.
Yet, engagement and relevancy are the most important influencer marketing metrics to keep in mind.
While the number of Instagram followers translate to a wider reach, engagement and relevancy indicate how likely the followers are to take and exercise the influencer’s recommendations—such as buying a product.
A large number of Instagram followers that do not engage with the influencer could be an indicator of fake Instagram followers the account owner could have bought.
But Increasing your IG following organically grows your engagement level.
4. Use Influencer Marketing Metrics
Instagram influence can be measured.
By using quality influencer metrics such comments, likes, favorites, and shares, you can practically tell the level of engagement of an Instagram influencer. Top Instagram influencers achieve between 5% and 8% engagement.
That is a decent score considering the average Instagram engagement level is 4.5%, according to Union Metrics.
5. Use Influencer Marketplaces
You can partner with an Instagram marketing service to help you find the right Instagram influencer for your business.
Such a platform would help you choose based on location, niche, size of Instagram followers, compensation, and more.
Examples here include Tribe, TapInfluence, Influential, and IZEA.
6. Influencer fees/Cost
Perhaps you want to partner with an IG influencer that will accept to post-in-kind, receive free products in exchange for promotion. Perhaps you can afford to pay a certain amount of influencer fees.
You’ll want to find an influencer you can come to an agreement with considering influencer marketing pricing.
A survey of over 5,000 influencers found about 42% accept between $200 and $400 per sponsored Instagram post.
However, depending on your factors such as your influencer marketing budget, size of promotion and target audience, you’ll want to consider who, between a macro-influencer and micro-influencer, can help you reach your business goal profitably and sustainably.
There’s the Instagram influencer marketing checklist; go get that influencer!
Once you have developed your approach to finding the best Instagram influencer for your business using the above methods, you can go ahead and get started. With time and quantitative results, you can determine whether to develop a long-term relationship with your Instagram influencer or look elsewhere. We’re here in case you need professional assistance.