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How Do Instagram Influencers Make Money and How Much Is It?The advent of digital technology has seen the rise of careers that didn’t exist a decade ago. Influencer marketing is a prime example. It has revolutionized the way in which brands advertise. It’s no longer about spending tens of thousands of dollars in magazine spreads and giant billboard ads that might capture the public’s attention. They are now turning to Instagram influencers to get their message across in a more direct way. Brands want to reach real people who have a real chance of buying what they’re selling. So, how do Instagram Influencers make money from this and how much is it? Grab a cup of tea ‘cause we're about to spill all the piping hot details. Let’s dive right in. Influencer Definition
Who is an influencer? Well, here's the simple definition: A person who has the ability to alter the opinions, decisions, and behavior of others. In the marketing realm, an influencer is a social media personality who has the power to affect a consumer’s purchasing decision. You’ll find them on all social networking platforms. From YouTube to Instagram, Twitter to Facebook, influencers represent a whole new frontier in brand marketing. With that said, before they decide to partner with a brand, every influencer has to figure out: “Is it worth it? Let me work it.” And they’ll come up with all sorts of creative ways to market the product to their followers. They’re so good at it that some consumers may result in taking payday loans to cash in on exclusive offers from the influencers before they expire. How Do Instagram Influencers Make Money? Instagram influencers make money by running campaigns and promotions for the brands they partner with. There are three types of campaigns they get paid to run: 1. Product-Based Content Suppose a company has a product that they want to promote using an Instagram influencer. The company would pay them to use content to promote their product. Common approaches include product reviews, testing, placement or how-to videos. The influencer would use the product while explaining its benefits. Another approach would be to give an influencer a new product in the weeks leading up to its release to test it. The brand would pay them to post a review on their Instagram account. 2. Sponsorship In this model, a brand would jump in and get involved in an on-going popular content series the influencer has running. It would pay them to feature the brand in their content to give the product some recognition and boost the company’s reputation. 3. Sponsored Content An influencer can also make money by running sponsored content on their social network account. Most influencers with Instagram or YouTube careers, all started off this way. They get paid to promote a hashtag, post a product photo with a brand-mention in their storyline, or display branded merchandise on their account. Brands can also sponsor contests and giveaways with promo codes and pay influencers to create a buzz on their accounts. How Much Do Instagram Influencers Make? Ah, the age-old question indeed. How much do Instagram influencers make? Well, let’s just say they’re raking in the dough. Some might even need a shovel. The compensation, however, isn’t a one-size-fits-all arrangement. According to the Financial Times, an Instagram influencer with roughly 100,000 followers can make a cool $2,500 for each post. Celebrity influencers, on the other hand, are in a whole different ballpark. An Instagram following ranging between 4 million and 20 million Instagram users can earn them anywhere between $6,300 and $16,400 per post. The amount of money they make depends on: 1. The Number of Followers At the risk of stating the obvious, they are called influencers because they have a sizeable following they can influence. However, brands don’t just look at the number of followers. It certainly helps, but ultimately, the influencer’s brand image and goals have to align with that of the organization in question. So, brands will look at an influencer’s audience to determine if it matches up to their target audience. They also want to ensure that the influencer’s public image and perception is an accurate representation of what the brand wants to project. Before they settle on a particular influencer, they’ll monitor online conversations to see which top influencers are already fans of their brand. Once they narrow down their top picks, they’re likely to go with the ones who have the largest following. 2. The Rate of Engagement It’s one thing for an influencer to command a large following. But, it’s an entirely different ball game if they can engage their audience. Most brands choose influencers that have the uncanny ability to keep their followers glued to their content. To do this they have to consistently create unique and authentic content that their followers resonate with. If the content they create doesn’t trigger consumer engagement, then they’ve failed. 79% of brands say that engagement is the most important factor they consider when it comes to choosing the influencer they’ll partner with. So, those whose Instagram accounts have a higher level of engagement get the big bucks. The Bottom Line These days, brands want to isolate and target people based on their lifestyle, personality, tastes, age, skills, level of education, income, most frequented places… Literally any highly-targeted demographic you can think of. The reason behind this is quite simple. It’s all about the numbers. They want to see results. They want a tangible ROI. They want a guarantee that for every X dollars they spend on marketing, they’re getting Y dollars’ worth of business. That’s why they’re turning to Instagram influencers. In turn, influencers can now make a full time living to grow their Instagram careers and expand their level of influence. Check out our blog for more amazing posts. CommentsComments are closed.
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