Influencer marketing has grown from a marketing fad to one of the most significant elements of marketing spend. Influencer marketing allows companies to target customers in a more direct manner than traditional advertising. However, influencer marketing campaigns require meticulous planning and thought. Working with an influencer marketing agency can ensure that your influencer campaign reaches the proper audience, with the right influencers, while also preserving your brand’s messaging and values.
Let’s start with the basics: what is influencer marketing?
Influencer marketing is a type of social media marketing that uses endorsements and product placements from influencers—people who have a large following on social media—to promote your brand or product.
The goal of influencer marketing is to build awareness of your brand or product, create buzz, and ultimately drive sales.
There are different categories of influencers you can use for influencer marketing. These are nano, micro, macro, hero and celebrity.
Nano-influencers are your everyday social media users, with anywhere from 100 to 10,000 followers. While they have small followings, their audiences are niche and hyper-engaged, offering impressive results.
Micro-influencers have between 10,000 and 50,000 followers and usually specialise in a particular niche, so it’s important to find one that aligns with your brand values.
Macro-influencers are similar to micro-influencers, but with even larger followings (between 50,000 and 500,000). The main difference between macro- and micro-influencers is reach—a macro-influencer has the potential to reach a much wider audience than a micro-influencer. Their increased reach does mean a lower engagement rate, but their audiences are still active.
Hero influencers have huge followings of between 500,000 and 1+ million. They are great options for raising mass awareness. Due to their huge followings, their engagement rates are significantly lower than the other types of influencers.
Celebrity influencers are those of celebrity status—your Kim Kardashians of the world. Celebrities aren’t regularly used as influencers anymore, but they are used as brand ambassadors.
Working with an influencer marketing agency
There are a few things to consider when choosing an influencer marketing agency:
- What types of influencers does the agency work with?
- What is the agency’s process for finding and vetting influencers?
- How does the agency measure success?
- What is the agency’s average cost per campaign?
The best influencer marketing agencies will have experience working with all types of influencers. They should also have a process for finding and vetting influencers to ensure that they are a good fit for your brand. The agency should also be able to measure success and provide a cost estimate for their services.
How much does influencer marketing cost?
The cost of an influencer marketing campaign will vary depending on the size and scope of the project. Generally, the larger the campaign, the higher the cost. Celebrity endorsements can cost tens of thousands of dollars, while working with micro-influencers may only cost a few hundred dollars.
It’s important to work with an influencer marketing agency that is transparent about their pricing and can offer a cost estimate for your specific campaign.
The benefits of influencer marketing
There are many benefits of influencer marketing, including:
- Increased brand awareness
- Improved brand reputation
- More engaged audiences
- Greater reach
- Increased sales
Influencer marketing can help you achieve all of your marketing goals, from increasing brand awareness to driving sales. It’s an effective way to reach new audiences and build relationships with influencers who can help promote your brand.
Influencer marketing can be time-consuming and expensive if not done correctly. It also requires careful planning to ensure that your campaign is successful. There is also a risk of negative publicity if an influencer says or does something that reflects poorly on your brand—this is why working with an influencer marketing agency is a good option to consider.
Influencer marketing best practices
Here are a few best practices for influencer marketing:
Do your research: Make sure you understand your target audience and what type of influencers they respond to before starting your campaign.
Set clear goals: Define what you want to achieve with your campaign and make sure that your goals are measurable.
Budget carefully: Consider how much you’re willing to spend on your campaign and find an influencer who fits within your budget.
Be selective: Don’t work with just any influencer—make sure they align with your brand values and that their audience is engaged.
Measure results: Track your progress and adjust your campaign accordingly to ensure that you’re meeting your goals.
Influencer marketing can be an effective way to reach new audiences and promote your brand. However, it’s important to do your research, set clear goals, and budget carefully before starting your campaign. You should also be selective about the influencers you work with and measure your results to ensure that your campaign is successful.