Instagram is constantly growing in numbers – the number of followers and likes, as well as the number of stories and live content. It should come to no surprise that having an Instagram presence for your small business is crucial for growth. However, it can go far beyond your own Instagram page. Hiring small Instagram influencers – referred to as micro-influencers – is good for your business. Here’s why.
Instagram influencer marketing hit the $1 billion mark in 2017 and although it is hard to truly identify the number, it is currently estimated at over $2 billion. This is just one example of why influencer marketing is an important investment, no matter the size of your business. Small businesses across many industries can benefit greatly from micro-influencers, as they provide a bigger bang for your smaller buck.
Micro- vs. Macro-Influencers
While macro-influencers are defined as those with 100,000 or more followers, micro-influencers are those between 5K to 10K and above. The reason micro-influencers prove to be more successful for all, but particularly small businesses is that they have better and higher engagement rates. Although they have fewer followers, their followers are consumers who have a genuine interest in their content and their opinions.
Good for Business
Finding an influencer who already covers brands and topics within your industry is vital. Their opinions and posts about your business and product will feel authentic and genuine. The key is to do your research and build a relationship with these influencers. That way, you may reach a point where just sending product turns into an organic post that reaches their vast audience. The initial investment can go a long way when you find the right influencer for your business.
If you are in the market for buying a business or are trying to grow your existing one, Instagram marketing is key. Between your own Instagram presence and building relationships with small Instagram influencers (or micro-influencers), you can reach your target audience much more easily.
If you are unsure of where to begin, contact your local Transworld to get guidance from one of our many business advisors!