How to Leverage Influencer Marketing for Your Brand

Influencer marketing is a very powerful and scalable advertising tool. It uses the reach, likeness and engagement of influencers on social media to promote products or services subtly. Instead of targeting a broad audience, businesses partner with influencers who have a strong connection with a niche audience and build trust and credibility.

With the reach and engagement of Social media so high, influencer marketing is a must have in the arsenal of modern advertisers. The rise of influencer marketing is tied to the rise of social media and audience shifting away from traditional advertising. Consumers value authenticity, relatability and personal connection which is often missing in traditional ad campaigns.

And there will be more influencers (nano, micro, power, celebrity) for brands to work with as social media makes fame more democratic. We are already seeing this new generation of social media influencers appearing in niche categories or social groups that are hard to reach through traditional advertising. That is why influencer marketing for Gen Z works.

Understanding Influencer Marketing

Influencer marketing is the practice of marketing products and services through people who can influence their followers to buy, usually on social media. These people are called influencers or creators and often have a large social media following so can have social media influence. There are many different types of influencers from mega influencers like celebrities to micro-influencers who have a smaller, more niche following and higher engagement rates.

Influencer marketing works because of the trust influencers have built with their following over time. Recommendations from these influencers are social proof to your brand’s potential customers.

But working with digital creators and influencers requires a plan and strategy. And FOR® has put together this ultimate guide that will help you with that. Read on for tips on how to build an influencer marketing strategy.

Types of influencers: By size and reach

Partnering with an influencer with millions of followers might sound like a dream come true but they may not be the best fit for your brand.

Some social media influencers have large, broad audiences spanning across several demographics. Others boast smaller but more targeted and engaged communities.

Knowing what each type of influencer can offer you in terms of reach, range, cost and engagement is key to choosing the right ones for your brand.

Celebrity Influencers

They have over 1 million followers and are often famous actors, musicians, athletes and other public figures. Their celebrity status allows them to reach a broad audience making them perfect for big brand awareness campaigns. Think: Cristiano Ronaldo.

Celebrity influencers are the go to for big multinational brands who have deep pockets and existing relationships with the celebrity. It’s expensive to work with them but will put your brand in front of millions of people. Good for top of mind awareness.

Macro-influencers

100,00 to 1 million followers is macro. Macro-influencers are established in their space. More targeted than celebrities as their followers have similar interests. Working with macro-influencers will get you a lot of reach but will still cost you depending on your budget.

Studies show that followers of macro-influencers trust their recommendations more than celebrity influencers. Since they are perceived as more authentic, macro-influencers have more influence over their followers and get higher engagement per post. That is why a stronger connection can be formed between a brand and a consumer when a micro-influencer is involved.

Nano-influencers

Even though they have few followers, hiring nano-influencers for your campaign can be a faster way to get your brand name out to niche communities. They are more active in promoting products and sharing with their friends. Getting nano-influencers to be nano-advocates of your brand is also cost effective! Nano-influencers don’t charge fees. Instead brands reward them with free products to start sharing with their own social circle and extend your brand’s reach and goodwill.

This is because nano-influencers work on a smaller scale, they have more time and attention to individual partnerships. More custom content for your brand and relationships within niche communities.

Why use influencer marketing?

It is harder than ever to reach your customers with so many ads and posts online. There is a lot of clutter in your target audience’s social media feeds and email inboxes and your brand message is competing with that.

While traditional advertising still has its place, it’s been proven to be less effective than word of mouth or personal recommendations which is how an influencer’s endorsement should look when done right.

Consumers are looking for reviews, testimonials or endorsements from people when they are in the buying process and it doesn’t matter if that recommendation comes from a stranger or an influencer.

Brand awareness

Working with an influencer brings more eyeballs to your brand. By featuring your brand in their content, influencers introduce you to new audiences who may not have known about you before. And the trust influencers have with their followers increases your brand’s reputation and credibility and boosts brand awareness.

Targeted audience

Influencer marketing helps brands target their audience precisely by connecting brands with influencers who have followers that match the brand’s target market. So their message reaches the right people and is delivered from a perspective that resonates with them, making the campaign more effective.

More conversions

Social proof is a big factor in making a purchase after seeing an influencer campaign because it tips the scales in your favour. Influencers also share interactive content like giveaways, challenges and live sessions that drive engagement and get people to take action like buying or signing up for deals. They share exclusive discount codes or special offers so you can track conversions directly to their promo.

Trust and authenticity with your audience

Influencers build trust with their followers by sharing personal experiences and opinions that resonate with their audience so they can relate to them. They increase their credibility by being transparent about brand partnerships and only promoting products they actually use.

Plus their unscripted content is a contrast to traditional ads so it sounds authentic and spontaneous which creates a personal connection with their followers. And how they respond to comments makes their audience feel heard and valued so the bond is strengthened. All of this helps influencers drive higher conversion rates for brands.

Conclusion

We have shown you the power of influencer marketing. If you haven’t started using influencer marketing yet, get on it now start your marketing agency. If you already use influencer marketing, continuous evaluation and improvement is key. Partner with influencers whose values match your brand values, create campaigns and evolve by watching the market and a framework of key metrics that matter to your brand.

Working with influencers has its own challenges but setting up a campaign is the same as most marketing campaigns: research, budget, goals, find your influencers, review and revise. Once you get into the groove creating different influencer marketing campaigns for your brand will be a breeze.