What’s with Influencers and How Can They Help your Business?
Influencers are individuals that have revolutionized markets and have become their own new type of famous. Thanks to the rise of social media, there has been a rise in seemingly “normal” individuals gaining recognition in a certain field through the internet. These fields can range from beauty, comedy, gaming, lifestyle, fitness, cooking and so much more!!!
Influencers have created their own brands through social media platforms that have made them power players in the marketing arena. Many companies are now realizing the strength of marketing through these individuals because of their already loyal base of followers.
If companies are able to tap into this type of marketing, there is a chance of growing their audience and improving the way they connect with their customers. To first accurately take advantages of Influencer Marketing, your company must:
- First, identify Influencers within your company’s niche or industry.
- Make a list based on how certain Influencer’s specific audience sizes and types fit with your business. Also ensure that their approach, aesthetic, and culture relate to your brand.
- Next, make a connection!! Often times Influencers have their business emails in their one or all of their social media platforms.
- Finally, create a partnership with Influencers that will allow them to promote your product!
There are different ways this partnership can play out in terms of content.
- Influencers can take simply take a picture with your product and post in on social media. They can tag your company’s social media or even a direct link for purchase for consumers to follow. This is good from companies with tangible everyday products. Such as fashion items, household items, workout equipment, food, supplements and more!
- Interview an Influencer that might have a special knowledge of the field your company is in. This will create content for your site! Linking a well-known name to your site may also help get traffic there!
- Have the Influencer create a review of the product whether through a blog post or video. Having an individual, like an Influencer, that the consumer views as a trustworthy source is optimal.
Which Influencer is right for you?
There are different levels of Influencers. Some studies have found that the “sweet spot” for the level of followers an Influencer has is between 10,000 to 100,000 range. This range between 10,000 to 100,000 followers is known as a “micro-influencer”. Any less than 10,0000 followers, the reach may not be worth it to sponsor a post. Anymore than 100,000 followers might be costly and not produce as many leads as you may think. Consequently, it was actually found that Influencers that have between 1 million to 10 million followers only have about 1.7% of followers liking their posts.
In the photo above, there is a mix of levels of Influencers. From micro-Influencers to Influencers with millions of followers. Forbes has a great list they have compiled of some of the Top Influencers in each field.
So How Do You Know if Influencer Marketing is Worth it?
It’s been proven! One study showed that campaigns that used Influencers to promote their business or product showed a 10x increase in conversion rates! Another study polled marketers from different industries, out of those marketers 94% had said that Influencer marketing is in fact effective!
Generally, Influencer Marketing is a good thing to just even try out! Often times it’s much cheaper than other types of marketing. One report showed that 60% of brands “rarely” or “never” give compensation to their Brand Influencers. Instead, they give Influencers the product for free to try and promote. While this may be cost effective, it may not always be the best way to do business while making healthy, long lasting connections. We would suggest setting aside a small amount of compensation for brand partners.
Overall, here at Siebert Advertising, we would suggest seeing how Influencers can help promote your business! Contact Us to analyzing your business to connect you with the BEST influencers in your field!