With more brands and products being introduced each day, it has become utmost necessary for brands to opt for influencer marketing. It involves endorsements and product placements from individuals (influencers) who have a strong followers base on social media.
We can now see more of sponsored content on social media platforms. You may have come across a post by an influencer that reads “paid partnership wtih”, which essentially implies that the brands have paid them to endorse a particular product/ service.
Sponsored bundles and packages:
Every influencer has their own way of how they choose to endorse a particular thing on their social media profiles. Brands surely provide certain guidelines and the influencers later take it from there. Stories have now become quite popular on Instagram and are an essential part of a campaign.
Influencers can choose to opt for sponsored bundles where they specify deliverables in terms of number of stories/posts/blogs. Another way is when they charge per single stories/posts and frames.
This community of influencers is important and valuable for the brands. The influencers connect to their audiences on a personal level and their follower community resonates with them in a ‘word of mouth’ marketing kind of way. Hence, these influencers act as a linking pin between the audience and the brands.
Brands are now paying increased charges to these influencers. ‘Izea’ an influencer marketing company, recently released a report wherein they studied negotiated rates from 2014 to 2019 from micro-influencers (with generally fewer than 100,000 followers).
The findings suggested that there has been an increase in the average cost of sponsored content on social media platforms. The average price of sponsored photos on Instagram has gone from $134.04 in 2014 to $1,642.77 in 2019, according to Izea.
Such kinds of collaboration sponsorships are now being used at a higher scale than the traditional advertisements and are better catering to social media strategies.
According to Linqia reports:
In a survey of marketers with a digital marketing budget of above $500,000:
- 39% of them plan to increase their influencer marketing budget.
- 54% plan to spend $250,000 annually on influencer marketing.
- 17% have a vision of spending more than $1 Million.
These influencers are now increasingly opting for sponsorship bundles. The bundles include prices paid by brands for a certain number of stories, posts and blogs. In all, brands and influencers both resort to opting for packages.
What category influencers do you follow?