Should I be using influencers to promote my business?
Influencer Marketing – Are you wondering what all the fuss is about and whether you should be working with influencers to promote your brand?
A good digital marketing strategy involves elements of paid, earned and owned media and working with influencers comes in under ‘earned’. It’s the ultimate form of word of mouth and is basically celebrity endorsement … although the definition of ‘celebrity’ has evolved somewhat in this context (that’s a whole other conversation!).
Whether or not it is right for your business depends on your product or service and who your target market is. Is your key demographic active on social media and who and what they are interested in? Products that fall into the ‘fast moving consumer goods’ category as well as beauty, fashion and tourism work well on social media and are often promoted by influencers. That’s not to say other products and services won’t work however. Do your research within your market, have a look at what your competitors are doing and research people in your industry with large followings on Facebook and Instagram. It helps if your business has an active social presence as well.
While influencers with huge followings (think 100K+ followers) charge anywhere from $1500 – $2000 for posts and stories promoting your product, other influencers that are ‘up and coming’ will likely charge less but still get your product in front of large numbers of people. So it might make sense to work with a number of these influencers with say 20k or 40K followers to make your budget go further.
The key is making sure that the influencer you are working with aligns with your brand values and is followed by the type of people you want to sell to. What do they have to say and why would your ideal target market be interested in it? How ‘valuable’ is the influencer’s opinion – are they authentic?
Also make sure that you have a contract or some kind of written agreement in place before you giveaway your products. You need to be certain of what your business will get out of the arrangement.
The world of social media and influencer marketing is not going anywhere and it is a growing industry. Be a switched on marketers & business owner and look at how best to employ an influencer marketing strategy to create success for your brand.