Influencer marketing is proving hugely popular at the moment, and there’s a simple reason for this. It really works.
Influencer marketing enables brands to reach valuable new audiences, and connect with target markets that traditional marketing channels would struggle to reach. Inspired by the results that word of mouth marketing achieves, influencer marketing has been designed to present products in an authentic, engaging way that resonates with consumers.
With increasing numbers of brands battling for partnerships with world-renowned social personalities, the world of influencer marketing is becoming increasingly competitive. But some brands are still hesitant to dip their toes into the waters of this fast-moving field.
If you’re unsure whether or not influencer marketing could work for your brand, or you have questions about the best way to approach a new influencer campaign, then read on. We’re here to reveal the hidden secrets of influencer marketing, to give you a unique insight into the opportunities that influencers could hold for your brand.
So, is influencer marketing right for your brand? Take a look at the following questions and you’ll soon find out.
In this article
- What Budget do I Need for Influencer Marketing?
- Which Audiences Can I Target with Influencer Marketing?
- Will Influencer Marketing Provide the Right Kind of Content for my Brand?
- How Will I Find the Best Influencers for my Company?
- How Would I Measure the Success of Influencer Campaigns?
- Do I Need a Social Presence to Succeed with Influencer Marketing?
What Budget do I Need for Influencer Marketing?
There’s a common misconception that the budget for an influencer marketing campaign must be through the roof. This isn’t true. In fact, influencer campaigns can be designed around any budget, and there are more options for modest campaign budgets than you might think.
One thing we always recommend is planning and setting a strict budget before a campaign begins. The budget should be at the forefront of your mind when thinking about how the campaign will run. It will, of course, be a huge deciding factor when it comes to choosing influencer partnerships, and it will give you a clear idea of which influencers your brand would be able to work with – and how long for.
A modest budget isn’t necessarily a bad thing in influencer marketing. Smaller budgets tend to encourage brands to think outside the box a little when planning their influencer partnerships and content suggestions.
Brands working with smaller budgets will have a specific pool of influencers that they can partner with. Typically, influencers requesting smaller fees will have fewer followers than more pricey, better-known social personalities. However, the results achieved through partnerships with micro influencers are often the same, if not better than, results from macro influencers and social celebrities.
The difference lies in the audiences that micro influencers have. When an influencer with a smaller following posts content about a product, it usually feels more authentic than it would if a famous influencer with millions of followers did the same thing. The audiences of micro influencers are also typically far more engaged, and more likely to act on the advice and suggestions given by their favourite personalities.
So, a smaller budget doesn’t mean influencer marketing isn’t an option for your brand. It could even be a good thing.
Which Audiences Can I Target with Influencer Marketing?
Influencer marketing has been heralded for its incredible ability to connect brands with hard to reach audiences. Typically, influencer marketing is used to reach younger audiences, many of whom do not respond well to more traditional campaigns.
If your brand is looking to target younger consumers, then influencer marketing is essential. In research published by Google, it was reported that 70% of teenagers now trust influencers more than celebrities. The same study found that 4 in 10 millennial subscribers believe that their favorite influencers understand them better than their friends.
Instagram is one of the top channels for influencers, and with the advent of new video sharing options from IGTV and Instagram stories, it’s likely to remain a firm favorite with influencers large and small. This is important because the audiences using the platform are the very same ones that the vast majority of brands are looking to attract. They’re the next generation.
According to Statista, an incredible 75% of 18–24 year olds use Instagram. This percentage falls slightly as the age of users increases, with 57% of 25–30 year olds using Instagram, 47% of 30–49 year olds on the platform and just 23% of 50–64 year olds using the app.
When we consider the fact that a huge 63% of Instagram users log in to the platform at least once a day, it’s easy to see why influencer marketing is so important for brands looking to connect with younger audiences.
Will Influencer Marketing Provide the Right Kind of Content for my Brand?
The content created by any influencer campaign is governed by both the brand and the influencer in question.
Some brands look for influencers who are happy to take advice on how content should be presented, and what it should say to followers. Other brands might be more laid back in their approach, letting their influencers take the lead creatively.
There’s no right or wrong way to do things, it all depends on what your company needs and how you’d like influencer marketing to work for you.
If you’re hoping to create a very authentic campaign that provides plenty of unique, original content then we always recommend partnering with influencers who are known for their artistic flair. Many influencers build their reputations on the content they create for brands, so brands can easily handpick the personalities whose content aligns with their own ideas and plans for the campaign.
While most influencers are happy to take some direction from brands, the amount of direction that can be given will depend on the influencers that a company chooses. It’s worth bearing in mind that influencers who build their reputations on their creativity will take originality very seriously. For this reason, they may want to retain complete creative control over the content shared via their social channels.
