Influencer Marketing: How to Know if It’s for Your Business
The term ‘influencer’ could be considered a household name in the days of 2020. Influencers have been on the rise these last couple of years, and it doesn’t look like the concept is slowing down anytime soon. The thing is, customers trust the opinions of others and they enjoy following influencers for their creative content. Many brands have caught onto this new way of marketing and have begun incorporating influencer marketing in their social strategies. In fact, nearly 90% of all marketers find ROI from influencer marketing comparable to, or better than, other marketing channels.
As of October 2020, there were 500,000 active influencer accounts on Instagram alone. According to Instagram statistics, user-generated content has a 4.5% higher conversion rate compared to company produced content – make sense why influencer marketing takes up more than half of the marketing budget for 17% of marketers.
Now, while incorporating influencer marketing into your brand’s social strategy may seem intriguing and worthwhile, you want to make sure your brand is compatible with the likes of influencer marketing. Here are a few things to think over before choosing to look for influencers:
What is your product?
Is your product easily appealing to the masses? Will it be something an influencer can easily create content for? When connecting with influencers, you’ll be exposing your product to hundreds – maybe even thousands – of people. If the product isn’t something the majority of people can easily get behind, then an influencer won’t change that. You want the influencer to help your product standout among the competition because that’s what they’re good at. If your product is too niche and hard for them to sell, then spending money on influencer marketing may not be the best route for your brand.
Do you have a social media presence?
It’s kind of hard for influencers to taut your product if you don’t have a social media presence. How will they tag you for their followers to further discover what your brand is? What will their call to action be if you don’t have a social page for them to follow or check out? Having social presence also helps define who your brand is, and will allow you to better differentiate what type of influencer you are looking for.
Are there influencers for your target market?
When embarking on a journey to decide if influencer marketing is right for your brand, you want to first do your research. Are there influencers for your type of product? You want to make sure you pick the right influencer for your product as they will have more of your target audience as followers. You want to identify influencers based on audience type, content type and style, and level of engagement.
Once you’ve decided that influencer marketing is right for your brand, you’ll want to decide on the right influencer. Some things to consider when choosing an influencer:
- Target audience
- Influencer relevance
- Strategic outreach
- End goal
If your company is looking to expand its paid social media strategy, contact TriSpark media today. Our team of talented marketers will get your social status to where you want it to be.