What is Influencer Marketing?
The dummies guide to influencer marketing.
Influencer marketing is one of the most important marketing developments to emerge in the digital age, combining classic marketing theory with modern tools and techniques. Influencer marketing is marketing that uses popular content creators to drive authentic conversations and engagement around a brand’s products and messages. An influencer is a social media user with a large following, anywhere from several hundred to several million followers. Influencers can live anywhere, and be anyone. Influencers can range from fashion photographers to cybersecurity bloggers or reviewers, and so much more.
Influencer marketing is one of the fastest-growing marketing sectors, and is particularly popular across the social media platform Instagram. Sponsored content from social media influencers is getting more expensive for brands, and video content is currently the priciest. The cost of influencer post varies from platform to platform and depends on the size of the influencers’ following. The ROI for influencer marketing is generally positive, with one recent study suggesting that 89% of marketers say that influencer marketing is comparable or better than other channels. However, the success of the campaign will depend on the influencer selected, the campaign and many other details. If your company has an influencer in mind for a collaboration, one needs to evaluate certain elements.
Social media marketing is the process of reaching prospects and customers, and acquiring traffic and visibility through social media sites such as Facebook, Twitter, LinkedIn and many others. By utilizing the social aspect of the web, social media marketing is able to connect and interact on a much more personalized and dynamic level than through traditional marketing.
Before approaching an influencer to collaborate with, there are several things to consider.
- The audience: who is your influencer engaging with? Demographics and more are critically important: Where are the influencers followers based, what is the average age, why are those followers following and engaging with the influencer? Many influencers have a niche following that might be perfect for your audience or your business.
- The budget: how much money can you allocate for influencer marketing? What would you like to spend it on- stories, posts, blogs? Determine a budget for all of the activities associated with the strategy- from planning to execution.
- Goals: Would you like to drive sales, gain new followers, introduce a new product, elevate brand awareness?
- What is the message? What do you want to communicate? How can you combine your messaging with the style and essence of the influencer?
- The fit: does the influencer make sense for my brand? Will the alliance feel natural and authentic, and will followers want to engage with your brand?
After the campaign, it’s crucial to assess and track the success thereof. This will assist you in establishing new strategies in future and evaluating the value of influencer marketing for your business. If the campaign flopped, what went wrong? If it was a roaring success, what was the reason?
Creating a tailored and well-researched strategy to the key to success when it comes to influencer marketing. Influencers are here to stay, and it’s crucial that brands know how to work with them to ensure positive outcomes for both parties.
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