In pre-social media days, brands approached their consumers with targeted messages but did not bother to respond. The introduction of social media platforms has changed the way how a brand interacts with its consumers. Nowadays, interactions between brands and consumers have become two ways with almost human-like communication.
Every social media channel has its unique selling point (USP), but Instagram has its creative flavour that has become a rage among its users. Brands are now using influencers on platforms like Instagram for effective communications.
Whenever we look for recommendations for any service or product, we go to people we consider honest, authentic, and someone who has the best interest at heart. Sometimes word of mouth publicity also influences decision-making. Now on digital platforms like Instagram, we have the same word-of-mouth recommendations that we know as Influencers. An influencer can be a content creator, blogger, or trusted digital marketer who has a considerable following on social media. They are passionate about giving information on various topics, services, or products.
There are different types of influencers. These influencers are categorized into diverse niches, followings, and work in their style for content creation. They are classified into Nano, Micro, Macro, and mega categories, with followers ranging from below 10k to 1+ million.
Certain celebrity artists are pretty active on Instagram and have a huge fan following. These types of influencers are usually in the Mega categories. Brands are now forging tie-ups and partnerships with such celebrity influencers to boost their own business. Apart from tie-ups, brands also spend on influencers' services and give thrust to their marketing campaign.
Then we have the common people like friends and families who are influencers in their right. They are the Nano influencers. The surprising thing about Instagram influencer marketing is that one need not have a large following. Influencers with a small target audience can have a higher engagement rate and better ROI.
From a brand's point of view, Nano influencers can be cost-effective and more productive. The influencers are more acceptable by consumers as someone genuine and trusting instead of a celebrity whose endorsement comes driven by the incentives they receive as celebrity endorsement fees. This group of influencers is gaining more popularity with established brands also. Brands are now becoming cost-conscious and replacing high-paying advertisements with low-cost, high-return influencer marketing programs on social media, including Instagram.
With 1+ billion active Instagram users and 500+k active daily, it is not surprising that social media influencers use Instagram is their first-choice platform. Market intelligence predicts that the influencer marketing industry will value at $15 billion by 2022
The Instagram users are projected to grow from the current 1 billion to 1.20 billion by 2023. With 81 % of the use researching for products and services on Instagram, it is clear that Instagram influencer marketing will not go anywhere soon. It is here to stay and grow.
