Influencer marketing and Instagram go together like peanut butter and jelly. The growing social network is used by tons of influencers, and is the most active social network when it comes to sponsored posts. In fact, this year brands are will spend $1.6 billion on Instagram sponsored content.
The folks at software company X-Cart published an infographic on Instagram's growing influencer marketing scene. The infographic shows how much it costs to hire top influencers, the industries that use influencer marketing, and the types of influencers that are most popular in 2018.
Here's a few interesting takeaways from the infographic:
- It costs $550,000 to buy a post on Selena Gomez' Instagram account
- Instagram has the highest influence on purchasing decisions of all social media platforms
- The average cost of a sponsored Instagram post is $300