It’s a good idea to consider a number of different influencers and look closely at what they’ve created for brands previously, before building any new partnerships. When you find an influencer capable of creating the content that your campaign needs, you’ll know they’re the right choice for your company.
How Will I Find the Best Influencers for my Company?
There are thousands of influencers out there, so it can be tricky to know which influencers would be best for your brand.
Before planning an influencer campaign, think about what you want to achieve. Consider what success would look like, and find out as much as you can about the different audiences that you’d like to connect with via your influencer marketing.
The more you know about your target audience, the easier it’ll be to decide on the best influencers for your campaign.
Once you have a few examples of target audiences in mind, you can start to research the top influencers who are followed by those very people. The more research you do into this, the more targeted your campaign will be.
Take the time to learn as much as you can about the different influencers available for your budget, and consider which ones would be best placed to connect your brand with the target audiences you’re seeking.
How Would I Measure the Success of Influencer Campaigns?
One of the key benefits of influencer marketing is the amount of data it provides. And as we all know, data is invaluable for marketing.
Influencer campaigns can be measured using a huge number of different metrics, every one of which provides actionable insights which can improve the results of future content.
Certain types of content can also help to provide measurable results. For example, a survey, poll or Q&A can encourage followers to provide feedback which may prove vital to the success of future strategies. Using a tool like Woorise you can create beautiful and powerful engagement campaigns collect leads and useful insights about your audience.
We always suggest that a brand sets out clear objectives for a campaign before any influencer partnerships are established. Not only is this a great idea in terms of planning content and keeping organized, it’s also hugely important in helping to measure success.
If you have a set of quantitative goals in mind for your campaign, then you’ll immediately be able to pinpoint the metrics that will help you see how things are going. These metrics may be conversions, referral web traffic, reach and follower numbers. You will also likely want to track figures relating to engagement, such as likes, reactions, shares, comments, clicks, votes, video views and of course mentions.
When working with influencers, it’s a good idea to keep an eye on all of the above metrics for each influencer that you partner with. By examining the figures for specific influencers, you’ll soon see which content is the most effective for your brand, and which influencer partnerships are delivering the most in terms of ROI. When this has been established, you’ll be able to make more informed decisions on how you’ll run future campaigns, and the percentage of your budget that should be dedicated to each influencer.
The quantitative data available to brands working with influencers is invaluable when it comes to planning future strategies. Data can even help to pinpoint exciting new opportunities and untapped potential.
Do I Need a Social Presence to Succeed with Influencer Marketing?
A strong social media presence is important in influencer marketing, but it’s not essential for brands planning their first influencer campaigns.
Of course, there are endless benefits to a solid social presence. A good social presence provides a quick and easy communication channel with an engaged audience, and helps to expand your reach as your social platforms grow. It’s also vital for brands looking to connect with a younger audience, and it can be hugely beneficial for brands hoping to get the word out about a new product or service without investing vast sums of money in a traditional advertising campaign.
Often brands believe that they must build a name for themselves on social media before they can consider partnering with influencers. While it’s always helpful for brands to have this social presence initially, a lack of social presence doesn’t necessarily mean that influencer marketing isn’t an option. It just might make it a little more difficult to find well-regarded influencers who are enthusiastic enough about the company to build a partnership.
If your brand doesn’t yet have a good social presence, then influencer marketing will undoubtedly help in this regard.
Influencers can help to push traffic to your social accounts, helping to rapidly boost follower numbers and engagements. For brands with a modest following, it’s a good idea to incorporate this growth into the overall objectives of the campaign. That way any future campaigns will run with the added benefit of an engaged audience and a strong social presence.
Influencer marketing is growing rapidly, and providing incredible results to a vast number of brands in all kinds of different industries. Influencer campaigns can help to expand a company’s reach, promote a product, boost trust and loyalty and build valuable connections with consumers.
Influencer marketing offers a wide range of options for all kinds of different products and services, so it’s never difficult to find the ideal influencer for a brand. With so many different influencers available, the perfect partnership could be just around the corner. Take a look at the influencers making a name for themselves in your industry, and consider how they might be able to help to get the word out about your next promotion.
Influencer campaigns are ideal for brands hoping to reach the target audiences that traditional marketing channels no longer connect with. They’re also vital for companies hoping to expand existing audiences and promote their own social presence. With endless amounts of data available to help to inform influencer campaigns, influencer marketing is already providing impressive results for products and services in a huge array of different industries.
If you’re new to influencer marketing, it might be time to tap into the unparalleled potential of influencer campaigns. Only then will you really begin to see what the best influencer partnerships could do for your company.