Instagram has just announced their new platform for long form (up to 1 hour), vertically orientated content, IGTV.
The IGTV app is now available to most instagram users and will be available to smaller and new accounts shortly.
IGTV can be downloaded from the app store as a standalone app, but it can also be accessed from within the regular instagram app, which now boasts over a billion users.
The move by Instagram comes with some other major announcements by Facebook. Along with placing resources into content, Facebook has released multiple new features to go with their Facebook Live and Facebook Watch offerings. These include live polls, quizzes and content creator group subscriptions to level the playing field with other video content platforms like live streaming service, Twitch and video platform, Youtube.
With ads on the horizon for IGTV and subscriptions for Facebook creators, more and more content creators are likely to get involved with the increase in earning opportunities. One of the first partnerships that IGTV has launched is with MTV and the 2018 VMA’s. In order engage with a younger audience, MTV will announce their nominations a part of their award show build up. This style of curated content is a prime example for using IGTV as a branded content tool.
All of these announcements are exciting for us in the world of influencer marketing. With additional content types and ads, there are more ways than ever to reach new audiences by collaborating with influencers and content creators.
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Influencer marketing generates 11 times ROI in comparison to traditional marketing, making it well worth the investment for most brands. It’s not surprising we’ve witnessed a massive global increase in the number of brands getting involved in influencer marketing and the amount of marketing budget that has been allocated to influencer marketing as an integral part of the overarching marketing strategy.
The one question that always seems to pop up in meetings, events, and pitches is: How much should I spend on influencer marketing? And, how much campaign spend do I need to ensure my campaign will generate the results I’m looking for?
What to expect to spend:
At The Social Club, the average campaign spend has grown 100% year on year, and by the looks of 2018 so far, it’s not slowing down anytime soon! This mainly comes down to brands moving away from testing budgets and dedicating a strong percentage of their digital marketing spend towards influencers.
With 63% of marketers allocating more of their marketing budget to influencer campaigns, it’s likely the percentage of total marketing budget will continually grow as the industry grows to an expected $5B-$10B market by 2020.
The number of campaigns a brand has run each year has also been growing, from 2 campaigns per year in 2015 to 7 per year in 2017. Once brands see the results from their influencer campaigns, they start shifting budget across and running larger campaigns more often.
In a 2017 survey by Bloglovin shown below, we can see that 40% of campaigns had a campaign spend higher than $10,000. They also found that a large majority of the lower budget campaigns were smaller campaigns or sub campaigns that ran more frequently (e.g. monthly always on campaigns).
What to spend to see results:
If you’re looking to see results, our recommendation for your first influencer campaign spend is 30% of your monthly digital marketing budget. That of course can vary lower or higher depending on your marketing goals and KPIs.
New brands to market and B2C brands tend to put a higher percentage of their digital marketing budget into influencer marketing to build brand awareness and sales, especially for a new product launch. While larger brands often incorporate influencer marketing into their always on budget and align influencer marketing with their above the line campaigns, committing between 15%-50% of their digital marketing budget.
There is a huge opportunity to achieve amazing results with influencer campaigns. Like any form of marketing, the results are always strongest when there is a clear strategy in place for how the campaign will achieve it’s KPIs, rather than adding the influencer element on at the last minute. So it is always worth investing the time upfront to work out your strategy, and what you hope to achieve through running an influencer campaign.
New Zealand in comparison to the world:
The average campaign spend in Europe in 2017 exceeded £50,000, on the back of a year on year increase of 39%. This comes down to territories like Europe and North America having more mature markets than our neck of the woods.
When it comes to the cost of influencers, New Zealand’s influencer market is still in it’s early growth stages which means that there is a high demand for influencers (especially macro influencers).
Adairs, a leading homeware retailer recently ran an influencer campaign with a campaign spend that allowed them to collaborate with nine influencers, both macro and micro. The objective for the campaign was to drive sales and increase awareness for their new Autumn Collection. The campaign received epic results with an overall Instagram story viewing percentage of over 15%, which is 3 times the industry average! To see some of the awesome content check out the full case study here.
If you’re still unsure about what you should be spending, have a chat to one of our campaign experts and we can help you work out how to get the best results from your budget.
