The influencer marketing sector is expected to grow from its current $8 billion in 2019 to a potential $15 billion by 2023, as reported by Business Insider Intelligence.
Moreover, the future marketing environment will likely be characterized as “the era of influencers,” thanks to the increasing number of users who are signing up for various social media platforms, with some of these users eventually becoming content providers.
Reports show that by the end of 2020, 65% of influencer marketing expenses will have grown. The market for influencer marketing is growing, and with it comes stricter measures of validity.
What can a social media influencer accomplish for your company?
When done properly, influencer marketing mimics the brain’s most basic functions. The function of the influencer is similar to that of a matchmaker. To put it simply, they serve as a bridge between the brand and the people who are most likely to be interested in it. Influencers, in contrast to celebrities, work in the field of marketing.
Creating promotional material, sometimes known as “sponsored content,” is a regular element of their job responsibilities. This is why the younger generation now looks to social media as the new seal of approval before making a purchase.
Because of their existing sizable online following, many of an influencer’s followers may be interested in what you have to offer. Then you should reach out to an influencer to help spread the word about your product.
Here are few suggestions to help you identify the most suitable social media influencer for your product.
1. Find the right person to influence.
It is important to carefully assess the influencer you are considering hiring. If you hire a key player for your marketing team and then discover that their methods don’t align with your own, you’ll be in a sticky spot.
The best approach to go about this is to create a list of criteria that must be met before hiring the influencer in question. Like,
Influencers’ scalability is measured by the sheer amount of their subscribers or followers.
Interaction is more important than a large number of passive followers. Amount of people that interact with the influencer’s material via likes, comments, and shares.
Integrity; the influencer must not make their promotion appear forced or sponsored.
2. Make use of online social networking resources for assistance
A social media influencer will be joining your team. If you need help, why not use social media? If you have a strong social media presence, you’ll have a leg up on the competition when it comes to discovering which bloggers, influencers, and musicians have talked about your product before you’ve ever recruited them. You may make your marketing appear more genuine and organic by monitoring mentions and tags on real-world articles, even if you pay their services afterwards.
Now that social media analytics tools have improved so much, it’s simple to see which influencers’ postings are generating the most interest. Using those numbers, you may approach the influencer who best meets your criteria.
3. How to Set Up and Use Google Alerts?
Using Google Alerts is another simple option for locating a potential brand influencer. As a marketer, you may monitor mentions of your brand by creating alerts for certain search terms that relate to your company’s name, products, or services.
It’s safe to say that the growth of the hashtag culture has had the greatest impact on the effectiveness of Google Alerts. You may identify people that write, post, or generate material connected to your product line or industry of services by searching the appropriate hashtag for your field of business.
You may also observe the marketing strategies of competing companies. It will help you think of new ways to promote your items using social media influencers and other channels.
Many companies fail to see that advertising is now more simpler than it was even a decade ago. Nowadays, it’s simple to locate a reviewer who is a true fan of your product and deserving of honest praise.
4. Be aware of who you’re talking to
Understand who you’re talking to before making any moves. Knowing your target audience is essential for any marketing strategy, influencer marketing included.
A successful marketing campaign, including collaborating with an influencer, depends on reaching out to people who have already shown an interest in your product or service. If you want to work with an effective influencer, you should see if the people who follow them are similar to your target audience.
Consider that, as a business, you specialize in selling premium jackets. If you employ a TikTok star who frequently features jackets in his videos, and then have that star wear your coats in a video aimed at teenagers, you should see a significant uptick in sales.
But if you employ a YouTuber for his large subscriber base, only to discover that his viewers are all above the age of 18, and he has never worn a jacket in his videos before, but now insists on doing so, red flags should be going up everywhere. A large portion of his audience will see through his sellout act and accuse him of being unfairly critical of your company, making your approach a failure.
5. Take use of online journaling tools
In 2018, there is still a significant impact from several organic blogging sites on directing search engine results page (SERP) traffic to your website. Your company’s marketing efforts should not be limited to cutting-edge strategies. Genuine blog posts that include endorsements are most valuable when accompanied with a visually appealing Instagram post that directs readers to the source.
Blog articles created with the relevant keywords linked with your product’s domain continue to outperform videos in terms of reader preference since they provide a more in-depth explanation and honest opinions.
6. Make a compelling case in your proposal
Social media marketing may provide a steady income for an influencer. Consequently, it is not only immoral but also the wrong way to go for marketers to feel they can hire an influencer’s services for free or excuse it by believing that you are offering them exposure.
In order to entice an influencer team to work with you, you need develop a compelling offering in which exposure figures prominently. Such as a generous compensation package, a legally binding contract outlining the conditions of any payments or subscriptions, etc.
7. Appreciate comments
As a marketer, the worst thing you can do is to stop listening to your audience and consumers. There is no reason to discount it as a potential information resource.
For instance, you could find up working with an influencer who isn’t universally well-liked and who has been receiving criticism for long time because of anything offensive they said or did. Your company’s reputation will suffer as a result of this.
Any time someone with such a low level of credibility discusses or endorses your brand, it will not only backfire but also cause others to actively dislike your product.