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To begin let’s first summarize what exactly “influencer marketing” is, and what exactly it means from the perspective of a brand. Influencer marketing is the partnering of popular social media users with various brands in an effort to shape the audience/consumer’s purchase decisions and behaviors.
Given that popular social media users hold a level of influence over their followers, they are a great source of marketing for businesses. In this blog, I will outline all the frequently asked questions pertaining to influencer marketing to allow you to increase your understating and optimize for brand’s income and engagements.
1. How Long Has Influencer Marketing been Around?
The act of influencing has been around since the beginning of time. However, the first marketing-focused type of influencing dates back to the early 1900’s when Babe Ruth was in his prime. Babe Ruth endorsed various companies in the early 1900’s, given his popularity and large following. Companies witnessed the successes of the companies Babe Ruth endorsed, and this new type of marketing grew. However, influencer marketing today looks very different than it did in the early 1900’s given the invention of the internet. In 1994, Justin Hall created the first blog ever. By 2005, $100 million worth of blog ads were sold and influencer marketing emerged.
2. What Is the Difference Between an Influencer and a Brand Ambassador?
The difference lies within the type of work influencers vs brand ambassadors do. Influencers treat their blogs or social media networks as a business, with their “consumers” being their many followers. An influencer typically runs short term brand deals and campaigns. Brand ambassadors, however, may not have as large of a following and tend to work with brands for longer periods of time. Ambassadors are typically paid on a retainer basis or for representing a brand in a loud and proud fashion.
3. What Are the Most Popular Industries for Influencer Marketing?
Burst Media held a study that found the highest earned media value per dollar was in consumer packed goods, including food, retail, and travel. Food earned roughly $11.33 per dollar spent on marketing, retail earned roughly $10.48 per dollar spent on marketing, and travel earned roughly $7.04 per dollar spent on marketing. These categories are among the most successful, therefore, the most invested in categories.
4. Is Influencer Marketing Applicable to Every Brand?
Not necessarily. Although you can tailor your campaign to fit the needs of your brand, influencer marketing may not be for you. Evaluate your target audience, and think of ways to reach that audience. If your audience is on social media, you are far more likely to benefit from influencer marketing.
5. What Are the Four Steps to Running an Influencer Marketing Campaign?
- Find your influencer. You must first find an influencer that will appeal to your audience. Be sure to pick an influencer that has the following equivalent to your target audience to ensure your campaign is as successful as possible.
- Hire and engage. After delivering your pitch, negotiate a timeline, and discuss compensation. Although this step is merely logistics, it is crucial to a successful campaign. You must ensure both the brand and influencer is satisfied with the terms before proceeding to step three.
- Track and monitor. Monitor your progress to ensure you reach your goals. For many, this may be the number of sales. Be sure to record and store data. This step will allow you to see if the influencer is performing well.
- Measure. Through analyzing your data, you can observe the impact of the influencer’s work. Through measuring the success of the campaign, you can make educated decisions pertaining to influence marketing in the future. For many, this step may include measuring your sales for the given period.
6. Do You Need a Large Following to Be Considered an Influencer?
Influencing is more than just large numbers. Influencer marketing is more concerned with quality, not quantity. Although most influencers have many followers, there is far more to consider when identifying an influencer. For instance, a “micro-influencer” is an influencer with a smaller, but more engaged audience. Micro-influencers often have a specific and local area, and are perfect candidates for local brand deals and campaigns!
7. How Do I Find Influencers?
You can locate influencers by scrolling through the web, looking at social media platforms such as Instagram, or by using an influencer marketing platform. Many marketing platforms offer search engines that allow you to type keywords, making the selection process more accurate and time efficient. Be sure to consider your audience demographics, target audience, and be sure to match the interests of your influencer with that of your audience.
8. How Do I know if My Influencer Marketing Campaign Is Successful?
The success of your campaign depends on your objective. For instance, if your objective is to increase sales, a campaign that brings in new customers and produces more sales would be considered successful. If your campaign’s objective is to increase engagements on a specific social media page, your number of followers/engagements are a good measure of success. You must establish an objective in order to measure the success of a campaign. Every campaign is relative!
9. Do Influencers Have Restrictions when Promoting a Product or Brand?
More often than not, yes, there are legal restrictions for the safety of both the influencer and the audience. Restrictions are in place to minimize deceptive practices. For instance, any endorsement of a product done by an influencer that is paid for by a brand must be disclosed as a paid message. In addition, influencers can not make false claims about a product.
10. What Are the Most Effective Social Channels for Influencer Marketing?
The effectiveness of various social channels is dependent on your product, brand, and influencer. For instance, if you are endorsing home décor, Pinterest and Instagram may be more successful than Twitter and Snapchat. There is no definite answer to this question, as it is relative to your brand! Common social channels for influence marketing include but are not limited to: Instagram, Facebook, Pinterest, Twitter, Snapchat, YouTube, Google, etc.
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This article was written by Kyleigh Eaton.