Influencer marketing is a growing industry that has more than doubled from 2019 to 2021 according to Influencer Marketing Hub and is currently on track to be a $15 billion industry by 2022. Influencer marketing is most commonly thought of as paying a celebrity a fixed cost to post about your brand, but there are many ways to make influencer marketing work for you and your organization.
So, how do you get started with influencer marketing?
Influencer Paid Campaigns
This is the type of influencer marketing we are probably most familiar with, as we often see influencer partnerships as we scroll through Instagram and other social channels. Influencer paid campaigns are when brands partner and pay influencers to endorse and mention their products to access their dedicated social following. Especially if they have a certain niche, they can be viewed as experts on the topic, which is a great opportunity for brands to directly target their focused audiences.
Influencers have the ability to change and #influence the behavior of others. I know I’ve been #influenced to try a new skin care product or buy a new clothing item because an influencer I love had great things to say about it. Influencer paid campaigns are a great option to appeal to your ideal customer profile, but it’s very important to seek out authentic, credible influencers who have gained their followers’ trust. Bonus points if the influencer is already a fan of your business service(s) or product! Influencers have to disclose it’s a paid partnership – that’s why credibility and transparency is so important – because the general public is already bombarded with sponsored content on a daily basis. But, if followers trust the influencer and their opinion and believe they won’t do anything for just a check, then there is greater potential to build consumer trust and credibility!
You don’t need a large budget to start an influencer campaign. Micro-influencers don’t have the high costs of big celebs and are often more trusted by their following due to their relatability. The bigger the following and engagement, the more expensive the partnership. Start by doing some research, set a budget, determine your goals, find the influencers that best fit your brand and conduct some outreach. Be hands-on in order to monitor the campaign and the results. From increasing brand awareness and business growth to reaching the ideal audience and right customers, there are substantial benefits to this strategy!
Affiliate marketing is the process of an affiliate (influencer) earning a commission for marketing or selling a brand’s product. You have probably seen influencers sharing product links with “#affiliate”. They are receiving a kick-back from any potential sales that come from that link. Eighty-one percent of brands are leveraging affiliate marketing. This is a great way to attract potential customers and drive sales!
A beneficial component to affiliate programs is that companies can manage them through a program on their own website! Otherwise, there are plenty of affiliate networks, that can function as the middle party. Typically, affiliate programs can function between the influencer and the company, or a network which is the software that tracks traffic, sales and globally manages the program. It can be time consuming to set up your own system – that’s where an agency can manage the program and go through the process of hand-picking partners for your approval.
The cost incurred with this program will depend on if its managed independently or through a network, but once that is figured out, it comes down to commission rates or a flat rate per sale. This is a low-risk program due to paying the influencer once the sale occurs, rather than up-front costs associated with other forms of marketing. Also, you don’t need to have a large budget to get involved with this strategy. Most e-commerce sites easily integrate with affiliate programs, so you can generate more online revenue before you know it!
Content Creator Marketing
Are you trying to drive more user-generated content to fill your feeds? Content creator marketing is a great solution to those in need of content. It’s about the creation and circulation of content by creators on behalf of a company. If you’ve ever managed social media accounts for a business you know the importance of quality, carefully-targeted content to maintain new visitors and customers. This can be very time consuming and costly to create your own assets and manage tracking software to see how those assets perform. By outsourcing these efforts, it reduces the time and internal cost, while receiving premium content that can increase the chance of more leads and heighten brand awareness more than other traditional marketing methods.
Influencers and professional content creators are available to help generate images, videos and other forms of content you need to fill your feeds. There are companies out there that can help you gather necessary content, but this is also something that brands can complete on their own. The key is communicating the vision, strategy, budget and deliverables when partnering with a content creator and influencer. This strategy is worth implementing this year because it will support all of your other marketing tactics, maintain your customer base and drive traffic to your website, all while earning new customers!
How do you know which strategy is right for your organization?
At Tunheim, we implement influencer and content creator strategies when shaping our clients’ digital approaches. Tunheim is here to help identify and implement the best strategy to fit your company’s goals.
Is your business interested in influencer marketing? We’re here to help! Visit https://tunheim.com/help/ to get connected with our team.