Influencer Marketing

Image - Influencer Marketing
Image – Influencer Marketing

In Influencer Marketing, a celebrity or an authority in an industry-specific connects with your company and lends credibility to your services, brand, or product. As the celebrity or athlete is famous, their association with your brand makes it even more popular and targets a broader audience within the marketplace. The followers’ appreciation for their Influencer gets passed on to the brand. The channels used for Influencer Marketing to engage brands are emails, Websites, Social media, Events, Phonebooks, Referral Marketing, etc. Define common goals such as Social Reach & Relevance and CTA Direct Response Marketing. Get valuable ROI from your campaigns by making choices for the right ambassador to represent your brand. Measure the success of your Influencer Marketing Campaigns by defining Metrics & KPIs.

Table of Contents – Influencer Marketing

Internet Celebrity has a large following on social media marketing channels such as Instagram, YouTube, Facebook, Blogs, Twitter, etc.

fig 1 - Influencer Marketing Basics
fig 1 – Influencer Marketing Basics

Influencer Marketing Basics

Improve your brand with Influencer Marketing. Analyze Influencers and create a strategy for your brand before you can approach them. Test, learn, and then screen them to identify the right influencer. How the Influencers drive the brand message to their audience can generate a lot of organic traffic, and increase brand awareness and sales. Opt for micro-influencers so that you do not exhaust your budget by betting on Celebrities /Macro-Influencers. The micro-influencers are best suited for social media on a regional scale. They integrate with the culture as they have a hold on the local market. Moreover, relevant micro-influencers can be reliable and more suited for your brand.

Issues related to traditional marketing like billboards, newspapers, and television commercials can be overcome with Influencer Marketing. Here brands and influencers work together in a campaign to expand the campaign’s reach. Before starting a campaign know the audience for your product, brand, and/ or services that you want to reach through your channels. As you are aware of your Company you are sure to know who your customers are. If not then you need to construct buyer persona profiles composed of demographics of customers for your brand.

fig 2 - Types of Influencers
fig 2 – Types of Influencers

Influencer Marketing: Types of Influencers

As a brand with diverse strategies in place, know which type of influencer fig 2 is a perfect fit for your brand. You need to find a list of influencers on social media who have established creditworthiness in their particular industry. Brands now see engagement with their content in terms of brand loyalty and with increasing ROIs, the significance of differentiation of the types of influencers cannot be ruled out.

Nano Influencers

Nano Influencers are used for those purchases made without much thought and include products such as smartphones and small electronic gadgets, lifestyle, fashion, beauty, and cosmetics. These social media followers have around +/- 5000 users that reach their community through its fan community followings. For example, Beauty & cosmetic businesses reach their audience by roping in members from college campuses, working women, and home mom groups by turning them into advocates for their brand. Nano Influencers are cost-effective and can follow a word-of-mouth strategy for brands.

fig3 - Micro-Influencer-Kavya Dsouza
fig3 – Micro-Influencer-Kavya Dsouza

Micro-Influencers

Micro-Influencers are influencers with smaller followers between 10,000 and 100,000. Such influencers are not celebrities, politicians, or icons. They are real people online with a powerful voice carrying distinct advantages related to smaller audiences. Micro-influencers lend a high level of trust and day-to-day direct communication with their smaller audiences. The engagement rate increases as a result of the smaller followings. Partner with more micro-followers as they come with a smaller price tag and achieve the reach of macro influencers at a substantially low cost. Kavya Dsouza fig3 is a Micro-Influencer for the Niche- fashion & beauty blogger and stylist -‘Streakhuefall’

fig4 - Macro Influencer-Mary Kom
fig4 – Macro Influencer-Mary Kom

Macro-Influencers

Macro Influencers have a following of 100,000 to 1,000,000. They are the social media personas with an enthusiasm for a particular topic. They cannot be categorized in the celebrity class of influencers but have a large and loyal fan base. Moreover, its reach is high in its authority market segment. Businesses can partner with macro-influencers for their high-quality content. Connecting with them is easy as they continuously seek new opportunities. An example of a Macro Influencer is Mary Kom fig 4 an Athlete Boxer eg An Integrated Advertising Campaign of ‘Nestle- every day’.

fig5 - Mega Influencer-Neha Kakkar
fig5 – Mega Influencer-Neha Kakkar

Mega-Influencers

A few real-life celebrities enjoy the status of mega influencers. Followers are more than 1,000,000+ with everyone following their social media channels. Mega Influencers have a passive audience which means ‘a large following does not entail an equally large engagement’. As is evident they partner with brands with a high price tag. Due to a massive follower base brand awareness is possible with the masses. They set a trend worldwide and can introduce new brands, and products in their network thus transforming brands into motion. Contact Mega Influencers for paid endorsements through their representatives. An example of a Mega Influencer is Neha Kakkar fig5 a Bollywood female singer eg ‘Soul of the Musicians’ campaign by Audio Brand ‘boAt’.

Influencer Marketing: Finding the Right Influencers

A great place to start with would be Databases. Here you have to put much effort into evaluating each influencer and contacting them directly. Find appropriate hashtags and use them to search on digital networks such as Twitter and Instagram. To reduce the time spent on researching profiles of influencers connected with Marketplaces. An Influencer marketplace eg Pulp Key are online platform connecting businesses with influencers in identical industries or social media channels eg Instagram cosmetic & beauty influencers. Research on YouTube if you know subjects your audience would be searching for. Brands and Agencies have found Influencers by conducting searches on Google.

Make the right selection of an Ambassador who qualifies for your brand from their fan following. eg A dentist makes a credible brand ambassador for Sensodyne toothpaste. Influencer Marketing Agencies play an important role in assigning the right influencer to the right brand. Some Influencer Marketing Agencies examples are Socio Influencer and BlogWeet.

