Influencer marketing can be a great tactic when companies want to grow brand awareness and sales. If you had told us influencer marketing would be a thing back in the 90s, we would’ve laughed you out of the room. The fact is, the world has changed, and social media is the norm. Weird, we know. While it’s easier to let awesome public relations professionals (a.k.a. us) handle your influencer marketing for you, we figured we’d still give you an overview of how this whole influencer thing works.
The World of Influencers
If you’re unfamiliar with influencer marketing, take a look at any of the Kardashians. They are always promoting something. In fact, Khloe Kardashian just became an IPSY partner. IPSY is a subscription box delivered monthly that’s filled with cosmetic samples. And now it’s endorsed by Khloe Kardashian, too. Oh, the power of influencers. According to Adweek, the influencer industry is set to reach $10 billion in worth in 2020. That’s a whole lotta dough! Most influencers can be found on Instagram, but other networks like Snapchat, YouTube and TikTok have their own set of influencers with different demographics. It all depends on who you want to reach.
Working with Influencers
Working with influencers is considered to be part of public relations, but it really is a combo of PR and advertising. Why? Influencers don’t work for free. They expect to be compensated for promoting your product or service.
You don’t need to have a million-dollar budget to work with influencers, though that is certainly preferred. The most common types of influencers are macro and micro, and they both charge differently. Macro influencers have between 100,000 to a million followers. They still don’t have the “celebrity” label, but they have a greater reach and a very engaged following. That also means they can be pricey. Micro-influencers don’t have the same pull as, say, “celebrity” influencers. They have a smaller following, but their followers are usually highly engaged. If you are dipping your toe into the influencer world, micro is the way to go.
There are also mega and nano influencers, but we’re not going to bore you with the types you can’t afford.
When working with influencers, you need to have very clear goals set. If your goal is to increase brand awareness, then the smaller influencers are the best bet. If you’re trying to promote a product, then the bigger influencers may be best. The goals you set will determine what influencer will benefit your brand the most.