Video: Instagram on using Snapchat-like technology
Influencers are the trend makers and their use of a platform depends on how effective it is. Instagram seems to be winning the game with influencers at the moment.
Since Instagram Stories launched in August 2016, it has grown to over 250 million users world worldwide.
Influencer marketing platform Mediakix noticed a decline in Snapchat influencer inquiries after the launch of Instagram Stories. It looked at influencers using Snapchat compared to Instagram over six months from February to August 2017.
It tracked 12 top influencers' posting activity on both Instagram Stories and Snapchat Stories for 30 days. Each day, it counted the number of Stories they posted to each platform.
It discovered that top influencers posted twice as many Instagram Stories compared to Snapchat Stories. Instagram Stories use had grown by 14 percent, whilst Snapchat use had declined by a third.
Influencers posted an average of 7.6 stories per day on Instagram compared to 3.6 per day on Snapchat.
Influencers who earn a living from social media sponsorships, will post on the platforms which give best opportunities for visibility and engagement.
They want to extend their reach and audience. Audiences will go to the platforms that have the best available content -- usually posted by social media influencers.
Two main business models are most prevalent among creators. Four out of five influencers either charge a flat fee per post, or post in exchange for a free product.
There seems to be little consistency in how influencer fees are developed. Content marketing and influencer platform #Hashoff released its influencer marketing report which shows that influencers value authenticity over money.
The report showed that influencers did not want to "sell out." In fact 64 percent surveyed said they would not promote a brand they did not believe in, even if it came with a big paycheck.
The report showed that over a third of influencers -- 35 percent -- have a model that takes into account reach and engagement rates, 18 percent ask their peers, and 22 percent rely on the brands to suggest a price. Worryingly, 17 percent of influencers say they just "Ask for as much as I can get."
Being an influencer is becoming a full-time job. Just six months ago, only 12 percent of respondents said being a creator was their only form of employment.
Now, that number has more than doubled, to 28 percent, and the majority (54 percent) of creators say that, while they are not yet able to support themselves as full-time creators, that is their goal.
Influencers could be responsible for the slowing of Snapchat's user growth since August 2016. This could be attributed to the growth of Instagram Stories. However, Snapchat is making attempts to regain ground with brand marketers.
It is giving its advertisers the ability to include a pixel -- a digital code -- to make ads more trackable and targeted. Whilst it has been on the fence when it came to retargeting, it now has to embrace tactics in order to develop more sophisticated advertising models.
In 2017, influencers have proven their staying power in the world of advertising. On platforms where bots and fake followers are driving up follower counts, reliable metrics are key for both influencers and brands.
Influencers encourage brands to look at metrics beyond likes and follower counts, instead valuing engagement rates, clicks, and sales generated from influencer posts to define ROI.
Previous and related coverage
New data indicates that influencers are pausing their use of social platforms like Snapchat and are moving to greener, more profitable social media pastures.
Brands are building deeper relationships with influencers using instant social platforms like Instagram and Snapchat.
90 percent of micro-influencers charge brands under $250 to write branded posts. Are brands taking advantage of this low cost social marketing option?
Is influencer marketing just another PR tactic or can it really be scaled into a credible media channel with AI?