May 31, 2017
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Since Instagram offers the bio link spot as its ONLY clickable one, consider this precious link as prime digital real estate.
You may even want to collaborate on an Instagram campaign with a major brand. Because Instagram doesn't allow links in captions, a partnering brand would ask you to direct your followers to a "link in bio" to drive traffic, both to their site and to your own. Cross-promotions and strategic partnerships can increase marketing revenue for both parties. Align with brands that reflect your voice to maintain authentic partnerships. These types of relationships will help monetize your platforms and establish trust with readers, encouraging them to visit both parties’ websites.These types of relationships will help monetize your platforms and establish trust with readers, encouraging them to visit both parties’ websites.
It’s essential to create relevant, engaging and compelling captions and content.
Since you know this hypothetical avatar only eats red meat, on average, once per month, you likely wouldn’t partner with a burger chain to endorse on your Instagram page. Instead, you could partner with a smoothie bar and yoga studios to sell your audience on what they want. A few decades ago, JC Penney was one of the country’s top retailers. Several developments led to the company’s reduction in size but one of their biggest hurdles was in the early 2000s when, in addition to several other sudden changes, the CEO decided to get rid of coupons and lower prices. Customers would get the same deals without the hassle of coupons. This would be easier for customers, smoother for employees and everyone would be happy…or so they thought. They neglected to really get to know their target demographic and failed to realize that they liked using the coupons. The psychology of attaining a deal with a coupon far outweighed the time it took to clip a coupon or the logic of the bottom line price to these customers.Gone are the days of casting the wide net and hoping to catch a few fish.
The company made an assumption, implemented a big change and got it wrong. Luckily, these days, marketing can happen on a much smaller scale with much less risk of disaster. How will you know if you’re relating to your audience and staying on brand? Likes are a start but they don’t provide the full picture since they don’t reveal any action or lack thereof on the part of your followers. You can (and should) also interact with followers to find out what they are saying about your posts and to gather some anecdotal information but this still doesn’t give you any hard data. To get numerical data about your posts and make sure you keeping them on target and financial viable, use a service like the Influencer Links from Influencer.co. This will help you track each post’s performance so you can post more of what works and skip the content that doesn’t translate into action. In addition to tracking the performance of your social media and online presence and narrowing down your specific avatar from your target market, you can also do some homework to determine exactly what problem you want to solve or service you want to provide with a simple niche statement. For example, a personal trainer wants to help our above avatar get and stay in shape. This trainer wouldn't waste his time on posts aimed at men, women in their 60s, mothers or those that support unhealthy habits. It might sound like he is neglecting a large portion of the population and leaving a lot of potential profit on the table but, in fact, he’s doing just the opposite. It’s impossible to be everything to everyone so staying on target with his audience and staying true to his niche will guarantee his posts are more efficient with more profit potential so his time is better spent and he’ll avoid spreading himself too thin. If you question whether or not to post a photo or thought or whether or not to promote a product, service or business, check it by your avatar and niche statement to get a clear yes or no. After the post, check your stats to confirm you're on the right track with your goals and demographic.You can (and should) also interact with followers to find out what they are saying about your posts and to gather some anecdotal information but this still doesn’t give you any hard data.
Are you listening? The Influencer.co team has a very important question to ask you… Would you love your dog more if he or she made you $15,000 a month?
Oh my goodness, you should be ashamed! Don’t worry, we won’t tell Princess. On a serious note, there is a dog that brings in its owner over $15,000 a month. Yes, that equates to $180,000 a year -- just $9,000 below the average salary for a family-practice doctor. We are sure you are wondering, who on God’s green earth is this wealthy sophisticated pooch you speak of? His name is Bodhi, he is a slightly chubby Shiba Inu that enjoys slipping into super-stylish human clothes when his owner isn’t looking and he happens to be one of Instagram’s hottest influencers. Influencer.co first featured him in 7 Creative Ways to Grow Your Influencer Business and our jaws have remained dropped ever since. Anyways, we have noticed a question that everyone seems to be asking as of late -- How much do social media influencers really make? Sure, the Inu is raking in the big bucks, but what about us humans?Brands like Payless Shoes have been reported paying influencers up to $1,900 for a few blogs posts. Whereas, fashion influencers with large followings won’t even talk to brands that can’t afford to pay 6-digits. Inc. Magazine attempted to create a formula that could calculate how much influencers could charge for an endorsement. Their range was $25-$75 per one thousand followers. This range depends on how niche their audience is and the level of follower engagement (likes and comments). Let’s take a conservative stance and say an individual with a relatively engaged audience has 10,000 followers and charges $25 a post, tweet, etc. Now, let’s say they don’t want to wear their audience out -- so, they only post once a week.Influencer.co first featured him (Bodhi) in 7 Creative Ways to Grow Your Influencer Business and our jaws have remained dropped ever since.
10 x $25 = $250
$250 x 52 weeks = $13,000 a year.
Okay, so this certainly isn’t enough to live off of, but it most definitely can cover the grocery bill. Take a moment and imagine what you could do with $13,000 in your pocket every year? You could finally afford to buy a motorcycle or perhaps that pet pony you have always wanted. If you were craving a $5 Starbuck’s Caramel Frappe, you could buy 2,600 of them. Anyways, you get the point. It is a lot of money. Wait, what was that? You want to make more money?Gary Vaynerchuck -- Net Worth, $10,000,000+
Gary ‘Vee’ is an outspoken entrepreneur who is setting the industry on fire by sharing his message with his massive social following. Having built many businesses, The Wine Library and VaynerMedia, just to name a few, his entrepreneurial insight runs deeper than his pockets.Influencer marketing – i.e. collaborations between social media leaders and brands – is a growing and devilishly effective field. By some accounts, influencer marketing is as much as 11 times more effective than other digital marketing. While, in reality, most brands are still struggling to calculate the ROI of their influencer programs, that didn’t stop those same brands from doubling their spending on influencer programs this year. Top influencers, ones who were already making six figures in 2015, when brands first took notice of social media leaders, now make as much as $100,000 per post. No six-figure promises, but if you’re busting your butt on Twitter, there is no reason you shouldn’t receive some compensation. There is, however, a good and a bad way to go about making money on Twitter as an influencer. As you begin to monetize your presence on the platform, focus on two things: minimizing the abrasiveness of your endorsements and maximizing their value.As you begin to monetize your presence on the platform, focus on two things: minimizing the abrasiveness of your endorsements and maximizing their value.
The best way to quantify and communicate your value is to know your click through rate for every campaign you do. Use Influencer.co to track your followers’ clicks and to collect other useful data, like the exact demographics of your audience, that you can pass on to brands. Brands aren’t always on top of this data, so take the lead! SaveBrands aren’t always on top of this data, so take the lead!
Utilizing influencers is an innovative and cost-effective way for agencies to promote their brands as well as help influencers grow their businesses and increase revenue.
When many influencers think of engagement they often think of comments and likes; however, engagement goes much deeper especially when calculating CPE.