How Does Influencer Marketing Work?

How Does Influencer Marketing Work?

If you are new to influencer marketing, there is some uncertainty around whether it’s worth the time and investment. However, influencer marketing has become one of the biggest assets for brands looking to stand out. It’s the ideal approach to appeal to target audiences.

Many influencers on social media and other platforms have developed massive followings. They are trusted and respected for their opinion. That trust and respect could go to your business if you associate with these influencers through marketing strategies.

Influencer marketing is seeing exponential growth today. More businesses see the value of partnering with influencers. The market has actually grown from $1.7 billion in 2016 to $9.7 billion in 2020. It’s projected to grow to $13.8 billion by the end of 2021. Many brands are also spending the bulk of their marketing budget on influencer marketing. In fact, 17 percent of marketers intend to spend more than 50 percent of their budget on this channel in 2021.

These stats show the kind of value that many brands see in these strategies. Plus, it shows why your brand will benefit from developing a strategy of its own. Read on to gain a deeper understanding of how influencer marketing can boost exposure and ROI. We’ll go over what exactly influencer marketing is, its benefits, and how brands can get started on their next strategy.

What Is Influencer Marketing?

Put simply, influencer marketing involves businesses partnering with influencers to market their business online. In developing an influencer marketing strategy, brands identify the right influencer in their industry to reach the right target audiences. Influencers are individuals who can lead certain trends and fashions to impact people’s buying decisions.

Many influencers have large followings because of their reputation as a trustworthy and engaging source of knowledge, entertainment, or both. However, the scale of influencers’ audiences will depend largely on the specific niche. And, some niches will be more popular than others.

Influencer marketing initially started as celebrity marketing. However, both the reach and accessibility of the internet have enabled nearly anyone to become a popular influencer. What sets influencers apart from conventional celebrities is their perceived expertise in particular niches.

Oftentimes, they develop a following on social media platforms such as Twitter, Facebook, and Instagram. But a growing number of them are also using YouTube to connect with millions of users. Unlike traditional celebrity marketing, influencers often choose to promote products or services that appeal to both them and their specific audiences. Consumers respond more positively to this than to detached paid endorsements that may not seem as sincere.

Why Brands Need an Influencer Marketing Strategy

Traditional online ad campaigns may still work, but they’re often far less effective today than they were. The reality is that most people simply ignoring banner ads or other types of ads across the internet. In fact, they actively attempt to avoid them by installing ad-blocking applications.

TV commercials may also limit exposure as more and more people switch to streaming services, including YouTube. Social media marketing is also something that many businesses attempt. But it can be hard to build an audience without some type of gateway to potential customers beyond word-of-mouth marketing. 

In short, multichannel marketing can be a challenge when just starting out. But influencer marketing can make things easier with the right approach.

With the help of influencers, businesses can access highly engaged audiences of people with similar tastes and interests. Many influencers have spent years cultivating a loyal following. Those loyalists are always interested in what they have to share, whether it’s something they’re passionate about or a brand that they love.

If you want your brand to resonate with people and maximize your reach, connect with the right personality.

Deciding on the Right Type of Influencer

It can be challenging to find the right influencer to partner with for a campaign, as recent stats show. Twenty-two percent of brands stated in an Influencer Benchmark Report survey that finding the right influencer was difficult. Another 56 percent found it to be of “medium difficulty.” On the other hand, taking the time to find the ideal influencer can be incredibly rewarding.

Depending on your specific niche and budget, there are a few different basic types of influencers to consider:

  • Celebrity influencers — Celebrities have been around the longest of the influencers. Big brands work have offered them paid endorsements since the dawn of commercial advertising. Celebrity endorsements can be highly successful as people come to associate brands with personalities they know and love. However, celebrity endorsements are highly expensive and can often feel impersonal. They may not work as well for brands in a hyper-specific niche.
  • Macro-influencers — These are influencers with especially large followings of up to millions of users on social media and other platforms. Unlike celebrities, macro-influencers have built a reputation as experts within a particular niche or industry. They won’t be as widely recognized as most celebrities. But they’re extremely popular in their niche. Being number one in their niche also means that brands will need to compensate them well.
  • Micro-influencers — These make up the majority of influencers. They are either on the rise in their niche or catering to a very specific niche that has a smaller following. For brands just starting out, micro-influencers are often the best to work with. They won’t charge too much while giving your brand access to a decent-sized audience within your niche. Working with multiple micro-influencers can also help increase exposure while helping you stay within your budget.

Locate the right influencer that’s worth connecting with. Reach.Dog can help. This solution will connect you with a reputable celebrity influencer, macro-influencer, or micro-influencer based on your needs.

How to Approach Influencer Outreach

Once you’ve decided on the right type of influencer and found a few viable options in your niche, it’s time to complete the outreach process. This will entail getting in touch with and winning over influencers as you establish a relationship with them.

Keep in mind that it can take some time to build a rapport with influencers. You will need to gain their trust and give them a good incentive for promoting you, beyond simply paying them. 

If you find an influencer you think is the right fit for your brand, follow them. Learn more about their personality, and how they connect with their audiences. You can also engage with them through comments, likes, and shares that show you support them.

Avoid connecting with them more directly early on. Wait for them to acknowledge you through more subtle connections, such as shares and comments. Over time, however, you can begin to reach out. Send them a message via email or a direct message on social media platforms. 

The important way to approach the outreach process is to practice patience and nurture your relationship with the ideal influencer. Eventually, they will likely be more willing to work with you as they become familiar with your brand and what it’s about.

To initiate outreach, you can start following and learn more about the influencer you want to work with via Reach.Dog.

Use Influencer Marketing to Boost Your Marketing Efforts

Influencer marketing is one of the best ways to promote your business early on as you attempt to reach new customers. Choose the right type of influencer and the most compatible individual to endorse your offerings. As a result, you’ll be able to yield great results with your efforts. 

For more helpful influencer marketing tips and industry trends, learn more on Reach.Dog. Reach.Dog is a free influencer marketing platform, developed by James Cashiola. Using this platform, your brand can locate a compatible influencer and initiate the outreach process.

By The Reach.Dog Team

Leave a Reply

Your email address will not be published. Required fields are marked *