Most marketers on Instagram Stories are missing out on a huge opportunity.
Before we can explain why, let’s backtrack for a second.
As marketers, we’re storytellers above anything else. We weave narratives that are as meaningful as possible to drive engagement, and to create a mutual understanding with our audience. To build relationships, to forge communities, and to create moments.
Ephemeral content – i.e disappearing stories on Instagram and Snapchat – has allowed us as storytellers to do this better than ever before. We can tell real Stories, and get feedback in real time about what’s working.
But most storytellers are missing out on the most important part of the opportunity on Instagram Stories: the data, and what it actually means for your content strategy.
As the space gets more and more crowded with brands, influencers and friends alike, this will be the game changer that separates the brands that keep their audience’s attention, and those that get lost in the sea of disappearing Stories.
Because data means nothing until you can tell a Story with it. Swipe Aways and Tap Forwards and Impressions, are, at their core, meaningless until you use them to tell a Story about what’s really working – and why.
But Instagram’s native analytics only tell half the Story. Here’s the other half.
Here you can find a complete breakdown of what Instagram’s native analytics really mean, and what the implication is for your content strategy, so you can grab people’s attention – and keep it.
The total number of times a piece of content has been viewed. This includes multiple views from the same user. Each piece of content in your Story will have a total number of impressions, so you can see where your audience is dropping off. Be aware that drop off rates on impressions are significantly less meaningful than they may be for reach, however. Because reach is defined as the total number of unique views, and an impression can be the same person watching your story over and over again, the drop off and completion rates become less meaningful here. Your total number of views.
Implication for content: Pay attention to your total impressions over time, and see if you can identify patterns for your content here. Are the Stories that get consistently high numbers of impressions a similar length? Are they the ones with 3-5 segments, or is 20 the sweet spot for your audience? Do takeovers work best for you, having a person host the content and guide your audience through the narrative? See the patterns over time and use it to inform your strategy going forward.
Your Impressions versus Reach per Story is also an interesting stat to look at. Here’s why: if impressions are significantly higher than reach for the same Story, this means the same people are replaying the Story – meaning your content is engaging enough to hold their attention more than once. Keep an eye on this content and see if there’s a way this can be build on in future content strategies.
The number of unique views a piece of content has received. This only counts one view per user, no matter how many times they’ve viewed that piece of content. This will show you the total number of unique views over the course of the entire story – your focus here should be on your completion rates, and where people are dropping off. Total number of unique eyeballs.
Implication for content: Because these are unique eyeballs, this should inform your content strategy in two ways: 1. Tracking your reach over the course of several Stories, and 2. Tracking your completion and drop off rates. Pay attention to the Stories that attract the most views, and that maintain those views over the course of the entire Story. Again, look to see where the patterns are – are they the Stories that contain interactive features like games or polls? Is it video or stills that keep people watching more? Are the Stories holding people’s attention when they’re created in real time, or is it pre-produced, polished content that the people want? Patterns of success here are important for your content and channel strategies.
How many times people have tapped forward to get to the next segment of your story. The implication here is that your story is not engaging so users are trying to get to the next segment, the segment is too long so they’re skipping through, or the entire story is too long, so again they’re skipping through. Total number of skip-throughs.
Implication for content: It’s not engaging people, or is too long. Look at the Stories that have a high number of taps forward, take a deep breath, and learn from them – this is the stuff you’re better off not repeating.
The number of times people have tapped back to view a piece of content again – AKA replays.
The implication here is that they’re looking to view a piece of content for a second time because they’re either particularly interested in/enjoyed it, or they missed something and didn’t catch it the first time. Total number of replays.
Implication for content: This is usually the engaging stuff that’s working if people are taking the time to replay it, so is worth looking into why so you can replicate success. If there’s a correlation between replies and taps back, this will also indicate a particularly engaging piece of content. On the flipside, this may also signify that you had too much going on for the viewer to consume in one hit – i.e. your post had too much text to be read within the time limit. Look at your content with a high number of taps back closely, and if it’s particularly busy, you may want to consider simplifying things in content going forward.
The number of times people have completely left the Storysphere on Instagram from that particular piece of content. They’ve either gotten sick of watching and left, or clicked through to an external source from a swipe up link. Total number of people who have left the Storysphere.
