You are here because you understand the incredible power that influencer marketing has. How it can utterly project your brand to the limelight, without you sweating for it.
We have now entered an era where an individual like Dwayne Douglas Johnson, The Rock, can influence millions of people with a mere click.
It’s this power that the brand, Zara, used to reach over 2 billion people on Instagram, with 300,000 mentions, beating even the giant company herself.
We are in the era of influence, and as a digital marketer, the ultimate question becomes: how can I wield this holy grail?
Let’s begin!
What Works In Influencer Marketing?
Influencer marketing is really a fancy term for an ancient concept. It has always been an existing phenomenon as soon as we began living in communities. But with the power of social media, influence has taken an unimaginable turn.
Today, all you need to make millions in sales is to collaborate with an influencer in your industry, with an engaged audience.
You know the good part? It cost less, compared to running traditional ads on print media. A report by Dectech examined the role that influencers play in a wider marketing strategy, and the study found that influencer marketing had more reach and cost-effectiveness compared to a print advert.
To get the most from this marketing strategy, you need to be organized, put together a strategy, plan and budget, and spend time on research.
Decide on your approach to find influencers. Do you want to go directly or through an agency? And as your journey on this path, be human - it’s people talking to people, not companies talking to companies.
Budgeting For Influencer Marketing
As a marketer, you understand the importance of having your facts right, especially when talking to your CFO.
They want to know how much this marketing strategy will cost, and the expected returns. While the ROI is not in doubt, you need a compelling presentation to kick off.
Depending on your industry and the influencer, you could spend zero to over a million dollars for a post.
Nano-influencers can charge between $25 - $200, while micro-influencers can charge $100 - 1000 for the same campaign. Mid-influencer, on the other hand, can charge between $1000 - $3000, and they are often the best when it comes to influencer marketing due to their engaged and loyal followers.
Instagram Or TikTok? A Good Entry Point!
Instagram has been the leading platform for influencers. But over the past few months, we have seen TikTok dominate our cyberspace. Your target market will determine which you go for at first. But in the long haul, you will find yourself doing both.
Take note that you don't necessarily need to work with celebrities to get the word out. In fact, we have seen mid-influencer trigger millions of sales with a click.
There are lots of agencies you can work with to find the ideal influencer for your brand, such as Society Icon and Adrecord.
Whether you’re delving into Instagram or TikTok, mid-influencers are the real deal as long as influencer marketing is concerned.
That’s because they are experts in their respective niches, and liked by their followers.
Building A Successful Influencer Marketing
You don’t need a truckload of money to build a successful influencer marketing campaign. All you need is to grow and maintain an amicable relationship with your influencers, and the sky wouldn’t be your limit
Instead of one-offs collaborations, a long-term contract with your influencer is ideal, and will save you a lot in the long run.
But no matter what you do, never forget that it’s people vs people. So express the humanity in your brand, and you will certainly get a positive response. As long as you’re working with a relevant influencer with an engaged audience, you will see traction.
It’s not always going to be perfect. So be open to run numerous A/B tests, and continue doing what works, while letting go of what doesn’t.
In influencer marketing, influencers are the key to your success, and to maintain a positive relationship, it is important that you pay instantly after a collaboration. When your influencer gets paid in seconds instead of days, they immediately bond with your brand.
That is why companies like TaskRabbit, Memmo, Woshapp, and numerous others use Gigapay to instantly pay their influencers, with taxes and social benefits declared. Go ahead and book a demo. We’d be delighted to show you how our payment system works.
