Even in 2021, the need for Instagram influencer marketing is still sky rocketing.
As more and more businesses are starting due to current COVID-19 situation the whole marketing business is on its peak.
Every needs some sort of marketing to promote their product or service.
But, in this post we’ll specifically talk about Instagram influencer marketing cost and who you can keep the cost lower especially when you’re just starting out.
Instagram Influencer Marketing Cost
The standard rate that you should expect to pay is between $0.5 to $2 per 100 followers.
So for example if an Instagram influencer has 10,000 followers the cost can range between $50 – $200.
How To Identify The Right Influencer While Still Keeping The Cost Low?
You might be considering to start your own Instagram influencer marketing campaign but can’t figure out how to identify these influencers and you can keep the cost lower than the one mentioned above?
Here are a few ways to do it:
1. See Engagement Rate
This is probably the most important point you need to consider when starting an Instagram influencer marketing campaign.
Engagement rate simply means how many percentage of followers of an influencer actually engage with the post by liking and commenting on it.
There are a few accounts on Instagram with quite a large fake following. So if you ever run a campaign with them you’ll not get much benefit.
In order to assess good engagement rate take 1% of the total following of the influencer and see if that number is equal or more on each of those posts.
So for example if a influencer has 10,000 followers. 1% of it will be 100.
So if most of his/her posts have been liked atleast 100 times or more than they have a good engagement rate and you can consider hiring them.
Our recommendation is to stick with the Instagram influencers having atleast 3% engagement rate.
2. Omni Channel
Are they on other social media platforms as well especially on YouTube? When a person shows their face on camera they attract more trust and authority.
So if they recommend a product or service people actually buy it because they show themselves in front of the camera and don’t shy revealing their personal lifestyle.
Our recommendation would be to pick an influencer of atleast 10,000 followers to start with unless your niche is very targeted and obscure that a very few people know about.
4. Verified Or Not
We recommend to stay away from verified profiles as they tend to charge way more than the usual influencers and that’s because they have more social proof than the rest of the profiles and that makes sense.
Only get services from verified profiles if Instagram influencer marketing is already working for you.
Which Industries Works Best On Instagram?
Not all industries works well on Instagram. Here are a few of them that are actually good and can breakeven your investment even if the ROI is not positive:
- Health & Fitness