The world of social media has brought about the existence of influencers and influencer marketing. So, who are influencers? These are social media personalities that have a large and engaging audience as their followers.
Because influencers have a large following on their social media platforms, they tend to be a good avenue for promoting your product and service. That is how the term influencer marketing came into existence.
Whenever you sponsor and collaborate with an influencer on several projects, you expose the company, products, and services to a wider audience. Depending on the niche and type of audience, it is possible to increase your sales.
If you are interested in trying out this type of marketing, then keep on reading this guide. We will talk about everything that is related to influencers and how they can be useful to your business.
Several things that can go into categorizing the influencers. The most common categorization is using the numbers of their followers. Below are some of the common categories.
Anyone who has more than a million followers on a single social media platform falls under this category. They are often regarded as celebrities in some countries. We are talking about people such as Jake Paul and his brother Logan Paul. Many others have achieved the same status and are easy to spot.
For such people, getting them to promote your business will improve its exposure in a matter of posts.
As for the medium-tier category, we are looking at influencers with a following of 100,000 followers to 1,000,000 followers. They might not have as many followers as the previous category, but they are still influential.
If an influencer has below 100,000 followers, but above 10,000 followers, then such is a small influencer. Never underestimate them as they can be more engaging with their followers compared to the gigantic tier category.
Anyone who has below 10,000 followers is a micro-influencer. Such a person might not always get the attention of big corporations looking to promote their business, but they can also help sometimes.
At this point, it is easy to see why you might want to get the best influencer for your money. The last thing you want is to end up spending money and not getting the value back.
How Much Do Influencers Charge?
We can say that the influencer marketing budget must be part of the company’s marketing budget. Depending on the type of influencers you pick to promote your product, the budget can be significant sometimes.
Right now, influencers know the worth of their audience. They are likely to charge more if they have a lot more followers.
The general cost comes down to about $100 per 10,000 followers. The newer influencers are likely to charge a lot less to attract more clients. Some can charge 75% of what the big influencers request as part of the marketing budget.
When someone has more than 100,000 followers, that is when they start to increase their rates. They now know that they have enough followers as their bargaining chip.
Like any other type of marketing, you would want to know the ROI of your investment in influencer marketing. Sometimes, it can be difficult to gauge at first, but you should expect a spike in the product’s interest from when the influencer talks about it.
Within a few days of an influencer promoting your product, you can check the website metrics to see if more people are visiting it. The spike in visitors is a sure way that the influencer is engaging, and people can listen to his or her advice about your product.
If the influencer is convincing, you can also see an increase in the number of orders.
Influencers can also be great for a PR campaign or when you need to break into the market with a new product. It is why most companies will have the influencers hype their product even before it launches. They can also offer exclusive deals to their followers to make them more interested in your product.
Find the Right Influencers for Your Niche
Each influencer will appeal to a particular audience. Let us say someone vlogs about cars, then the followers are likely to be car enthusiasts. As such, if you are a company that deals in car parts, such would be a perfect influencer for your business. The same thing applies to other niches such as home improvement, technology, insurance, and many more.
Each platform will have tools that can help you find the right influencers for the business. If you look at YouTube, it is so easy to get the right influencers as you can sort the channels by category. Another common tool is Social Blade. This tool will show you the relevant metrics so that you know the best channels to use for product promotion.
Social Blade does not just work for YouTube, but also Twitch, Instagram, Twitter, Mixer, Dailymotion, DLive, and Facebook. It is easy to see why it will be an ideal tool for tracking social media statistics and analytics.
Other than using tools such Social Blade, BuzzStream, and Trackrr, visit the individual social media platforms to learn more about the type of audience that is likely to use it. From the social media platform, you can easily gain access to the platform’s top trending persons under different categories.
Important Considerations About Influencers
Sometimes you get blinded by the number of followers that you forget to check out other important considerations.
As much as an influencer can have many followers, the engagement rate is important too. Let us say that a person has 100,000 followers, but the engagement rate is below 10%, then such audience might not be the best. Someone to have fewer followers but a higher engagement rate.
Look at the quality of content that the influencer posts. It is from such quality that you can see if the audience remains engaged or they easily get bored after a while. Having good content, but fewer followers is always a sign of a great influencer on the rise.
Another thing you should be aware of is the fake followers. Right now, there are multiple services online that claims to sell followers. Anyone can buy followers and claim to be the best influencer in the business. In such a case, this type of influencer will not offer any quality engagement for your product or service as all the followers are fake.
Before you can make up your mind about a certain influencer, take your time to look at their metrics. The last thing you need is to waste your money on an influencer who will not bring any value to the company.
By now, you understand the importance of influencers. They can be your ticket to breaking into the market or keep the company relevant for years to come. What is important is to identify the right influencers in your niche. With the best influencers, you can get the best exposure compared to other marketing channels.