The rise of influencer marketing is nothing short of fascinating. As brands search for new and innovative ways to reach more potential customers, social media is becoming a primary outlet for the increasing of sales. More accounts today have a reach that can span upwards of tens of millions of people. With that type of reach, both influencers and brands stand to gain a lot.
While influencer marketing is becoming more and more popular, brands in just about every industry are wondering if it can be as lucrative for them as it is for others. The allure of this marketing approach can be tempting. However, just like any marketing approach there is no blueprint for instant success no matter the brand, product or service.
Here at MKT, we are a true marketing resource. Check out our take on influencer marketing including the things you need to know as well as understanding if it is right for your brand!
Influencer Marketing: Who Are They & What Is It?
Influencer marketing is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field. Influencers most often take the form of celebrities and in today’s world, content creators such as YouTubers, Twitch Streamers, Instagram Personalities and other media users.
In essence, the more followers a social media profile has, the more valuable they are to a brand’s efforts to promote their product or service. Brands will approach influencers and pay for either a single post or series of posts talking about the value of their product. Most often, a discount code will accompany these posts to give users a value add as well as means for the brand to track the success of their investment.
Influencer Marketing: Audience Quality
When assessing the opportunity to conduct influencer marketing, always be thorough in analyzing their audience. For instance, just because you find a social media profile with a million followers does not mean they are going to create success for your brand. As an example, you have a brand that sells custom gaming keyboards. If you come across an influencer with a huge following but their entire social media profile is all about hiking, that is clearly not a good fit. Always try to find the most popular influencers directly within your industry.
Additionally with influencer marketing you always want to evaluate the validity of the profiles you intend to work with. If you see inconsistent posting, lack of quality content, low engagement but still a massive amount of followers you are most likely seeing a fake follower account. Beware of fake followers and influencers who boast them since they will provide nothing for your brand.
Influencer Marketing: Authenticity
One of the most important things to factor into your influencer marketing decision is understanding how authentic the potential influencer actually is. The phrase people do business with people is as relevant now more than ever. In today’s world of constantly facing a hard sell, people are always looking for genuine personalities that they feel like they can relate to.
An influencer’s story, background and likability is just as important as the content they make. Users can often see right through an uninspiring money grab. Therefore, it is your responsibility to get to know your potential influencers. Finding an inspiring and engaging personality, a bonus if they already love your product, will prove to be the most effective path forward for this marketing approach.
Influencer Marketing: Should You Do It?
We know that influencer marketing is just one piece of the marketing pie. If you take the time to research influencers within your industry and find a credible pool of inspiring creators, then it is absolutely worth pursuing. However, it is very easy to hand over a bunch of money to a creator without doing your due diligence in hopes of getting miracle sales.
Here at MKT, we are a full service marketing solution. We help define complete marketing plans that leave no stone unturned. Creating a comprehensive marketing plan can be overwhelming and most do not know where to begin. MKT is here to be as little or as much of the solution as you need.
Contact us today and we can talk about your future marketing goals!