What is Influencer Marketing?
Defining an influencer can go pretty in depth, but to put it simply, it is someone who has a loyal following on social media. There are a variety of influencers of different sizes. Firstly, there are ‘nano’ influencers, having a following of 1,000 to 5,000 users. Then there’s ‘micro’, having a following of 5,000 to 100,000, and finally, ‘macro’ would be anything above this. Brands can collaborate with influencers, on a paid or gifted basis, and in turn, they will create promotional content for the brand, product or service. Influencer marketing has proven hugely valuable, but is that to say it will work for your business? This blog post is going to talk you through why influencer marketing may, or may not, be beneficial to your business.
What Are The Benefits?
51% of marketers say that influencer marketing has helped them to acquire better customers. This is because the right influencer partnership should put your business directly in front of the right audience. With this in mind, let’s get into some of the benefits…
- Trust and loyalty
Users follow influencers as they trust them and enjoy their content. When someone consumes content from an influencer that they trust, this can influence their buying decisions, which can increase your businesses visibility.
- User Generated Content
36% of marketers believe that ‘UGC’ performs better than branded posts. People are more likely to trust and engage with influencer content than potentially biased branded content. Another benefit of UGC is that influencers are ultimately content creators, and can come up with fresh and innovative ideas for your product or service, breathing new life into your brand image.
- Reach
72% of Gen Z and Millennials follow influencers on social media, making them valuable in reaching your target audience. Despite this, it’s important to not just look at following, as smaller influencers often have a more engaged audience.
- Audience Insights
Influencers can provide your business with some valuable insights as to how potential customers behave and interact with your product or service. You can then cater this to your marketing strategy, leading you to potential sales, increased loyalty and knowing your user base better as a whole.
Choosing The Right Influencer
So, all of this sounds amazing, but choosing the right influencer is pivotal to your influencer marketing strategy. To decide whether it is worth investing there are a few things you should consider.
The right influencer
Looking at their overall engagement and audience is much more important than looking at the cost of an influencer, the budget should come second. When selecting an influencer it is important that they align with your brand values and actually believe in your business and want to work with you. An influencer who is passionate about the product or service and not in it for the money is key. Another thing to note is that the influencer must be transparent with their audience as to whether the collab is paid or gifted, as there can be repercussions if it isn’t clearly stated. This could result in your brand image being tarnished.
The right channel
There are a number of different channels you can use to promote your business, including TikTok, Instagram, Facebook to name the most popular ones. Looking at your target audience to assess which channel you would like to utilise is key. If your target audience is Gen Z, then is there much point in using an influencer on Facebook? Conducting research on your current and potential customers is a great way to figure out which platform would be the most beneficial.
Metrics
When deciding on an influencer, it is helpful to know which metrics are most important to your business and what you think will give you the best ROI. This could be shares/sends, likes, comments or views. Through analysing an influencers page, you may be able to find out where they get the most engagement, and consider if this aligns with your brand goals.
Where Should You Start?
All of this may sound quite complex and daunting, but rest assured you’re not alone! Influencer marketing becomes easy when you partner with an agency like ours!
If you’d like to hear more about how our influencer marketing services can help you, then get in touch. We have a range of different packages tailored to suit your needs. We’d love to chat!
