It’s no secret that the key to success in marketing campaigns nowadays lies in one word—authenticity. Fewer and fewer consumers (especially if they’re on the younger side) are buying into traditional, hard-sell tactics that have run the advertising world for almost a century. Instead, brands are increasingly relying on influencer marketing to appeal to drive brand awareness while exposing a company’s human side. From traditional posts to Instagram stories and long videos, influencers are constantly finding new ways to sponsor brands while still connecting with consumers.
What is Influencer Marketing?
Influencer marketing is a way for brands to promote their products through endorsements or recommendations from “influencers”, or content creators, on social media platforms. Essentially, an influencer is someone who has the following:
The power to affect the purchasing decisions of others because of their authority, knowledge, position, or relationship with their audience
A following in a distinct niche of some sort, with whom they actively engage
Influencers are typically paid a fee by a brand for their endorsement, which is shared to their followers via personal blogs, social networks, collaborations, and even events.
Are There Different Kinds of Influencers?
Oh absolutely. Here’s a general breakdown of the different kinds of influencers out there.
Mega Influencers: These kinds of influencers have more than one million followers. This is where big celebrities, athletes, public figures, and social media icons rule the roost. The biggest advantage of working with these kinds of influencers is their reach and their ability to successfully drive high-visibility marketing campaigns. The biggest drawbacks of these kinds of influencers? They’re ridiculously expensive, for one. Also, since they have so many followers, it can be really challenging to appeal to a specific audience with these guys. In other words, quality leads and conversions are not always guaranteed. Oftentimes, these campaigns reap rewards when it comes to brand recognition.
Macro Influencers: These influencers have a follower base that stretches from 100,000 to one million. These are typically well-known content creators of some kind. From podcast hosts to Youtubers or even minor celebrities. They’re seen as leaders in their respective fields of interest—think wellness to cooking, travelling to athletics. If you have a substantial budget and are looking to spread brand awareness (while still trying to avoid paying the mega influencer price tag), these influencers may be your best bet.
Micro Influencers: These are people that have 10,000 to 100,000 followers. Micro influencers are known for their extensive knowledge in specific, niche areas while still maintaining a strong human element with their followers since they haven’t yet attracted a generic audience. They typically work with small to medium sized businesses and brands and are known for their high engagement numbers and active presence on their social media platforms.
Nano Influencers: These influencers have anywhere between 1k and 10k followers. While they have the lowest number of followers of the pack, they are still super impactful! These creators work best with small, local businesses who are looking to appeal to a very, very specific audience. If you’re looking to appeal to a highly targeted audience and are in the market for high engagement numbers at a low cost, nano influencers are the way to go.
How Effective is Influencer Marketing?
Now we’re getting into the important questions. In today’s rapidly evolving social media world, there’s one thing we know for sure—influencer marketing works. Why? Well, influencer marketing is (essentially) the 21st century version of word-of-mouth marketing. While display ads do resonate with some consumers in some markets—like live sports television, for example—as a whole, influencer marketing is crushing display advertising by driving more value and higher ROI.
Let’s crunch some numbers, shall we?
In 2021, roughly 58% of marketers said influencer marketing was the most effective marketing trend, ahead of SEO, experiential marketing, and short-form video content.
80% of marketers say influencer marketing is effective, and 89% say it works just as well (if not better) than other marketing channels.
71% of marketers say the quality of customers and traffic from influencer marketing is better than other sources
Yep, you read that right. Unless you want your company to be left behind, it’s time to start exploring your options for influencer marketing. Especially if you’re in an industry that revolves around selling experiences (we’re looking at you, folks in the travel, restaurant, beauty, and wellness industries!), we think it’s well worth it to invest time and resources in finding an influencer or two to help represent your brand.
The Future of Influencer Marketing
Influencer marketing is here to stay, there’s no doubt about that. In fact, we believe that influencer marketing has officially shifted from a marketing trend to a commonplace marketing tactic. While it may not always fit in every brand’s marketing strategy, influencer marketing can take many brands to new, exciting heights.
At Red Egg Marketing, our clever marketing strategists make it their business to keep up with the latest and greatest trends in influencer marketing to create the freshest, most current marketing strategies possible for our clients. If your small business is interested in learning more about influencer marketing and whether it’s right for your brand, give us a call at 720.782.0597 or send us a quick message at email@example.com.