In this hyper-digital world of marketing, there are a lot of buzzwords floating around and Influencer Marketing is one of them. Some brands swear by them others don’t really care.
Even though it’s fairly new, it’s one of the fastest-growing marketing industries in the current era, estimated to be worth billions in 2022. So how do you figure out if your company needs it and which influencers to work with? To help you with this decision, we’ve put together a list of 5 things to consider before investing in Influencer Marketing.
Recheck Your Target Audience
As a brand owner, you already know who your target is, and if you don’t you can check out our blog on this to get a better idea. Before investing, especially for small business owners, it’s best to analyze how your brand is performing in that audience and what changes are in their behaviour.
Having an updated idea about your niche will help you figure out which influencers align best with your brand. You’ll also get an idea about influencers who are popular among your current audience.
Decide On A Social Platform
You want to run your marketing campaigns on all platforms but everyone has a preferred one. The chances of you having more followers in the one you’re most active in are high. If you are equally active on different channels, try looking into which ones get the most engagement, have more followers and your target audience.
The platform you choose will also impact your marketing campaign because of the different layouts. Instagram’s layout is great for static images, visual graphics and short videos whereas Facebook is better for copywriting and longer videos. Tiktok focuses on short videos with music or a voiceover on top.
Considering all these things, you can start shortlisting the influencers that match your brand’s goals and are prominent among the platform you chose.
Test Out The Waters
Before launching a full-fledged campaign with one influencer, you could try sending out PR to the ones you’ve either shortlisted or think would be a good fit. This way, you can test out how your customers react to endorsed content and sponsorships. It’s also an opportunity to understand the influencer’s sense of strategy and work ethic.
You want to work with people you like. Checking out if your brand and the influencer can click and have professional chemistry is a must. It would be damaging to your brand image if things don’t work out with the influencer, not to mention the wasted capital.
Creators have varying prices per post depending on the size of their following, the type of content you want them to deliver, for example, video content costs more than photos. Here’s a rough estimate to help you get an idea
- Nano-influencers (1,000–10,000 followers): $10–$100 per post
- Micro-influencers (10,000–50,000 followers): $100–$500 per post
- Mid-tier influencers (50,000–500,000 followers): $500–$5,000 per post
- Macro-influencers (500,000–1,000,000 followers): $5,000–$10,000 per post
- Mega-influencers (1,000,000+ followers): $10,000+ per post
- Celebrities: Varies but $1+ million per post isn’t an uncommon number.
Depending on your marketing budget, you can choose the category of influencer you want to work with. It would be worth noting that more followers don’t automatically mean better delivery, it just means the possibility of more reach.
Influencer Marketing Platforms
If you’re still confused about which influencer to work with or feel like this is too much work and you might mess up, here’s a list of online marketing platforms that will match you with the perfect influencer.
- HypeScout : HypeScout is a data-driven influencer marketing platform that helps brands to find and collaborate with the right influencers at scale, based on the campaign requirements such as, industry, follower count, engagement rate etc. The company offers their features at a much lower rate than other platforms as they believe in empowering startups and new entrepreneurs in their marketing journey.
- Heepsy : An online influencer discovery tool that can find Instagram influencers by category, number of followers or location based on your preferences. With their audience metrics feature, you can check the metrics related to their content and review their aesthetics to make sure they match your brand message.
- Upfluence : Upfluance is a complete influencer marketing platform, offering a variety of features. The app’s influencer search and discovery engine feature over 3 million influencer profiles for you to choose from. Advertisers can find influencers by using keywords to find similar interest.
- Influence.co : this platform takes a different approach than most influencer platforms. Influence.co offers all the usual influencer marketplace services but it is designed like a social media platform. It allows brands to build their relationships with influencers whose posts come up in their feed
The Bottom Line
Influencer marketing has gained drastic popularity and because of good reason. As a brand owner, you want to incorporate this modern and effective approach within your marketing campaigns. Although, with the number of influencers out there it can get very confusing. With this guide, you’ll be better able to choose the right influencers for your brand to awareness and take your business to the heights it deserves.