Given that influencer marketing is now the hottest new trend in the marketing space currently, all top brands are using this method to reach their potential audience. However, just like any new trend, brands have plenty of questions about how it works and how to go about creating an influencer campaign. Keeping this mind, we have put together a list of frequently asked questions about influencer marketing
What is Influencer Marketing- How does it work?
It is a strong word of mouth marketing strategy. For a brand, a digital influencer is someone who could help increase the business of the brand and help spread an organic word of mouth in the influencers circle in exchange for monetary benefits or providing free products/services.
A brand collaborates with an influencer on social media or via their blog to promote a product or service on a specific online channel. The strategy involves content creation & amplification across various social media channels including Twitter, Instagram, Facebook, YouTube or Linkedin.
There used to be a time when brands turned to big celebrities for product endorsements. Influencer marketing is the digital version of that, except celebrities in this case are social media peers or bloggers with significant following and reach.
Many a times before purchasing a particular product, a consumer turns to his/her peer for an opinion on the product. The brand collaborates with Influencers because the influencers have the power to influence the decision-making of their following. Influencer marketing is turning a lot of heads because the advertising landscape has undergone a substantial transformation. With increased number of users using Ad Blockers and reduced traction from display advertising, influencer marketing and peer to peer word of mouth is becoming critical.
How do I identify the right influencer for my brand?
Influencers are broadly divided into 3 categories – Key/Celebrity Influencers, Social Influencers and Peer Influencers. Key Influencers include celebrities, industry thought leaders and leading bloggers. Social influencers are individuals with significant online influence like social media celebrities. Peer Influencers are closest to the consumer circle like – family, friends, colleagues. This is a very relevant circle and closest to the conversion funnel. The influencers typically focus on a particular area like food, parenting, fitness, fashion, E Commerce or technology. Relevant influencers are usually shortlisted based on the brand, its business and the marketing objective. Depending on the target audience, geography and demographics the right set of influencers are chosen. For Eg – A new restaurant looking to launch an influencer campaign will engage with food bloggers who can help them cover their brand on blogs and social media channels. Social and peer influencers work the best for contest based on twitter or facebook to help create a buzz about the brand.
How are Influencers shortlisted?
Depending on their channels and reach influencers, our platform shortlist based on the following metrics-
MOZ Domain Authority- It reflects the popularity of the blog. It represents the importance of the web page on the internet. A good MoZ rank is between 25-39.
Quality of content – The quality of the content is very crucial. The right quality of content can inspire the audience to take the right action.
Unique visitors to the Blog – In addition to the page views and traffic that a bloggers draws to his website, Unique visitors help spread the brands story to the target audience. Size and quality of followers is an important metric to consider while shortlisting.
Relevance to the brand – It is very important to pick the relevant blogger for the relevant campaign. The relevant blogger helps pushing the brand message to his target audience.
Pervious work – This gives you a sense of the bloggers work. Previous performance data like – social media engagement, likes on their blogs, shares help you narrow your choice.
Why should I choose Influencer Marketing over Paid Ads or other form of advertising?
Influencer marketing helps in positioning your brand to the right target audience. It helps in brand visibility and in achieving final business objectives. A brand talking about itself is not convincing to consumers anymore! Influencer marketing is a third party validation. When a customer or an external party reviews the product or service on his/her blog, the content lasts forever vs paid ads which have a shelf life. It helps drive sales through genuine word of mouth. Quality backlinks also help in the SEO strategy and enhance the reach on social media.
What Is the ROI I can expect through Influencer Marketing?
This is the most often asked question by brands. Influencer marketing helps in brand building, loyalty, social media engagement and in the mid to long term even helps in growing sales and revenue. In the short term, brands should not expect a large spike in the transactions due to Influencer marketing but can expect authentic word of mouth with their target audience. Apart from creating amazing content, influencer marketing helps in driving traffic to the website/app, social media engagement- shares, likes, links to the article, total impressions, higher ranking through quality backlinks(SEO), growth in organic traffic and eventually sales/leads
There are no free lunches. Influencers are compensated for the campaigns in either monetary terms or free samples/service/products depending on the business and campaign. The costing varies and is discussed with the influencer one –to-one. Some established Influencers have their media kits and their prices are non-negotiable while some are happy to negotiate and establish a long term relationship with the brand. Gift vouchers, free samples, access to the service/product include non-monetary benefits extended by the brands to the bloggers. The premium category of bloggers usually expect monetary compensation in addition to the free samples.
We Hope we have motivated you to launch your campaign and get influencers to cover your brand!
De-mystifying Frequently asked Questions about Influencer Marketing
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