How will Instagram subscriptions affect influencer marketing?
The fluid world of social media is ever-changing, with new platforms popping up left, right and centre, and older platforms having to adapt to try and keep up. And Instagram is no exception. Last week we heard from Adam Mosseri, Head of Instagram in a video updating us on the next phase of updates to their Instagram creators’ subscriptions program. This is currently a feature that is only available to app users in the US, but with more and more updates being announced to the subscriptions alpha originally launched in January, we’ve been thinking: what could this mean for influencer marketing?
The Low Down
The announcement of the subscription platform was big news for content creators when the initial alpha launched in January. The ability to have a steady rate of income will have been music to their ears, especially with many struggling with fading brand deals throughout the Covid pandemic.
The way it works is simple enough, creators choose how much they want to charge for monthly subscriptions and all app users need to do is visit their profile and tap ‘subscribe’. This gives subscribers access to content from their favourite creators which is exclusive to them including:
- Subscriber lives
- Subscriber stories
- Subscriber badges
As well as some of the latest features announced just last week such as:
- Subscriber chats
- Subscriber reels
- Subscriber posts
- Subscriber home
Influencers Relationship with Marketing
As long as there have been social media influencers, there has been influencer marketing. Influencers and content creators inspire and push forward many areas of social culture. From fashion to food, it seems there is an influencer to fit every genre and brands are able to take full advantage of the influence creators have over their followers purchasing habits.
Influencer marketing revolves around utilising a platform to drive your brands message to a group of consumers. Brands pay a range of prices for posts from influencers dependant on the number of followers they have. For example, whilst a micro-influencer (10-100k followers) may be paid $100-$500 per post, a mega influencer (1M+ followers) can be paid upwards of $10,000 for a single promotional post.
So how could subscriptions effect influencer marketing?
Many influencers currently rely entirely on brand deals and sponsorships for their monthly income. But with the potential to receive steady income from fan’s subscriptions looking like the future of Instagram, will as many be so quick to jump at all those brand deals?
Depending on how successful the subscriptions trials in America continue to go, brands may have to go that extra step to get creators working with them. Where dodgy diet products and greenwashing fast fashion brands are currently some of the top performers for influencer marketing, creators may become a little choosier as to who they work with.
As for the cost of the posts, we’re left wondering whether the extra income influencers are getting from subscription services will mean brands won’t need to pay as much, or whether the additional need to sell your brand to the creators will mean paying even more than they do now?
There is no scheduled date for subscriptions to be introduced to app users in other areas of the world, but if the trials are successful, only time will tell what impact this could have on the future of influencer marketing for big-name brands.
We know it can be hard to keep up with the ever-changing social media landscape. If you’re looking for a team of in-the-know and passionate marketers to give you a helping hand with strategies and keeping you on the right track, get in contact.