What exactly is influencer marketing? How does it differ from other forms of advertising? And why should marketers care?
Influencer marketing has become a powerful tool for businesses looking to reach new audiences.
Marketers use various strategies to identify influential individuals and gain access to their followers.
In this article, we’ll discuss what influencer marketing is and the variable for incorporating influencer marketing into a brand’s strategy.
What Is Influencer Marketing?
Influencer marketing uses celebrities, athletes, bloggers, and other influential figures to market brands.
Influencers are those who have large social media followings and have the ability to influence their audience.
Brands use influencers to promote their product or service through paid advertisements, free giveaways, and endorsements. In addition, they can generate significant brand awareness and loyalty through paid or unpaid posts.
The goal is to get them to share valuable information and create excitement around a particular topic, product, or service. The key benefit for brands is that they reach a larger audience at a lower cost than traditional advertising methods.
The Right Influencer
However, this opportunity comes with some responsibility on the part of the brand.
Brands must be careful when choosing an influencer because it’s easy for them to fall in love with the idea of working with someone influential.
Unfortunately, without thorough background research, this can lead to a situation where a potentially ideal influencer promotes products that aren’t aligned with a brand’s values. Therefore, it’s important to ensure the influencer you want to work with aligns with your brand’s goals and values.
Influencer marketing also requires brands to pay influencers fairly. If you don’t pay your influencers what they deserve, they won’t promote your brand in the vision you want them to. Additionally, you can risk a potentially fruitful relationship.
Creating A Plan
When collaborating with an influencer, it’s essential to not just think of the total cost but the project’s goals and establish what you would like accomplished in the front end.
This can include a discovery call to plan out potential posts or how-to videos. Will you provide the content and supporting information, or will they? Of course, all this will affect the cost and time involved in creating the posts.
Influencer marketing has become one of the most effective ways to get people talking about your business online. It’s essential to know how to find the right influencers for your niche to ensure your message gets across.
Why We All Need Influencer Marketing & How We Can Use It
A study showed that in 2022 influencer marketing is set to reach $16.4 billion and 75% of brand marketers plan to include influencer marketing in this year’s strategy. This type of marketing is growing fast and doing well.
And this isn’t just for B2C brands, since 86% of B2B brands find influencer marketing a valuable strategy. That’s a considerable return on investment if you have the right approach.
If you’re only using traditional digital marketing (SEO, PPC, social media, etc.), you’re clearly missing out on a huge opportunity to increase your ROI.
It doesn’t matter if you’re an agency, brand, or business – everyone can benefit from trying influencer marketing.
Don’t believe me? You should. Influencer marketing is not “out of your league.” Here’s why.
Influencer Marketing For Agencies
How many clients does your agency have? That’s how many new influencing opportunities your agency has at its fingertips.
Agencies can use their clients, the ones they like and like them, to help promote their agency for them.
Think of it like receiving a referral or customer review.
If someone enjoys working with you and the business next door asks how they got so successful so quickly, they’re going to tell the next-door business all about your agency and how you helped them.
Case Studies & New Content
Capitalize on this process and ask your clients for video testimonials to become a part of your referral program (create one) and if you can use their results for case studies.
If you’ve been able to impact a client positively, they’re highly likely to approve you sharing the story of how you took them from one to 10.
Gather a dozen different case studies from your past and current clients to publish on your website, social pages, email newsletters, and ads. This isn’t only additional content but content your existing and new clients will appreciate.
You can also make the case study an appealing PDF and share it with the case study client for them to share among their peers.
If you help them reach their goals, they’ll love the PDF filled with graphics, charts, and impressive numbers to share with other business owners.
Trial By Error
Another way to utilize your clients for influencer marketing is to ask your clients to test out a new product.
If they’re a big client of yours, it’s appropriate to let them know that your agency is trying to innovate with all of the tech advances, and you want to try a new strategy or product with them as a test.
FREE Of Charge
If things work out with the test, woohoo! You’ve added another section to the contract. And you have a new service or product to charge for in the future.
If things don’t work out, you get insightful and honest feedback from the client and know how to fix the product or plan.
One of the most significant ways I see brands utilize influencer marketing is by partnering up with other brands.
Before I get too deep into this, I want to clarify that there are prominent corporate players like Sprint and Blue Apron. And they’re also individual brands like famous Instagram users and YouTube celebrities.
A brand can be an individual brand, like you trying to grow your role as a digital marketer in the industry. However, it can also represent a larger entity for cosmetics and skincare like Maybelline.
Now, back to the brands and the whole influencer marketing idea. Brands will partner together in campaigns to help widen their audience with influencer marketing.
