Influencer marketing is all the rage, but is it worth it for your brand?
Influencer marketing is a type of marketing where influencers provide recommendations and product placements to their followers on social media.
Influencers typically have domain expertise and social influence that allows them to effectively reach customers and prospects. It also provides a fun and informative way for consumers to learn about your brand’s products and services.
In this article, we discuss influencer marketing, how brands find influencers, and the challenges that influencer marketing poses.
Why influencers appeal to brands
Influencer marketing is effective because social influencers have a high degree of trust in their followers. When they endorse a product or service, it is perceived by the brand’s customers and prospects as a form of social validation.
Otter PR spokesperson and brand strategist Chandler Redding told CMSWire that one reason brands are interested in working with influencers is because they deliver results. Told.
“Influencer product reviews are very effective,” said Redding. “Think of it as the best testimony for your brand. When an influencer promotes your brand, he uses a unique style that your branding guidelines usually don’t allow.”
An influencer’s personality and style represents a brand, so it’s important to make sure the influencer matches the company and its products and services.
“It’s as if a serious corporate brand like Dior, which traditionally advertises in high-end, classy ads, asked Jimmy Fallon to share his new cologne on his Instagram,” said Redding. explained. You can see that they are as sophisticated as they usually have. ”
Brands are often interested in working with influencers as they offer a high return on investment (ROI) compared to other marketing efforts. Dara Busch, co-CEO of 5WPR, said that by 2021, influencers will see the value of his marketing grow to $13.8 billion, with brands averaging for every $1 he spends on this type of marketing. said he made $5.78.
She added that influencer marketing has received a lot of attention over the past few years. “Influencers can be anyone. They can be makeup artists, video game streamers, bloggers, and even marketing executives for her.”
Additionally, Bush said influencers don’t need to have a large following if they are creating content in a niche that the brand is interested in.
Related Article: Is Influencer Marketing Right for Your B2B Marketing Plan?
How are influencers categorized or categorized?
Influencers are categorized based on the number of followers they have on a particular social media platform. Influencers include celebrities in music, TV, film, and other media, as well as niche content creators who have a large following through TikTok, YouTube, Instagram, Facebook, Pinterest, Twitter, Twitch, etc. increase.
Some influencers have thousands of followers, while others have millions. They are usually classified into tiers such as:
- Mega influencer: Over 1 million followers
- Macro influencers: 500,000 to 1,000,000 followers
- Intermediate influencers: 50,000-500,000 followers
- Micro-influencers: 10,000-50,000 followers
- Nano-influencers: 1,000-10,000 followers
Next PR’s head of public relations, Julie Solomon, tells CMSWire that if a brand has a tight budget, it needs to reach out to micro-influencers.
“Micro-influencers have lower fees and are more likely to be open to collaborations that benefit both them and your brand,” she explained. Number, based on the assets we want you to create (review videos, static product posts, etc.)
Solomon suggested that working with smaller influencers can be more beneficial, adding that every influencer has their own set of followers. “Even if someone has less than his 5,000 social media followers, he is just as influential when it comes to his ROI for brands as an influencer with over a million. What matters is his target audience and engagement rate. ”
She recommended working with a few smaller influencers before investing effort and money in a larger influencer.
Regulating influencer content
Social media influencers are not without regulation. Instagram and Facebook have their own branded content policies for influencer marketing campaigns and endorsements.
Their rules only allow branded content to be posted using their branded content tool, and they must tag the business relationship between influencers and endorsers when promoting this content.
Meta enables influencers to connect with brands and create branded content using a tool called Brand Collabs Manager.
In 2021, YouTube updated its Branded Content Policy to require influencers to check a box titled ‘Paid Promotion’ when publishing Sponsored Videos. The policy also requires influencers to provide disclosure notices.
find the right influencer
Brands seeking the right partnership should start by looking for influencers who are known to promote similar products or services, or whose audiences closely match the brand.
“For example, if a brand is an educational tool for children, working with an influencer who influences parenting can have a greater ROI than working with a common celebrity who happens to have children.” Solomon said.
“Parenting influencers have a niche, targeted follow-up of parents looking for tips, guidance, and new products to use with their children,” she explains, adding that the added that product reviews tend to be more effective because they are more authentic. and friendly.
Katrina Froelich, senior account executive at Blaze PR, said the analytics team is looking for influencers with numbers, metrics and demographics to back them up. That means evaluating the influencer’s engagement rate, conversion rate, follower type, and other factors to decide who to use for your campaign.
“Finding influencers who really love your brand or product and already use it in their daily lives or already have their followers raving about it is also very important,” says Froelich. “Having content coming from real fans (who also happen to have a lot of followers) is invaluable.”
Related article: Find your target audience through social media
Challenges of influencer marketing
Finding the right influencers is the biggest challenge for most brands. A clear understanding of your brand’s core values and goals is key to knowing if an influencer is the right fit for your brand.
Redding told CMSWire that brands need to follow four key steps to find the right influencers.
- Determine if the influencer’s target audience matches the audience the brand is trying to reach.
- Evaluate your influencer’s follower count and engagement metrics, such as comments and stories shared.
- Evaluate the type of content they produce and consider if it fits your brand.
- Scrutinize influencer profiles to ensure their values match those of your brand.
Failure to take these steps can hurt your brand’s public perception. “The association’s endorsement and support is real and can hurt your brand as easily as saying the wrong thing.
The cost of influencer marketing can be exorbitant, ranging from thousands to hundreds of thousands of dollars, depending on the influencer’s popularity and number of followers. This is when the contractual agreement works in favor of the brand.
“Influencer marketing deals can be very complicated depending on the nature and duration of what you are promoting,” said Redding. Most of the time, it’s not strategic for a brand to pay a flat $1,200 for his one her Instagram post. This is where they offer contracts based on “ifs, ands, buts”. ”
Reach your audience through influencers
Brands should look for influencers whose values and target audience match their brand. With the right influencers, businesses can reach a wide range of customers and prospects while providing fun and informative ways to educate people about various products and services.