Let's Talk Influencer Marketing
Influencer marketing is a kind of social media marketing that relies on the endorsements and product mentions of influencers or people with a large social media following who are recognized as experts in their fields of specialization.?
Your firm will require to leverage influencer marketing to gain the confidence of your target audience by using social influencers with large followings who can act as a source of credibility for your service or products.
The way people consume content is evolving. To capture the awareness of audiences who spend more time staring at their phones than at television screens, brands must alter their marketing approach. Influencer marketing leverages the power of a social media "influencer" (i.e., Instagrammer, YouTuber, former Viners, blogger, or vlogger) to expose a brand or product to the influencer's large follower base – which can number in the thousands or even millions – is one of the most effective ways companies can organically target an engaged audience and increase brand awareness.
WHY INFLUENCER MARKETING WORKS
As television viewership continues to decline and traditional marketing channels like television and display ads are becoming increasingly less effective, innovative marketers, advertising agencies, and PR agencies all trying to capture the attention of online audiences are asking the same question: "what is influencer marketing?"
Though marketing and advertising with top social media influencers, YouTube stars, and Snapchatters may seem like an indirect strategy for reaching new and existing customers, the relationships and relevancy YouTubers, Instagrammers, and bloggers have with their followers ensure that audiences will not only see a brand's product or service (views, impressions, reach, awareness) but will also be more likely to act prompted by the influencer's recommendation and endorsement (engagement, likes, follows, conversions). You've likely seen several influencer marketing campaigns if you've ever spent time watching your favorite YouTube channels or scrolled through photos on your famous blogger's Instagram feed.
WHO ARE SOCIAL MEDIA INFLUENCERS, AND WHY DO THEY MATTER?
Influencers have engaged audiences that follow them across many top social media channels. They can become potent brand advocates as they build awareness for brands and make a product or service relevant to their audience. In a world where recommendations, suggestions, likes, and follows quickly spread from the most famous people on social media, influencers are considered those whose opinions are highly valued in the space.
For example, Top adventure YouTuber Louis Cole's YouTube had a sponsorship with marquee hospitality brand Fairmont.?
Influencers can have a outstanding impact on your business through several virtual channels. They can write a great blog or create a video or vlog that incorporates your product or service into their content. By incorporating your brand into their lifestyle, you create customers from the influencer's audience who want to share in that lifestyle. With influencers' extensive social media followings, they can also reach their unique audiences through Instagram and Twitter to incorporate your brand into their lifestyle.
WHAT IS INFLUENCER MARKETING WITH SOCIAL MEDIA INFLUENCERS?
An influencer is an entity with an extensive social reach that has the power to "influence" the decisions their audience makes. Because they've built an engaged audience that follows them across top social media channels, influencers can become powerful brand advocates as they promote brands and create a product or service relevant to their audience. In a world where an influencer's recommendations, suggestions, likes, and follows can affect real-world decisions about what brands customers care about, influencers now wield power similarly, if not much more significant than most celebrities.
Top YouTuber Casey Neistat's sponsored "how-to" vlog for the launch of J. Crew's suit. Many creators make these most popular types of YouTube videos to boost views and engagement.?
When describing platform-specific influencers, social media influencers are collectively referred to as social media stars, brand influencers, digital influencers, and terms like YouTubers, Instagrammers, Viners, Snapchatters, vloggers, and bloggers.
HOW BRANDS CAN TAKE ADVANTAGE OF INFLUENCER MARKETING
Brands can create influencer marketing campaigns as part of their overarching integrated marketing strategy to take advantage of each influencer's targeted consumer audience. These campaigns collaborate with influencers to raise brand awareness and increase profitable customer action and can appear as product placements, product endorsements, branded content, branded advertising, native advertising, sponsored content, or some combination of these.
To learn more about the types of content brands can create with influencers, see our post "Native Advertising vs. Sponsored Content vs. Influencer Marketing" here.
Engaging blog articles, captivating YouTube videos, and creative Instagram posts allow social media stars to incorporate a brand's product or service into their content. Targeting audiences with specific interests are also highly effective when brands partner with influencers that reflect that interest; for example, Aimee Song of Style and Danielle Bernstein of We Wore What, two of today's top influencers in the fashion space are, and fashion brands take advantage of their reach to market to interested audiences.
