Understanding Influencer Marketing

In the last decade, the emergence and widespread use of social media platforms such as Instagram, Snapchat and TikTok has given rise to a new career and industry – Influencers/Influencer Marketing. With the pandemic moving all our activities online, the significance and prevalence of influencers has only grown and it is imperative that we as digital marketers, learn how to reap the benefits and leverage this powerful new tool for success. Fortunately, Ashley Walsh , an account director at North Strategic, took some time out of her busy day last week to share with us her insights regarding influencer marketing.

To begin, what is influence marketing?

In essence, influencer marketing is a form of marketing where a brand partners with individuals with large and engaged followings on social media in order to achieve their brand objectives. These individuals, known as "influencers," are selected because they have the ability to reach and influence a specific target audience that is relevant to the brand.

In a collaboration, a brand will leverage the existing relationship influencers have already built with their followers in order to promote their goods or services in a way that feels more authentic and less like an advertisement. ?Marketers often collaborate with influencers by offering them compensation, such as free products, money, or other incentives, in exchange for promoting their brand or products. Promotion can take many forms, including but not limited to product reviews, sponsored posts, brand mentions or features in video content.

In recent years, influencer marketing has become an increasingly popular and effective way for brands to reach new audiences and build brand awareness and loyalty. However, it is of upmost importance that brands know how to carefully select the right influencer for their target audience, and ensure that their marketing efforts are ethical and transparent.

This is especially relevant due to the recent controversy surrounding Mikayla Nogueira, a mega TikTok influencer who has come under fire for allegedly wearing fake eyelashes and making false claims in a sponsored brand deal with L’Oréal. Such incidents not only completely demolishes the trust and authenticity that influencer marketing depends on, it also raises legal consequences and can have a disastrous effect on a brand.

This leads to the question of….

What are some key factors a marketer should consider when selecting influencers for a brand?

1.????Relevance: The influencer should be relevant to the brand and its target audience. They should have a following that is interested in the products or services that the brand offers.

2.????Engagement: The influencer should have a high level of engagement with their followers. This can be measured by the number of likes, comments, and shares that their posts receive.

3.????Authenticity: The influencer should have an authentic and credible voice that resonates with their followers. It's important to select an influencer who aligns with the brand's values and whose content will be perceived as trustworthy by their followers.

4.????Reach: The influencer should have a large enough following to reach a significant number of potential customers. However, it's also important to consider the quality of the following, not just the quantity.

5.????Cost: The cost of working with an influencer should be considered in relation to the budge and the potential return on investment. It's important to find an influencer who is within the brand's budget and who can deliver a good return on investment.

6.????Measurable results: The influencer should be able to provide measurable results that demonstrate the impact of their work. This can include metrics such as reach, engagement, and sales.

7.????Brand fit: The influencer should fit well with the brand and its image. They should be a good ambassador for the brand and should be able to deliver content that is consistent with the brand's messaging and tone of voice.

To ensure than an influencer is well-suited to a brand and able to deliver results, marketers must carefully weight out all the factors mentioned above before selecting an influencer to collaborate with.

Influencer Marketing in Action

But what exactly do influencer marketers do? During the seminar with Ashley, we were given the opportunity to work on a case study and experience first-hand how influencer marketers help brands plan campaigns. My group was tasked to come up with ways in which we could help a Toronto-based beauty brand promote their line of clean and sustainable skincare products to potential millennials and Gen Z consumers.

My group decided to collaborate with lifestyle or beauty influencer who aligned with the brand values of being green, sustainable, healthy and clean. We planned on executing a social campaign with a focus on Instagram and TikTok and explored creative approaches such as: day in the life vlogs, unboxing videos, reviews, street interviews and more. We also discussed using giveaways, paid boosts, hashtags and charitable collaborations to amplify content.

Working on this case study opened my eyes to just how much research and consideration influencer marketers must conduct on a daily basis. Despite being a regular user of social media, there was still a plethora of information I was unaware of such as the different levels of influencers and the concept of dark post promotions. Although influencers are at the forefront of influencer campaigns, marketers are critical in providing creative guidelines, creative briefing considerations, contracting agreements and ensuring that KPIs and brand objectives are being met. This case study really brought to my attention how rapidly the influencer industry is changing and highlighted all the hard work and effort influencer marketers put in to ensure they are always staying ahead of the game.

Looking Forward

While it's impossible to predict exactly how influencer marketing will evolve over the next year, Ashley mentioned some potential influencer marketing trends that we should keep an eye out for in 2023:

1.????AR Influencers: AI influencers are still a relatively new phenomenon, but they are definitely gaining in traction, popularity, and have the potential to overhaul and dominate the industry. AI influencers are computer-generated characters that are designed to look and behave like real human influencers, but are actually entirely virtual. The fact that these influencers are completely customizable, controlled and can be always “on” for promotional purpose makes them an extremely attractive alternative to human influencers.

2.????Rise of Creator-Led Short Form Video Content: Although Instagram is the still the leading platform for influencer partnerships, the recent rise of TikTok and introduction of YouTube shorts signifies a shift toward short form video content.

3.????De-Influencing: #deinfluencing describes the process of intentionally reducing or eliminating the influence of social media influencers from one's life. Following the pandemic, there has been a spark in conversations regarding overconsumption and influencer partnerships. Influencer culture is also notorious for setting unhealthy beauty, lifestyle and purchasing standards. As people seek to regain control over their own lives and become more aware and intentional of their social media use, it may be time for brands to reconsider their influencer marketing goals.

Although I am still unsure whether or not influencer marketing is the field I would like to pursue in the future, it is definitely an interesting realm with lots of potential growth and I cannot wait to see how influencer marketing will adapt to technological advancement such as the rise of the Metaverse.