If you have a social media account, chances are you’ve heard of influencer marketing. You might have seen #ad on your favorite blogger’s social post and wondered, how does that happen? How are companies leveraging influencers to reach their target audiences and grow their businesses?
Watch this video for a quick explanation of who (or what) an influencer is:
Ready to learn more? I’m here to break it all down.
- Who or what is an influencer?
- What is influencer marketing?
- How does an influencer marketing campaign work?
- How effective is influencer marketing?
Who (or what) is an influencer?
To step into the world of influencer marketing, you need first to understand what an influencer is. When you hear the word influencer, you might picture a model or a mommy blogger, a sports star or an inspirational speaker (#blessed). There are many types of influencers, but at the core, here’s what they have in common.
An influencer is a person or company that has social influence over a group of people. How they’ve gained their influence can come from a variety of means. They might: be experts in their field, have built a following by blogging about fashion, travel, environmentalism, or more, or be companies with loyal fans.
When I talk to companies about finding the influencers that are right for them, I ask them – who out there has already built a following that has your target audience? For outdoor retailers that might be travel bloggers, mountain climbers, or fellow retailers. For educational toys that might be teachers, homeschoolers, or mommy bloggers.
Influencers’ followings can drastically range in size. You can have an influencer with 5,000 followers that’s the perfect fit for your brand or decide to work with influencers in the 250K+.
So how do you choose the right influencers? Well, we can help you figure that out! But in general, the best influencers for your company will depend on who your target audience is, what your goals are, and what your budget is.
What is influencer marketing?
Influencer marketing is a type of marketing where you create partnerships and campaigns with influencers to expand your reach, generate sales, and promote your business.
Most often, influencer marketing leverages popular social media platforms where influencers have built their following. Think Instagram, Facebook, Twitter, YouTube, or TikTok. If your influence has a popular blog, you might design your campaign to be featured there, too.
How you successfully execute influencer marketing can vary depending on who you ask.
At Elevate, we believe that influencer marketing should be about building mutually beneficial relationships where you can find trusted, influential partners that represent your brand in the best way possible. It’s finding creative and innovative ways to highlight your product on your influencers’ feeds. It’s about standing out from the rest of the #ad content.
How does an influencer marketing campaign work?
At Elevate, here is our high-level view at the process of putting together an influencer campaign:
- Define your target audience(s).
- Set a budget and goals for working with influencers.
- Find the right influencers that represent your brand well and have your target audience.
- Reach out personally to this select group of influencers.
- Come up with a creative campaign that will stand out to their audience.
- Analyze the effectiveness of the campaign.
- Take what we’ve learned and grow. The next steps could be: choosing which influencers to turn into brand ambassadors, deciding which influencers aren’t the best fit, and coming up with new ideas for influencer campaigns.
How effective is influencer marketing?
From what we’ve seen with Elevate clients, it’s highly effective. And, there have been more extensive studies and data that support what we’ve seen.
Here are a few key statistics:
- Businesses are making $6.50 for every $1 they spend on Influencer marketing. [Social Media Today]
- 91% of survey respondents [marketing agencies and brands] believe influencer marketing to be an effective form of marketing. [Influencer Marketing Hub]
- 89% say ROI from influencer marketing is comparable to or better than other marketing channels. [BigCommerce.Com]
- Of that 89%, 34% say it’s better, and 14% say it’s much better.
Learn more about influencer marketing.
If you’re interested in what influencer marketing could like for your business, schedule a free consultation with Elevate Online’s founder Katie McNamee. She is happy to share any of her influencer marketing knowledge with you.