Influencer marketing has been a significant disruptor in the digital marketing world!
With the rise of social media platforms and content creators, companies have begun leveraging influencers’ power to effectively promote their products and services.
This is a type of marketing that employs endorsements and product mentions from experts with a dedicated social following in their niche, helps companies reach a vast audience and build trust while driving authentic storytelling and product placement. It is not limited to social media marketing, but extends into podcasts, webinars, membership programs, email lists and more!
Your first thought might be that it is limited to individuals with followings, but it also includes other businesses, magazines and organizations that have built up a reputation.
Service-based businesses of all sizes now invest in this powerful strategy that has proved highly effective in increasing brand awareness, generating leads, boosting sales, and expanding customer bases.
By collaborating with influencers whose followers align with their target audience, businesses can reach new potential customers and build brand credibility, driving conversions.
The influencer’s audience trusts and values their opinions, making marketing to their community the perfect tool to generate sales and build relationships with your customers.
What is user generated content?
Influencer marketing should not be confused with “UGC” or user generated content, which is where someone is just creating a video and many times do not even include their face in the video. In fact, they may position it as your customers generating content for your products or services, but the truth is that it is often just random young people trying to make extra money.
These videos are often individuals making content of them using products and it is often the only thing that they do. They are not using their “influence” to promote anything.
Unleash The Power of Influence
What is influencer marketing and why does it matter?
Instead of relying on traditional marketing methods, which target a broad audience, influencer marketing allows you to connect with niche segments and specific demographics, tapping into the trust and credibility influencers have earned with their followers.
By partnering with credible influencers who share your values, you can access their loyal and highly engaged followers, who are more likely to respond to your message.
It is not always just about social media marketing strategy, you can also harness influencer marketing in other areas such as podcasts, book promotions and webinars.
When done right, influencer marketing can increase brand awareness, boost sales, and grow your customer base FAST.
Collaborating with influencers for your marketing campaign
Finding the perfect influencer for your brand, along with the right social media platforms is pivotal for a thriving influencer marketing campaign. One of the most critical factors is shared values, as you want an influencer whose values align with your brand’s core mission and target audience.
This matching ensures that the influencer’s content resonates with your audience, establishing trust and credibility. Transparent communication about compensation is also paramount to prevent misunderstandings. Ensure your influencer knows your budget and goals, and you’re aware of their rates and expectations for fair compensation. Have all details and agreements documented for clarity.
What category of influencers are there?
There are 5 different types of influencers based on follower count. There is some debate on how many followers you need to be in each category so this is a general list:
- Nano-influencers have 1,000- 10,000 followers
- Micro-influencers have 10,000 – 100,000 followers
- Mid-tier influencers have 100,000- 500,000 (this is where I live with my following)
- Macro-influencers have 500,000 – 1M followers
- Mega-influencers have 1M+
How much do you pay influencers?
If you are hiring someone with a massive following you will want to plan for some sort of compensation depending on how many platforms they post to, how often, and the revenue you expect to generate. There are a variety of ways you can approach this by paying a flat fee or by offering a percentage of revenue. But most businesses take another route by offering them more than just cash and targeting smaller influencers.
What you offer influencers doesn’t always have to come in the form of payment. If you lack a budget to pay for promotion with larger accounts you can target the smaller sized influencers and offer them things like free memberships.
While they may not have the reach of bigger influencers, they have a more engaged audience and can be budget-friendly. Their expertise in specific niches allows for precise audience targeting, resulting in optimal outcomes. Additionally, they build intimate relationships with their followers, making their recommendations impactful.
As influencer marketing continues to shift and grow, aligning with the right influencer can provide exponential outcomes.
Warning: When I was making videos on how to start a business on Amazon with a private label I had some companies in China reach out to me and offer to bring myself and my followers on a VIP trip to meet all of the suppliers. I saw many of those in my same niche take them up on the trip but later it was announced by the US government that this was some sort of spying effort. So whether you are the influencer or the one hiring making sure you understand what is being offered, why and crossing your T’s in the legal department is vital.
Influencer marketing examples for service based professionals
Brendan Burchard’s influencer campaign is an epic example of how collaboration can build a remarkable community and empower brand growth. He partnered with other coaches and consultants to create a membership community geared towards personal growth and development.
Influencers promoted it on their social media channels, email lists, and websites, leading to significant membership growth. The key to success was the influencers’ aligned values and a valuable membership program that resonated with their followers. By collaborating with influencers in the same industry, Brendan leveraged their audience and created a community of like-minded individuals.
Building relationships with aligned influencers is vital to achieving brand growth and loyalty. A one-off effort generates only short-term results. In contrast, long-term partnerships lead to sustained growth and loyal followers.
Investing time and effort in building relationships generates personalized, authentic content that resonates better with the audience. Influencers work harder and promote brands better when they share their values and respect their mission. Building long-term relationships requires consistent communication, transparency, and mutual respect. It is prudent to maintain the relationship and continue providing value even after the collaboration ends.
Techniques for successful influencer marketing campaigns
Influencer marketing requires an attention-grabbing hook that stands out in a sea of online content—creating a unique hook designed to excite people about a brand or product that ultimately involves value. Providing information, entertainment, or exclusive offers are all great ways to give value to your followers.
To further engage your audience, utilize dynamic techniques such as promotions, discounts, social media takeovers, and interactive experiences. With promotions, discounts, and takeovers, you can incentivize people to interact with your brand while interactive experiences, such as polls, quizzes, or contests, generate excitement and create buzz.
Partnering with respected influencers can also be a psychological advantage to drive business success. People tend to associate with and trust those they admire and respect. By partnering with respected influencers in the field, you immediately tap into their audience and gain fast credibility and visibility. This is especially advantageous for new businesses just starting out without an established following.
It’s fundamental to remember that influencer marketing must always be customer-centric and enjoyable. This means focusing on providing value and ensuring that the experience is enjoyable. By building long-term relationships with the right influencers provides a foundation to establish customer loyalty and brand awareness.
Get more support in creating your first marketing campaign
The first step into starting your first influencer marketing campaign is to understand the step by step process and all of the things you need to consider from a legal perspective. That’s why I wrote “Unleash The Power of Influence” to give you a step by step guide to be able to create your first campaign. You will also get access to tools, templates and other resources to get started! Check out the book now!
If you need help finding credible influencers and developing strategic partnerships, we can assist you in achieving your business goals. By leveraging our extensive experience and expertise, you can create successful influencer campaigns that align with your brand values and resonate with your target audience. Don’t miss out on the opportunity to take your business to the next level with influencer marketing. Feel free to book a call with us today!