Leverage the Power of Social Media Influencers for Your Brand
Asking an influential person to endorse a product is one of the oldest tricks in the book of marketing. We all grew up watching celebrities promoting brands, which always impacted our purchasing decisions. Influencer marketing has utilized this age-old concept and added social media stars (aka content creators and influencers) to the equation, which made it much more accessible for businesses of all sizes and shapes.
What is influencer marketing?
Influencer marketing is a form of digital marketing where brands partner with influential individuals. They usually have a large and engaged following on social media platforms, such as Instagram, TikTok, YouTube, and others. Their content and interactions build camaraderie, reputation, and credibility with the audience. Brands leverage this reputation by partnering with the influencer to promote their products or services through sponsored posts, product reviews, or other forms of content.
Influencer marketing aims to reach a more expansive and highly engaged audience that trusts the influencer’s recommendations. This is seen as a more authentic form of advertising than traditional advertising methods, as the audience is already familiar with the influencer’s personality and values.
The different types
Nano-influencers: Social media influencers with around 1,000 and 10,000 followers
Micro-influencers: Social media influencers with around 10,000 to 100,000 followers
Macro-influencers: Social media influencers with around 100,000 to 1 million followers
Mega-influencers: Social media influencers with more than 1 million followers
Does influencer marketing work?
The global value of the influencer marketing industry has more than doubled since 2019. It reached 16.4 billion US dollars in 2022. There is a good reason for this craze. 72% of Gen Z and millennials say they follow social media influencers. Plus, a whopping 50% of millennials agree that they trust the product recommendations of these creators.
Clearly, it works. We compiled a list of 5 simple steps to help you nail your next marketing campaign.
1. Be precise about the goals and message
The first step towards a successful influencer marketing strategy is defining your goals. Do you want to reach new customers? Are you thinking about raising brand awareness? Is driving sales your primary motive? Social media stars can help your brand accomplish many goals.
However, begin your strategy by focusing on your brand’s particular needs rather than on broad objectives. With their highly niche audiences, influencers can ensure that your content is served to a specific audience most likely to be interested in your products.
Do not neglect the messaging of your campaign. The best approach is letting the influencers curate the primary content to ensure it is relatable for their audience. However, you can offer suggestions if the messaging does not align with the brand’s values and goals.
2. Allocate a realistic budget
Based on the goals of your campaign, you need to come up with a realistic budget. Go through the standard compensations of multiple influencers because they can vary greatly.
Micro-influencers typically have a niche audience, and many accept complimentary products as payment for the collaboration. Some micro-influencers handle their profiles themselves, while others might be affiliated with a network or agency.
Brands generally need to go through talent agencies to contact celebrities and social media accounts with large followings. The compensation is also much higher for these partnerships. You can also opt for hiring a marketing agency specializing in influencers if you require access to a larger pool of influencers.
3. List all the potential collaborators
Hashtag is an excellent way to find influencers who create content on specific topics. You need to consider a few key points when considering them for partnership.
Follow their content and understand how they share non-sponsored posts and how they promote brands. Follower count is not the only metric for checking if an influencer is compatible with your brand. Look for genuine engagement. Views, likes, comments, and shares can indicate the audience indeed interacts with the influencer.
You should also consider the segment of people who interact with the account. You have found the right influencer if the demographic matches your target audience persona.
4. Contact the content creators
Direct messages are an excellent place to reach the influencers you want to work with. You can also go through their bio and look for any email or contact details. Personalize the content for each individual instead of dropping generic messages in bulk.
Share details of the brand and your mission, so everyone is on the same page. Also, give information on how the collaboration can benefit the creator.
Influencers with a vast following may seem expensive for small businesses with zero to nominal budgets. However, do not hesitate to ask if you think they can help your brand grow. A transparent proposal stating all the advantages of collaborating with your brand can land you the exact creator you need.
5. Track the outcome
Measuring the success of your campaign is essential. The initial goals again come into the picture at this stage. You can monitor user engagement, website traffic, and other indicators and compare them with the expected results.
You can create a brand or campaign-specific hashtag or keyword to track social media buzz. If your marketing goal is focused on sales, you can share affiliate codes or trackable links with the influencer. Every time someone registers or purchases your product using the link, you can understand the source of the referral.
Different campaigns will have different results. To ensure the success of your future campaigns, you must understand the reasons behind the failure of past campaigns.
Social media influencers are already quite famous for their influencing prowess. They can unlock your brand’s true potential by paving the path between you and your target audience. If you have not delved into this segment yet, now is the best time.
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