Do Influencers Really Have Influence?

Unless you’ve been living under a rock for years, you’re likely aware of the power wielded by social media influencers. Their influence and reach, so to speak, is unavoidable and significant.

Here are some compelling facts and figures to prove the point (from Rakuten Marketing): “Consumers are frequently discovering new products and brands through influencers, with as many as 41% of consumers saying they find at least one new brand or product from an influencer weekly, and 24% saying they did so daily. With 65% of shoppers discovering something of this frequency, brands are presented with many opportunities to reach new consumers through influencers.”

To continue, “When consumers do get inspired, they have little reservation about shopping through an influencer’s page. Four in five globally surveyed consumers said they made a purchase recommended by an influencer through clicking on a link or image that was shared, while 88% of consumers surveyed have been inspired to purchase based on what they saw from an influencer.”

In fact, you’ve probably heard some amazing success stories about how the right influencer helped take a brand from relative obscurity to a household name.

Notice the operative word – “right” – in the previous sentence. Yes, creating a relationship with the right influencer(s) can be a game changer. And it’s definitely something you’ll want to consider when developing the online marketing strategy for your brand.

On the other hand, riding the coattails of the “wrong” influencer will be a waste of your precious time, and possibly some money as well.

How Do You Identify the Right Influencer?

You can’t identify the right influencer for your brand if you don’t have a good idea of what you’re looking for in advance. To keep you from internet-searching in circles, we suggest you create an influencer marketing plan. Ask yourself some hard questions: What do you want from the influencer? Sales? Brand awareness? Image building? Consider all of these questions, and then some, when creating your plan.

The next step is to look for a good fit. In your excitement to add an influencer to your brand’s marketing plan, don’t overlook the obvious pitfalls. There are many influencers out there, and some might even contact you with a proposal. This is not the time to make a snap decision. Consider your choice carefully. Does this person seem like the right brand ambassador for your collection? Will they influence your target audience? Are they someone you would follow? Do your own research before making your choice!

Zoomed In Pixel offers this handy tip: “Influencer marketing [sites] like Ninjalytics can be of great help here. It provides detailed insights about the influencers and helps you connect with the relevant one.”

Consider How (and How Much) You Can Pay

The financial investment in your influencer marketing can range from trading merchandise for posts to actual cash payment. How (and how much) an influencer will charge is based on their audience, followers, engagement and current market rates.

Decide on your budget first, and stick to it. This will help you determine which influencers to contact. Influencers fall into three categories:

• Micro Influencers. A micro-influencer is someone who has between 1,000 to 100,000 subscribers or followers. Micro-influencers focus on a distinct niche or area and are usually regarded as an industry expert or topic specialist.
• Macro Influencers. Macro-influencers are very well-known influencers, and sometimes will have more than a million subscribers. The limit varies but they are most often estimated at more than 150,000 followers.
• Mega Influencers. Mega-influencers are of above 500,000 subscribers or followers, they usually cost a large chunk of money.

If you’re just starting out, you’re going to want to talk to Micro and Macro Influencers. Micro and Macro Influencers will often trade posts for merchandise, so be sure to consider this option of “payment” as well when negotiating.

There are many influencer options to consider before determining the right one for you:

• Bloggers
• Social Media Stars
• Celebrities
• Industry Experts
• Thought Leaders
• Customers
• Noncompeting Brands

Go Ahead and Reach Out!

Popular influencers are fielding numerous requests on the daily. Think about it. What if you had hundreds of emails and DMs to answer every day? While a good influencer makes communication look easy, it’s a tough job!

You need to reach out to your potential influencers in a way that will cut through the clutter. Make sure your outreach is concise and personalized. Be clear, honest and appreciative of their time, and most importantly, be patient. You might have to send more than one message to get through (but always be polite!).

Some Macro and Mega Influencers work with agents or intermediaries. So the contact details that you see on their Instagram accounts or blogs might not reach the actual influencer directly. Go ahead and use that contact info anyway; the agent’s job is to be on the lookout for brands that are a good fit with the influencer they represent. If that’s you, they will then forward your request to the influencer personally, along with their recommendation.

Tracking Your Results

Once you have your influencer marketing plan up and running, the next step is to track the results. That’s how you can determine if you’re achieving your goals.

By tracking your influencer’s marketing success, you’ll be able to figure out what works for your brand and what doesn’t. This can help you make decisions about how and when to adjust your strategy.

According to the Rakuten Marketing Report: “Of those surveyed, 61% interact with an influencer at least once a day and 35% interact with influencers multiple times a day.”

That’s an extraordinary number of people that could be learning about you, your brand, and buying, on a daily basis. Working with the right influencer is a great way to reach them!

If you’d like to talk more about achieving your business goals, we’d love to hear from you. Feel free to reach out to us at https://tegintl.com/get-in-touch/ or call us at 800-916-0910.