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The Beginner’s Guide to Using Influencer Marketing To Grow Your Business

Influencers have an audience comprised of their social media following. You can market to this audience by using influencer marketing. It involves identifying public personas that have a high impact on your audience and submitting your brand message through them. The influencer usually creates the content but the brand can do this also. Influencers have earned the trust and engagement of their audience.

The influencer usually has their famed attributed to them in a certain industry, it could be the beauty industry or high-end camping gear. Influencer marketing is a legitimate way to get in front of a large group of people that are extremely likely to be interested in your offering. You’re taking advantage of the years of hard work the individual put into cultivating a following that will listen to everything they have to say. Influencers value their audience and most of them are not looking for a quick payout because they built their following one person at a time.

What is an influencer?

An influencer marketing campaign benefits both parties mutually. The strength of the relationship an influencer has with their audience is the factor that drives the audience to buy. Rather, the audience is influenced to buy because of the individual promoting the products or services. A beauty influencer may try new products and review them for the followers.

The followers are influenced to try the same products and will need to make a purchase to do so. Influencers understand their audience extremely well. They know exactly what turns them off and what will rouse their interest. The followers enjoy hearing from someone they’re in awe or appreciation of. Influencers encourage individuals to make a purchase decision

What types of influencers are there?

There are several different types of influencers that you can work with. Choose someone popular and relevant to your industry. Bloggers share content in word form while vloggers communicate via video. Then you have influencers that forge a bond by sharing a variety of content about their lives via Instagram. For example, some families have garnered an audience by posting quirky videos of themselves joking or cooking.

Reality TV stars often form partnerships with brands to promote subscription boxes or e-commerce products. When it comes to influencers, power is not always in the numbers but the engagement level. Oftentimes, marketers will seek out the influencer with the biggest following, but that doesn’t necessarily mean their audience pays attention to every post, comments, and shares.

Sometimes micro-influencers have stronger relationships with their smaller audience, an audience that pays attention to every word the influencer says. On a more granular level, you have nano-influencers with a following of a few thousand members. There are also activist influencers driven by a mission or a cause that garners a crowd of like-minded people. Journalists are influential, making their presence known on Twitter and Instagram.

How to Find Influencers?

There are lots of different influencer marketing tools you can use to help you find the right influencer. There are many different ways to find influencers, one of them is to go directly to your audience and research who they follow. Who does your audience look up to? If you don’t have an audience to analyze, you can always use one of the many influencer tools available online. Buzzsumo is a tool that allows you to analyze data from influencers, follow them, and outreach them.

The platform allows you to find individuals geographically or around a topic of your choice. You can export the data you collect into another platform too. Followerwonk helps you search through Twitter bios and profiles. You can search by URL, name, or location to find influencers on Twitter based on their social authority, followers, tweets, and account age. Hootsuite is another online platform that allows you to search for Twitter users.

Hootsuite has the capability of monitoring relevant conversations to find influencers. Trendspottr is a tool that helps you find trending influencers. You can get the attention of an influencer by joining a platform they’re already on and participating in the conversation. Find out where your type of influencer is hanging out online and join the conversation on Reddit, industry webinar, Facebook group, or LinkedIn groups.

10 Influencer Marketing Statistics

1. Instagram is the number one, most impactful channel for influencers.
Instagram has turned out to be one of the best platforms to reach a new audience quickly. Instagram has been the fastest growing social media network of 2020.

2. Four out of ten Millennials feel that their favorite influencer understands them better than their friends – Think with Google
It can be difficult for brands to build the same level of trust as individuals that influencers have over their audience. Many YouTube personalities are great at building rapport. The majority of teen subscribers feel they can relate to YouTube creators more than the friends they regularly interact with.

3. The influencer marketing industry is expected to hit $10 billion by the year 2020
Many marketers think that influencer marketing campaigns allow them to reach their target audience and yield a powerful effect. Working with influencers helps you get your message to new audiences and increase brand awareness.

4. 74% of consumers use social media to guide their purchase decision – SproutSocial
You may be surprised at the sheer amount of people that go online to validate their purchase before making it. Consumers go beyond simply reading reviews and product ratings. They watch their favorite influencer review the product or service and typically believe what they have to say.

5. Ad-blocking tech is used by 40% of consumers – Global Web Index & AdBlock Plus
Reaching your ideal audience through banner ads has become increasingly difficult since ad blocking technology is so prevalent. Marketers have had to be more creative about building trust and being a “top of mind” brand for consumers.

6. 90% of marketers use engagement rate as a metric
Knowing the success of your campaign is crucial. Nearly all marketers that roll out influencer marketing campaigns use engagement rates as a metric. Calculating ROI continues to be a challenge when it comes to this type of marketing.

7. Working with influencers is highly affordable for any budget
Not all influencers charge thousands per post. There are many powerful influencers you can work with for less than $250. About 84% of smaller, micro-influencers charge this amount.

8. 61% of social media users interact with an influencer daily
People in the 25-34-year-old age range are most likely to interact with an influencer on Facebook. Those in the 19-24-year-old range are likely to interact on Instagram. Older responders to the survey tend to not follow any influencers.

9. 70% of millennial-aged consumers value endorsement from peers over celebrities
Traditional marketing involving celebrity-driven promotions are antiquated and seen as not genuine. Promotions from influencers are seen as more authentic.

10. Micro-influencers have more engagement than celebrities
A celebrity may have an immense audience, but not every member is engaging. Influencers with smaller audiences experience higher comment and like rates than their counterparts with larger followings.

5 Influencer Marketing Trends

  1. Commissions are requesting for influencers to clearly Express what their relationship is with the brand when promoting a product or service. There has been increased clarity regarding which posts are sponsored and meant to be an advertisement.
  2. Marketers have focused more on micro-influencers since they have a greater engagement rate than an influencer with millions of followers.
  3. More episodic content leads to a higher affinity with a brand. Consumers enjoy going along for the ride on an authentic and unedited adventure.
  4. With so many fraudulent accounts trying to take advantage of influencer marketing, there has been an uptick in the need to verify accounts. Thanks to verified reporting tools, brands can rest assured knowing that an account’s followers are authentic.
  5. With the rise in popularity of Instagram TV, there is an increase in how important video is. A prediction from Cisco says that 82% of web traffic will be video by the year 2022.

Tips For Creating An Influencer Marketing Strategy

To run a successful influencer marketing campaign that you are satisfied with, start by defining your goals. You will never know if you have reached your ultimate destination if you haven’t defined it. you need to be crystal clear on what you plan to achieve to run your campaign most effectively. Perhaps your goal is to reach a greater, relevant audience or to generate sales or leads. Once you’ve defined your goals, next to find your key performance indicators each go. you’ll also want to measure metrics such as Impressions, shares, likes, and comments. This will give you a precise idea of how many people engaged with your content.

You can double down your efforts and scale by getting multiple influencers involved in your marketing campaign. Make sure that you get the right group of influencers by thoroughly researching them first. You want influencers with genuine accounts and no bot followers. Fake influencers will not generate real engagement and can be a tremendous loss for your brand. to avoid fake accounts, look at the number of likes and comments that posts are receiving in comparison to the size of the following. Also, you can check and see if they have worked with any reputable brands in the past. Don’t overlook small communities for sales and short-term traffic. By addressing smaller communities you can get highly targeted traffic to your offer.

Thanks for reading "The Beginner’s Guide to Using Influencer Marketing To Grow Your Business", by the Linchpin Team in Chicago, Raleigh, and Wake Forest.

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