They can use relevant brands in the same industry or reach out of the spectrum and partner with entirely different brands to increase their exposure to a new audience.
When you work with an influencer in a different industry, you get a level of influencer where you can capitalize on the new audience. Be strategic in who you reach out to and ask to partner up in a new influencing campaign.
Partnering with the wrong brand will profoundly impact your brand’s reputation and possibly ruin it.
Red Bull partnering with Coca-Cola for a new content campaign also wouldn’t be the best of ideas. On the one hand, Red Bull is heavily involved in extreme sports. But, they’ve chosen that angle due to their actual product, an energy drink named Red Bull that essentially “gives you wings,” to be extreme.
Sure, the Red Bull athletes could do an incredible stunt riding a mountain bike down the ledge of the mountain holding both a Coca-Cola and a Red Bull can, but what would be the point?
It wouldn’t make sense because, technically, the two can be seen as competitors. They both are on-the-go drink manufacturers.
Instead, Red Bull could partner with Nike and do a content campaign featuring Nike’s new apparel line, Red Bull’s energy drink, and summer sports.
Just because your brand is in the same industry as another doesn’t mean a collab will work. It’s important to research how your consumers will react to the ad.
We can most commonly recognize influencer marketing when businesses do it.
If your business makes pipes for the plumbing industry, head to that list of the most famous plumbers and start reaching out.
Doing outreach is a huge part of influencer marketing. It almost feels like putting on a public relations or journalist hat for a second as you try and narrow down your influencers.
Once you’ve found an influencer who has agreed to help promote your product, don’t just stop there. The more influencers you have, the more brand exposure you get, as well as trust.
The word will get around if one of the most famous plumbers uses your pipes for repairs. Other plumbers will trust the renowned plumber and follow in their footsteps to purchase and use only your pipes.
When To Pay An Influencer
Sometimes, you don’t need to pay an influencer. Instead, samples of the product you’re asking them to promote, discounts, or free services usually suffice.
It changes and becomes a more costly strategy when you pick who the influencer is and depends on the type of content you want.
The bigger the influencer, the more they’ll want.
If you’re aiming for that Kardashian type of exposure, you will need to break out the wallet. And the credit card. And possibly your mortgage.
Influencers Who Cost, A Lot
If you’re a brand, business, or agency with goals like a Kardashian type of exposure and the budget to match. Then, by all means, reach out to your lawyers and start preparing contracts for when you lock in those influencers.
Make sure your contracts clearly state the expectations of the influencer. For example, if you want them to run the content by you before they publish it, specify that in the contract.
If you want the influencer to only be able to promote your plumbing pipes and not work with any other pipe companies, state it in the contract.
Influencers Of Little To No Cost
For the rest of us, focus on the more affordable influencers. These people may already invest much of their time promoting your brand because they love your product or what you do.
Death Wish Coffee is an excellent example of this.
People love their product, the ridiculously strong coffee that comes with a side of sarcasm. The brand speaks its customer’s language, making it fun for customers to engage and promote the product themselves.
This coffee company can monitor its hashtag mentions and unlock hundreds of potential influencers that would love to receive a free month of coffee for posting more about their brand.
Look at what kind of mentions your brand, business, or agency is attracting online and follow the conversation. You’ll quickly discover who’s talking about you the most.
Finding An Influencer
Then, look at their followers if they have a healthy following reach out and see if they’d be interested in partnering up with you on an influencer campaign.
Don’t stop reading. I know those of you who are rolling your eyes yelling, “NO ONE MENTIONS MY BRAND!”
Don’t worry. I’ve got a solution for you, too. Look at your big competitors. Think of the Red Bulls and Coca-Colas of your industry.
See what kind of mentions they’re getting and from who. Then, reach out to those influencers and pitch away.
You never know who will say yes unless you ask.
Plus, they may not want as much as you think or even be willing to promote for free after getting to know more about you and your business.
Nowadays, there are numerous influencer marketing tools out there that can help connect you with the right people and brands. So, if you’re having trouble finding people you want to work with, it can be beneficial to deliver one of the tools a try.
Influencer marketing has become much more than just a buzzword.
Marketers have been using influencers to promote their products for years, but brands are now using influencers to build customer relationships and create new revenue streams.
By leveraging the power of social media platforms like Facebook and Instagram, marketers can connect directly with consumers through influencers.
This can help to increase brand awareness and drive sales. It can also open your brand, business, or agency to new audiences.
As we get closer to the end of this year, try strategizing the influencer marketing opportunities you have out there.
Featured Image: Anton Vierietin/Shutterstock