In 2018, Instagram introduced ‘Paid Partnerships’, which shows up on an Instagram post when influencers or any other users are promoting certain products as part of their sponsorship program. This update would later be known as Branded Content on Instagram.
Instagram Now #1 Platform for Influencer Content
This power move by Instagram increases the transparency of branded partnerships or sponsorships to the audience and users, increasing the users’ confidence and trust in this platform.Previously, YouTube was the go-to platform for influencers. As a YouTube user, you might have seen your favourite YouTubers using certain brands’ merchandise or reviewing it. While some of these YouTubers would thank their sponsors for the opportunity to review the products or for the free samples, it is not as clear as the ‘Paid Partnership’ tag that you can find at the top of these Instagram posts.
Thanks to this transparency, Instagram is now the preferred platform by consumers.
Insights from Rakuten Marketing
The 2019 Influencer Marketing Global Survey polled 3500 consumers and 700 marketers around the world. Their key results include:- Where Users Follow Influencers:
- 65% users polled Instagram
- 62% users polled for YouTube & Facebook.
- Preferred Content Type
- 64% voted video
- 61% voted images
- 38% voted written content
- Where Users Discover New Influencers
- 48% polled for social media platforms
- 48% polled for friends and family.
- 32% polled for giveaway offers
- Users Purchase Pattern from Influencers
- 80% made a purchase recommended through shared image / link
- 74% made a purchase up to $629 on a single purchase from an influencer
- How Often do Consumers Discover New Brands?
- 65% discovers at least once a week
- 24% discovers on a daily basis
- When do Consumers Share These Content?
- 66% share when they think the content is interesting / different
- 50% share to refer the brand or product to a friend
Is Influencer Marketing Looking Up for Businesses?
Previously, businesses can only go as far as to expect a better brand awareness by using influencer marketing. However, with the change in purchasing patterns among consumers, influencer marketing could be the next good move that works for your business.The survey from Rakuten Marketing also revealed the following insights from marketers’ perspectives:
- Young marketers are more inclined towards influencer marketing as compared to traditional marketing methods
- 39% of brands would be more encouraged to invest more in an influencer program if they can see the impact of their activity across the wider consumer purchasing journey.
- 60% of marketers are planning to increase their influencer spends in 2019.
More Focus Needs to Be Given to Influencers on Instagram
With Instagram’s transparency when it comes to paid partnerships, customers are having a better perception of Instagram as compared to other social media platforms where they follow influencers.Perhaps it is time for businesses to consider influencer marketing, or start focusing on creating quality content on their Instagram account!
