Social media marketing is constantly changing, which has allowed influencer marketing to be become a key advertising method.
What is an Influencer?
An influencer is someone that sways your audience to follow certain trends and there purchase intentions. Celebrities were the original influencers, however due to the increased use of influencer marketing, different categories have been established.
- Mega-Influencers are the celebrities that have a massive following on social media platforms generally over 1 million followers. These individuals have normally achieved fame in a different aspect of their life such as acting.
- Macro- influencers have less followers, however the majority are celebrities but generally have careers in areas such as reality TV that appeal to smaller audiences.
- Micro-Influencers have less followers around a few thousand and are the influencers of the future as there following is still growing.
- Nano-Influencers coincidentally have even less followers, however they tend to operate in a specialised niche.
Influencer Marketing for Business
Influencers can help to increase brand awareness and reach in certain target markets. This is achieved due to certain influencers having a global audience, therefore sponsored posts are exposed to a larger pool. Social media posts can also be shared allowing for further reach than just the influencers followers.
Influencers can help achieve more than just brand awareness as they can increase brand engagement and product sales. This is as society views influencers as their friends, therefore trust their opinion. For hospitality outlets using influencers can be more beneficial than using industry experts as people have more confidence in influencers opinion as they view it as genuine. Customers also seek opinions and validation on social media for their purchase decisions. Therefore influencers play a key part in digital word of mouth as customers look for opinions from sources they respect.
Influencer marketing is accessible to most businesses as the less followers the cheaper the sponsored posts are. Hence businesses with a smaller marketing budget can still utilise this method. However, you may be under the misconception that more followers means more engagement. This theory is mostly true although the followers of Mega- influencers generally are not as invested. Therefore using Nano-Influencers can be more effective as they usually have a more engaged audience due to them operating in a niche. Another aspect effecting the cost of influencer marketing is the price of the item being marketed, as higher priced items normally have greater advertising fees.
Unlike traditional advertising methods conversions and engagement can be tracked directly to the influencers. Click- through can be track to assess how many individuals complete the action you intended them to take. Cost-per-click is another metric that can be used to determine how much it costs for each click. Therefore traffic generated by an influencer can be tracked allowing for return on investment to be established.
The advancements in social media platfroms has allowed for an increase in short videos, permitting for more creative content. For skin care brands influencers can create short videos of their skin care routine increasing engagement for customers. To further this consumers view video content as more trustworthy and reliable generating a stronger relationship with the brand and influencer.
Overall there are different types of influencers allowing for the majority of organisations to tap into this marketing channel. Influencer marketing can benefit a business as brand awareness and engagement can be increased. To further this a greater reach can be achieved by implementing influencer marketing into the business strategy allowing for increased profitability. Influencer marketing also builds stronger relationships between customers and brands increasing repeat purchase intention.