Determining whether or not Influencer Marketing is right for your brand can fill you with a lot of confusion, especially if you don’t pay attention to the key indicators. Brand awareness is critical to the success of every business—both big and small. After all, people are likely to buy products from a brand they know. However, building brand awareness usually does not happen overnight. Brand awareness begins with selecting the most appropriate marketing strategy. Influencer Marketing is one of the most powerful ways to increase brand awareness.
Influencer Marketing is a marketing strategy that uses endorsements and product mentions from social media influencers. They are people who have a loyal following on social media platforms (e.g., Facebook, Twitter, Instagram, YouTube) and are considered as experts within their niche (e.g. beauty, health and fitness, games, travel). Want to learn more about Influencer Marketing? You can start with knowing when and how to use influencer marketing.
How Can Influencer Marketing Increase Brand Awareness?
Word of mouth marketing has been an effective strategy of promoting products and/or services since the dark age. Influencer Marketing is the modern form of traditional word of mouth marketing. The significant difference is that Influencer Marketing can accurately measure audience response through various indicators, such as likes and shares.
Influencers are effective in increasing brand awareness because:
1. They have a loyal follower base.
People typically like to follow social media accounts, especially those of complete strangers, if they find the content relatable, inspiring, and interesting. Influencers who have high engagement on their posts usually post authentic content—whether or not the content is sponsored. Due to the authenticity of the content shared, the followers begin to trust what the influencer shares and become influenced to buy the product.
2. They come up with creative ways to make your brand more attractive.
Most, if not all, traditional celebrities do not get involved in marketing. They often rely on scripts when doing commercials. In contrast, influencers get involved in marketing. Apart from conventional advertisements, such as commercials and poster ads, influencers also think of other ways to promote brands online. Influencers go with what is trendy in the digital realm. An excellent example is creating unboxing videos. It may sound easy, but it actually requires artistry and critical thinking. Influencers are constantly thinking of ways to authentically share products they care about in order to influence you to purchase the product and share in the love of the product.
How Will You Know If Influencer Marketing is Right for Your Brand?
The marketplace in the United States is overwhelmingly crowded and competitive. In 2020, the number of small businesses alone in the country reached 31.7 million. To stand out from your competitors, you need a strong marketing strategy. Several businesses are reaping the benefits of Influencer Marketing strategies. However, Influencer Marketing can only work exceptionally well if it is a suitable marketing strategy for your brand. If not, your time, efforts, and money will go down the drain.
Influencer Marketing is right for your brand if:
1. You have a social media presence.
Your Influencer Marketing strategy will most likely be successful if you have an existing social media presence. What does it mean to have a social media presence? Your social profile is already set up. Meaning to say, you have a well-curated bio, a loyal following (does not need to be huge), and a few pieces of content.
2. You need quality content.
Content quality is a critical component in the success of your Influencer Marketing strategy. No matter how many posts you make on your social media accounts, they will not work if they are not in line with your brand’s purpose. If you are selling cosmetics, Influencer Marketing can help grow your brand through partnering with beauty influencers.
3. You have the budget for it.
Of course, budget is a big consideration. Just like other marketing strategies, you need a budget to carry out your Influencer Marketing strategy. Rates differ depending on the kind of influencers and campaigns you choose. Obviously, influencers with millions of followers are more expensive than influencers with hundreds of followers. In the same line, advanced-level campaigns are also more costly than beginner-level campaigns.
4. You want to gain people’s trust.
Trust is a significant factor in a person’s purchasing decision. Influencers can make people trust your product or service offerings. As mentioned, people highly regard the recommendations of influencers because they consider influencers to be experts in their niche. In other words, influencers act as a trustworthy source of information for your target audience.
5. You are in it for the long haul.
Influencer Marketing is not an overnight success! It may take weeks, months, and even years to see positive results. However, one thing is certain. A long-term Influencer Marketing strategy is effective because it gives your brand exposure. The longer the exposure, the more likely that your brand reaches your target audience.
Which Type of Influencer Is Right for Your Brand?
Influencer Marketing does not come in one form. Its types depend on the kinds of influencers. They are as follows:
1. Nano Influencers
They have 1,000 to 10,000 followers on their social media accounts. Nano influencers may have a lower reach than other influencers, but their followers are loyal and highly engaged.
2. Micro Influencers
They have 10,000 to 50,000 followers. Micro influencers may not be as famous as celebrities, but they can give your brand more exposure. Due to their “relatableness,” followers tend to try out their recommendations.
3. Mid-Tier Influencers
They have 50,000 to 500,000 followers. Mid-tier influencers do not only give your brand more exposure, but they also provide positive return on investment (ROI).
4. Macro Influencers
They have a broad audience, which ranges from 500,000 to 1,000,000. Macro influencers are deemed highly cost-effective due to their wider reach and ability to maintain a down-to-earth vibe.
5. Mega Influencers
They are composed of celebrities. Mega influencers have over a million followers, thanks to their established popularity. Despite a vast following, other influencers may be more cost-effective. Unlike their non-celebrity counterparts, celebrity influencers often do not give off a relatable and authentic vibe.
Find it hard to decide? Click here to identify the right influencers for your brand.
Wrap It All Up
One of the notable benefits of InfluencerMarketing is increased brand awareness. Influncers’ follower bases and creative ways of marketing ideas can make your brand known in different places. However, you can only reap the benefits of Influencer Marketing if you:
- have an existing social media presence;
- need quality content;
- have the budget;
- want to gain consumers’ trust; and
- are in it for the long haul.
Depending on your budget, target audience, and product or service offerings, you can partner with:
- nano influencers;
- micro influencers;
- mid-tier influencers;
- macro influencers; or
- megal influencers.