07 Nov Influencer marketing: It’s not just a buzzword. It works.
What is Influencer Marketing and why is it so hot?
Small to big brands are using influencer marketing to drive highly targeted organic traffic to their website. In the simplest terms, you are paying to use someone else’s audience to promote your product/service/website and in return you recieve exposure. This is a better approach than broad banner ads and non targeted marketing because you can hand pick who you want to share your content with. An influencer typically has a good amount of followers and are actively engaged. Because of this, they have an active relationship with them. That means influencers play an active part in their daily purchasing decisions
These influencers can range from a 5,000 micro-influencer to a sports personality like the GOAT Ronaldo. Remember, influencers all share a similar trait–active daily influence on their audience and followers. The question is, will you capitalize?
1. Host Giveaways https://www.instagram.com/p/By8KVdDCPBr/
You have probably seen giveaways on social media before. It is probably the most popular campaign to run because of simplicity and the mutual gain for both parties. In this case, the influencer is trading brand awareness for your brand for a highly engaging post that would attract new followers to their page. The most common tactic is to share and tag a few friends in the post. Your end result is capturing new followers/emails/ leads that transfer to customers.
2. Social Media Takeover https://www.instagram.com/p/BzBfgzMnKDc/
In this example, you have Wells Fargo who has sponsored this post to allow for the USA women’s soccer player to takeover the Fox Soccer Instagram account. A takeover is especially powerful for businesses wanting to improve their social reach. An Instagram takeover is a great form of brand awareness in partnership with a relevant influencer.
3. Affiliate marketing:
A great way to increase sales while marketing with influencers would be affiliate marketing. You can share links and coupon codes that can be traced back through your sales tracking sites that these influencers have shared. In return, the influencers will receive compensation for promoting your brand and creating a sale. This is a great program to measure which influencers will deliver for you. A good example is how Nikkie Tutorials uses her YouTube to share her code in return for commissions.
4. Sponsored Social Media Content
This is for bigger brands wanting to typically use bigger influencers. This can be a higher investment but if done right, it can translate into something highly rewarding. For example, star NFL Wide Receiver Juju Smith-Schuster was an influencer for @bmwusa. https://www.instagram.com/p/Bx5DIY1lTff/
BMW did this because they view Juju’s Instagram audience as one customer profile of BMW’s. Now, influencers are very prominent on Instagram, they are on every other social channel as well, but Instagram is the Influencers main playground.
If you have the ability to share free samples to influencers then perhaps sending some of your product would help with creating honest testimonial style reviews. That will help with brand awareness and you will find people that want to be a part of your brand experience. The power of free is real. Reviews are some of the most engaging pieces of content on the internet.
Now that you have some examples of how you can utilize influencers you start by testing different influencers in different marketing and optimize as you go.
We have done this for many clients, and each case is different and you will make some surprising discoveries that will help you with other marketing decisions.
Now that we know about ways to utilize influencers let’s touch on why you should add this to your marketing strategy. Remember influencer marketing is the highest growing form of marketing for a reason.
- Affordable: just like most marketing, you can pour as much as you want in one service, but with influencers, you can see results and quantified what worked much quicker than others based on ROI alone. From there you can find your sweet spot and spend as much as you want and still get results.
- Easy to target: We pick our influencers carefully–you can easily see who you are marketing towards with research. Why is this important? You already know who you are going to bring in to make a purchase.
- Social Influence = Sales: 22% of people between the ages of 18-34 reported that they had made a larger than average purchased because an influencer was backing the product.
- Fast Customer Acquisition: Influencer marketing campaigns are fast, and that’s why most are turning to it if your primary focus is gaining new customers.
In my early stages at Western Bagel I believed in the product, we had the best low-carb and high protein bagel selection on the planet and it still tasted great. I didn’t really understand how desired the product was until 6 months later.
Western Bagel is a great example, they were new to Instagram and are in the industry of fitness and wellness where influencer marketing is very effective.
The issue wasn’t the product, it was the brand awareness, and as described above the exponential growth from influencer marketing was fast, organic, and affordable.
Within that 6 month period, the brand grew their customer base by more than half, grew their Instagram followers over 10k and increased sales by over 114% based on weekly revenue.
After you have had success with influencers, the success is exponential, no longer you will need as much outreach as you had, and your brand will benefit as the social community will know you are trusted. In turn, their network will see that trust, and that will get you that close to acquiring new customers.
Western Bagel continued to benefit from influencers as they literally lead them to a new customer base. The products were built for those on a low-carb diet. As they became fitter, that lead them to other diets that encouraged protein.
This lead to the discovery of a new customer base with a high purchasing power. People that were counting macros and that train for bodybuilding swimsuit competitions.
Since that success, Western Bagel has continually used influencers and has even scaled up with how they verify the success by way of affiliate marketing.
Which type of influencer is right for me? In regards to Western Bagel, they saw most of their success with Micro and Nano influencers. They even tested out Mega-Influencers but after experimentation, they saw most of their success with micro and mid-tier influencers due to the ability to create a human connection.
Types of Influencers
- Nano-influencers – social media users with 1,000–10,000 followers
- Micro-Influencers – those with 10,000–50,000 followers
- Mid-tier Influencers – social media personalities with 50,000–100,000 followers
- Macro-Influencers – established influencers who boast 500,000–1,000,000 social media followers
- Mega-influencers – social media powerhouses, close to the status of celebrities with 1,000,000-5,000,000 followers
- Celebrities – personalities with over 5,000,000 followers
How do I get an influencer to post my product? If you truly believe in your product, especially if it is consumer-facing than there is an extremely high chance there is a community for you. Once you identify that, then that’s where the influencer can step in and really bring your brand/product to the next level.
Luckily for you, we do the heavy lifting. We will do the research and negotiate the best way to bring your product to a community of potentially long time customers based on significant research.
Ready to get started, let’s set up a time to speak more about how we can help.