Influencer marketing is the chance to have someone with authority, an influencer, market you.
The influencer endorses your brand, grows your exposure to their audience, and helps you sell more products (or gain new customers).
The advertising by an influencer is created either entirely by them or with your assistance, and the content can be in the form of; social media posts, blog posts, videos, case study’s or testimonials.
Irrespective of what business you’re in, this type of marketing strategy can be extremely effective. Any industry can try this marketing strategy.
When we think of influencer marketing, we may think of a Kardashian posting a photo on Instagram of them holding up a product.
Yes, that is one type of influencer marketing, however there are other kinds of influencer marketing that are more realistic for average brands.
You don’t need to have a celebrity to be successful with influencer marketing, especially since 30 percent of consumers are more likely to buy a product recommended by a non-celebrity blogger.
Let’s get down into the fundamentals of influencer marketing and learn those other types, and how you can start developing your influencer strategy.
First things first, let’s cover the why and how.
Why everyone needs influencer marketing & how to use it.
By only using traditional digital marketing (SEO, PPC, social media, etc.) then you’re missing out on a huge opportunity to increase your ROI.
It doesn’t matter if you’re an agency, brand, or business – everyone can benefit from trying influencer marketing.
Influencer marketing is not “out of your league.” Let me explain why.
Agency Influencer Marketing
However many clients your agents has is how many influencing opportunities you now have.
Agencies have the capability to use their personal clients, the ones they like and that like them, to help promote their agency for them. Think of it like getting a referral.
New Content and Case Studies
Capitalize on this process and ask your clients for video testimonials, to become a part of your referral program (create one), and if you can use their results for case studies.
If you’ve actually been able to positively impact a client, they’re highly likely to say yes to you sharing the story of how you took them from 1 to 10.
Collect a dozen different case studies from your past and current clients to publish on your website, social pages, email newsletters, and in ads. This isn’t only additional content, but content your existing and new clients will appreciate.
If you really helped them reach their goals, they’re going to love the PDF filled with graphics, charts, and impressive numbers to share with other business owners.
When businesses use influencer marketing, we as consumers notice it the most. Heres an image/ video of TV personality Sophie Monk advertising health foods on her Instagram.
However, businesses don’t have to use reality TV stars to promote their products for them, in order to make influencer marketing work for them.
If your business makes car parts for the car manufacturing industry, look up a list of the most famous car manufacturing businesses and reach out. Doing outreach is a large part of influencer marketing. We need to tap into PR and Journalism as marketers, to find the right businesses to work with.
Try to gain as many influencers as possible; the more the merrier!
If one of the most famous car manufacturers uses your parts for repairs, your business will be presented to many. Other car manufacturers are going to trust the famous manufacturer and follow their footsteps to purchase and use only your parts.
One of the largest ways brands utilize influence marketing is when they partner up with other brands.
Brands are both the large corporate players like Coca-Cola, but they’re also the specific brands like Instagram famous stars and YouTube celebrities.
A brand can be an individual brand. It can also be something that signifies a larger entity, like extreme sports.
They can use both appropriate brands, that are in the same industry, or touch out of the range and partner with completely dissimilar brands to gain their exposure to an entirely new audience.
If you engage with the wrong brand for your influencer marketing it can reflect your reputation, and possibly ruin it. For example, for a YouTube celebrity to partner up with James Charles, now really isn’t a good time.
If Red Bull were to partner with Coca-Cola for a new content campaign it wouldn’t work out so well. Even though Red Bull is involved in the world of extreme action sports. However, because of their actual product, an energy drink named Red Bull that essentially “gives you wings”, the product and content angle make sense.
Because they are competitors for being on-the-go drinks it wouldn’t make sense for the brands to team up.
How to know when to pay an influencer
Usually samples of the product you’re asking them to promote, discounts, or free services will suffice as payment for your influencer.
However, where it changes and becomes a more-costly strategy is when you pick who the influencer is.
Generally; the bigger the influencer, the higher payment they’ll want.
Influencers who will be of high cost to you
If you’re looking for Kardashian style influencers and you have the budget to match this exposure level then absolutely, go for it!
You need your contracts to clearly state what is expected of the influencer. If you want them to run the content by you before they publish it, specify that in the contract. If you want the influencer to only be able to promote your car parts and not work with any other car part companies, state it in the contract.
Influencers who will be of low cost to you
For the majority of businesses who won’t have the budget for larger higher paid influencers like the Kardashians, you may want to look into “free” influencers. These will be the people that already love your product or love what you do and will be willing to advertise for you for pretty much free.
@frank_bod is a great example of this.
People love their products, coffee scrubs and other products with a witty twist. The brand speaks their customer’s language and therefore makes it fun for customers to actually engage and promote the product themselves.
This company can just monitor their hashtag mentions and unlock hundreds of potential influencers that would love to receive a free month supply of products for posting more about their brand.
Look at what kind of mentions your brand/business/agency is attracting online and follow the conversation. You’ll quickly discover who’s talking about you the most.
Then, look at their followers. If they have a healthy following reach out and see if they’d be interested in partnering up with you on an influencer campaign.
However, what if no one seems to mention your brand?
Don’t worry. There’s a solution for you, too.
Look at your large competitors. Think of the Red Bulls and Coca-Colas of your industry.
See what kind of mentions they’re getting and from who. Reach out to those influencers and pitch away.
Plus, they may not want as much as you think or even be willing to promote for free after getting to know more about you and your business.
Want to make the most of your marketing by involving influencer marketing in your business? Message us at Media Lion Digital marketing Agency and we can help!