Influencer marketing is all the rage these days. It’s an age-old tactic – essentially word-of-mouth referrals – revived in recent years through the explosive growth of social media and hashtags. On the surface, modern influencer marketing strategy is basic: get famous (read: influential) people to promote your company’s products or ideas. Basic, but with a big price tag. And most brands don’t have thousands of dollars to spend on a few tweets or #sponsored Instagram posts, let alone thousands more to invest in a robust and/or ongoing campaign.
Let’s redefine influencer marketing as a macro trend with a micro strategy.
Celebrity influencers may have lots of followers, but they miss the mark when it comes to conversion. In fact, according to Hello Society, the ratio of likes and comments to followers peaks when an account has around 10,000 followers. Get hundreds of thousands of followers and engagement starts to flatten out; users just aren’t as keen to interact with a celebrity as with someone they can relate to more closely.
Micro-influencers, or those with 10,000 to 100,000 followers, are increasingly delivering more value per marketing dollar. Here’s why: they are personally invested in their crafts and are trusted sources of recommendations. And at the end of the day, the influencer game isn’t just about eyeballs on your content, it’s about getting those eyeballs to believe and care.
It’s a fact that customers trust their friends, families and social networks more than what they read in the media or on your website. However, the millions of people who follow the Kardashians likely don’t really believe the sisters’ praise for everything from fat-burning tea to gummy vitamins for healthier hair. It’s an extreme example, but the point is this: celebrities have the power to amplify your brand, but it’s short-lived. Micro-influencers promote products and services in more authentic, organic and enduring ways.
Strategy is everything.
One-off efforts that aren’t rooted in or backed by strategy aren’t going to make an impact. Period. Ongoing relationships with respected, well-connected industry influencers, on the other hand, will. These are the people who have the ears of decision makers – the people who have the power to buy what you’re selling. They have engaged, devoted audiences who listen and act. Take SAP, for example. Its Audience Marketing team partners with esteemed authors, academics and consultants. They attend the company’s annual conference, where the SAP team live-streams interviews with them and then promotes the content via social and other marketing channels. The influencers help generate buzz around SAP events and keep the conversation going long after. But you don’t need to be a large corporation to do something similar – and equally valuable – for your brand.
Influencer marketing strategy can be powerful – if you leverage it the right way.
While modern influencer marketing is still emerging, marketers have long leveraged influential people to help sell products and services. What’s new is the usage of social media and the internet, which give more people an opportunity to influence, as well as easier ways to engage.As trust in media and companies continues to dwindle, the value of micro-influencer marketing will rise.Click To TweetAs trust in media and companies continues to dwindle, the value of micro-influencer marketing will most likely keep rising. So don’t overlook the capacity to influence the customer journey, which ranges from awareness to lead generation to sales to advocacy.