‘Influencer Marketing’ is a new term for an old practice – the idea of using a celebrity to promote a product, service, or brand. A collaboration.
The word ‘influencer’ is used because instead of the traditional description of a ‘celebrity’, an ‘influencer’ refers to someone who is a popular individual or page on social media.
There are influencers for every hobby, way of life, household chore, and even household equipment such as vacuum cleaners. These influencers have built up a following in their chosen area, are seen as experts in their field, and are trusted by their followers in the same way that you might trust your best friend.
This makes them extremely well-placed to influence spending habits.
Stats show….
- the use of influencer marketing is on the rise with a value of $21.1 billion in 2023. This is an increase of 29% in 2022.
- Businesses are getting on average a $5.2 return on investment for every $1 spent on an influencer
- 67% of brands use Instagram for influencer marketing
(Source: Influencer Marketing Hub)
What to be aware of when using Influencer Marketing
No. 1: Remember that the individuals who follow an influencer on social media do not care about your brand.
The influencer’s followers only care about the way your brand is perceived by the influencer, so keep that in mind when selecting your influencer as you could be leaving yourself open to abuse and negative feedback.
No. 2: Remember that the influencer would have spent a great deal of time, and often their own money, to create and curate their audience. This gives them the power to say no and walk away, so don’t push too many rules or business policies on them.
No. 3: Influencer marketing is not about offering an influencer money for exposure and positive remarks. Influencer marketing requires a relationship to be built between you and the influencer on a human level, it can be a slow and steady burn.
No. 4: If you are planning on doing some influencer marketing then please do your research.
It is not just about finding the most popular person on social media. it requires looking at the influencer who works closely with your target audience, the individual who shares the same values as your brand, and the type of influencer with a track record of honoring previous collaborations with other brands.
Ultimately someone you feel you could connect to.
As with all marketing, influencer marketing is best done as part of an overarching marketing plan so tread carefully and ensure that it works for you and your business.
Published: 7th Feb 2024