Instagram influencer marketing is hotter than ever.
Since 2011, Instagram has been one of the fastest growing social media platforms ever.
And its growth won’t stop soon.
Instagram announced that they have hit 600 million active users.
Have a look at these pieces of data gathered by MediaKix.
In 2016, 9.7 million brands sponsored influencer posts.
In 2017, 14.5 million brands are projected to sponsor influencer posts. Almost 50% more.
In 2019, 32.3 million brands are projected to sponsor influencer posts.
More than three times in three years, is it hot enough?
Let’s talk about mere money.
In 2017, the Instagram influencer market size is $1.07 Billion.
In 2019, the Instagram influencer market size is supposed to grow up to $2.38 Billion.
More than twice in two years.
Furthermore, influencer marketing itself is projected to be a $5-10 Billion market by 2020.
One thing’s for sure: influencer marketing is here to stay.
“84% of marketers said they would launch at least one influencer campaign within the next twelve months.” – eMarketer
eConsultancy writes that almost 60% of fashion and beauty brands have an influencer marketing strategy in place, while a further 21% plan to invest in it over this year.
Picking out the right influencer will undoubtedly enhance your marketing outcomes. This is what distinguish a great social media campaign from a nice one.
The right influencer is a mediator that will introduce your brand to a potentially-interested community.
Not to mention, the most-popular influencers have developed their own brand. For instance, Chiara Ferragni launched her ChiaraFerragni Collection, while Michelle Lewin has her own line of supplements and a range of home-workout equipment, and can’t even take on new collaborations.
Because being an influencer is not only shooting nice photos or writing compelling captions, but building connections as well. Once you’ve built strong relationships with people, they will follow you and your thoughts are going to be trustworthy for them.
Influencers have authority in certain niche, and marketers’ aim is getting them enthusiastic about their brand or product/service.
Influencer marketing is also one of the most blurred industries.
The lack of data makes an analyst’s work way more difficult. The only source of data which can help us to discover something about the influencer industry is Whopaysinfluencers: an anonymous crowd-sourced list of which companies/brands pay their artists/influencers and how much.
On the other hand, the proliferation of startups involved in influencer marketing makes everybody think that the opportunity is huge.
There are mainly two types of startup: influencer platforms and influencer agencies.
Both are definitely at their best, and are certainly bound to grow.
If you want to get an idea of how they work, have a look at these agencies/platforms:
They’ve conquered the marketplace. Paradoxically, the influencer industry’s secret of success is split between two aspects that are way older than social media: word of mouth and targeting.
Although word of mouth is one of the oldest marketing techniques ever, it still works. It works very well when a trusted person (influencer) advises a product.
It has to be an honest advice, nothing fancy.
An influencer’s success is tightly related to their reputation: if they tend to sell their posts too often, their reputation is going to be ruined and then their business as well.
The best social media influencers are those who have the best knowledge of their audience.
This way, they can promise to reach a certain kind of target to the brands.
It goes without saying that targeting is a strong asset of online advertising, not only of influencer marketing. It requires a constant struggle to stay competitive enough, yet nothing is more satisfying than paying your bills out of social media posts.
The opportunity is still on, and there is room enough for a bunch of people.