Instagram Rich List 2019 Reveals Social Media Influencer Costs

Over the last few years the term ‘influencer’ has been established for those who have a large enough social media audience that big brands, businesses and organisations are willing to part with large amounts of their marketing budgets to be endorsed by them. And it works.

Social media planning platform Hopper HQ have recently published the Instagram Rich List 2019, which shows how much top influencers are charging for their posts – and the results are staggering.

Topping the list is Kylie Jenner, with a following of 139 million users, she is charging over $1.2million dollars (!) for a single post.

Instagram Rich List 2019

You can view the full list here.

Although the sums of money involved means that most SME’s can only dream of benefitting from the exposure, for many top companies it is now a fundamental part of their everyday marketing strategy.

The Digital Marketing Institute recently published some statistics which explain why brands value social influencers so highly, here are some key takeaways from their report:

  • 70% of Teens Trust Influencers More than Traditional Celebrities
  • 86% of Women Use Social Media for Purchasing Advice
  • 49% of Consumers Depend on Influencer Recommendations
  • Influencer Marketing Campaigns Earn $6.50 for Every Dollar Spent

There is no denying the power of influencers as a direct digital marketing channel for brands looking to reach a highly targeted audience, but how can smaller businesses benefit from these tactics?

Is influencer marketing only for top brands?

It is fair to say that most of the influencers listed in Hopper HQ’s report are out of reach for most SME’s (small to medium sized enterprise), however that is not to say it is something that should be completely overlooked when putting together a digital marketing strategy.

There are many factors with influencer marketing that can be scaled-down for SME’s, not least the following of the influencer and therefore their costs. These influencers are sometimes known as micro-influencers and tend to have a following of between 1,000 to a million followers.

It is generally now argued that in many cases these smaller-scale influencers have a better engagement rate than those with a larger following.

Are micro-influencers right for my business?

If you think that there is a chance micro-influencers could help you to spread your message online to a targeted audience then it may be something worth considering.

It is important to note also that B2C companies aren’t the only businesses that can benefit from micro-influencers, it can also help B2B organisations as well.

The best place to start is on social media. Think about what your audience will be looking for through their social media channels and research any individuals that are posting regular content that is getting high engagement rates (lots of likes, shares and comments). Then, simply contact them to show your interest.

The likelihood is that these micro-influencers will already have a pre-formulated system to engage with businesses like yours and their rates are usually set, so it can be easier than you think to make things happen!

If you are an SME looking to take advantage of micro-influencers as part of your wider digital marketing strategy, we may be able to help put you in touch with the right people.