Influencer Marketing: Collaboration with Influencers

Reach a bigger audience, increase sales, and convey your message by collaborating with Influencers to get your brand noticed. Not only are film stars influencers but today bloggers, models, YouTubers, and Instagrammers collaborate with various brands. Use Influencer marketing as a tool for your social media marketing strategy. To succeed with a limited budget find ways to collaborate with Influencers.

Execute a successful marketing campaign involving:-

Join hands with Influencers

It is easy to contact Influencers for long-term collaboration for your campaign. Work with a nano influencer and create a real relationship with their followers. Reach users by establishing the trust that micro-influencers have with their followers. Many consumer-related businesses run marketing campaigns by collaborating with 100s of micro-influencer followers to broadcast their message and reach a large audience. Get more from a small group of micro-influencers than one macro-influencers. Micro-influencers come with a cost, but they are still affordable compared to macro or mega influencers.

Establish contacts with many Influencers

For SMBs contact more micro-influencers for your campaign. Average out the pricing and strike a package bargain that suits your budget.

Pricing & Remuneration Model

While on a budget for collaborating with micro-bloggers, you have an option to discuss the price and terms. When collaborating with an Influencer you can come to terms regarding payment based on PPC (Pay per post), CPC (cost per click), CPA (cost per acquisition), and/ or CPE (cost per engagement for comments, likes, shares, etc)

fig 6 - Influencer Marketing ROI
fig 6 – Influencer Marketing ROI

Influencer Marketing ROI

Measuring an Influencer Marketing Campaign will depend on what goals and KPIs you have set and what metrics are used to measure them. Influencer Marketing can have many goals but the most common ones for any business can be fine-tuned to Brand Awareness and CTA Direct Response. Here is where your KPIs such as Social Reach and Conversions come in. These KPIs serve a purpose in deciding the metrics you will use for measuring ROI fig 6 for your ‘Influencer Marketing Campaigns’. Evaluate the performance of each influencer. Take decisions on whether an influencer is delivering. If not discontinue and try with other influencers for optimum results. Use Influencer marketing software eg TapInfluence, Grin, etc to accurately track your campaign performance and the performance of your influencers.

Social Reach & Relevance Metrics

‘Reach’ and ‘Conversions’ go hand in hand. For the campaign period, track the Impressions of your blog posts using Google Analytics by comparing new v/s returning visitors and Social Media Analytics. To succeed with this goal track the people reached in your campaign. How many of the reached people became aware of your brand? Monitor the quantum of traffic the campaign drives to your site. Referral traffic gives you insights into your campaign’s reach. Track Subscribers and Audience Growth using social media channels site analytics and email lists. How many new followers resulted in new signups? Brand Engagements measures the relationship between a brand and its audience in terms of loyalty and actions taken eg- clicks, likes, comments, shares, mentions & hashtags, video views, etc. Use BuzzSumo, a free tool to measure engagement.

Direct Messaging allows you to send private messages to create long-term connections between followers. It also makes it possible to network with Influencers. Pitch a press release issued to the news media about your campaign that has audiences that match the ‘follower’ demographics.

Sales & Non-Sales Conversion Rates Metrics

By setting up promotion codes, links & landing pages, UTM parameters, for the campaign, track the traffic sources of users that converted during the period of the campaign. Monitor conversion rates based on after prospects complete the desired action eg buying a service or a product, Signup for a course, the clicks on links or URLs, and/ or downloading an ebook

Influencer Marketing Tools

There are many tools both free and paid available for the management of Influencer Marketing. Based on the goals you pursue whether it is for the marketplace, outreach, or social listening, continuously research and then add it to your influencer marketing tool kit. Note that different tools can work well with different niches such as fashion, health & fitness. travel etc. Leverage ChatGPT for your Influencer Marketing to research ideas and generate content in line with your messaging eg drafting influencer contracts, outreach emails, etc.

Read more by clicking on Niche Marketing Strategy & ChatGPT for Blogging

Self-search influencers and then run influencer campaigns yourself. Alternatively, take the help of an influencer marketing platform and use the tools for finding influencers in your niche and manage the different steps in the influence marketing journey. You can also choose to avail the services of an Influencer Marketing Agency and delegate the work to these specialists. These agencies specialize in working with brands and influencers in different niches and with various social media networks and can manage your campaigns from the beginning to the end. As a beginner, it is better to experiment with free tools and as you identify your needs and gain the required expertise look for those specialized tools to do the job. Some beginner tools are given under

  • Fedica & Modash > Influencer Search Tool
  • Talkwalker > Social Listening and Analytic Tool
  • Upfluence > Outreach and Influencer Research Tool with free Upfluence Chrome extension.
  • HypeAuditor > Influencer Marketplace Tool
  • NeoReach > Influencer Marketing Agency Tool
  • Klear & Influencity > Influencer Management Tool
  • discovery.ly > Free Chrome extension

Conclusion

Influencers are social media users who endorse brands on their network or create content for advertising their partner products. Influencer brand endorsement encourages their followers to use the brand and buy it. Influencers create promotional content, write captions for the content promotion on their page, and reply to messages and comments from their followers. They interact with businesses and contribute to influencer marketing campaigns on social networks.

Large followings make Influencers capable of leveraging the power of social media accounts in a particular niche. The high follower count of influencers makes it possible to impact the opinion of the public and consumers alike for political or social causes. Businesses can create real connections with influencer audiences and build confidence through product reviews, sponsored posts, social media takeovers, etc. Measure your influencer marketing campaigns with proper tools and reach new audiences to promote your brand. Needless to say, the correct choice of an influencer whose values line up with your brand will make a positive engagement with the buyer.