Firstly, what is influencer marketing? When did this become a thing? Why is everyone talking about it?!
Well, Influencer marketing is a new-ish form of marketing that has become extremely popular within the past couple of years, especially on Instagram and Youtube. Basically, you hire someone who has a great following and good engagement to market your product to their audience. Why is this popular? Influencers on Instagram and Youtube have thousands of impressions because people watch them or follow them for what they do, they are interested in them. Let’s say you are selling photography products, you could pay a well known photographer on Instagram to post your product on their page & this will drive traffic to your product! According to startupgrind This amplification of content is another benefit of influencer marketing that sets it apart from other channels in terms of ROI, as word-of-mouth has 37% more retention rate and generates twice more sales compared to paid advertising.
Influencer marketing can get expensive. The more followers and engagement they have, the more they charge a post. One thing you have to look out for when looking for an influencer to post your product is if their followers are real. A lot of people know you can make money by having a lot of followers so they will buy followers just to say they are an influencer. Not only is this illegal, but this ruins their chances of having anyone work with them. There are ways you can check someones authenticity and that includes putting their @ name in a engagement generator and followers generator to see if they are charging the right amount.
There are free engagement calculators, my favorite is by The Influencer Marketing Hub.
It looks something like this:
Tasemadehome is a global community for home and design lovers according to their bio. As you can see above, since they have over 200,000 followers their engagement is lower. It’s common to have a lower engagement with a lot of followers. The average engagement rate is about 3%.
If you were to ask them to advertise your product, they would most likely charge around $707.25-$1,178.75 a post, depending on what type of post it is.
To check to see if their followers are real, you can go to Fake Follower & Audience Credibility Checker
It will end up looking like this:
A quality score higher than 50 indicates that the they are legit and most likely gained their following organically. See below explained by Influencer Marketing Hub:
Another way to spot fake followers is by looking at their follower count and comparing it to their number of likes and comments per post. If you’re looking at someone’s page and they have over 11,000 followers with only 100 likes and a couple comments, chances are they bought majority of those followers & they are fake.
Why use influencer marketing?
Influencing marketing, as mentioned above, is a new way for businesses to get direct exposure without putting in tons of work & money trying to find your demographic because the influencer already has the audiences best interest.
Before contacting an influencer make sure you have a plan on what exactly you want them to say, if you give them the opportunity to come up with the ad themselves they may not hit every aspect of your store or product that you want to be mentioned.
If you don’t have the funds to hire someone with millions of followers you could always start off with someone who is a micro influencer which is usually someone with 1000-6000 followers. They charge cheaper than the mega influencers and their engagement rate tends to be 10x better than someone with millions of followers.
Hope to see your product on my feed soon!