October 15, 2019 Bianca Altomare
In late 2019, the online marketing scene is constantly becoming more saturated by traditional marketing tactics we have all over seen now. Consumers are finding it harder to trust brands they aren’t familiar with, as many are taking a new approach and presenting their products in a more modern way.
It’s not hard to realize that in this day and age digital is a must, and if your brand isn’t moving forward with this digital evolution, you aren’t benefitting to your fullest potential with the resources, we have available at our fingertips.
Influencer Marketing is a form of marketing that is being used more frequently by businesses to extend a message to the influencer’s followers, one post by an influencer can reach thousands of people around the world. An influencer is someone who represents a product or service as a brands advocate, where they are paid to post content through photos and videos or messages that will impact the behaviour of their social following to have them more enticed into making a purchase.
This form of marketing is beneficial because their followers trust recommendations and reviews by their peers and influencers are looked up to by them. Think of it, you are more likely to purchase a pair of runners that you’ve seen your favourite athlete promote.
*Photo sourced from Digimind
‘65% of marketers are planning to incorporate influencer marketing as part of their marketing plan within the next 12 months’ (Be one to make this move first!)
Depending what outcome your brand is aiming to achieve, breaking it down in a measurement sort of manner deciphering if your brand needs a macro versus micro influencer is a good place to start. Below we have broken it down into advantages and disadvantages both kinds of influencers obtain.
*Photo sourced from Digimind
If your brands main goal is to get some spotlight and name recognized, the use of macro will achieve that reach. Utilizing micro influencers for authenticity, fostering connections and driving personal conversions. Brands that work with micro-influencers focus targeting an audience that are more likely to convert into sales rather than aiming to a larger reach.
After reviewing over some Instagram statistics, Digimind has found that:
‘55% of consumers trust UGC over other forms on marketing, making it a good decision for brands to encourage influencer marketing over direct to consumer’
Considering marketing tactics are never a one size fits all, be aware that not every strategy will work for every industry. Micro influencing may not work as well for some niches as they would for others. For example, the fashion industry is a very popular industry where it would require a macro influencer, someone that would give a wide enough outreach to stick out in such a saturated industry.
Micro influencers are an effective and affordable marketing strategy for building brand awareness, working particularly well for small businesses and startups. Brands that use this method will form lasting relationships with their consumers because they will trust the opinions of the influencers.
Finding an influencer whose niche aligns with your brands personality and style is important. An influencer that already holds a following that has similarities to your own. For example, if you sell cruelty-free makeup products you won’t want an influencer that flaunts using companies that don’t support the same.
There are a few ways to source the right influencer on your own.
Scouting one on your own through Instagram may be time consuming but remember it is important how aligned a influencers content is with your brands message. There are different ways to search which can be done by looking up relevant hashtags and scrolling through the top posts that come up.
A couple tips to guide you in the right direction on where to start.
For a complete breakdown on finding the right influencer, check out Oberlo’s article here.
There are a number of influencer marketing platforms that can be leveraged to help you discover influencers to make scouting a little lighter for you. Some of these platforms allow you to search based on occupations, follower demographics, favourite topics, social media metrics, locations allowing you to be specific on exactly what you’re trying to get out of this. These are 31 of the best Influencer Marketing Platforms as of 2019 you should try.
Influencer Marketing Hub has found with studies that businesses who thoroughly understand influencer marketing have impressive ROI with up to $18 in earned media for ever $1 they spend on influencer marketing. Gain insight on the recent growth of influencer marketing with a 2019 benchmark report.
By now you’re probably curious on what cost comes with a post by an influencer. When breaking it down with macro versus micro influencers its obvious the price point would be different when comparing the two. Macro influencers (100,000+) which are typically internet and Hollywood celebrities tend to charge higher prices than per say Micro influencers (9000-100,000). Understanding there are plenty of factors to consider when putting a dollar sign before a influencer post such as; which platform and the type of content, photo, video, message. To get a ballpark on how much you should be paying your influencers, WebFX has given an average pricing format for each social platform.
Mediums detailed strategy for finding the right influencer to suit your business.
Need to review an influencer to make sure they fit your brand? Make use of these influencer marketing platforms