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Influencer marketing is a type of social media marketing that allows you to harness the power of influencers. Influencer marketing enables small businesses to reach audiences they might not otherwise find and share their message with people who are more likely to buy their product or service.
That includes influencer marketing, how to hire reputable influencers for your campaigns, and smarter ways to create successful campaigns.
What is influencer marketing?
Influencer marketing is a strategy that enables your business to leverage influencers' online networks for promotions by offering them items they want (or pay for) in exchange to get your message across to their followers .
Influencers are hired to create original content (images, videos, blog posts, etc.) that highlight a brand's products or services in a positive light.
Whether you're launching a new product or just wanting to promote your existing line of products, influencer marketing has proven to be a very effective way for businesses to increase brand awareness and increase sales.
Why is influencer marketing beneficial for businesses?
For every US dollar brands spend on influencers, brands earn $ 5.78 ROI, according to Influencer Marketing Hub. This is one of the reasons influencer marketing is seen as so beneficial to businesses.
According to Statista, "influencer marketing is on the rise, as evidenced by the recently released figures, which show that the value of this specific market more than doubled between 2019 and 2021, from 6.5 billion in the three years alone rose to $ 13.8 billion. "
Related: It's time to redefine the influencer
Insider tips for successful influencer marketing campaigns
As a lifestyle blogger and social media influencer, I've worked on campaigns with hundreds of top brands and retailers for the past decade. From working with chains like Safeway and Ulta Beauty to working with big brands like Olay, Reebok and Dove, I've run more influencer marketing campaigns than I can count. Whether I write sponsored blog posts, host an event at a retail store, create YouTube videos, or run Instagram promotions, the types of campaigns I've run have varied widely.
But if I've learned one thing from all of these experiences, it's that companies that seek long-term partnerships with high performing influencers tend to be the most successful. For example, I've been hired repeatedly by Walmart – from health and beauty to food and wine advertisements – they have worked with me on a variety of influencer marketing campaigns.
It also helps to hire influencers with a proven track record and great referrals. By doing research on influencers, you can find out who they've worked with before, rate their content so far, and even ask for case studies if they're available. The more information you gather, the easier it will be to determine if a particular influencer is worth investing in.
Also, don't expect a one-time contribution to produce great results. It would be smarter to work with an influencer on a series of campaigns if you are hoping for the greatest success. It's best to test an influencer's effectiveness before committing to repeating campaigns with them. Essentially, evaluate how well they do the first time by analyzing the result. This will help you decide whether it is worth hiring them back for future campaigns.
Here are 5 key tips to think about:
Did the influencer's original content match your branding guidelines? Was content published on the agreed date? What was the outcome of the interaction (likes, comments, shared views, views)? Is there any website traffic, app downloads, or sales (I recommend using a trackable link or affiliate program for that)? Has the audience received the content well?
It's similar to the rule of thumb in traditional advertising that says it takes a person at least three times to see an ad before considering a purchase. So you can apply this mindset to influencer marketing as well. It makes sense: the more often an influencer advertises a particular brand or product, the more trust is generated with his audience.
Related: Is Influencer Marketing Really Going To Die In The Next Years?
How to find and hire influencers
If your business is just getting started with influencer marketing, I recommend working with an established influencer network.
Similar to model agencies, influencer networks have a database of legitimate influencers and access to vital data about their niche, location, target demographic, engagement ratings, and more. They can help you run your entire influencer marketing campaign – from recruiting the most suitable influencers for the job, to overseeing content creation, communicating with the influencers, analyzing data from the campaign, to processing payments and 1099 forms.
Every network works a little differently. Some offer influencers a flat fee, while others pay on a cost-per-click (CPC) basis (which encourages the influencer to work harder to drive traffic). So, depending on your budget and goal, it's worth searching each of the networks to find the best solution for your business. The best part is that influencer networks really make the process easier. For this reason alone, it is worth considering using an influencer network to support you with your influencer marketing campaigns.
If you are considering using influencers in your online marketing strategy, find out what your goals are, set your budget and time frame, and then think about who you want to reach. This will help you find the best plan of action for the type of influencers you want to work with.
Similarly, this restaurant owner went viral for responding to an influencer who wanted to eat for free