Implication for content: Exits are not necessarily as much of a negative thing as Swipes Away, as if the piece has a clickable link or @mentions another user, this may indicate engagement with the content that’s led them elsewhere. Look for correlations between link clicks/web traffic and exits, and exits on snaps that @mention a user. If neither of these exist on a snap, this may indicate lack of engagement.
The number of times a user has swiped through to the next story in their feed.
This means that the user has disengaged and left for the next person’s Story. This indicates they’re still keen to watch Stories – just not this one. It’s essentially a drop off rate, so look at where this is happening in the story – if it’s on the last segment, this would just mean they’ve finished watching. If it’s in the middle of the Story, look at the piece and see if there’s a pattern of people dropping off on similar types of content over time. Total number of people who have left your Story for another.
Implication for content: The Story is either too long, or the content is not engaging enough to making them stay. Again, take the lessons from these Stories and use them to fuel your content machine going forward – even the stuff that doesn’t work is valuable if you know where to look. Caveat here: If it’s on the last Snap, it’s likely still been an engaging Story.
The number of times a piece of content has received a reply from a user. This is when they watch a piece of content, and feel compelled to write a reply to the composer of the Story. Total number of replies.
Implication for content: Replies require a high level of engagement from users, and should therefore be paid close attention to what compelled them to act so you can replicate success. Was it a call to action? Was it just a snap they particularly enjoyed? A reply is high barrier, so this is a really good thing as far as content is concerned.
Introducing the new Instagram Emoji Slider feature.
Instagram has just announced a new interactive story feature called “Emoji Slider.” The feature has brought ingenuity and originality to the Instagram platform and taken the Insta poll to a new level. It allows users to express their opinion or answer to a question using an emoji scale. All you have to do is drag the emoji on the scale either left or right, and release it on the point most suited to your answer. Once answered, you’re able to see the average response of your fellow mutual followers (much like the original Instagram poll).
With the original Instagram poll, people are given two options to choose between, like yes or no, Rihanna vs Katy Perry, Pizza vs Pasta. Now, people can express exactly how hot 🔥 they thought Rihanna’s outfit at the Met Gala was, opposed to whether it was simply hot 🔥 or not ❄️. It allows people to give a far more accurate and personalised answer. The emoji also adds a layer of emotional context and helps brands and influencers gain further insights into their audiences opinions.
To use it, first make sure your Instagram is updated (downloadable in the App Store and Google Play). Upload your pic or video, swipe up and select the scale icon from the sticker tray, just like adding a poll. Write your genius question, pick the relevant emoji you want people to answer with, and post! Now it’s up to your friends and followers to decide just how 😍 your homemade nachos look.
We reckon the feature is going to be popular for most Instagram users, especially youths and millennials. But how popular? Well, you can answer that on our emoji slider poll!
At The Social Club, we’re super excited for the new instagram shopping feature and we know many of the brands we work with are too.
Instagram has just launched their new Instagram shopping feature in New Zealand which allows transactions to be made between businesses and users. Instagram now allows brands to have click through tags and shop buttons on their content to take users to their website where they can purchase the featured product.
With 74% of consumers using social media to make purchasing decisions, the new feature takes the entire Instagram user experience to a whole other level. For both consumers and brands, the process becomes far more direct and simplified. Which as a result, makes it easier for brands to accurately track and calculate their ROI.
Instagram isn’t charging for the feature at the moment, since the value for the platform is in the data – gathering information on people’s purchasing habits to perform better advertising.
Currently, the feature can be used on any unpaid or organic posts selling physical products e.g clothes, appliances and beauty products. However, it will be interesting to see if the feature expands to include services as well.
For influencers, it’s a massive value add as it allows them to send direct traffic to a brands’ website seamlessly, removing the pain point of the previously clunky “link in bio”. It’s also very exciting for us, as it means we can accurately track the campaign performance.
Overseas, some brands have seen rises of between 20 and 60 per cent of their business coming from Instagram Shopping. Now, brands who aren’t on Instagram may begin to see the value as they are able to track the success of their content.
If you’re interested in giving an influencer campaign a go, you can contact one of our campaign members, or check out our platform – we always love teaching people how successful influencer campaigns can be!