I first put this information together for my summer intern, but thought it would be a great educational opportunity to help you understand what influencer marketing is, and why it's an essential area of discussion in marketing for virtually every company.
What is an influencer?
Someone that inspires, or has the power to inspire, consumers to buy, engage with or experience a product or service. They may have a large or small following, and generally offer their ‘review’ ‘recommendation’ or ‘expertise’ on said product or service.
How do you determine what makes someone an influencer?
Their content is consistent, sound and feels real. The number of followers doesn’t hold as much of an engaging impact as how strong their written and visual communications do. Most influencers have media kits that detail the statistics on their social media platforms and website that also highlight successes, past projects and/or past partnerships.
How do you decide who is a good choice?
First, decide what the goal is. Do you want to sell a product, share a message or use an influencer and their platform to education an audience? Once your goal is set, research popular influencers and see how they create their content, engage with their audience, etc. to determine if this influencer can accomplish your goal. You’ll want to make sure there is a good budget to work with - you can often get the prices from influencers on their website, or by requesting via email the cost of their posts and how that breaks down (i.e., the number of posts you get for the cost, if you can have your own graphics, what you’ll need to send or distribute, etc.) Finally, compare a few different options and secure a contract with the influencer you feel has the strongest ability to deliver on your goals.
A few goals you can set:
- A specific number of new followers
- A specific number of likes on a photo/video post
- Make a specific number of sales in a specific timeframe, or on-going with purchase tracking through codes/links/etc.
* We set goals for our clients to benchmark the campaign, and later evaluate what was successful, with recommendations for future projects
Size doesn't matter in influencer marketing in 2018 (source)
The market was estimated to be worth $2 billion in 2017 and is set to reach $10 billion by 2020 (source)
Scaling campaigns is become one of the most essential ways to keep up in the quickly changing industry (source)
We’ve seen increased value from the “always-on” relationships between brands and influencers (source)
Micro-influencers’ engagement on social is actually higher than that of celebrity influencers (source)
If you think your brand is ready to work with influencers and needs a press liaison, I'd love to chat with you about your budget and options. Get in touch with me here!