Instagram is one of the fastest growing social media platorms – especially for millennials and Gen Y’s under 40 years old. 90% of users are under 35. Businesses are constantly striving to stand out in a very crowded social media market and appear relevant to this audience – enter ‘Influencers’.
Influencers are defined as ‘a person or group who has the ability to influence the opinion or behavior of others’. Marketers have historically used well known celebrities to influence an audience by way of traditional channels. Expensive not only in engaging the talent but to get that message to market… George Clooney promoting Nespresso was reportedly a $40mill US payment to become their brand ambassador. That’s a lot of coffee.
I’d rather define an influencer as a C grade celebrity who may or may not have appeared on the Bachelor and has 15,000 followers on Insta. They post about a certain product or service and are paid for their spruking. Simples.
Young people are easily led. According to a survey by LendEdu.com of 1,700 millenials, Insta influenced buyer behavior of milenials the most.
According to French and Raven’s (1960) framework of power bases, one of the key elements to perceived power lies in expertise. A blogger that focuses on one particular subject, let’s say cooking, will be perceived to have more authority when it comes to a particular brand of food (as opposed to a technology or sport blogger).
Pound for pound, the ROI on influencer campaigns can be significant. According to the CEO of influencer marketing platform Lumano, the average influencer campaign pays between $0.25 and $0.75 per engagement….therefore if an influencer returns 1000 engagements, the price will range from $250 to $750.
So how do you get involved? You can make contact with a person of influence directly or engage an agency to do the leg work on your behalf. But beware of the power of a negative association – having a stranger endorse your brand might seem a good idea at the time… but one bad pr move could have dire consequences for your brand. Check their history – you’d hate to engage someone to promote your anti – smoking medication only to see them enjoying a dart at the Melbourne Cup a few weeks after your campaign.
Social Seedling is a full-service Social Media agency specializing in driving engagement and awareness in the small to medium sector in Australia.