Influencer marketing is not a new idea, despite its growing popularity in recent years. People in the spotlight have been endorsing brands for as long as we can remember, both professionally and without any monetary compensation. We have watched Kate Middleton wear dresses in public before, but how often are media outlets sharing where to buy them the following day?
However, well-known faces aren’t the only ones to be seen. Instagram is full of people wearing things you want, even if you don’t know them. It even happens with people we know, we almost have this FOMO-like feeling that drives us to splurge on something that we don’t need, just because someone else tells us it’s good. A powerful influencer can have a huge impact on our purchase decisions, which is why influencer marketing is so effective.
Influencer marketing is growing in popularity, and more brands are dipping their toes into the waters. Discussions about effective strategies are vital. If we invest some money, what should it be? Where can we promote our brand most effectively? How can we reach our audience? With whom should we partner? Choosing your influencers is just as important as deciding upon those platforms and a proposed budget.
Global brands often choose celebrities for product and service endorsements when it comes to choosing representatives. Among the celebrities who have appeared in advertisements and campaigns for some of the world’s largest brands such as Nespresso, Chanel, and Pepsi are George Clooney, Beyonce, Nicole Kidman, and Tiger Woods.
However, what if you don’t have a budget of millions and cannot afford celebrities like Venus Williams or Ronaldo to pose for your new sportswear line? Should you not invest in influencer marketing? Using that budget on lesser-known faces might actually work in your favor.
Marketing professionals have been hearing the buzzword ‘micro influencer’ for quite some time now. We initially weren’t sure what this included, but now we understand that these influencers could be crucial for influencer marketing campaigns, and Influencer Marketing Hub’s report confirms that these influencers are attracting the highest engagement rates, particularly on Instagram and YouTube.
Micro-influencers aren’t typically seen on our screens and radio because they tend to have communities of followers in the 50k range. Instead, they are almost entirely discovered through social media, establishing and growing engaged followers who are genuinely interested in their content. Influencers often dedicate time to responding to individual comments and messages within the communities, they have created, whether it’s in Discord channels, Facebook groups, or simply their own personal social media accounts.
The argument for micro influencers
The way audiences consume brands has changed, and they expect more experiences from businesses that they engage with. Our dependence on shopping and living almost exclusively digitally has been further increased by the recent Coronavirus outbreak and as we are forced to live our lives online. We also have to take note of the impact on how we communicate, with digital presence now being an absolute priority. In addition to the issue of growing engagement online, which is very much a conversation in itself, we’re also competing in a more crowded market with a greater need to stand out. It is because influencers already have an audience that you have access to right away that they can be so beneficial.
There is a high probability that your brand will be seen by micro influencers because their audiences are more engaged. Furthermore, micro-influencers tend to feature only products and brands that resonate with their audiences, taking pride in the fact that they have an exclusive audience of followers who look to them for recommendations.
Taking values into account is also related to this topic. Influencers are all individuals with values and beliefs of their own, which means they have their own set of beliefs. However, with the increasing popularity of influencers, these values have sometimes been blurred. We’ve all seen celebrity posts promoting toothpaste to whiten teeth and teas to detoxify the body, only to have the posts removed after a few weeks. This has also brought in the discussion of how legitimate influencers actually are and it has caused consumers to become skeptical. An effective influencer will only be happy to create content that they truly care about and that they know their audience will engage with, not featuring something because it gives them a high paycheck.
Micro-influencers have a stronger understanding of their audience than most content creators. Engagement rates are higher when users know what content to expect and what conversations to expect.
It is unlikely that choosing a micro-influencer without any research will lead to an impressive ROI. According to the engagement rates of this group of influencers, aren’t they an option worth considering?
What about macro influencers?
Quantity does not equate to quality, so choosing among influencers with 10k and 1 million followers is not a simple task. We’ve already outlined some of the reasons why micro-influencers are more effective. Nevertheless, macro-influencers, those with between 500k and 1 million followers, can also be beneficial.
Despite having a lower engagement rate than their micro counterparts, macro-influencers aren’t worth the investment just because they don’t require the same level of spending. In many cases, micro-influencers are considered experts in their fields and are regarded as household names. Collaborations can be fruitful if the influencer shares your values. Even if their celebrity status doesn’t make them as relatable as micro influencers, their content is likely to be shared regardless.
If you want a high return on investment, you need to research whether you’re working with micro or macro-influencers. You must dig deeper and look at engagement, data, and audience before selecting an influencer.
Begin by asking yourself what kind of audience you want to target and what sectors you want to target. Identify who the major players are. The best way to engage and interact with your audience is to align your message with the person who is engaging and interacting with their audience
Influencer selection might seem complicated, but it isn’t. These three methods can help you select the best brand representatives for your next campaign.
Trust the Data
Data can be frightening to some marketers, but it gives us a solid basis for why certain activities should be implemented over others. Influencer marketing campaigns can be extremely successful if crucial data on engagement and impressions are understood.
You can analyze the effectiveness of content posted by influencers in many different ways, from requesting individual media packs outlining reach and engagement data to analyzing site traffic and tracking purchases.
For those who wish to analyze influencer activity right from the beginning, CreatorDB offers an option. CreatorDB allows users to identify which influencers will be most effective for a campaign, and it brings together data from creators’ social profiles with data from its own proprietary database to determine the most efficient use of funds.
This dashboard makes it easy to track content as it is posted to Twitch, YouTube, TikTok, Twitter, Instagram, and Facebook, and lets you view metrics on live content broadcasts and reels during the campaign.
Creating an influencer marketing campaign that is successful requires the use of data and should be incorporated from the beginning.
Know your platforms
Several social media channels are constantly changing, from introducing new algorithms to adding features that provide a better user experience. Social media is fast-paced by nature, so keeping a finger on the pulse with the channels you use is crucial.
While it isn’t necessary to know the ins and outs of every social media trend, which would easily take up hours of your time, you will need to familiarize yourself with the platforms on which you plan to work with influencers.
Think about this:
- What is my audience’s usage of this channel?
- What kind of language are they using?
- What kind of content does my influencer create?
- Does this represent where most of my audience consumes information?
- How should we present our content?
Influencers might not have a strong presence on all social media channels, and just because a Twitch streamer has millions of followers on Twitch doesn’t necessarily mean that they have the same engagement on Facebook. It is imperative that you understand how your influencer performs on the platform you are targeting.
Don’t Run Before You Can Walk
The world of influencer marketing can be intimidating – from the sheer number of creators to the issue of transparency, fake followers, and proving impact and return on investment. You can get big returns using influencer marketing if you get it right, but spending thousands of dollars on creators without careful consideration will not get you there.
You should do your homework, look at what your competitors are doing, and familiarize yourself with what you can expect from influencer partnerships and endorsements. Talk to experts who can advise you on who will be the most influential influencers and decide what you want to achieve.
Instead of winging it and hoping for the best, work with professionals and agencies that specialize in influencer marketing.
Influencer marketing can have a tremendous impact on your overall marketing strategy, and if it’s done correctly, you’ll enjoy higher ROI, better relationships with content creators, and a wider audience reach than what you’re currently working with.
Learn more at CreatoDB.