What is influencer marketing?

Influencer marketing is now a mainstream form of online marketing. It’s been a buzzword for quite some time now, and mainstream media regularly references it. Yet, there are still people who don’t really understand what influencer marketing is. In fact, some people come across the phrase for the first time and instantly wonder: “What is influencer marketing?”

At a fundamental level, influencer marketing is a type of social media marketing that uses recommendations and product mentions from influencers. These influencers have a dedicated social following and are considered experts in their niche. In this article, we decided to introduce you to the prerequisites of influencer marketing. But before you get started, here’s how to improve the conversion rate in your online store.

Influencer marketing involves a brand collaborating with an online influencer to market one of its products or services. Some influencer marketing collaborations are less tangible than that – brands simply work with influencers to improve brand recognition.

Influencers, unlike celebrities, can be anywhere. They can be anyone. What makes them influential is their large following across the web and social media. An influencer could be a popular fashion photographer on Instagram, a well-read cybersecurity blogger who tweets, or a respected marketer on LinkedIn. Influencer marketing works because of the high level of trust that social influencers have built with their followers. Their recommendations serve as a form of social proof to potential customers of your brand.

Influencer marketing is a hybrid old and new marketing tools. It takes the idea of celebrity endorsement and places it in a modern content-driven marketing campaign. The main differentiator in the case of influencer marketing is that the campaign results are collaborations between brands and influencers.

But influencer marketing isn’t just about celebrities. Instead, it revolves around influencers, many of whom would never consider themselves famous in an offline environment.

The Current State of the Influencer Marketing Landscape

Standing out on Instagram in 2014 was easier than it is today. If you were lucky enough to be featured on Instagram’s featured page or if your look was just distinctive enough, then your chances of being selected as an influencer were high. After enough brand partnerships, some have turned social media influencer marketing into a full-time career.

But things change, right?

We are influenced by what we see, and aesthetics are no different. Bright images are more common now, as are foods carefully placed against interesting backgrounds. When the “typical look” of influencer marketing is no longer unique, what happens next?

To be an influencer fashion among this younger demographic, you may no longer need to rely solely on perfectly shot photos. Instead, relaxed poses and limited edits are now welcome on the feed. Keep in mind that the article only covered a subset of influencers: younger Instagram users. If anything, this shift over the past five years should show how the only constant in influencer marketing is change.

What influencer marketing is not

Influencer marketing isn’t just about finding someone with an engaged following and offering them money so they can say good things about you. That’s what viral celebrities are for. Influencers are people who have spent time building their own brand and cultivating their audience.

They will naturally be protective of their reputation and the people who trust them. These are people who have the patience and focus to succeed in social media, one organic follower at a time – people like this aren’t interested in doing influencer marketing just for the money.

Influencer marketing isn't about quick results either. It’s the same kind of slow and steady approach as social media and content marketing, where your campaign isn’t about directly selling your products. Instead, it’s about demonstrating your authority, credibility, and thought leadership within your industry. It’s about becoming synonymous with whatever it is you’re offering.

With social media marketing, it’s all about acquiring the kind of followers who will be loyal and engaged. So it’s tempting to think that joining forces with an influencer is going to be an easy way into the hearts and minds of your followers, it is not so simple, however. Because to ally with influencers, you have to earn their trust and respect.

How to create an influencer marketing strategy?

Like any marketing tactic, an influencer program requires deliberate targeting and planning. You won’t find strategic success simply by sending free stuff to everyone who asks for it or to your existing friends and acquaintances.

1. How to find influencers and how to pay them

Like any strategy, research is the first step. Choose which platform you want to focus on first. You can always expand to other platforms later, but if you’re just starting out, stick with one. Ideally, your brand should already be present on that network or looking to expand there.

If you’re not sure where to start, social listening can help you identify where people are talking about your industry and brand, and it can help you find the most influential voices in your industry on each platform. The industry you’re in also matters when considering an influencer marketing strategy. Beauty and fashion brands shine on Instagram and YouTube. The gaming industry dominates on Twitch.

During your research phase, consider what type of influencers you’re interested in. Are you looking for celebrities with large followings? Or micro influencers with fewer than 2000 followers? Maybe something in between 5 and 10 subscribers is more your preference. Whatever you decide to focus on will determine your budget. Compensation also varies wildly, so be sure to look at common rates for these types of influencers. Micro influencers tend to focus on a few topics and take on products.

Some micro influencers work independently while others may be represented by an agency or network. While larger accounts and celebrities will need compensation and may even work through a talent agency.

2. Establish a budget and a management strategy

Now that you have an idea of what influencers should be paid, you need to create your budget. Also, be sure to factor in the time it will take to plan, execute, and review your influencer program. Running a successful influencer marketing campaign is not a one-size-fits-all strategy. set-it-and-go ". This will involve careful monitoring and follow-up.

Unlike a more automated advertising strategy, influencers are human and frequently balance multiple partnerships, so some may fall behind in their commitments to post on time or make mistakes in your requested tags or calls to action. You’ll need to take the time to get more familiar with these relationships to cultivate them and refine your approach through experience of what works and what doesn’t in your niche.

3. Decide on the objectives and the message to convey

The two most common reasons to use influencer marketing are to increase brand awareness and increase sales. However, instead of defining these broad goals as your two objectives, it will be more effective to launch your strategy by refining your brand’s needs.

Maybe you want to grow your customer base in a younger demographic. Or you want to expand to a new user group with a new product. Or you want to ignore trends and use influencers to talk about your brand values.

Influencers have the ability to reach very specific audiences. Instead of relying on thousands of followers, influencers will help you ensure that a highly targeted audience that is likely to be interested in your product reads and engages with your content. Influencer content that has a conversational tone and a personal narrative helps differentiate these posts from the type of features or sales-driven posts a brand might make for the same product on their own feed.

Your message is just as important as your goal. While you don’t want to stifle an influencer’s creativity and uniqueness, you also don’t want them to post something unrelated to your campaign. Figure out how you want to structure your influencer marketing campaign and message so you can stick to it later.

4. Influencer Outreach: How to Contact Influencers

Back to step one: research. With a plan defined around your network, your goals, and the types of influencers you want to target, we return to the research of how to find the right influencers to work with. During this research, keep the following in mind:

Does the influencer already post similar things to your service? For example, if you are a restaurant and want to promote a new menu, you should look for influencers who regularly post about dining out and the food they eat.
Are they legit? This means scrolling through their feed and clicking on posts. Low engagement rates relative to follower counts and spammy comments are signs of a fraudulent account.
Have they worked with similar brands before? Depending on the type of influencer you're looking for, a seasoned one might show you a press kit with a portfolio of their work. The more invested you are in an influencer, the more you'll want to check them out.

5. Review and refine your strategy

Even if your influencer marketing campaign is underway, you should still have predetermined dates where you will measure its progress. The next part of this guide will explain how to track your results. Not all campaigns are successful, but I hope you learn from each one.

Conclusion

Influencers are here to stay, but the way the world of influencer marketing looks and works has changed a lot in a short period of time, and in five years may look radically different than today. This guide will help you start building your strategy, but like any social strategy, it’s important to be ready for change.

Yet, while there are unique considerations for working with influencers, setting up a campaign is the same as most marketing campaigns: research, set a budget, set goals, find your influencers, and review and revise. However, I can’t leave you without offering my personal training course. Click here to download the ultimate guide to personal finance management.

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