Influencer marketing has become one of the most popular ways to sell to audiences. As celebrity and influencer culture continues to control the social scene as well as consumer purchases, it’s important for businesses to understand how they should act.
What is influencer marketing?
Influencer culture essentially “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,” as described by Influencer Marketing Hub.
Overall, the implementation of influencer marketing effectively allows companies to target specific niche audiences through partnering with influencers. In addition, there is a power that comes from the heavy influence on purchasing decisions that the said influencer has on their following.
Why is influencer marketing effective?
Influencers have become so popular in recent years because people want someone they can follow, both in lifestyle and with a blue button. People care to hear about influencers’ opinions and viewpoints to ultimately form their own—especially when it comes to products.
It’s from this trust that influencers have built their audiences that makes influencer marketing such a unique and impactful way for businesses to increase sales and reach new markets.
According to Top Ranking Marketing, “51% of marketers believe that incorporating influencers into their marketing helps them reach customers. Those who do it well earn an average of $6.85 in media value for every dollar they spend. And the top 13% earn $20 or more.”
B2B influencer marketing
Influencer marketing can also be used for business to business rather than business to personality. By working with another company, your business gains their credibility after they show their endorsement in you. It “defeats audience apathy and skepticism,” shared Top Ranking.
How to choose an influencer
When selecting which influencer a business wants to work with its important to understand the company’s end goal. If the brand wants to increase engagement and actual action, they might want to go with a nano-influencer (an influencer with less than 10k) as these personalities tend to have very high engagement as their following has more of a personal relationship with the influencer and might even have met most of their followers in person. For a brand that wants to increase WOM, they should target mega-influencers (with over 1 Million followers) because any post from someone with that great of reach is sure to get mouths moving.
After a business decides what type of influencer they want to work with, the next step is to examine who of that type of influencer they should reach out to. Businesses should make sure that whomever they choose has core values that align with their company’s in order for a more compatible partnership.
From there, it’s all posts and promos to really get some action from the marketing tactic. If you own a business—regardless of size (whether you’re a startup or a mega corporation) and you haven’t tried influencer marketing by now, it’s time to explore the idea.
Featured image from: Unsplash.com
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