What Is Influencer Marketing?
When you use key leaders to drive your brand's message to the bigger part of the market and you are mainly using word-of-mouth then you are using influencer marketing. With the help of influencers, they get to target people who are more likely interested in your brand, with their help you are targeting people who already trust them as well. There are a lot of ways for it to happen, sometimes influencers act as buyers and write or talk about what they could benefit from you and what features your products have. And because this marketing strategy works amazingly, the popularity has been growing and growing over time.
Of course, the main thing we want to happen here is to take full advantage of it since it’s said to really work, but before that, you have to make sure to understand it. So to make it easier for you, here are some of its statistics:
32% of influencers say that Facebook is the best platform and 24% says Instagram is the best for them, so you could use both in order to get both.
When you invest $1 in influencer marketing, your business would generate $6.50.
70% of teenagers trust influencers more than celebrities.
Before you can take full advantage of influencer marketing, it’s important to understand how it works. Here are several statistics associated with this strategy:
81% of marketers who have tried influential marketing said it really works.
51% of marketers claim to get better customers when they started to use influential marketing.
As much as 59% of marketers increased their budget for influential marketing last year.
Make sure that when you invest on influencer marketing you pick the right ones because most of the good ones would be in demand.
Why Do Brands Rely on Influencer Marketing?
Influencer marketing is somehow a new marketing strategy but it still continues to be one of the top strategy marketers use when they think out of the b?????ox to make their target market trust them. But why should you consider doing it?
First of all, because everyone is doing it, so why not?
Second, when Julius marketing blog made a survey, 90% of the rising influencers stated that they have worked as a brand influencer.
Third, 77% of all the influencers actually work with brands.
Therefore, if you haven’t started your influencer marketing then you already should because most have and it’s a good idea to not be left behind. You might not be convinced yet, but aside from most of your competition is doing it, I’ll let you know more about it.
Here go five reasons why they heavily rely on influencer marketing:
1. It’s more than real
Word of mouth marketing is known to be a very effective way to drive more sales. And 92% of customers say that they would always trust word of mouth recommendations, especially from people they trust more than any other advertising. And 40% of the Millennial generation’s opinion is that their Favorite YouTube personality actually understands them more than even their friends.
As you can see, word of mouth and influencers are really powerful when it comes to marketing. Many people would trust influencers more than celebrities, magazines, and other ways to advertise. When you search YouTube, you will notice that it sometimes could be hard to ignore influencers even if they are unofficial brand ambassadors. But the best thing about this is that you get the chance to reach people who could be out of your league with the help of influencers with a large following.
2. It’s a Social Thing
Way back 2016, pew research center released some statistics:
79% of Americans that go online are Facebook users.
31% of Americans online are Pinterest users.
32% of Americans online are Instagram users.
29% of Americans online are LinkedIn users.
24% of Americans online are Twitter users.
Today, there are a lot of different social media where you can share your brand in but sharing isn’t the only thing you’re after but engagement through them as well. Your customers now expect you to start conversations, and even interactions. And with this, influencers become more powerful. When you partner with them, you are enabling them to have conversations with their target audience as your brand.
3. Consumers want it
Let’s time travel to 25 years ago, what was everyone all about? Television commercials. A lot of companies are spending more and more into television commercials because it’s their way to connect with customers. But here comes the internet and steals the spotlight, today, your customers aren’t that interested in traditional media anymore and the best way to reach them is through the internet.
4. A Positive Impact on SEO
Influencer marketing gives you the ability to get nearer to results because it helps you sales talk to your audience, and that sales talk is being given by people they are actually interested in. But did you know it could also increase your rank in the search engine? Well, yes it can and here’s why:
First of all, it gives you more inbound links that are high in quality. Then, it grows your social reach which actually is one of the factors to rank. Lastly, it makes your brand stronger. Google is looking for all of those things, it’s not about keyword stuffing anymore. And you can get all of those from a good influencer.
5. Track as much as possible
Do you want to lose money? No, right? So make sure that you track. If you aren’t tracking then you’re on the way to losing a lot of money. If you think it would be hard to track influencer marketing then you aren’t updated! Instagram now has a feature that allows shopping tags, and you can now collect all the conversion rates as well as ROI. So basically, you can track a lot of things like:
Your website’s visits, Shares, and likes on social media, Images that are posted online, Social media conversations.
