If you’ve landed on this blog, chances are that you already know and understand the value of Instagram influencer partnerships. If you don’t, it’s about time you start investing some of your marketing budget in this area!
Globally, 72% of marketing experts are actively investing in and working with influencers on Instagram. What’s more, 62% of consumers who use social media say they trust an online creator more than a celebrity. With these statistics in mind, you can see why so many brands are using this marketing medium.
Where It All Started
Influencer marketing is a modern version of celebrity endorsement. In fact, you could even say that this was where it all started. Back in the day, Kate Moss was the face of Rimmel London. Now, their strategy has shifted to utilising a wide pool of influencers to promote their products instead.
That doesn’t mean, however, that there isn’t still value in celebrity endorsement. In fact, for Sauvage, Johnny Depp has significantly boosted their sales. Depp was dropped by the brand during his scandal with ex-wife Amber Heard. Nevertheless, when charges were dropped, Sauvage were quick to salvage the relationship.
The Different Kinds of Partnerships
Due to its success, the influencer marketing landscape has grown considerably within the last 10 years. This means that there are many different types of Instagram influencer partnerships that brands may choose to establish with popular creators. Let’s break these down…
Gifted Collaborations
Gifted partnerships are a great option for smaller brands who want to make an impact but perhaps don’t have a huge budget to do so. This process involves sending someone your products or services for free in return for coverage on their social media feeds. There can be formal contracts put in place for these arrangements, however they are usually done via a ‘gentlemen’s agreement’.
When opting for the gifted route, you will typically be looking at collaborations with smaller creators. How small depends on the timing of your campaign and the product or service you are gifting. For example, we could target creators under 20k for gifted opportunities. However, if you’re gifting something high value, you can target influencers with a larger following.
Paid Partnerships
Where brands can afford to, paid Instagram influencer partnerships can also bring a lot of value to the table. With a budget behind your campaign, we’re able to reach out to larger influencers on your behalf. Fees differ massively between creators and some media formats are more expensive than others. For example, whilst we are currently seeing Reels perform the best on Instagram, the influencer will put in more work to create this type of content. As such, they will usually charge more. The cheapest content format is typically stories, as this disappears after just 24 hours.
When it comes to paid arrangements, we strongly advise that brands put a formal agreement in place with these influencers. What’s more, brands don’t typically pay the creators until after the work has been completed.
Brand Ambassadorships
Brand ambassadorships are typically a much longer relationship, whilst paid and gifted collaborations are often fleeting. As we go into 2024, our experts anticipate that brands will be favouring longer relationships – where budget allows.
When you bring onboard an ambassador, these individuals become a spokesperson for your company. As such, people will begin to associate them with your brand. Businesses should take their time in selecting the right creators. When you work with VerriBerri, we will carry out the necessary background checks to protect your brand and investment.
Affiliate Links
Affiliate links often work in combination with Instagram influencer partnerships. In these scenarios, creators are given a link by the brand to share with their audience. This gives them a specified discount if they buy something through it, incentivising them even further. When purchases are made via the link, the influencer earns a small commission.
Affiliate linking is incredibly easy to track, making it easy for brands to see how profitable a certain collaboration has been. Businesses can use this to determine if they would like to partner with the influencer again or even perhaps set up something more permanent, like a brand ambassadorship.
User Generated Content (UGC)
UGC is the process of paying an influencer to produce a piece of content promoting your brand. This can then be used within upcoming marketing campaigns, like social media ads. This is a cheaper option than paid collaborations, as the content isn’t usually shared on the influencers page. This allows brands to still benefit from using large names and trusted, familiar faces to promote their brand but with lower costs.
Want to Know More About Working with VerriBerri?
Interested in working with our experts and want to know more about our processes? To speak to our business development team about Instagram influencer partnerships, get in touch with our team today! You can reach us on 01376 386 850 or click here to fill in our contact form.