Learn what Influencer Marketing is, the benefits of influencer marketing, and some ways to implement influencer marketing strategies.
With 53% of the globe on social media today, one of the places that marketing should be allocated is in the social media arena. There are tons of different platforms that many different types of audiences turn to and use. It also is easy, today, to make it big or become a person who “influences” others to use or buy a certain item. One overall marketing strategy that is used by businesses is Influencer Marketing. This could also be seen as a branch of a Brand Ambassador. You will be able to find out more about what influencer marketing is and what are the benefits of influencer marketing. As you read to the end, there will be some examples of best practices reading influencer marketing strategies.
First, a definition of influencer marketing.
What is Influencer Marketing?
Influencer marketing is a way to get your brand out there by reaching a mass audience. The key behind reaching a mass audience is having an influencer who markets for you. This tends to be a person with a following already,. of their own. As mentioned earlier, influence marketing could be seen as a branch of a Brand Ambassador. This is because both promote your product, but the difference is how they promote it. Brand ambassadors typically promote by approaching others, wearing your company logo, or gaining a direct interaction with the audience. Influencer marketing is different as they would be promoting your product by use or reference, not directly in contact with the audience.
Why Use It?
Well one of the first things that you may need to know is that half of the population are millennials and younger. This is important to know because the platforms that they use is where influencer marketing happens. Knowing that half of the population are in this category, they are most likely to use tools such as ad blocks, skip functions, etc. to not view a paid advertisement. So, what are some ways around this? Well, you could use influencer marketing to promote your product, casually. You would want to use this style of marketing so that it provides your business with exposure to a mass audience with minimum work from you.
Here are some stats that may give you an idea on why you should use influencer marketing:
- 92% of marketers believe in the effectiveness of influencer marketing and allocate (and raise) budgets for this service.
- The ROI is $18:$1
- 8 out of 10 consumers made a purchase after seeing the item from an influencer.
Now that you have some satisfying stats, let’s talk about the benefits of influencer marketing.
What are the Benefits of Influencer Marketing?
The benefits of influencer marketing range from brand awareness to brand appreciation. Some benefits may seem small, but they can help your brand in the biggest ways. Let’s take a look at some of the benefits and a justification on why they are a benefit.
Benefit 1: It helps build brand awareness in a relatable or natural way.
Justification: Brand awareness is the most important and first step in reaching your target. If no one has seen you before, how will they know about you? And the way they know you without seeing you is by someone else seeing you. Simple. And by just having your label in an influencers photo or video gives you an advantage and access to an audience 100 times more wide than if you were to stick with the classic store-front or ad. The influencers followers and audience are already watching something that has your brand in it and do not have to look for you. Your brand is subconsciously already in their mind.
Benefit 2: People trust people. Not businesses.
Justification: You have probably heard this before but it is still the truth. The reason why these influencers have such a big following in the first place is because people relate to them and enjoy their content. It is natural for someone to like someone who is their age and shares the same humor or interests as them. What is not so natural is someone who relates to a business? Moving on, you should also already be aware of how and why testimonials and reviews are effective. About 75% of the population follow and trust influencers. Having a real person that real people know and trust is actually the real benefit.
Benefit 3: An everlasting marketing strategy.
Justification: With the amount of influencers we have today and the extremely low barriers of entry to become an influencer, plus the availability and usage of technology, influential marketing is bound to stay and grow as the years go by. It is better to get some experience as soon as you can so that you can continue to grow your business and expand your audiences.
How Do I Implement an Influencer Marketing Strategy?
You can find the best way to start using influencer marketing strategies here:
- Know your audience.
First things first, you will need to keep up with the trends and who are the prominent influencers. Then, along with this step, you will need to know your initial audience and who your future audience would and could be. In other words, who do you want to sell to, and who could you sell to. The reason for knowing who your audience could be is because everyone is different and could be following an influencer for a different reason.
For example, an influencer who typically does videos or posts regarding traveling, their audience could be those who like to travel, the video/photography, or the adrenaline that occurs when traveling. Those are three completely different markets and audiences, however, they may be interested in the same product. Say, a phone or camera. That one product would be perfect for them to use to snap a stunning photo of the views and record the amazing adventures they have.
- Set your goals and the method of getting there.
After you know who you want to reach, you will need to set your goals and find how you will measure your success. These goals would be how you are looking for the audience to respond.
Some examples of goals could be to increase your website views. If so, then you would provide your influencer with the link and ask them to promote it. If you are looking for sales, provide an individual discount code to your influencer to share with their followers to use on your website. Do you want to build brand awareness? Provide your influencer with products that they could wear such as a shirt or with your logo on it.
- Budget for your Influencing marketing campaigns.
Of course, just like most marketing techniques, influencer marketing comes with a cost. Especially if you are wanting one of the most prominent ones. In the statistics pulled from Oberlo, it is said that nearly all marketers invest half of their budget towards influencer marketing. Now, this may seem high, but influencers are influencers for a reason.
The rate of influencers depends on the type, social platform used, and the amount of followers they have. Some of the different types of influencers are celebrities, micro, vloggers, and various areas of interests. The average pay for influencers is per post and the more followers they have, the more they can charge. This is completely justifiable too as you would be reaching a larger audience, however, in the long run, will most likely be a huge ROI for you.
- Determine the platform.
As you know, there are many platforms out there in the social media arena. Each one has various demographics and influencers. Some of the biggest platforms are Instagram, YoutTube, and Facebook. These should be no surprise and should be on the top of your list when deciding which platform you will use. One of the most popular and always used by marketers is Instagram. Again, each platform has different demographics and the influencers will have different rates as they have different counts of followers. You will want to choose the platform that best fits your brand and products.
For example, if your products are energy drinks or makeup, YouTube may be a great option for you. There are many tutorials for makeup artists and gamers who could easily promote your products. If you are in the fashion and accessory field, Instagram would be the best choice as there are many influencers who post their outfits.
- Choose your products.
Choosing what you will give the influencer to market will be the most important part in your influencer marketing journey. Will you be wanting to market your latest product, most popular, pre-release?
These influencers are creative and will most likely find a fun way that they know their audience will be able to notice and consider your product. When you find an influencer you can leave it up to them to promote your product or you can provide some instructions. This is important when it comes to more delicate or specific products. In the end though, letting your influencer choose the best way to promote your product is the best choice.
- Find your influencer.
This should be someone who aligns with your brand’s values, image, and is suited to use your product. Their audience will most likely be who you are looking to target. You may also want to consider someone who might have multiple audiences. There are tons of influencers out there and in a variety of areas too. Here is a list of influencers by industry.
For example, if your products are for pets, you would not want someone who doesn’t have pets to display your product. That could come off as forceful and not natural for someone to consider. Instead, perhaps get a pet influencer. One who has a following behind them and could wear your pet accessories in their photos.
Influencer marketing is one of the best practices to get your brand out there. It is a common practice that is used with many marketers and is proven to be effective. If you are looking into doing influencer marketing then make sure you have a budget and a clear understanding of who your audience is and will be. These are some of the important factors to consider before you fully implement influencer marketing strategies.
When you begin to gain your customers and traffic to your website, you will want to ensure that it is optimized so that they can find you and want to stay. Here at Techna Digital, we are experts in providing website optimization to help stimulate business growth. Reach out to us if you are wanting to optimize your website and grow your business.