Influencer marketing is a form of marketing where brands partner with public personalities to endorse their products and engage their followers through content driven marketing campaigns. Social media creators on platforms like Youtube, TikTok, Instagram, and others wield tremendous influence with their audience and through creative content, can impact purchasing decisions. Infact, 61% of consumers trust influencer recommendations when making a purchase.
Influencer marketing gives brands the ability to speak directly to their target customer by leveraging user generated content (UGC) to tailor experiences that are sure to resonate with them. Brands can build trust and create genuine relationships with audiences who are passionate about their offerings, creating opportunities for conversion into long-term customers.
Influencers come in all sizes and are categorized based on follower count.
Nano-influencers: 1K to 10K followers
Micro-influencers: 10K to 50K followers
Mid-tier influencers: 50K to 500K followers
Macro-influencers: 500K to 1 million followers
Mega-influencers: 1 million+ followers
Influencers in every tier offer their own unique benefits and challenges. Mega-influencers have massive reach because of the shear size of their audience while micro-influencers may offer higher engagement rates because of their smaller, active following. With brands earning an average of $5.00 for every dollar spent on influencer marketing, it’s important to identify and collaborate with the right creators.
A few things to consider when trying to identify the right influencers for your campaigns are:
1. The number of followers the influencer has.
2. Is their audience a good fit for your brand.
3. The frequency at which they post.
4. Are they posting original content or repurposing content from others.
5. The current engagement rates of their posts.
Benefits of Influencer Marketing
- Acquire high quality customers
- Build brand awareness
- Communicate directly to your target audience
- Lower marketing costs with User generated content
- Increase brand advocacy
- Boost sales conversions
- Gain credibility, trust and loyalty
- Increase your follower count
- Increase organic traffic and improve SEO rankings
- Reach niche audiences
- Avoid adblockers
- Generate fresh content fro your audience
At the end of the day consumers would rather take part unique experiences with the people they follow as opposed to being marketed to with generic display ads and paid celebrity endorsements. Influencer marketing gives brands the opportunity to provide their ideal consumer with authentic, personalized experiences that build brand affinity and lead to actions that impact your bottom-line.