If you’re interested in influencer marketing but are worried that Instagram is overhyped and oversaturated, I have an untapped opportunity for you:
Yeah, blogs are boring and old-school, but their results may be anything but.
They can be surprisingly impressive. And impressive means impressions and impressions mean customers, which is what you want.
As we’ll see with a quick back-of-the-envelope calculation, a blog post from an unknown site can quite possibly compete with (or even beat) an Instagram post by an established influencer with 100,000 followers.
It’s impressive stuff.
How Much is An Instagram Post Worth?
When a brand pays an influencer, it’s buying the attention of that influencer’s audience. The more of their attention the brand gets, the more the brand can sell.
So the question is:
How much attention is a brand really buying, and at what price?
Let’s do a quick 3rd grade level calculation to find out.
The Value of the Post Itself
If a brand wants an influencer with 100,000 followers to do a single sponsored post, it can expect to pay about $1,000.
That doesn’t get the brand 100,000 people’s attention, though.
Because Instagram is so crowded these days, only about 30% of those followers (30,000 people) will ever have the post cross their feeds.
And even if the brand manages to pick an awesome influencer with an audience that’s twice as engaged as average, only 5% of them, 5,000 people, will actually stop scrolling long enough to like or comment on the post.
Hopefully, those people will see the brand and not get distracted by the scenery, bikini, food, or other distractions.
If we estimate these 5,000 people each spend on average 3 seconds liking or commenting on the sponsored post—and we also assume these are all real people and not bots—the brand’s $1,000 bought it 15,000 seconds of attention (5,000 ppl x 3 sec/ppl).
That’s 250 minutes of attention.
But that’s not all the brand gets.
The Carry-Over Value
Of the 5,000 people who liked or commented on the sponsored post the brand paid for, some will click through to the brand’s Instagram page.
If 10% (500 people) do so, that would be a pretty rousing success.
And if the brand has awesome content on its Instagram account (a big if), maybe 50% of them, 250 people, will decide to follow it. That’s great for the brand, because it no longer needs to pay an influencer for the attention of those 250 people.
Even so, those new 250 people won’t see or engage with every post the brand puts out.
Let’s be generous and assume these new followers engage with 20 of the brand’s post. Again assuming 3 seconds per engagement, that means the brand gets 60 seconds of attention per new follower.
That means the total carry-over attention of new followers the brand got from their influencer’s Instagram post is another 250 minutes.
The Total Instagram Post Value
Adding the 250 minutes of attention the brand got from the influencer’s sponsored post to the 250 minutes of carry-over attention, the brand ends up having bought 500 minutes of attention.
And since it paid $1,000, the effective cost of attention is $2 per minute.
Now let’s use this number to see what this means a blog post could be worth to the brand.
How Much is Being Featured in a Blog Post Worth?
Compared to an Instagrammer with 100,000 engaged followers, the blog I run with my girlfriend, The Unconventional Route, is nothing.
We only have about 500 Instagram followers.
But even though we have 0.5% of the Instagram influencer’s following, when it comes to getting attention, we can put up a decent fight.
A below-average post of ours, say this one on 8 Only-in-Vancouver Dining Experiences, gets about 500 page views per month. And, according to Google Analytics, those viewers spend an average of 5 minutes skimming through it.
Five minutes per viewer multiplied by 500 views per month…
That’s 2,500 minutes of attention right there!
That’s five times as much you got for your 100,000 follower Instagram post!
But wait a second…
Unlike the Instagram post the brand paid $1,000 for, our blog post isn’t 100% promoting any single brand.
We recommend 8 places, so only 12.5% of the post would be about a single brand. And if we remove the intro and conclusion, it’s less. Maybe 10%.
So the brand’s only really getting 10% of the 2,500 minutes—250 minutes—specifically for its brand.
But wait a second…
That’s 250 minutes in one month.
Unlike Instagram posts, blog posts stick around for a long time, especially if they’re well written (like, ahem, ours are).
In just two months, our blog post will match the 500 minutes of attention the brand would get from an influencer with 100,000 followers.
It’s likely that traffic to the blog post will grow over time, especially if the site you work with is up-and-coming. So while our example blog post might get a brand the same attention as 100,000-follower Instagram post in two months, in a couple of years it could get as much attention as an additional post on a 1,000,000-follower Instagram post.
Better yet, small-time bloggers like us definitely don’t charge $1,000 per post.
Not even close.
Wait, There’s More!
Before you empty your wallet onto bloggers’ laptops (if you’re a marketer) or sign up for a WordPress account (if you’re an influencer), it’s worth considering some nuance I left out of the above analysis:
- Level of influence: An Instagram influencer may have a stronger relationship with their followers than a blogger does with readers who stumble on their site from a Google or Pinterest search.
- Quality of attention: People go on Instagram to zone out on sexy, cute, funny, and gossip-worthy photos. They go to blogs (via Google or Pinterest) for answers to specific questions. Advantage, blogs.
- The value of discovery: Consumers may discover some brands on Instagram that they’d never think to search for online and find on a blog.
- Different audiences: Some people spend tons of time on Instagram and prefer not to read. Others are the opposite. Marketers may want one demographic over another—or both.
- Images versus text: Since “a picture can say a thousand words,” the value of attention focused on images (Instagram) may be higher than that spent reading blogs. Blogs have images too, but generally not to the extent of Instagram.
- Through traffic: A blog post typically includes a link that will bring a slow, steady stream of traffic to the brand’s site. An Instagram post will only very briefly (if at all) include a link on the influencer’s profile.
- Attention doesn’t matter: At the end of the day, attention doesn’t mean squat if people don’t buy, so you could argue this whole analysis is moot and all that matters are click-through and conversion rates. I’d argue blogs have the advantage there, since influencees are fewer clicks away. If you have any ideas on how to compare the influencer marketing value of blogs versus Instagram on CTR or conversion please enlighten us in the comments.
Why This Matters to You
In case you “suck at math” or got bored by my analysis, here’s the important takeaway:
Doing influencer marketing with bloggers instead of Instagrammers is likely an untapped opportunity…
Eventually—hopefully, for us bloggers!—marketers will realize the value of blog posts and start bidding up their rates until they’re on par with those of Instagrammers.
But that hasn’t happened yet.
Marketers: Now’s your opportunity to take advantage of this untapped opportunity to get more attention for less money.
Potential Bloggers: Now’s your chance to get a headstart before it becomes a lot more competitive than it already is.
What About Magazine Ads?
Have You Been Influenced?
Brand marketers, does this compel you to work with bloggers more? Or what are your doubts, questions, or concerns?
If you’re looking for the most effective bloggers at getting attention for your business, check out the top 25 “bestselling” travel blogs.
Influencers, what do you think? Do you agree with my super biased pro-blogger analysis, or do you think I’m being a “jealous hater”?
And how would you improve this analysis?
Contribute to the discussion in the comments below.