Micro-Influencer Marketing on Instagram
Instagram is a high-return social channel, especially for the B2C focus. It is a great channel to tell visual stories, so missing out on Instagram is not an option.
Instagram profiles with around 1000 followers have the highest engagement rates which reduce as the number of followers increases. This means profiles with 10,000 to 100,000 followers have much lower engagement rates than profiles will 1000 to 2000 followers. This is good news because it’s easier and cheaper to use micro-influencers than macro-influencers. Here’s how you can leverage micro-influencers:
Step 1: Make a list of micro-influencers. (Micro-Influencers are easily-approachable and Budget Alternatives to Advertising or Macro-Influencers).
Step 2: Outreach to micro-influencers in your domain through Instagram or Email (Many influencers will have their email ID in their bio or a link with their email ID on their Instagram profile) to promote your brand.
Step 3: Finalise a Cost Per Engagement (CPE) or Cost Per Action (CPA) price with them instead of a flat fee model.
Step 4: Track performance metrics through actions.
This is a simple OPN growth hacking workflow which focuses on the fact that many micro-influencers are more effective than a single macro-influencers since data shows that Instagram reach reduces with the number of followers of an account. We have found Influencers to have around 45% response rate to Instagram DMs and emails which makes this workflow even more effective.