Influencer Marketing: Everything You Need to Know
By Zintle Nkohla
Influencer marketing refers to the collaboration between social media users and businesses to promote or endorse products and services. This strategy has proven to be highly effective in today’s business world, considering the majority of customers that are active on social media.
Influencer marketing thrives on social media platforms like Instagram, Twitter, LinkedIn, YouTube, and TikTok. These are the most widely used platforms for influencer marketing.
Marketing through associations with influential individuals has been around for a long time. It’s interesting to note that even Santa Claus, a fictional character, was once used as an influencer. In 1931, Coca-Cola began using Santa Claus in their advertisements for their popular drink. While the company didn’t create the character, its ads helped shape the jolly and kind Santa Claus we know today.
Throughout history, there have been many instances of influencer marketing. However, this blog post will provide you with a comprehensive understanding of modern-day influencer marketing and everything you need to know about it.
Benefits of influencer marketing
Increased brand awareness
Have you ever thought about how familiar people are with your brand? It’s called brand awareness, and it can affect whether or not someone decides to buy from you. Basically, when someone sees your brand, they might wonder, “Hmm, what’s this all about?”
Utilising influencer marketing is an effective way to increase brand recognition. By selecting the appropriate influencer, you can successfully promote your brand and inform the public about its existence.
Increased brand reputation
By implementing influencer marketing in your business, you can influence the perception of your brand among customers. This can strengthen your brand reputation and increase customer loyalty. The stronger your brand reputation, the greater the chances of customers recommending your products to others.
Higher engagement rates and conversions
The success of social media depends on clicks and engagement. A skilled influencer has the necessary tools to achieve favourable outcomes. By working with an experienced influencer, you can expand your social media following and effectively connect with your intended audience.
Cost-effective advertising
Selecting the appropriate influencer for your marketing campaign is essential to achieving the most favourable outcome. The number of followers, engagement data, and social media platforms are all significant factors that can significantly impact the cost. It is crucial to thoughtfully evaluate these elements rather than settling for the least expensive option. As per Influencer Marketing Hub, some influencers charge as much as $10,000 (R189 347) for a single post on TikTok. Regardless of your approach, if you have carefully considered your choices in influencer marketing, you will undoubtedly see significant cost savings.
Increased credibility and trust
Partnering with trustworthy influencers can enhance your business’s credibility and earn the trust of their followers. Nowadays, social media users tend to be more attracted to brands that are endorsed by their favourite influencers. For instance, the body lotion of Dawn brand sold out rapidly after a campaign with Kay Yarms. Similarly, the famous American YouTuber Logan Paul has generated a lot of buzz around the Prime drink, resulting in high sales.
Types of Influencers
When it comes to social media, influencers are often classified according to their varying degrees of impact and influence across different platforms. These classifications are primarily based on their reach and engagement levels, which can be determined by analysing factors such as follower count, likes, comments, and shares. By understanding these categories, businesses and brands can more effectively partner with influencers who have the right audience and influence to help them achieve their marketing goals.
Here are the types of influencers:
- Nano influencers (1K-10K followers)
- Micro-influencers (10K-100K followers)
- Macro-influencers (100k-1M followers)
- Celebrity influencers (1M+ followers)
Creating an influencer marketing campaign
Setting goals and objectives
When creating an influencer campaign, the first and most crucial step is to set clear goals and objectives. It’s important to determine what you want to achieve by the end of the campaign, and this entails considering specific numbers, such as the desired number of followers and level of engagement.
Determining your budget
When planning a promotional campaign, it’s essential to consider the budget in relation to the goals and costs. The expenses incurred should be justifiable and contribute to achieving the desired outcomes. With a well-planned budget, the campaign can be more effective and lead to a successful outcome.
Developing a content strategy
To create a solid content strategy, you need to assess your current social media content, decide on the types of content you want to create, examine your competitors, study your audience, and create a content plan or schedule.
Crafting a compelling offer
When creating an offer for an influencer to promote your campaign, it’s crucial to establish payment arrangements that work for both parties. Typically, influencers have a set rate, but this can vary based on factors such as their follower count and preferred social media platforms. Therefore, it’s important to carefully choose which influencers will be the best fit for your campaign.
Creating guidelines and contracts
It is crucial to reach an agreement on the terms. This will not only ensure that all goals are met, but it will also establish clear rules to prevent anything that could misrepresent your brand. Ultimately, you are the one who knows your brand best.
Measuring the success of your campaign
Measuring engagement rates and impressions
To determine the effectiveness of your campaign, you can compare the engagements and impressions before and after the campaign. Have there been any changes or improvements in these metrics?
Tracking conversions and sales
Are you able to keep track of your conversions and sales? It’s important to determine if the campaign produced the desired outcome.
Calculating return on investment (ROI)
Another important factor to consider is whether the campaign generated more revenue than the expenses incurred.
Monitoring brand reputation
Have you received any feedback from customers regarding their perception of your brand after the campaign? Has the campaign positively impacted your company’s reputation?
Final Thoughts
The future of influencer marketing looks promising as more and more people aim to earn money through social media, and the competition in this field is growing. With the continued growth and popularity of social media, influencer marketing is likely to remain a significant part of the industry.
For information on the services Joren Digital offers, you can visit: https://joren.digital/about/ or contact info@jorencommunications.co.za
