What is the definition of an influencer?
Influencers are someone with a large, engaged following (typically on social media) with the capacity to persuade them to take action.
What is influencer marketing and how does it work?
Working with influencers to promote your brand’s message, products, or services is known as influencer marketing.
What is the purpose of influencer marketing?
Influencer marketing is beneficial for a variety of reasons.
1. Persuade their target audience to act.
Your target audience is influenced by influencers. It’s right there in the name: they have sway. This means they can motivate their audience to take action. The most important thing is to buy.
2. Establish your brand’s credibility.
It’s not always about revenue when it comes to influencer marketing. It’s also about brand recognition and reliability.
The products that the proper influencer recommends are carefully curated. They don’t promote everything that comes their way. They have high expectations, even if they are compensated. They value the trust placed in them by their community.
When an influencer promotes your product over others, they’re vouching for you, the quality of your product, and the reputation of your brand. You’re basically borrowing that influencer’s “trust.” You don’t have to start from scratch since they trust the influencer, and hence you.
Consider the case of Nike. They were almost unknown in the basketball world in 1984. No basketball enthusiast was desperate to get his hands on a pair of Nikes. Jordan’s support, on the other hand, led to their acceptance.
And Nike went from obscurity to global supremacy in basketball.
Influencers of many types
In general, there are five different sorts of influencers. They’ve been divided into groups based on the magnitude of their audience.
Understanding the various types of influencers will assist you in planning your budget and strategy. Here’s how it works:
1. Famous people
These are influencers who have a following of over a million people.
BTS (Broadcast Television Stations) (IG: 47.1M followers)
Messi, Lionel (IG: 242M followers)
Zendaya is an actress that is well-known for her (IG: 102M followers)
Charli D’Amelio is a model and actress. (TikTok has 121.8 million users.)
Linus’s Tech Advice (YT: 13.7M subscribers)
Mega-influencers are the second type of influencer.
Influencers with 500,000 to one million followers fall into this category.
Mark Manson is a member of the Manson Family (IG: 762K followers)
Clear, James (TW: 530K followers)
Macro-influencers are those who have a large impact on the economy.
Influencers with 100,000 to 500,000 followers fall into this category.
Elisabeth Akinwale is a Nigerian actress (IG: 115K followers)
Botes, Lindie (YT: 276K subscribers)
Micro-influencers are people who have a small amount of power.
These are influencers with a following of 10,000 to 100,000 people.
Tim Soulo is a musician from the United States (TW: 27K followers)
Patrick Stox is a character in the film Patrick Stox (TW: 12.9K followers)
Yoga Jyan (IG: 23.8K followers)
Influencers with 1,000 to 10,000 followers fall within this category.
Hardwick, Joshua (TW: 7.4K subscribers)
Mariidix is a fictional character created by Mariidix (IG: 5.5K followers)
SIDENOTE. These phrases, as well as their audience sizes, have no common definitions. You could notice that they are not the same as other books and articles.
What is the best way to develop an influencer marketing strategy?
You need a strategy before you start looking for influencers and working with them. After all, the goal isn’t to work with every influencer on the planet; it’s to work with those who can make a difference.
1. Determine who you want to reach.
It may sound wonderful to have Justin Bieber promote us to his fans, but what good does it do us? There is really little overlap between Justin Bieber followers and people looking for SEO tools. It wouldn’t make sense to cooperate with him even if we could afford his asking price.
As a result, determining who you want to reach is the first stage in any marketing strategy.
You’re good to go if you already have a marketing strategy in place that specifies your consumer personas. You’ve already figured out who your target market is.
If you’re a financial advisor in Singapore, for example, it might look like this:
Millennials in Singapore (ages 23–30) who wish to start investing.
Don’t worry if you don’t have a concrete consumer persona statement like this. There are numerous tutorials, templates, and even tools available to assist you in creating one.
2. Define your goal
We need to figure out why you’re doing influencer marketing now that you know who you’re targeting.
What are your objectives?
In general, there are three goals to achieve:
Raising brand awareness and introducing your company to new clients.
By teaching potential customers more about their problems and how your product or service may solve them, you can pique their curiosity and desire.
Encourage clients to buy by teaching them about your product or service and why it is the best answer for them.
To determine whether your campaign is successful, you’ll need to know what your goals are.
3. Make a financial plan.
The type of influencer you may work with and the type of content you can develop will be determined by the amount of money you’re ready to pay.
Knowing your budget ahead of time can make finding influencers much easier.
4. Define your key performance indicators (KPIs).
Although measuring the absolute ROI of influencer marketing efforts is difficult, you can use Key Performance Indicators to calculate relative ROI (KPIs).
KPIs allow you to track your progress toward your goals. You’ll know what these KPIs are if you’ve already set your goals. If you’re keeping track of sales, for example, you could give the influencer a discount code that includes their name.