Digital Marketing Trend Alert: Influencer Marketing
In the last article that we wrote, we talked about ‘Trends to Consider in Your 2023 Digital Marketing Strategy’. If you haven’t had a chance to read that article yet, click the link above to check it out.
Today, we are diving into the world of influencer marketing. Something that can be overwhelming to even consider for your brand, but a marketing strategy that most brands will say is way too beneficial to ignore.
So let’s get started.
What is an influencer?
An influencer is a person who has built a significant following on social media platforms, and uses that following to influence others in their purchasing decisions. They can be found on platforms such as Instagram, TikTok, YouTube, and Twitter.
Influencers use their platforms to share content, such as photographs, videos, and written posts, which often include sponsored content or product endorsements. They also engage with their followers through comments and direct messages, building a personal relationship with their audience.
Some examples of Instagram influencers that you are probably already aware of are:
· Cristiano Ronaldo - 443M Followers
· Kylie Jenner - 339M Followers
· Lionel Messi - 328M Followers
· Selena Gomez - 320M Followers
· The Rock - Dwayne Johnson - 315M Followers
Where can you find influencers?
Influencers come from all walks of life, and their audiences can be just as diverse. Some influencers focus on specific niches, such as beauty or fashion, while others have a more general audience. Some influencers are also known for their expertise in a particular area, such as cooking or travel.
What is a micro-influencer?
In recent years, a new type of influencer has emerged known as a micro-influencer. These are individuals with a smaller following, typically between 1,000 and 100,000 followers. Micro-influencers often have a more engaged audience, and are seen as more authentic and trustworthy than their larger counterparts. They also tend to have a more specific niche and are more affordable for small businesses to work with.
Some examples of Canadian micro-influencers that are worth keeping an eye on are:
Michelle A - @messnamedmichelle – Fitness, food, travel
Taylor Pischke – @taylor_pischke – Animal shelter volunteer, microbiologist, sports
Sonya Heath - @sonyahealth2022 – parenting, empty-nesting, travel, cleaning, home
Barbara Olas - @nurseiq – Nurse, Healthcare, Nurse Education
Omar Hachem - @iamomarhachem – Men’s mental health advocate, writer, graphic designer & author
Kate Campbell - @katebuilds – Construction, HGTV, home Improvement, woodworking
There are way too many micro-influencers out there to name them all here. These are just some that we have come across in our feeds lately.
Other micro-influencers to consider are local people known well in your neighborhood. These people likely will not require a lot in terms of payment, but collaborating with them will get your name out there further and possibly attract other influencers or make it more likely that another influencer will work with your brand.
Why would your brand/company want to work with an influencer?
Brands often work with influencers to promote their products or services. Influencers are often paid to include a brand's product in a post or video, or to use a brand's promotional code. Payment can take various forms, such as cash, product, or a combination of both. Influencers can also be offered free products or experiences in exchange for sharing their thoughts and experiences with their followers.
However, it is not always necessary for influencers to be paid to work with a brand. Some influencers may choose to work with a brand because they genuinely like the product or align with the brand's values. In these cases, the influencer may be willing to share content without receiving payment.
How much should a company budget in order to use influencers as a marketing strategy?
The cost of using influencers as a marketing strategy can vary widely depending on a number of factors, including the size of the influencer's following, the type of content they produce, and the length of the campaign.
For micro-influencers, with a smaller following of around 1,000-100,000 followers, the cost can be relatively low. Many micro-influencers may be willing to work with a brand in exchange for product or a small fee. A company can expect to budget a few hundred dollars to a few thousand dollars for a single post or a small campaign with a micro-influencer.
For influencers with a larger following, the cost can be significantly higher. Some influencers with millions of followers can charge tens of thousands of dollars for a single post or a longer-term campaign. However, the prices may vary depending on the type of content, the influencer's niche and the audience they have.
It's also important to note that some influencers may require additional costs for expenses such as travel or equipment, so it's important for brands to discuss all costs with the influencer before entering into an agreement.
Additionally, it's worth considering that influencer marketing is not a one-time expense, it's a long-term strategy that requires ongoing investment. Brands need to consider the cost of creating and curating content, tracking metrics, and optimizing campaigns over time.
In summary, companies should budget anywhere from a few hundred dollars to tens of thousands of dollars for an influencer marketing campaign, depending on the size of the influencer's following, the type of content, and the length of the campaign. Companies should also consider the ongoing investment required to make influencer marketing a successful strategy.
Are there laws around working with influencers?
Influencer marketing is becoming heavily regulated. Brands and influencers are required to disclose their financial relationship in posts. In addition, influencers are prohibited from making false claims or promoting products that are dangerous or illegal.
Is influencer marketing a good way to market your business?
Yes. Influencers have become a powerful force in the world of marketing. They have the ability to reach a large audience, and their recommendations carry a lot of weight with consumers. Brands are recognizing the value of influencer marketing, and are increasingly turning to influencers to promote their products and services. Micro-influencers, in particular, have become an attractive option for small businesses looking to get into influencer marketing.
How can Dreamweaver help your business team up with influencers?
A lot of time and energy goes into researching the right influencer for your brand. This can take away from the daily tasks that you need to complete. That’s where Dreamweaver comes in. We can do the research, set up the meetings and be the point of contact between influencers and your brand, meaning the workload is taken off of you and all you will need to do is approve the influencer and the content that will be shared.
Let’s get started finding influencers for your brand today!