Influencer MarketingJun 02, 2021
How Much Influence Do You Hold?
The phrase "Keeping up with the Jones" has long been used to describe the phenomenon that we as humans want what others have. In modern terms, we might call this F.O.M.O. (The fear of missing out). These concepts have led to the rise in Influencer Marketing.
After all, why would we want to be left out of the hot new trend and miss out on something great?
Marketers have taken this and turned it into something they can use to their advantage. Influencer Marketing.
What is Influencer Marketing?
Social media has become one of our greatest assets in marketing. You can reach people you may never have been able to reach before. This goes for the average Joe as well, who may be an influencer.
An influencer is someone who utilizes social media to grow their personal brand. An influencer has a large audience (usually on social media) in a specific niche. They are someone people listen to and follow. Their audience relates to them in some way, and in turn, respects their opinion.
Anyone can become an influencer, as long as they have something to say that people relate to or believe in. Companies leverage this connection by partnering with influencers to test their products, spread their message, and in turn, grow their own audience.
Companies Using Influencers
Influencers have taken the idea of Keeping up with the Jones’ or F.O.M.O. and use it to help companies sell their products or services. Business Insider says that businesses are set to spend upwards of $15 Billion dollars on influencer marketing in 2022. And this number has grown exponentially from only $8 Billion in 2019. That’s almost double in only three years.
Finding the Right Fit
How do you choose an influencer that’s right for your brand? Influencers are generally split into two categories: reach and niche. You can choose someone who can reach the maximum number of people. Or, you can choose someone who fits into a niche audience that matches your customer persona.
Niche influencers may post something about a specific topic in their posts that serves a particular audience, such as real estate agents who focus on investment properties or older women who want beauty tips. Oftentimes, brands go with a niche influencer to share about their niche product / service when they are struggling to reach that narrow customer persona.
The influencer you pick needs to genuinely enjoy the product or service you offer. If they don’t believe in it, the audience will see right through them and won’t believe in it either. It is best to select more than one influencer to maximize your reach potential.
Measuring Results with Influencers
Overall, there is no right way to select an influencer. It’s like buying a new pair of jeans. It may take a few tries to find what fits you best. You may need to work with a few different people and adjust based on results.
Things you can measure are:
- Total Audience Reach
- Website Traffic to Specific Landing Pages
- Post Engagement
- Opt-Ins / Purchases (using a tracking link or discount code)
This industry has boomed along with the growth of social media, and it’s only projected to go up from here. With social media influencers, you not only reach your current followers but also your influencers audience as well. This can double, triple, or even quadruple your reach based on how many influencers you choose to work with.
The better quality and higher frequency of your posts seen by someone consumers trust, the greater the potential for a new customer. Personally, I see a minimum of 5 influencer ads a day, and that’s just an estimate. This is an easy marketing tactic that expands a company's reach in a deeper way.
Are you Keeping up with the Jones’?
Guest Author Emma-Kathryn Fitzgerald
A recent graduate of the University of Southern Indiana, Emma earned her B.S. in Public Relations and Advertising. She is passionate about Public Relations, Content marketing, event planning, and social media