Influencer marketing has always been one of the big Instagram trends, and in 2020 it’s set to change.
Rather than have you sit here and read an Intro, let’s get into the real reason you’re, the trends!
Instagram Trends: #1 – Increase in Influencer Marketing Spend Continues
Marketing spend on digital influencers is destined to reach an all time high of $10B this year!
Added, the costs of influencer marketing continue to rise as estimated global spend on influencer marketing will reach $15B by 2022!
There are several challenges marketers are facing when it comes to implementing costly and effective influencer marketing strategies.
We see that spotting fake followers and inauthentic engagement is at the top. Why? Because there are many macro-influencers with robot accounts that follow them to boost their numbers.
Also, many use engagement groups to get a boost on engagement and even go as far as buying fake followers.
Now, we’re not saying ALL macro-influencers do this but are there is a heavy bunch that do consider it is such a big problem.
Even so, there are micro-influencers that do this too, it’s not just influencer types with 100k+ followers.
Instagram Trends: #2 – “Lower Level” Influencers Taking Over
More micro and nano influencers are expected to dominate influencer marketing – this could be one of the biggest shifts in Instagram trends.
Brands are switching their focus from utilizing big-time influencers to micro and nano influencers with lower follower counts and higher engagement rates.
Why? Well, for 1 it’s cheaper, and 2, they’re just as if not more effective than macro influencers.
Influencer rates increase almost 4x once they are classified as power (macro) or celebrity (mega).
Nano and micro are much more affordable to work with and deliver similar if not better results.
Let’s break things down in reference to the chart above.
A brand has a budget of $500 to launch an influencer campaign on Instagram.
- They can hire an influencer with roughly 15k followers to post on their feed costing them $172.
- They can then hire another influencer with 20k followers to do the same for a similar amount totalling 35k follower exposure
- Add another influencer on top of that with roughly 5k followers costing them $100 for the same feed post – now that’s 3 totally different target audiences and roughly $450 in spending.
To simplify, $450 has been spent for 40k of exposure across 3 different audiences expanding the reach of the campaign as opposed to just one macro influencer who would cost the same, if not potentially more for 1 feed post.
In hindsight, it’s essentially mass media as you’d be utilizing multiple accounts broadening the ability to reach more audiences as opposed to just one.
This is why it’s more cost-effective.
Better Connection with Target Customers
Nano and micro-influencers often interact with their audiences and take the time to understand what type of content they like and don’t like.
This is great for brands as these influencers are in-tune with what type of content works best for their accounts.
Brands should utilize this information and build content in coordination with the influencer that resonates best with the audience – goes back to the point of more effective content.
More Authentic Content
Nano and micro-influencers look to promote brands and products that they resonate with. It’s unlikely they will promote things they don’t use or believe in.
This makes their content authentic as they aren’t just promoting for monetary gain – whatever they do has to have value to them and their audience.
Higher Engagement Rate
Because of fake followers and engagement issues, heads are being turned in an effort to implement lower follower count accounts with higher engagement rates – less likely to be stuffed with robot accounts.
The higher the engagement rate of an influencer account, the more likely the audience is to like, comment, share and click the bio link for a brand’s product/service.
A Peersway survey of 5,000 influencers currently working with the platform found that for the same budget, Nano Influencers create 10X more content and deliver 3X higher engagement than Macro Influencers.
For sale conversion, utilize the accounts that receive high interaction consistently, not the ones with followers that just look at the content and scroll past.
Increased Long-Term Loyalty
These influencers are more likely to promote a brand over an extended period of time if they like their products.
This opens up a new marketing channel for brands they can utilize on a consistent basis.
Chantelle Marie or @big.chantelle is a micro-influencer from Toronto, ON.
In the post above she’s promoting Bandana Bag Co’s tote bags, however, this isn’t her first time doing it.
She clearly likes the product and if you look at her clothing style, it suits well, which touches back to increased authenticity.
Instagram Trends: #3 – More Influencers Than Before
With the increase in knowledge of influencer marketing on Instagram and growing competition of influencer marketing platforms, we predict an influx of influencers on the platform.
Why do we predict this? Well, the data is there.
Influencer marketing spend is increasing yearly, more money creates more opportunity for potential influencers in many niches.
High level and mid-level brands have been utilizing influencers who have been utilizing micro-influencers since the beginning of time.
But now, influencer marketing continues to become more granular, and we now have the term “nano-influencer” that is growing more traction.
Users with 1000+ followers now have the ability to become influencers.
Over 52% of the influencers on Instagram have between 1k-5k followers!
We’ve already explained how they’re cost-effective, now we’ll see more utilize them on a frequent basis.
Aim to capture a whopping 52% of the market or just 0.3%? From our end, it’s an easy choice.
Instagram Trends: #4 – Startups & Small Businesses to Utilize Cost-Effective Influencers
Considering everything we already covered in relation to the cost-effectiveness of nano-influencers, this creates a new marketing channel for startups and small businesses.
They can get the exposure and sales they need while only spending a couple of hundred dollars as opposed to thousands!
This can easily these businesses to another level and kick start them to start earning revenue quicker!
These 4 Instagram trends are predictions based on data and are ones you marketers should be looking out for!
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