When you work with influencers, you show social media presence to the followers of your influencer without having to look like it’s directed to them (even if it is). And when you find the right tracking strategy, you won’t have to guess if your influencer is giving you positive outcomes and if your investment was worth it or not.
How should you choose your influencer?
Tip #1: Make use of #Hashtags and “lists of top bloggers”
It could be difficult to find the right blogger that has engaged followers but it’s still possible to find them. Start and search through hashtags, and look for the top 9 bloggers for your hashtag. Another thing you can do is search for “lists of top bloggers” on Google and search it by location and type of blog.
Tip #2: Keep Track
Make sure that you always track their information, you can use a CRM for that to make it easier. And if an influencer sends you a private message, make sure to track their information. Some of the information you’ll be needing to track are:
Name of influencer.
What they handle.
How many Instagram, Twitter, Facebook, LinkedIn, and YouTube followers they have.
Their Email address.
The average likes they get on their last 6 posts and photos.
Average comments they get on their last 6 posts and photos.
And it would also be a good idea to save their media kit or track their blog. Make sure that whenever you reach out to them, you track their prices so you can compare them.
Tip #3: Make expectations clear
It could be a bit tempting to just ship a product over to an influencer and send them a coupon code, that could be very wrong. When you talk to your chosen influencer make sure to let them know what you’re expecting from them. Make sure you give them a schedule on when to post a picture, etc. Also, just to be safe, make sure that you both sign an agreement; you never know what could happen. But if you aren’t paying for the post then it could be hard to expect that your influencer would give what you’re expecting. Before anything else, always make sure that you are getting what’s best for your brand, and that includes making sure you know which KPIs are more likely to improve.
How to Identify the Perfect Influencers
Okay, so now you have an idea why more and more brands are getting into influencer marketing. And it might have caught your interest as well so let’s identify how to choose the perfect influencer:
You should have three, a connector, maven, and salesman. They will be the one responsible for communication, creation and connecting different messages. Mavens are the ones who receive and share the ideas they find while the salesman is filled with charisma in order to convince their audience. Connectors now are who creates a network full of different people; all in all, they are word of mouth masters. Always make sure that you have a set standard when choosing because it could be hard to fill in all three profiles exactly.
What else would be more important than reach? If you can’t influence then you basically aren’t an influencer. If an influencer has 1,500 followers that could allow a large number of people to see your product, but if an influencer has 150,000 then that would definitely push your message to the audiences. But then again, bigger doesn’t mean better right away. Their past engagements also matter in order to tell whether their audiences actually listen to them. Some might have more followers but less engagement, and some could have fewer followers but more of them engaged. So you really have to watch their engagements and not just the followers.
Just like mentioned above, engagement of their followers is more important than a number of followers. It would be great to start with a large following since it would let more people aware of your products but would it be good publicity? Would it make people want to try it? You also have to make sure that your influencer’s audience would match and be interested in your products. For example, a fashion apparel model, would she be able to bring conversions to your software business? Unlikely, right?
3. A Natural Approach
Brands and influencers are two parts of influencer marketing. First part is that brands would be paying influencers to influence people about their products. On the other part, influencers would be willing to do it as long as they paid a good amount for it. Both a win-win situation right? Now here’s the catch, there are influencers that would make influencing like plugging, eventually, their audience would notice and the effectiveness wouldn’t last. Basically, just like in traditional marketing, people want to see real value and not just to be sold by something. So when you track our influencers, include those who keep it more natural. It could be more difficult because they prefer those they really use and could give honest feedbacks of but you’ll find one.
Set a Budget, Track Your ROI
And to end this article, I want to remind you that your budget is important. You have to set one in order to not lose money. As I’ve mentioned in the beginning of this article, a dollar would generate an average of $6.50 revenue. So you might have thought about an amount already or you might be measuring it based on how long it is to connect to an influencer, but in influencer marketing, you could easily go overboard. There would be a lot of opportunities but you have to remember to stick to your budget and only release money when it makes sense to do so.
A good way to do this is by tracking your ROI in order to see what’s working and what isn’t, and also allow you to change your strategy in order to increase your budget when you’re capable of doing so. So now that you know everything you need to know about influencer marketing, will you join the bandwagon?