The popularity of influencer marketing, especially Instagram influencer marketing, is increasing quickly. On a global scale, the influencer marketing platform industry is projected to grow at a rate of 32.4% compound annual growth rate (CAGR) until 2024. This translates into an industry worth $22.3 billion.
Additionally, 79% of marketers in a survey said that Instagram was the most important channel for influencer marketing for them. Now that we know how important Instagram is for influencer marketing, let’s take a look at some trends for Instagram influencer marketing for 2020.
Instagram Influencer Marketing – 2020 Trends
Instagram doesn’t only help you raise brand awareness, but you can also use it to improve sales and audience engagement significantly.
Below are some of the things you should expect from Instagram influencer marketing this year:
1. The Importance of Content Quality Will Continue
To grab and keep the attention of your audience, you need to publish content that offers value consistently. Numerous posts with poor content will not attract your audience and might affect your brand negatively instead.
Apart from the quality, the type of content you post makes a difference too. According to a 2018 report by Mention, videos tend to receive 2.1 times more comments than images. On average, videos tend to receive more likes than images as well. Thus, posting videos can help you generate more engagement.
2. The Popularity of Instagram Stories Will Soar
Instagram Stories serve as an excellent medium for engaging target audiences and promoting products. They are only available for 24 hours, which makes them more fun and exciting.
Also, the variety of music, filters, and stickers help to grab viewer attention. Additionally, hashtags serve as very useful tools for making your Stories more discoverable too.
Additionally, despite the 24 hours lifespan of Instagram Stories, you can add them as Highlights to your profile to have them stick around. As Highlights, they’ll be shown at the top of your profile, where audiences can view them any time.
3. The Importance of Micro-Influencers Will Increase
The fan bases of micro-influencers may be relatively small compared to those of celebrities. However, their connections with their followers are much stronger, and that gives them more influence over them.
Therefore, they have an edge over their celebrity counterparts, mainly because they leverage the strong bonds they have with their followers to produce more relatable content. This content can get more engagement.
Additionally, micro-influencers have fewer followers. As a result, their fees are significantly lower compared to those of macro-influencers. This makes them affordable for small businesses, and you can even work with multiple micro-influencers at once without burning a hole in your pocket.
To find out more about what you should expect from Instagram influencer marketing in 2020, check out the following infographic from the folks at Fourstazz Media, an influencer marketing platform.