Influencer Marketing: Investment and ROI
With the rise of adblockers, influencer marketing seems like the only effective strategy for digital marketers. In 2018, marketers have spent almost $1.6 billion on Instagram influencer marketing alone. That’s reason enough to believe that influencer marketing is both popular and effective.
But what about the ROI from this form of marketing? Let’s take a look at some of the results you can expect from influencer marketing.
Are You Going to Pay in Cash or Kind?
Whether you pay in cash or with products/services, it will definitely cost you something. If you hire the services of a celebrity influencer, it can even cost you millions per Instagram post.
However, there are many micro-influencers who might be willing to promote your brand for much less. The cost will ultimately depend on their reach, engagement, and your negotiation skills.
Keep the Commission in Mind
You can also choose an affiliate model in which you need to pay some amount of commission for every sale generated by an influencer.
Will You Hire an Agency or Buy Software?
If you work with multiple influencers and want a realistic measure of the ROI, you definitely need to invest in either of these.
Don’t Forget to Factor in Your Time
Needless to say, you do need to put a lot of time into your influencer campaigns and that’s definitely a huge investment.
Returns from Influencer Marketing
Influencer marketing can help generate greater brand awareness for your business. Your brand will be visible to an engaged target audience when you collaborate with an expert in your niche.
Followers and Engagement
Influencer marketing can also help you grow your social media followers and engagement. Some of this engagement can even translate into traffic and conversions.
To learn more, check out the infographic below.
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