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As many brands are starting to steer towards influencer marketing advertising, it can be hard for companies to see a return on their investment in such a competitive climate. Influencer marketing is starting to make up the majority of companies’ marketing budgets, so it only makes sense that companies would not want all their hard work to be done in vain. However, the more popular influencer marketing becomes, the more difficult it is to perfect. Many companies find that they may need to adjust which type of influencers they are using and what platform benefits their brand the best. It is only when you find your sweet spot are you able to maximize your influencer marketing ROI.
Where Can I Start?
Influencer marketing is not one size fits all, there are many things that need to be accounted for before you are able to maximize your influencer marketing ROI. One great place to start is to understand your brand, are you a clothing company, a tech company, or a software company? Where would your target be more susceptible to your product? You may find certain platforms are able to reach your target market.
Just like any other type of advertising you need a plan, your advertisements should feel like they were dedicated to your market. Maybe you have been doing influencer marketing for a while but you find nothing is sticking or making a substantial enough impact. One of the best ways to maximize influencer marketing ROI is to find the best influencer that works for you. Many companies tend to stick to a certain type of influencer as they find the best return from a specific influencer’s audience.
Think a TikTok campaign is the best fit for your brand? Check out this blog to learn how to maximize ROI on TikTok.
Four Types of Influencers
1. Mega Influencers
Mega influencers are the largest type of influencer you can utilize for your business as their follower count can surpass a million followers. However, with this comes a hefty price tag. Since mega influencers know their worth they are going to charge for their high follower count. If your company can afford it, reaching out to a mega-influencer can be highly beneficial because you know that your product has the potential to be reach up to a million people. Although, working with mega-influencers is not the only way to find success.
2. Macro-influencers
Macro-influencers are a little bit different from mega-influencers as they have garnered slightly smaller followings by doing well in their area of expertise. Because of this, they have a special connection with their audience as their followers feels they can come to them for their advice. These influencers are more accessible than mega-influencers yet have higher follower count than micro influencers.
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3. Micro-influencers
Micro-influencers are mostly ordinary people who have become social media creators and have gained a big enough following through their knowledge in a particular niche such as beauty, travel, food, or even tech. They have small but well established communities around their content. Since their following size is smaller and content is directly tailored to their niche, micro-influencers develop a very devoted and personal relationship with their followers who are interested in their content or opinions creating a high engagement level. They are just like macro influencers but with a smaller follower count.
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4. Nano influencers
Nano-influencers are considered to be the most powerful influencer marketing level because of their low follower count. Advertisers are able to get a very specific reach when they work with nano-influencers. Reports prove that nano-influencers have 60% higher campaign engagement rates than other influencers and are 6.7 times more efficient per engagement. This means nano-influencers are more cost-effective than any other level of influencer.
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Working with any of these influencers can be beneficial to any brand, it all depends on what you are selling and how big your company is. Many companies have found that working with all these influencers has propelled their success while some may find sticking to a particular group shows them the most improvement. While there are many influencers that fall under each category you need to do your own research to see which influencers truly align with your brand. Try typing in Google specific keywords like “new tech vloggers,” as well as searching through hashtags. You want to pick an influencer whose followers represent your target audience.
Looking for the top influencers in any industry? NeoReach has done the hard work for you by creating a huge range of top lists you can browse through here.
Influencer Marketing Platform
Since many brands tend to reach out to the same influencers, it makes it difficult for those influencers to respond to every brand. Multiple companies are fighting for the same audience. Another way to sure your company is heard and to maximize your profit is to invest in an influencer marketing platform or agency that can do the hard work for you. An influencer marketing platform is software that is designed to assist brands with their influencer marketing campaigns. These platforms house hundreds to thousands of statistics and very unique data that is vital to influencer marketing which will help maximize influencer marketing ROI.
Neoreach
Neoreach is among the best influencer marketing platforms to increase your influencer marketing ROI, as they use an algorithm to search the internet for data that results in more than 3 million influencers for brands. They provide companies with a plethora of services that include detailed reporting and insights, connecting brands with influencers, influencer research, campaign management, assistance in tracking campaign performance and in-depth influencer data.
What platforms does the NeoReach database have access to?
- TikTok
- Youtube
- Snapchat
- Clash
This extensive platform list gives brands the opportunity to really expand their reach. Having access to influencer data from all of the top social media platforms that are popular amongst many consumers will give you a strategic advantage over competing brands. You will know which influencers will fit your brand, which influencers are are better for a specific platform, and also be able to track the success of your campaign. This will ensure that brands will be able to find significant success in the return on their marketing investment. Neoreach also offers a freemium version which is a free influencer marketing platform that breaks down the scouting process for an influencer into categories.
Interested in using a free influencer search tool on your next campaign? Check out this blog for our list of the best.
Having access to an influencer database allows you to narrow results by total followers, social media platform, location, type of creator, and audience metrics. You can also get influencer metrics, which reveal crucial information about an influencer’s platform so you can determine whether their platform will be productive for your campaign. Additionally, with insight into the creator analytics, you also can see the breakdown of their audience demographics and the ability to create your own lists and organize all this free information. While freemium does come with some restrictions, this is a step in the right direction for a long-term goal.
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References
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