According to Statistica, in 2020, companies in the U.S. will spend over $37 Billion in social media ad spending and influencer marketing plays a huge part in this…

What is Influencer Marketing

Influencer marketing is is taking advantage of a well-known celebrity or social media personality with a significant following on the social networks. As social space is more and more cluttered with ads it pays to have your brand leveraged by using influence as a marketing ploy. The issue becomes which one and how do I manage the influencer to get the expected marketing and sales results.

Studies show that a little over 90 percent of U.S. companies are and will be using social media for marketing purposes. In 2017, social messaging and video were thought to be the trends of the future in relation to social media advertising and believed to have the biggest effect on marketing strategies. Lo and behold, advertising spending on social video has been growing ever since, and is expected to amount to nearly 15 billion U.S dollars in 2021. Even in this respect, Facebook has the lead, especially when it comes to influencer marketing. In fact, all tiers of influencers – from microinfluencers to celebrities – post the majority of their videos on Facebook. The second choice of platform to share their videos is YouTube, which despite being ‘the’ video sharing platform is not as popular yet among influencers most probably due to smaller user reach.

Statistica

Your goal is to create a distribution channel to break through the ad clutter. Finding the right talent match that can help you do this is like a dating selection process – lots of people but you’re looking for the right match.

There are five key issues which must be addressed in selecting which influencer to use….

1. Who is following the Influencer? Use of demographics and finding out the ‘engagement’ of the Influencer with his/her posse. Do they comment?  Do they tag their friends in comments?  The goal being to tap into the Influencer’s fan base (which are going to buy, use, and repeat buy) your product or service.
2. Does the Influencer’s audience align with your target market? Just because an Influencer has a large fan following doesn’t mean he/she is a good match for your brand.  Certain personas may be terrific for you while others a complete wash-out.
3. What’s the Influencer’s history? Follow the Influencer on social media before deciding. Create a secondary account and see how your prospective Influencer performs. Do they make questionable or controversial posts? How well do they fit into your marketing strategy? Vetting the Influencer thoroughly before signing up for their service is requisite.
4. How affordable is the Influencer? Are they a celebrity, wide-range influencer, trailblazer, or microinfluencer? These are the broad categories in play and each level has its price. Your best bet is to mix as many levels as you can afford, keeping in mind your goals and which demographic you want to reach and engage with. No matter which level you choose, you must research the Influencer’s stats so you can negotiate a fair price — it’s quality and not quantity you’re looking for.
5. What are YOUR goals? What are the expected results from your ad campaign? You will need to set specific benchmarks and KPIs — such as, awareness, reach, sentiment, or action and have a timetable for results.

Is Influencer Marketing for You?

In conclusion, the purpose of influencer marketing, like all marketing, is to generate new customers, while retaining the old ones. With the right influencer, your brand identity, as well as sales, could soar.

Furthermore, understanding a talent’s influence is essential to a successful match and the requisite marketing impact. Check out WHOSAY for more info.

Here, also, is a perfect example of how influencer marketing can go viral.

4M Performance takes the fear out of the future…

We provide our members reliable insights that you can instantly implement for your business success. These include how-to’s, tips, and takeaways based upon the 4Ms of business acceleration: Management, Marketing, Money, Momentum. It’s the information you need to help boost your business to the next level.

Please let us know what other types of articles or resources will assist you in your business. We want you to survive and thrive through these uncertain times. We’re here for you!