Influencer Marketing
“Influencer marketing” has been a buzzword for awhile now, but if you aren’t an influencer or a Marketer, those words can be vague and confusing. Let’s dig into what an influencer actually is, the different types of influencers, and what it could look like to hire them as one of your Marketing tactics.
Influencer marketing isn’t exactly a new concept. Brands have been using celebrity endorsements for years, and paying huge amounts of money to do so. Back in the day, this type of Marketing was limited to big-name movie stars, athletes, and singers. Today, you don’t have to be a celebrity to book an advertising deal or become a paid brand ambassador.
What is influencer marketing?
So, what exactly is influencer marketing? Sprout Social defines it as “a type of social media marketing that uses endorsements and product mentions from influencers– individuals who have a dedicated social following and are viewed as experts within their niche.” Think of it as a hybrid of tried-and-true celebrity endorsements mixed with the newness of social media content marketing.
The influencer shares their life online: what they like, what they don’t like, what they’re wearing, and their life “behind the scenes.” Over time, they build trust with their followers. Followers feel like they actually know the influencer – so when they suggest you try Tarte’s latest lipstick palette, it feels like your friend is letting you in on their new favorite beauty secret. This approach feels less like a cold sales pitch, and because of this, it’s highly effective.
Here’s an example of influencer marketing for Wal-Mart Pick Up:
Types of Influencers
There are two types of influencers: micro and macro-influencers. The difference between these two are based on follower count. Micro-influencers typically have a follower count of 10,000 to 100,000, while macro-influencers boast followers in the 100,000 to 1 million+ range.
You can probably guess that macro-influencers cost more per post, but micro-influencers can also drive some pretty powerful results for the brands they partner with. Micro-influencers fit more easily into the “friend” role and connect on a more personal level with their followers. They may have a smaller audience, but they also have a more defined niche. Chances are there’s a micro-influencer in your area (and budget) you could use to grow your own business or sell your own product/service.
Big brands and small businesses alike are leveraging influencers to market their products/services. According to Statista, the influencer marketing market has skyrocketed from 1.7 billion dollars in 2016 to a whopping 13.8 billion dollars in 2021.
It doesn’t look like influencers are going away anytime soon. Unlike celebrities, influencers exist everywhere (geographically speaking) and across every industry imaginable. They’re a more attainable, and affordable, form of endorsement advertising that can elevate brands, increase sales, and create new customer bases.
Let me be real with you for a minute — influencer marketing is not for everyone right off the bat (or even at all, in some cases). If you’re launching a new business, you’ll likely want to stick to traditional Marketing methods, work on refining your product/service, and growing your business. Once you have your feet under you, influencer marketing could be a good avenue for you to explore.
If you have questions about influencer marketing and/or think it may be a good fit for you, our inbox is always open. Find an influencer in your industry and give them a follow— this is a great first step to see what/who they’re sponsoring, what your competitors are Marketing, and what potential your brand could have in the world of influencer marketing.