To learn more about marketing with Instagrammers, check out our upcoming blogs.
HOW TO PICK THE RIGHT INFLUENCERS
Although anyone can work with social media celebrities to increase sales, genuinely understanding the right ones in your niche and finding the right influencer for your brand can help your campaigns reach maximum efficacy and authenticity. To identify the social media influencers that will have the most significant impact on a brand's campaign, marketers first need to identify their audience, then consider the types of reels, blogs, videos, and creatives that will create the most engagement. Other factors brands should consider when choosing influencers include:
Partnering with the wrong influencer, on the other hand, can lead to an underperforming campaign at best or damage your brand's message or reputation at worst.
THE BENEFITS OF WORKING WITH INFLUENCERS
Influencers make it easy for marketers to connect with their consumers authentically by reaching out to large social followings that already respect and value the influencer's opinion. By tracking their influencer marketing campaigns' reach, impressions, click-through rates, engagement, and ROI metrics, brands can also use influencer marketing to understand their customers' needs and priorities better. Campaign metrics and Key Performance Indicators (KPIs) vary based on each brand's campaign expectations and goals. Still, a well-crafted influencer marketing campaign typically exceeds returns compared to traditional advertising strategies.
For more information on best measuring an influencer campaign, check out our upcoming blogs.
CELEBRITIES VS. INFLUENCERS
WHY DO BRANDS CHOOSE INFLUENCERS OVER CELEBRITIES?
As more companies and brands choose digital influencers to be the face of their brands, marketers are seeing a shift in who consumers look to for the latest trends, products, and lifestyle aspirations. In 2021, approximately two-thirds of marketers were increasing their influencer marketing budgets, demonstrating the importance of brands having an influencer marketing strategy in place.
Now, entertainment celebrities who used to influence purchasing decisions with name recognition alone are taking a backseat to top social media influencers.
3 REASONS WHY INFLUENCERS ARE BETTER THAN TRADITIONAL CELEBRITIES
1. Brand Influencers Drive Purchases
Marketing with brand influencers is one of the most effective methods for driving sales. Compared to traditional celebrities, videos created by the top 25 YouTube influencers generated 3x as many views, 2x as many actions, and 12x as many comments. But beyond pure engagement, 60% of YouTube subscribers claim they'd follow advice on what to buy from their favorite YouTube creator over their famous TV star.
Considering 84% of Millennials are likely to be influenced by user-generated content from strangers to make a purchase, the results of influencer-generated content boost purchase intent even more.?
2. Social Influencers Appeal To Millennials
40% of Millennials say their favorite online influencer understands them better than their real-life friends. Additionally, 33% of Millennials say they'd likely purchase a product viewed in a YouTube how-to video.
3. Brands Prefer To Work With Influencers Over Celebrities
Due to influencers' authenticity in brand endorsements, brands prefer this natural fit over transactional ads from celebrities. Approximately 61% of survey respondents worked with digital influencers within the last year compared to 57% who said the same of musicians, and half who worked with TV stars and models. In addition, the most significant majority (44%) believe influencers will be the best option for upcoming endorsement opportunities.
WHY BRANDS NEED TO ACTIVATE INFLUENCER PARTNERSHIPS
Social media influencers have incredible power to affect consumer decision-making, fueling business development by setting trends that determine what products or services the masses buy into. Traditional advertising still has a place in overall marketing strategy, particularly for businesses targeting an older clientele. However, the digital marketing landscape is shifting in favor of authenticity, which is something that influencers have to offer.
HOW INFLUENCERS CREATE DESIRE FOR PRODUCTS
The loyalty and influencer built with their audience often translate into increased product sales.?Below are a couple of examples of influencer trendsetting in action:
INFLUENCER LAUNCHES COLLABORATIVE FASHION LINE
Some influencers establish sufficient influence on product lines that businesses allow them to launch their range of products. Fashion and lifestyle blogger Emily Schuman managed this with her Cupcakes and Cashmere blog. She collaborated with BB Dakota to launch the Cupcakes and Cashmere fashion collection. BB Dakota offered her complete control over everything from patterns to pricing.
INFLUENCER BRANDING REMAINS PARAMOUNT
Influencers enjoy a solid personal brand, regardless of whether they sell anything. They spend as much time building a brand image as many more traditional corporate brands. Any work they do to promote other brands must be congruent with their brand.
