Using famous and popular people to promote businesses is not a new phenomenon. If you search for the term “Influencer Marketing” on Google you will get about 14 million search results. It is the new hot thing in online marketing and everybody has their own definition of what it is and how to do it.
The Challenges You Face With Influencer Marketing
- All of the resources you can find online have their own take on influencer marketing
- Everybody disagrees about who benefits from doing influencer marketing
- And finally, there are about 14 million people telling you how you should do it!
So it is totally acceptable if you are confused by now.
Various Definitions Of Influencer Marketing
Here are some of the definitions we have come across online:
- Using influential people to spread the word about your business on your behalf.
- A marketing method focused on specific individuals.
- Promotion via influential people which can be very powerful.
- Integrating the influencer’s social reach into your own marketing efforts.
These definitions are not wrong. However, they are not totally accurate in my opinion. Allow me to give you my definition:
“Influencer marketing is a way of engaging experts in your niche with active networks to help you achieve your desired business results”.
The Wrong Approach To Influencer Marketing
Many people think that influencer marketing is all about spamming the influencers with requests and filling their bank accounts with money to gain exposure and profits. That’s not how it works!
Influencer marketing is all about creating professional and profitable relations that benefit both you and the influencer. Co-creation (Creating content together) is the key to building strong relations with influencers. If you do this right, both you and the influencer will gain credibility and ultimately generate more profit.
Even though you will have to pay some of the most popular influencers for their services, you should still work with them. A 100% pay-to-play model is not going to work for you. If you want to do that kind of marketing, you should look into PPC marketing instead.
Does Influencer Marketing Work For Your Business?
In most niches, this type of marketing works really well, but it doesn’t work for all businesses.
Even though there are influencers in every niche you can think of, you can’t be certain about how your target audience will respond to content from influencers who know it all.
Finding The Right Influencers For Your Brand
When you are scouting for influencers to work with in your niche, it’s important that you do thorough research. It is tempting to go for the most popular influencers because they have the biggest social reach.
Doing This might work out, but they are not necessarily a good fit for your brand. If you want success with influencer marketing, you need to find people with values that are similar to yours and a following which resembles your own target audience.
To get the full benefits of this type of marketing, you should work with multiple people ranging from up-and-comers to popular and renowned influencers.
Remember that your main priority should be to find the best fit for your business. That way you have way better chances of making profits from your influencer marketing campaigns.
Plan Your Campaign Content With The Influencer
The people you choose to work with might have a following that resembles your target audience perfectly, but if the content you want to promote doesn’t fit the influencer’s style or brand, it will fail.
That’s why you should plan your campaign with the influencers to find out what kind of content that resonates with their followers.
The influencers also know what type of content gets the most engagement from their followers which is super valuable information. By leveraging this, you can tweak your content to get the maximum return on investment out of your campaigns.
Influencer Marketing Is More Than Building Brand Awareness
Huge companies invest millions of dollars each year in building brand awareness through influencer marketing. To give you an example of this, let’s look at a post on celebrity Kendall Jenner’s Instagram account.
While every brand should have an awareness strategy, influencer marketing can also be used to generate more profit. Instead of speaking in general about CalvinKlein, Kendall could have featured a specific product or email list. That way the campaign would be much more effective!
What Does influencer Marketing Cost?
Like most other types of marketing, the cost depends on several factors. The most popular YouTubers and Instagram celebs will charge you a lot more than up-and-coming people with a smaller social reach. A single post will also be cheaper than a longer campaign with several posts.
Most people handle the influencer business themselves. But the most successful influencers have managers and agents to negotiate the price for their services. This definitely also affect the overall price of influencer marketing.
Remember To Follow The Law
In most western countries influencers have to clearly state that the content is sponsored. Keep this in mind when you are working with influencers because you might both get in trouble if you fail to do this.
In textual content like tweets, Facebook and Instagram posts you can use hashtags such as #sponsored and #sponsoredby #yourbusinessname
In Youtube videos, you have to mention the sponsorship at the beginning of the video and/or in the description below. This is also a great way to get some backlinks and free traffic for your website!
If your content is being promoted on a blog the author also has to state that he or she is sponsored by you.