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Influencer Marketing 2024 [GUIDE]
The way we communicate with our audiences evolves each day, and in the digital sphere, it changes in leaps and bounds. What’s a trending topic one day, may be replaced by a new topic the next.
Using influencers, celebrities, and figureheads for marketing purposes is not a new tactic. These individuals already have cult-like followings, which can have a positive impact on the sales of the products that they advertise. Several studies carried out by CPI Celebrity Performance confirmed that:
Brands that use the image of well-known celebrities, influencers, for their ad campaigns earn more credibility and sympathy with their audience. Ultimately, this translates into higher chaces of sales.
The use of Influencers marketing in your digital strategy activates the persuasion principle of “authority”.
The principle of authority establishes that a user who receives a recommendation from an ‘influential’ person will be more predisposed to take an action or make a decision.
Brands realized this phenomenon and started collaborating with YouTubers and Instagramers: they would publish photos and videos of a product in exchange for the free product itself. Finally, this type of collaboration became more professional, high-level influencers started to work with agents and request formal contracts for their collaborations and economic remuneration in exchange.
This type of collaboration started to be considered as another type of advertising. This is when the term Influencer Marketing was coined.
What is Influencer Marketing?
Influencer Marketing relates to communication or marketing actions carried out by influencers. An influencer is any person or figure that can affect the behavior of their followers through social networks, blogs, or other digital media.
These communicative processes across largely followed platforms (such as social networks, blogs, etc.) are considered influencer marketing actions.
Influencer Marketing is an exchange between users with certain authority on digital media and a brand. The Influencer promotes a product, service, or brand in exchange for monetary or in-kind remuneration.
What Are The Benefits of Influencer Marketing?
Working with influencers can generate multiple benefits and wins for a brand. As a business, your overall goal is to win sales, yes, but also to gain authority in your industry, build trust with your audience, and promote your products or services.
Influencers already have a loyal following, with users who trust their reviews and brand promotions. Therefore, working with influencers is a natural way to promote the benefits that your product or service can bring to your customer’s lives.
This then helps potential customers travel through the sales funnel and may lead them to follow your page, visit your website, or make a purchase. Instead of pushing a sale upon users, you can allow leads to come to you through the use of influencer marketing.
By working with influencers, you can diversify your content and alleviate your workload. Influencers create quality content, that they know their audience will enjoy. As a brand, this is a major win, as we know the content creation process is no easy feat.
These are just a few of the benefits influencer marketing can bring to your business. Now, let’s dive into the different levels of influencers, influencer marketing platforms, and how to start collaborating with influencers.
Types of Influencers
Influencers are classified into different categories based on the number of followers in their community and their nature. There is much controversy about how many followers an influencer should have, however, now there are spaces for all kinds of influencers.
Let’s take a look at the differences.
Types of influencers based on the number of followers
⚡ Nano influencers: People who have up to 10,000 followers on their social networks.
⚡ Micro influencers: Influencers with a community ranging from 10,000 to 50,000 followers on Instagram or other social networks, and a range of 10,000 to 100,000 on YouTube.
⚡ Mid-tier influencers: From 50,000 to 250,000 followers on social media networks, and 100,000 to 1,000,000 million on YouTube.
⚡Macro Influencers: From 250,000 to 1,000,000 million on Instagram and from 1M to 10M on YouTube.
⚡ Mega Influencers: Mega influencers are those who have a community of more than 1M followers in networks or more than 10M on YouTube.
Types of influencers based on their nature
⚡ Natives: They are those influencers who have become famous through the social network they influence. They are Instagrammers or YouTubers by birth.
Think the Alex Earle’s, Charli D’Amelio’s, Sommer Ray’s, and Cameron Dallas’s of the world…
⚡ Non-native influencers are those whose fame comes from other non-social channels (television, music, sports, media, film, art, etc…)
Think of Dwayne Johnson, Selena Gomez, or just about any other celebrity who has worked with a large brand…
How to Collaborate with Influencers
If you are considering the possibility of including influencer marketing in your digital strategy, keep in mind the following tips before getting in touch with any influencer.
Establish your goals in working with an influencer
Before starting any partnership, internally your team first needs to determine what goals you are trying to reach. This is important as it will guide you to close the right collaborations, with a clear focus, rather than feeling blind or unprepared in the process.
While trial-and-error is inevitable on social media, you want to ensure the influencer you work with feels aligned with your brand and your goal. This will also help the influencer create content that caters to your objectives.
Make sure they ‘influence’ the right audience
You must search for the right collaborator to ensure your actions get the expected results. Influencer marketing doesn’t center around the influencer but around the audience that follows them.
