Marketing has evolved to a new digital era, where influencer marketing can affect your success and business game. Yes, let us discuss on one of the most sought-after profession and marketing medium – Influencer Marketing. Read on our blog everything about influencer marketing.
Who said you need to be a celebrity to make a difference in people’s live, to make them follow you, admire your decisions, choices, lifestyle and more? Welcome to the world of the digital boom, and behold the ear of rising Influencers!
Back in the 2000’s if someone has said the everyday common man, woman or child could become and influencer, we surely would’ve raised more eyebrows, right?
But fast forward to this present day – you will see influencers of all kinds. Their followers and number of followers may vary, but they have one thing in common – they have the power to influence, and inspire. This punch that they deliver has made them the hottest trend in the marketing industry.
Influencer marketing is worth more than what just meets the eye. Let us understand all about it in the following –
What is influencer marketing –
Marketing of business services and products by individuals that are famous and have a good following on social media is called social media marketing. This collaboration between social media stars (famous social media users) and businesses, is influencer marketing. The digital age has billions of people active on social media on a daily basis. This is a great opportunity to leverage for businesses. When people follow influencers, they do so with faith, and trust. They serve much more than just boost product sales or service. Their association with the brand also aims at brand identity, awareness and recognition.
Anyone can be an influencer and they can come from anywhere. The only criteria that matter is the power that they have over their audience. How many people they can reach and inspire. Some of them may have a massive following in millions, while some may have a couple thousand, yet influencers in their respective niche and audience are highly regarded, established and looked up to as masters or experts in their field.
Right from food, fashion and lifestyle to arts, photography, travel and more, any and every hobby, passion, profession can create an influencer.
There are primarily 4 types or we can say segments of influencers –
Macro influencers –
those which have followers withing the 100K to 1M range. Compared to celebrities they have a more focused approach, and their followers can relate to them, earning them a loyal and trusted following. They have an established foundation with strong content and lead to create impact in their area of expertise. It is a great idea to collaborate with them as they can garner more attention and brand awareness with their high number of followers.
Nano influencers -
Those with a following of less than 10K. Although in limited numbers, nano influencers have a strong following. Since they have a limited and targeted following, their content usually is customized to meet your core marketing goals, tailored for establishing strong rapport with target audience. Businesses who want to target a specific demographic or community, home grown brands, small scale or local businesses, or people who want to spread the word withing a budget, can benefit greatly with collaborations with nano influencers.
Mega influencers –
Those with more than a million followers. These are mostly also celebrity influencers that have more than millions of followers. Most of these are leveraged for massive and big /luxury brand campaigns. It is obvious they are very expensive for collaboration.
Micro influencers –
Following of 10K to 100K. They are the most trending with limited followers but on focused platforms. They create a funnel to draw audience withing their niche with creative and impactful content. When followers can relate and communicate with honest interactions, they create a higher engagement rate despite their limited followers compared to large influencers. They usually charge lower compared to mega or macro influencers.
What are the types of influencer marketing -
A collaboration between influencers and businesses, can happen two primary ways –
- Brand deal – where the influencer is offered a standard amount per post, that markets the product or service. The rates vary as per the reach, following and impact, and experience of the influencer.
- A link of the product or service is branded and introduced in the post. So, if the viewer clicks on it, makes a view or a purchase, a set incentive or commission is paid to the influencer.
Many influencers have their own command be it with more followers, reaching a wider demographic or reaching small groups but with targeted audiences and communities.
Different influencers can have varied benefits to offer. Factors like range, engagement, reach and cost can help choose the best influencer for your business.
How to work it out…
When finding an influencer for your business, definitely collaborating with someone with higher followers might be tempting. But you will need to study and decide which one suits your brand the most – and helps you reach your marketing goals. Here are a few tips…
- Choose influencers that align with the goals of your brand as well as the image of your brand. Influencers who match your brand tone and voice, and over all vibe can give the best output through collaboration.
- As mentioned above – find out your target audience and the key demographic of the influencer’s followers. If they both match you can leverage influencer marketing for potential customers along the way.
- Influencers who have an experience of working with brands in your business segment. Look for the experience and content they create in your niche. Weigh in on the value and advantage they can provide for your marketing goals.
- Influencers who have a keen interest or liking for your industry, product or service helps them make authentic and sincere content, making it most effective. Followers love authenticity, which in turn helps your brand and business earn higher value and business.
- Most brands get carried away with higher follower count. According to a study it is found that merely number of followers do not mean higher engagement. Some influencers may have a limited following but their engagement rate is very strong. They can connect and impress audience, with focused demographics or communities. Researching on the influencer’s engagements, interactions, profile experience can help you choose the best influencer that aligns with you marketing goals.
- Define your goals and KPI very clearly. Once these are finalized you can choose an influencer that fits well with qualities, strategy and ethic for your business.
- Ensuring clear goals and expectations are assigned makes influencers work with focus on your goals. With accountability comes responsibility, so assigning targets or quality brackets and output benchmarks is very important.
- Set clear KPI’s to measure success, before you begin the campaign and afterwards. this will help you weigh your decision and help devise a strategic plan for influencer marketing.
Leverage influencer marketing –
Influencer marketing isn't just a trend; it's a valuable strategy in today's digital world. It's like having a trusted partner to help your business thrive. So, let's keep exploring the world of influencer marketing steadily. It's not just about boosting sales; it's about building real connections with your audience. Think of influencers as your reliable allies who can introduce your brand to a broader audience. It's all about staying authentic, building trust, and creating a positive online presence.
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