Believe it or not, @comedycentral paid a whopping $7000 to be featured in one of @girlwithnojob’s instagrams. That’s right, one Instagram can put you back $7000 when it is featured on an account boasting 2.2 million followers. If you are anything like me, this number may cause your vision to blur because of your brain's inability to process spending that much money on an Instagram.
It's safe to say that my reaction was pure shock when I first saw the cost of advertising for some of the Instagram Influencers I was contacting on our client Country Club Prep’s behalf. While I could comprehend spending $100 for a post from @womenwholovewine, sporting a solid 215k followers, I scoffed at the notion of spending upwards of $1000 dollars on a mere Instagram. I went through accounts with followers in the millions, and silently judged the accounts featured in their isntagrams, now knowing how much money they had to shell out for the post. However, once the $7000 fog cleared I began to think about the logical approach these companies are taking.
The problem was that I was solely thinking about spending $7000 on an Instagram, something you could post for free yourself. I was ignoring the reach that these accounts have. I began to ponder if spending $7000 on a post, given you have the budget, was absurd when you were getting exposure to upwards of 2.2 million people. Then I started thinking about how dedicated people are to checking social media. People log onto their Instagram accounts far more frequently than they pick up a magazine and check out the ad section. Suddenly, there was a very apparent method to this madness.
Any social media account that has a particularly large audience is considered an Influencer. Some of the pros when considering making use of Influencer advertising is that you have flexibility in what social media platform you use, the voice of your Influencer, and the targeted demographic you will be reaching. Our client, Country Club Prep, was looking for a comical voice on Instagram that would appeal to an audience comprised of people in their mid teens to late 20s. As such, accounts like @girlwithnojob, @beigecardigan, and @womenwholovewine were a few of the Influencers we reached out to. However, one could also look for Influencers that are health focused or fashion-centric. Essentially, Influencer marketing and outreach allows you to advertise to mass markets of a very specific demographic, and offers a very high probability that your target audience will see the advertisement.
Interested in reaching out to an Influencer? Here are some basic steps we recommend you take to maximize your ROI when it comes to advertising on social media:
1. Decide which platform your demographic is most active on. (Facebook, Instagram, Twitter, Snapchat, etc.)
2. Choose what voice you want your Influencer to have. (Humor, lifestyle, fitness, motivational, etc.)
3. Research Influencers that have a following comprised of your target demographic.
4. Contact multiple Influencers asking what their cost of advertising is. When you initially contact them make sure to include links to your company’s social media accounts and a description of your company. Also, feel free to ask for any follower demographic information they have available for their account.
5. After hearing back from multiple accounts, assess what makes the most sense for your company’s budget and advertising goals.
Good luck (to your bank account), and welcome to the new frontier of advertising!
Story by: Corinne Orr