It’s no secret that marketing via influencers is a perfect way to reach the audience you want. The information chain is shorter than ever and you have more control over who is talking about your product or service.
According to a study by Linqia, marketers will increase their budget for just influencer marketing by 39% in 2019.
If one’s customer segment is millenials, then influencer marketing is among the most profitable way to reach its audience, because social media is their choice of channel. Whether it’s an Instagram post or a YouTube video, integrating this into your marketing can make all the difference in your brand’s perception, and even success.
Influencers get their followers because they’ve found their niche, whether it’s on Youtube to post videos for games, makeup or vlogging their daily lives, or other social channels where they focus on beauty, fitness or politics.
This is a golden opportunity for marketers to specify their niche and be able to reach a specific target audience.
It has previously been more difficult and expensive to judge whether reaching the right person through the right channel, but is now simpler than ever.
Something that is extremely important to point out is the breadth of influencers, they represent people from all backgrounds, cultures and minorities which increases the importance of influencer marketing and shows even more of what global society we live in.
Most influencers base their price on collaboration by looking at the type of channel, followers, commitment and demand. There is no direct framework on what a post on, for example, Instagram might cost.
If influencers’ primary channel is just Instagram, then it might be worth looking into if they have other channels with fewer followers. It may sound a little contradictory to invest in a channel with fewer followers, but if the commitment is greater, this choice may ultimately generate a better ROI. It should also be mentioned that you should look at which social channels your selected segment uses.
Not without problems
Of course, influencer marketing is not entirely without its problems. You put a lot of focus on associating your product with a person you do not have full control over, and should this person end up in windy weather, this can be reflected in the company – especially if it is a long-term relationship.
It is important to keep an eye on this and ensure that laws and regulations are followed by the influencer so that it does not generate a negative link to your brand.
The second problem is rather about social media itself. With followers that can be fake, you can’t completely rely on statistics / demographics, engagement from followers and whether the product gets the reach you want.
The algorithms on, for example, Instagram are constantly changing and thus you have to keep up to date with how this affects large or small accounts, depending entirely on the infuencers or employees you want to work with. If a product is relevant to what the person’s niche and image is, then this is where you will find confidence in the product, the influencer and your brand.
The actual market for influencers has seen a shift lately, from having gone from ‘ordinary’ people to posting videos from their bedrooms, it is not uncommon today for already established ‘celebrities’ from the sports world, artists, actors or other media personalities also now falls under the category of influencers.
Trends in influencer marketing
Many trend analyzes indicate that the emphasis will be on long-term relationships and contracts with influencers instead of short-term goals. This may be partly about the desire to achieve long-term goals, increase confidence and, in the long term, also strengthen their brand even more. The trends also show that it has proven to be much more profitable to market via social media than traditional media such as television and newspapers.
How do you get started then?
A very simplified way to find the right people to contact is to search through Instagram, which has the largest number of influencers, or Youtube and look for who could be a good choice for you.
Contact them via DM or email and get started and negotiate the terms of your cooperation.
It has begun to develop networks, tools and platforms tailored for influencer marketing that make the process even easier.
It may feel like a jungle and it is difficult to know which end to start with, but it is important to remember that this is the new medium, where you actually have more control than ever that you are targeting your target groups .