What Is Influencer Marketing?
Influencer marketing is a type of social media marketing where a person with an established following promotes a brand. If done right, it is effective because followers trust and listen to the influencers they follow. They also have incredibly specific audiences. For example, Kylie Jenner’s company Kylie Cosmetics made her a billionaire because she targets her following of young girls, who are interested in makeup, and willing to pay her price. Kylie has not paid a single dollar in social ad spend because of her following on social media. Kim Kardashian’s makeup brand is slightly less successful because she has an older crowd that is less interested in makeup and not always willing to spend money on expensive products.
What Are Micro-influencers?
Micro-influencers are influencers with fewer followers, traditionally 1,000-10,000, that help businesses target their specific target audience. Micro-influencers followers listen to their specific niche. Micro-influencers are the best option for your business if you are trying to market in a specific area. Many micro-influencers stay in one place and promote local businesses.
Should My Brand Invest In Influencer Marketing?
Some industries should avoid influencer marketing. For example, a school should not be paying influencers that do not attend their institute to promote them. A small tech school in Boston, Massachusetts recently tried this, and it immediately backfired. The school hired a Youtuber to post a picture in a school sweatshirt and write a paragraph promoting it. Naturally, students found it, and the influencer received hundreds of hateful comments. Schools, hospitals, and law firms should stay away from influencer marketing.
With this being said, the best industries for influencer marketing today are beauty, food & beverage, travel, and entertainment. However, how effective it will be for your business is dependent on your product. The beauty industry has taken off with influencers. TikTok influencers specifically have caused products to sell out completely. If you get the right influencer, with the right following, to promote your product you could generate an immense amount of new sales. It will then be up to you to make them repeat customers.
How To Hire An Influencer
So where do you go from here? First, you need to establish your marketing goal. Do you want to reach a lot of people with an influencer or a few specific users with a micro-influencer? Next, you need to decide the best social media platform for your business. Instagram is the most typical for influencer marketing but TikTok and Youtube are also very effective. Then, do some research to find the influencers that best match your criteria. Influencers all either have business inquiry emails or a manager you can contact. Be prepared to give them a contract outline of what you want and how often you are asking them to post. Most influencers have set prices but you can always research to stay within your budget. Influencer marketing will work best if the influencer believes in your product, so choose wisely.