Influencer marketing and Love Island’s final
- Influencer marketing is now over a billion pound industry
- Ratio of likes and comments to followers peaks at around 1000 followers
- Followers more keen to interact with someone they can relate to more closely
- Instagram rolls out “like count ban” in Canada, Australia and other countries
Have you seen the Love Island final yesterday? We sure have. After all it is one of the biggest TV shows this year.
The BBC reports the show’s finale attracted an average audience of 3.63 million – peaking at 4.05 million – and gained a 21.4% average audience share. Music to advertiser and influencer ears!
This year’s winners Amber and Greg already count hefty Instagram follower numbers: Amber has staggering 1.9m accounts that follow her. Greg falls behind with still impressive 665k. Molly-Mae, the bookies’ favourite, even counts 2.2m followers.
These follower numbers make Molly-Mae, Amber and the others valuable influencers for brands. Companies are prepared to pay a lot of money to share their products via their social media platforms.
Influencers have become high earners
According to Forbes, an account with over a million followers can earn upwards of 50k for a single sponsored post. But the peak for social influencer might have reached its highest point.
A recent study by Mobile Marketer shows that engagement rates for sponsored and organic posts are nearing all-time lows. The data shows that the engagement rate for sponsored posts was 2.4% in Q1 2019, down from 4% three years earlier.
Most brands simply look to an influencer’s followers to work out whether they are worthy enough for a partnership. But with the rise of fake followers and sponsored post engagements on the decline, a new trend is emerging.
Followers prefer to interact with someone they can relate to
Brand marketers are now turning toward working with micro-influencers instead. Online publication The Startup writes that the ratio of likes and comments to followers peaks when an account has around 1,000 followers. With more than 100,000 followers, engagement starts to flatten out; users just aren’t as keen to interact with a celebrity as with someone they can relate to more closely.
The Startup provides three simple statistics why companies should be looking to engage with micro-influencers:
- 60% higher engagement
- Underpriced (6.7X more cost-efficient per engagement)
- 22.2% more weekly conversations than the average consumer
Turns out that trust and credibility are critical for purchasing decisions. So next time when planning your digital strategy and looking at featuring influencers, make sure not to focus on follower numbers. Instead check engagement rates which tend to be higher with micro-influencers who are perceived to be more authentic and genuine.
The clock might be ticking for Instagram influencers anyway, as the company has already introduced “like count bans” in Canada, Australia, New Zealand, Ireland, Italy, Japan and Brazil.
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