Businesses must understand that an influencer's followers care about the influencer, not the external brand.?Influencers and brands rush into partnerships without careful research and risk alienating the audience and being criticized for inauthentic or fake content.
HOW DO INFLUENCERS ACT AS TASTEMAKERS
INFLUENCERS ARE NICHE EXPERTS
One of the reasons influencers have such outstanding rapport with their followers is because they establish expertise in niches that appeal to a hyper-targeted audience. Influencers drive the language of the place–the jargon used regularly, the hashtags favored the critical conversations and the overall trends.
Followers recognize influencers' expertise within the niche and follow their social media updates with avid interest. In turn, influencers aim to cater to the genuine interests of their followers and tailor their posts accordingly while sticking to that which represents their values and personality.
INFLUENCERS ARE EARLY ADOPTERS OF PRODUCTS & TRENDS
In addition,?social media influencers act as early adopters of products that set trends within the broader consumer population. They use their social media platforms to help amplify the message.
Kamiu Lee in Adweek sees a clear distinction between the aims of influencer marketing and traditional advertising: "In addition,?social media influencers act as early adopters of products that set trends within the broader consumer population. They use their social media platforms to help amplify the message. Kamiu Lee in Adweek sees a clear distinction between the aims of influencer marketing and traditional advertising: "While traditional advertising aims to attract the trendsetters, who will then attract the early majority, influencer marketing goes straight to the source, helping the innovators and early adopters tell their story directly to the masses, with the help of social media."
To Have an Effective Influencer Marketing Campaign
The basics of running an influencer marketing campaign are essential to keep in mind when deciding whether to DIY or employ an influencer marketing business. For a successful influencer marketing campaign, follow these four steps:
Step #1: Figure out what you want to accomplish and who you want to reach
Before you even consider collaborating with influencers, figure out who your target audience is and why should you care about finding out??
To assess and analyze your campaign, you must have well-defined objectives and KPIs. What kinds of things do you want your audience to do after seeing your campaign, and how will you be able to measure the success of those actions?
Step 2: Identify Influencers
Once you've determined your objectives and target market, the next step is to track down the ideal influencer. Who can effectively convey your message to your target audience? How many major influencers are there, or how many minor influencers are there??
The most significant component in their involvement, not the number of followers, determines whether or not a campaign is a success.?
You can bring into play many minor influencers in the campaign to increase the campaign's overall impact. Also, consider if the influencer's style suits your own — are you looking for someone who inspires or someone who converts??
Your campaign will be shaped by the talents of the influencers you work with.
Step #3: Make contact with the influencer and provide a short description of your project
After you have selected a smaller subset of potential influencers, it's time to put up a campaign brief. The next step is to get in contact with them and begin working together.
Before, during, and after the campaign, it's crucial to respect their time and have forethought, and to create space for unanticipated circumstances if you're doing this on your own.?
Your brand's credibility and relevance with the influencer's audience will be enhanced if you provide them with the resources that are necessary for them to achieve success.
Step 4: Dissemination and assessment
Even while the bulk of interactions and clicks on a post occurs in the first few days after it is published, it might take weeks or even months to observe the full effect of an influencer marketing campaign.?
Starting to evaluate outcomes two weeks after the article was published would be ideal. How many people interacted with it??
Tracking connections and the correct measurement and analysis tools make it simple to get campaign information.
How Does Influencer Marketing Operate in Practice?
To be effective in influencer marketing, you need to have a lot of expertise and knowledge. You may require many weeks of concentrated labor if you are doing everything yourself - from beginning to end.?
However, excellent assistance is at hand! Your campaign will be more profitable if you work with an influencer agency with the necessary expertise, relationships, and tools for analysis.
CONCLUSION: THE TAKEAWAY FOR BRANDS
If you're still asking yourself, "What is Influencer Marketing?" your brand is likely missing out on a valuable way to reach engaged audiences and increase returns on your marketing investment. Consumers are becoming increasingly reliant on influencers to make purchasing decisions, and audiences spend more time on social media platforms than ever before. Brands must capitalize on this effective marketing strategy or risk being overtaken by more innovative, socially-savvy companies to remain competitive in this ever-growing digital space.