Unless you’ve been living under a rock, you’ve likely seen influencer marketing. Carefully placed brands popping up in casual photos and videos from your favorite social media celebrities are everywhere these days. The power of influencer marketing is undeniable – the influencer marketing industry was worth $1.7 billion in 2016 and rose to $9.7 billion in 2020. So how do you get started with influencer marketing? What’s the difference between micro and macro-influencers? Let’s discuss.
Benefits of influencer marketing
No matter what industry you’re in, it’s highly likely that there are micro and macro-influencers within it. That’s the thing about influencers: they’re regular people. Unlike celebrity endorsements, influencers can be anyone and anywhere. That’s part of what makes them so effective – they’re relatable and agreeable. So regardless of your niche, however small or big your industry is, there will be influential people in the public eye who can lend their voices to your product or service.
Since the influencers in your area of expertise are respected and trusted by their audience, by using them to market your product you will gain some of that trust. On top of that, you’ll be reaching a wider audience and getting more leads. When done right, you’ll also get more site visits, more followers, and most importantly, more sales.
Need more proof? In one case study, 258 influencers shared content about Silk Almond Milk. Of the households exposed to the content, 10% bought Silk products, and about $285 per 1,000 viewers was spent on Silk products. That’s 11 times the ROI of banner ads on the blog posts alone.
How to break into influencer marketing
- Find influencers
First, you’ll need to choose the platform you’re focusing on. This should be based on your industry – for example, the beauty community is huge on Instagram and Youtube. Then research influencers you want to market through. The size of the influencer’s following will determine how much you’ll need to pay and how to contact them. Micro-influencers have less than 2,000 followers whereas macro-influencers have more. Micro-influencers zero in on a few key topics while macro-influencers have more reach and typically cover more ground. For smaller influencers, you can usually send a direct message. For larger influencers, look for instructions on contacting for business inquiries – they may have an agent who handles this for them.
- Set goals
Get specific with your goals. Influencers can help you reach a really specific set of people, so the more you can hone in on goals, the better. Do you want to expand a certain area of your audience? Do you want to promote your new product to specific people? Setting these goals will help you put together a clear strategy.
- Create the campaign
Once you have the goals, create your campaign around them. Will your influencer be sharing your new product? Perhaps they’ll be highlighting your values. Be sure you put in the research ahead of time to get the most out of your campaign. Whatever you land on, be strategic and organized with your approach.
- Managing the influencer marketing campaign
Micro or macro-influencer, you’ll need to track results. This will depend on your goals with the campaign. If it’s a sales focus, you’ll track affiliate codes or links. If it’s reach, track your new followers and interactions with the posts connected to the campaign. When dealing with the influencers, be sure to take a human approach – these are people, not just businesses. You should also discuss expectations for continuous communication for ongoing campaigns. On your end, work this communication into your marketing and PR schedules.
- Ongoing adjustments
For ongoing campaigns, you’ll need to plan when you’ll measure progress. As you review results, be ready to refine your strategy and adjust as you go. This will ensure that you get the most out of your influencer marketing.
Influencer marketing on Instagram and other social media platforms is a powerful tool to have on your side. It can help you connect with super specific, targeted audiences. Choosing the right influencer – micro or macro – for your brand’s needs and creating a strategic plan is key to your success. Have you started researching the right platform, influencer, and strategy for your own marketing influencer campaign?