Influencer marketing is a form of social media marketing that involves endorsements and product placement by influencers. These are people and organizations who have an expert level of knowledge or social influence in their field, and may be considered to represent a brand.
Today influencer marketing is at the forefront and companies are funneling more resources to this strategy than ever before. Investing in effective influencer marketing as part of a cohesive overall plan will help get your brand on a larger map.
An influencer is engaged with a contract, to promote a brand’s products or services through various media outlets such as Instagram and YouTube. Influencers are considered trusted figures within a niche community with a loyal following – they are not celebrity endorsers. In addition, they typically possess knowledge or experience about what they are advertising. For example a fitness blogger might be asked to do advertising for sportswear or a supplement.
Influencers operate independently, create their own content and integrate a company’s advertising specifications into it. The influencer is in control of the brand’s message, choosing how they would like to portray it. This promotes authenticity and can help reach a specific target audience.
Consumers are increasingly skeptical of brands and their advertising. With so many online marketing options, it is difficult for businesses to find a target audience, and consumers trust their influencer’s choice of products. It’s important for brands to be confident the influencer aligns with their overall image and represents it well.
According to Forbes.com, the financial value of an influencer is typically calculated by the size of their social following and the platform they are using. On Instagram, industry experts suggest a price point of $1,000 per 100,000 followers. This price can be adjusted further depending on the reach and relevance of your influencer. On YouTube, a price point of $100 per 1,000 views is standard. The beauty of influencer marketing is that anyone can become an influencer, and businesses have many to choose from, allowing them to reach large target audiences.
As a brand, to protect yourself and be successful using influencer marketing, learn about fake followers and how to identify them. Purchased followers can create a false picture of the audience numbers. True followers should be obtained organically.
There are many platforms designed to assist brands vet potential influencers using discovery tools. These tools typically provide relationship and campaign management, influencer marketplaces, third party analytics, and influencer content amplification. For a list of influencer marketing platforms and related resources, visit influencermarketinghub.com