INFLUENCER MARKETING, IS IT WORTH THE HYPE?

Influencer marketing was limited to celebrities and a few dedicated bloggers a decade ago. But now, Influencer marketing is a mainstream form of online marketing. It has been a buzzword, and the mainstream media regularly refers to it. Influencer marketing is hands down one of the best marketing strategies you can use today. It’s a powerful marketing approach that allows you to reach your target audience in a uniquely authentic way. Influencer marketing is about the relationships you build rather than the number of transactions you can make. Consumers are looking for a trusted voice in their online community, and marketers who work with influencers have the advantage of building relationships with the influencer's audience and their brand. So, what is Influencer Marketing? 

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What is Influencer Marketing? 

Influencer Marketing is a form of marketing that focuses on influential people rather than the target market. It identifies the individuals influencing potential buyers and orients marketing activities around these influencers. At a fundamental level, influencer marketing is a type of social media marketing that uses endorsements and product mentions from influencers–individuals with a dedicated social following who are viewed as experts within their niche. Influencer marketing works because of the high trust social influencers have built with their following. Their recommendations serve as social proof to your brand’s potential customers. Influencers, unlike celebrities, can be anywhere. They can be anyone. What makes them influential is their large followings on the web and social media. An influencer can be a famous fashion photographer on Instagram, a well-read cybersecurity blogger who tweets, or a respected marketing executive on LinkedIn. Within any industry, there are influential people—you have to find them. Some will have hundreds of thousands (if not millions) of followers. But many will seem more like ordinary people. They may only have 10,000 followers, less in some cases. Yet, they will have developed a reputation for being experts in their field. They are the go-to people who provide the answers to people's questions. Depending on their sphere of expertise, they are the people who make the most engaging social posts. They share the best pictures, make the most entertaining videos, and run the most informative online discussions. 

Things to watch out for

• Be organized, put together a strategy, plan, and budget, and spend time on research
• Decide on your approach to finding influencers – find them organically, subscribe to a platform, or work through an agency.
• Influencer marketing isn't just about finding someone with an audience and offering them money or exposure so they can say good things about you. That's what viral celebrities are for. Influencers have spent time building their brand and cultivating their audience; they will naturally protect their reputation and those who trust them.
• Influencer marketing is also about more than quick results. It's the same slow-and-steady approach as Social Media and Content Marketing, where your campaign is about something other than directly selling your wares. Instead, it's about demonstrating your authority, credibility, and thought leadership within your industry.

How to create an Influencer Marketing Strategy 

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• Research is the first step. Choose the platform you want to focus on first. You can always expand to other platforms later, but if you’re just starting, stick with one. Ideally, your brand should already have a presence on this network or want to expand.
• The industry you’re in also matters when planning to implement an influencer marketing strategy. Beauty and fashion brands shine on Instagram and YouTube. The video game industry dominates Twitch. 
• During your research phase, look into the type of influencers you’re interested in. Are you going for celebrities with massive followings or micro-influencers with less than 2000 followers. Perhaps something in between in the 5–10k follower range is more your preference. Whatever you decide to focus on will determine your budget.
• Now that you know what to pay influencers, you must create your budget. Be sure to also factor in time for planning, executing and reviewing your influencer program. 
• For brands that need a wider pool of influencers, hiring an influencer marketing agency to do the research and coordination for you is a good bet.

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Pros and Cons 

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Pros:

• You can reach a relevant audience
• Influencers build trust and credibility
• They can reach many more people than you can alone
• Comparatively cheap

Cons:

• Can be hard to find the best influencers
• Influencers can harm your brands if you’re not careful selecting them
• Can be tricky to measure results

Influencer marketing involves brands collaborating with online influencers to market products or services. Some influencer marketing collaborations are less tangible than that – brands simply work with influencers to improve brand recognition. The important thing here is that the online collaborators are genuinely influential. They must influence the type of people with whom a brand wishes to establish a touchpoint. Not the massive number of followers qualifies an individual as a social media influencer. Still, the ability to get a response or action from an audience is what makes someone genuinely influential. That is the most important quality marketers, and brands seek in a social influencer when trying to expand their reach and grow their business online. Get started today! 

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