Top 5 Things You Need To Know About Influencer Marketing
As a marketer, it’s important to stay updated with the changes in the market, to be able to quickly adapt new trends and stay on top of it.
In this article, I’ll be listing Top 5 Things You Don’t Know About Influencer Marketing so you can be sure not to miss important things about influencer marketing.
1. Micro-influencers are the new influencers
When influencer marketing first started to gain traction, brands were focusing on using celebrities and people with huge followings on social media to market their products.
But now, a transition is slowly being made where brands are transitioning from celebrities to micro-influencers.
There are many reasons to this transition but the main reason that is most commonly heard is the fact that micro influencers are cheaper and can generate a more targeted influencer marketing campaign.
Because the micro-influencers usually have an audience that is genuinely interested in what the influencer has to say, the micro-influencers can provide an incredible ROI that large influencers and other marketing sources can compete with.
This means that although you are spending less because they are cheaper than celebrities, you can (with the same amount of money) use several micro-influencers to reach an audience of the same size but with a considerably higher ROI.
2. Brands are increasing their influencer marketing budgets
59 percent of marketers will increase influencer marketing budgets in 2016.
In 2016, most marketers spent between $25,000 – $50,000 per influencer marketing program, which survey respondents report will double to $50,000 – $100,000 per program in 2017.
This means that the competition among brands for the good influencers is getting bigger.
This is where you as a brand can gain leverage over your competitors by using the VeloceNetwork.
VeloceNetwork can help you find the best influencers within your niche so you can be sure to get the best ROI possible.
If you don’t have the possibility of increasing your influencer marketing budget, you can gain leverage over your competitors by targeting your niche´s best influencers.
If you can do both- you can be sure to gain huge traction and results from your influence marketing campaign.
3. Brands must trust the influencers
This is a big issue that many marketers don’t know how to deal with.
When starting an influencer marketing campaign, the influencers usually creates the content and writes the captions to the posts that they’re going to make.
The big issue is that brands are trying to be in charge of everything, from caption to content.
The golden rule that all marketers should live by is the following:
Let your influencer do what they do best but always review the content.
The influencers are the people who know their audience the best. They know what ticks their followers’ boxes, they know what their followers like to see and what ultimately will give your brand the best results. It is not the brand that knows these kinds of things and unfortunately, too many marketers believe they do.
I repeat, Let your influencer do what they do best but always review the content.
4. Influencers can charge brands up to $550,00 per post on social media
According to D’Marie Analytics, Selena Gomez is currently worth $550,000 per post on social media.
Selena Gomez, who is the second most followed person on Instagram with 116 Million followers is reported to charge brands $550,00 to make a marketing post.
5. Not all influencers are charging cash
Social media influencers are not only people who are charging $500,00 per post on social media.
There are also influencers that can make marketing posts for your brand on their social media in return for other things than money.
The influencers that normally satisfy with other things than cold hard cash is micro-influencers because they don’t have a following as large as the big influencers out there.
Micro-influencers that are already in love with your brand are influencers who are most likely to satisfy with things other than just cash from you for a post. It can be gift cards, coupons or products.
If you have a restricted marketing budget, finding influencers who can market your brand in return of only your products can be an excellent way for you to still get your brand out there and reach a new audience.