You must analyze whether the followers of the person that you are planning to contact are part of your target audience or not. One way to view their social media content and analytics in one place is by using Metricool’s competitor analysis feature.
If you’re curious about where different influencers stand in terms of engagement, impressions, reach, etc. you can add multiple influencers’ handles and even compare them against each other. View their top-performing content and what messages they are sending, what strategies they use, and how their audiences respond.
Followers are not everything
When on the hunt for an influencer, you must consider more things beyond the number of followers. First, check the interaction and engagement rates that their content generates. Analyze the quality of their content and ask yourself if your brand would align easily with their daily content.
Just because someone has a large following doesn’t mean the partnership will be successful.
Discover the best way to contact
Normally, their email address will be available on their blog, Instagram bio, Twitter profile, or Facebook Page info. When you send an email, remember to explain who you are, what you are looking for, and what you can offer in exchange.
This is a two-way partnership, so be open and flexible to their schedule and capabilities. While this is a business deal, it’s also a great opportunity to create a valuable relationship with a creator.
Determine a budget
Determine your budget before the proposal and share this with the influencer. This step is important as an influencer’s pricing can vary greatly. This will also help the influencer know what they are working with, so they can create a proposal or draft deliverables within this budget.
Explore the influencer’s media kit
Influencers will normally have a media kit, which includes their engagement rates, audience demographics, niche, and deliverable pricing. This is a professional portfolio of their work and the effectiveness of their content. Take time to review this to understand what their main platforms are, who their audience is, and what engagement they are receiving.
Establish a clear proposal
So, what’s your proposal? What are you planning to offer and receive in exchange? Answer these questions before you close a collaboration. You must know what you offer:
- Your products/services
- Media coverage
- Compensation
You should also know what you will ask influencers in exchange for your marketing strategy:
- Social media content
- A blog article
- A discount for their subscribers
- Live workshops or webinars
- Video reviews, written testimonials, etc.
Don’t undervalue the influencer’s work and make a fair offer in line with what you are asking from them.
Analyze your Influencer Marketing Collaboration
For a marketing strategy to be successful and effective it is important to collect all the important information and analyze the statistics throughout the process: before, during, and after the partnerships; this way you will be sure and can guarantee that you have achieved the expected results.
If you want to know which are the most important metrics to analyze in the world of influencer marketing I leave you an article explaining the main metrics to be taken into account:
Influencer Marketing Platform Examples
If you want to use a platform to streamline your influencer marketing efforts or are struggling to find the right influencer for your brand, consider using one of these platforms to assist your collaborations.
These five different platforms allow you to recruit influencers, manage your collaborations, and track the ROI of your campaigns.
Captiv8
Captiv8 is an all-in-one influencer marketing suite for both brands and influencers to get the most out of their partnerships.
With social insights, influencer discovery, workflows, and measurement, this platform will make sure you hit all the essential steps for a successful collaboration.
They also have a Creative Collection, to create and view affiliate marketing campaigns, to drive e-commerce sales.
Grin
Grin.co specializes in influencer marketing for e-commerce brands.
In addition to offering multiple influencer search options, and having a large database, the platform also displays influencer campaign metrics.
Grin also offers a communication system with influencers that goes beyond email, such as SMS or Slack. Undoubtedly the new means of communication for Generation Z.
Creator.co
Creator.co is another platform made for both brands and creators.
With over 300 million profiles across all social media networks, brands are able to find the best influencers for their brands.
Creators can also find the right brands to work with, allowing both parties to create a positive relationship and powerful campaigns.
Upfluence
Built for e-commerce businesses of all sizes, Upfluence helps brands drive sales from their collaborations.
With their discovery suite and recruiting tools, brands can narrow their results to find the right influencers to work with.
Then use the centralized campaign management platform to launch campaigns and then track sales and ROI.
impact.com
impact.com is a partnership management platform, for brands, creators, and influencers of all kinds.
Brands can use impact for anything ranging from influencer marketing, affiliate marketing, mobile partnerships, and business development, to Saas partnership marketing.
This platform also has a wide range of creators they partner with, including affiliates, influencers, content publishers, and media publishers.
Examples of Social Media Influencers
Speaking of influencers and their success, especially in social networks, here are a few articles on influencers per niche, their metrics, and some of their strategies to achieve success.
Check out the posts! They will help you learn more about each niche of influencers…
There are a TON of opportunities with influencer marketing, and it’s worth checking out, whether you’re a brand or creator yourself! If you have any questions, leave them in the comment section and we will answer you.