If you want your business to keep up with the ever-changing marketing landscape, you have to be flexible. That means adopting new strategies and worthwhile trends, including influencer marketing. But, what is influencer marketing exactly?
What Is Influencer Marketing?
Influencer marketing, which is sometimes referred to as brand influencing, is a form of online marketing that makes use of influencers and content creators. Businesses use influencer marketing as a way to promote their products and services. While it is widely used to increase awareness of a brand, it can also lead to conversions and can have a positive impact on a company’s bottom line.
Due to its prevalence today, a lot of people mistakenly believe that influencer marketing is a fairly new concept. But, it works similarly to celebrity endorsements, and the only aspect that’s changed is the widespread availability and reach of the strategy with the advent of the Internet. Beyond that, the fundamental ideas behind it remain the same.
As influencer marketing began as a budding business strategy way back in 2006, influencers were mostly made up of bloggers. Fast forward to 2022, and the majority of influencers can be found on social media.
But, what is a social media influencer anyway? Social media influencers are content creators and personalities who develop a following on social platforms such as Facebook, Twitter, Instagram, YouTube, TikTok, and the like. These influencers usually start out small and build up a strong follower base over time as they share and publish quality content. Companies then enter the picture by offering these influencers lucrative deals in exchange for promoting their brand or product.
Some influencer marketing examples include:
- FabFitFun partnered with celebrity chef Ayesha Curry
- American Eagle collaborated with TikTok star Addison Rae
- PlayStation tapped YouTuber Felix Kjellberg (PewDiePie)
Influencer Marketing Statistics
This type of marketing is a tried-and-tested form of marketing that can achieve great results. Yet, some companies remain hesitant and refuse to embrace it. If that sounds all too familiar to you, here are some statistics that may change your mind:
- In 2021, influencer marketing has increased to represent $13.8 billion.
- Nine out of 10 brands are using some form of influencer marketing.
- For every $1 spent on influencer marketing, businesses are gaining $5.78 in ROI.
- 90% of survey respondents think that influencer marketing is effective.
The Benefits of Influencer Marketing
Some people might think that this form of marketing is just a fad or short-term trend. But, it’s only going to gain more momentum from here on out. If you haven’t yet, this is the perfect time to jump into it and reap its many benefits.
1. No Shortage of Influencers
There are many influencers on various social media platforms, and they are not going anywhere. More people are poised to enter the influencer game, either as a full-time career or a side job. With such a large influencer population, companies will have more options to choose from. It also means that influencers have a better chance of carving out a niche, which is good news for businesses looking for a specific audience to market to.
2. Standards Have Been Set
In the past, influencers would just run their pages on their own. This meant having to deal with brand deals and negotiations alone. Now, though, more and more influencer marketing agencies have been popping up. The standard has been set, with influencer marketing companies representing various social media influencers. This means companies can simply connect with an agency to help them find the best influencers for their desired audience and strategy.
3. An Abundance of Content
Bloggers were one of the first forms of influencers, with blog posts making up a large chunk of content. As social media platforms evolved and arose, though, so did content creators. Now, influencers can market brands and products through photos and videos, too. There are also different kinds of videos, both long-form and short-form, not to mention live streams.
How to Adopt an Influencer Marketing Strategy
Making the decision to enter the influencer game is just the first step. After that comes all the work. Here’s how you can create your own strategy. escort gaziantep , gaziantep escort , erotik film izle , rus escort , seks hikayeleri
1. Choose a Platform
There are so many social media platforms to choose from nowadays, and more will likely come. First, you need to choose which influencer marketing platform you want to use. Make sure to go with one that fits your brand. For example, a clothing company has a better chance of getting results with Instagram influencer marketing or influencer marketing on TikTok. On the other hand, a tech company may find more success through Twitch or YouTube influencer marketing.
2. Set a Budget and Timeline
Once you’ve got a platform and campaign in mind, it’s time to set your budget and establish a timeline. When creating a timeline, make sure to allow time for planning, implementing, and evaluating your influencer campaign.
As for your budget, remember that the amount you’re willing to pay an influencer will have a direct impact on which influencer/s you can book. If you have a smaller budget, you might need to go for lesser-known influencers. An influencer with a larger following has a wider reach, which translates to a higher paycheck. Kim Kardashian, for instance, charges $300,000 to $500,000 per Instagram post, even going as high as $1 million in some cases.
3. Find and Contact Influencers
Now it’s time to sit down and do some research. Look for influencers with a follower base that matches your target audience. You may also want to consider how famous the influencer is to gauge how much they might charge. As previously stated, there are agencies made for this type of thing. As such, it may be easier to partner with an influencer marketing agency. Agencies are not only more convenient, but they also give you more assurance that the influencers you’re working with are the real deal.
4. Establish Your Message
This is the point where you need to establish what type of content you want. Typically, brands go for a more personal and informal tone with their posts. If you’re going for a video campaign, make your expectations clear. How do you want the influencer to promote your product? What words should they use when describing your brand?
5. Track Your Campaign
Unlike some online marketing strategies, influencer marketing is not something you can just set and forget. You will need to carefully monitor your campaign and make sure your collaborator holds up their end of the deal. Keep in mind that influencers do this for a living, so you’re likely not the only brand they have a partnership with. They are balancing multiple brand deals and have to promote many products or services. It is easy to fall behind on deadlines.
You will also need to fine-tune your strategy based on the results you get. Take some time to analyze what’s working and what’s not. From there, you can tweak your campaign and make it better for the next time around.
What Is Influencer Marketing? Answered!
Influencer marketing is here to stay, and brands shouldn’t make the mistake of getting left behind the times. If you think you can benefit from this marketing strategy, then it’s time to embrace it. Better late than never, right?
While Tanner Grey does not provide influencer marketing, we do offer a wealth of other valuable services, including web design and digital marketing. Call us today at 844.500.1339 or contact us online to learn more.
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