Introduction
Influencer marketing has emerged as a powerful business strategy to build brand awareness and drive customer acquisition.
It's creating more opportunities for brands to engage with their target audience than ever before. Influencer-created content can stand out on social media platforms, such as TikTok or Instagram, helping brands reach niche audiences that wouldn’t usually engage with their marketing efforts.
Don’t believe me? Well, look at this study from 2023, which found that although just 1 in 4 marketers leverage influencer marketing, it has the 2nd-highest ROI of any marketing trend.
Plus, the industry is expected to multiply, with 17% of marketers planning to invest in this type of content generation for the first time in 2023.
Looking to get started with influencer marketing?
You’ve come to the right place – as this article introduces the world of ‘influencing’ and the dynamic content it can generate. So, whether you're a small business owner looking to expand your reach or a marketing leader seeking innovative strategies, explore effective strategies for finding Instagram influencers to enhance your outreach, with research-backed insights to help you make the most of this powerful marketing approach.
Benefits of influencer marketing
Influencer marketing offers numerous benefits for brands. By partnering with influential individuals and key opinion leaders, businesses can leverage their influence and authenticity to create meaningful connections with their target customers.
Of course, this fragmented marketing style will also require extensive planning in the build-up to its launch. You may find that an ERP software solution is perfect for coordinating these workflows and working collaboratively since all team members will have access to the data they need.
It can also be great for measuring the success of an influencer campaign as it gives you an overarching view of your business, and so you can monitor how the campaign has had an impact.
With that in mind, let’s explore the benefits of influencer marketing in detail:
Cost-effective
Influencer marketing offers a cost-effective solution for businesses looking to maximize their marketing budget’s return on investment. Compared to traditional advertising channels, influencer content targets specific niche audiences with an acutely personalized approach.
By partnering with influencers, brands can tap into their existing engaged audience and benefit from their already-established trust. For example, a small skincare brand could collaborate with a beauty influencer in a promotional product demo, reaching an audience more likely to convert into paying customers.
Boosts credibility & authenticity
One of the key advantages of influencer marketing is its ability to connect with audiences that already trust the account from which its being posted.
After all, influencers have built their reputation on the basis that they have been able to successfully present themselves as a trusted voice within their industry. In other words, they’ve already done the leg work for you!
So, an influencer’s endorsement of your product is a great way to impact consumer perception of the quality of your brand. The great thing here is how much freedom you have to highlight the unique selling points of your product line.
For example, let’s say you’re a fitness apparel brand collaborating with an influencer who has a large following of people who enjoy their fitness tips and workout regimes.
You could ask them to highlight the unique benefits of your clothing, such as the quality of materials or its value for money (such as a limited-time free delivery option), plus a lot more.
The result is a validation of your brand in the eyes of potential customers, leading to more sales conversions.
Reaches new audiences
Influencer marketing provides a unique opportunity for brands to expand their reach and connect with new audiences. Not only is it posted to pre-built communities around relevant topics to your products, but there’s also the chance of this content going viral and reaching more viewers.
For example, a sustainable fashion brand collaborating with an eco-conscious lifestyle influencer can effectively reach environmentally conscious consumers who may not have been aware of the brand otherwise.
As for where you post this content is up to you. According to Influencer Marketing Hub, TikTok is now the most popular influencer marketing channel (used by 56% of brands), ahead of Instagram (51%), Facebook (42%), and YouTube (38%).
You should also bear in mind that different platforms attract different kinds of audiences. For instance, while TikTok is great for visibility among teenagers and young adults, Facebook can tap into a wider audience, and LinkedIn is perfect for connecting with working professionals and businesses.
How to use influencer marketing in your content strategy
Follow these ideas to leverage influencer marketing effectively:
Partner with micro-influencers
Influencers come in a variety of categories based on the size of their following – such as nano, micro, and macro influencers, right the way up to celebrities and key opinion leaders.
Nano influencers typically have a small but highly engaged community, often consisting of a few hundred followers. They can be used by small local businesses who want to grow their awareness in their community. That said, most brands would typically look for accounts with larger followings than this to market their products.
Micro-influencers, on the other hand, have a larger following in the range of a few thousand to a few hundred thousand followers. While macro influencers and celebrities may have millions of followers, micro-influencers are best for connecting with a specific target audience while providing excellent value for money.
Their smaller but engaged audience allows for more meaningful interactions and a higher likelihood of resonating with your brand's target market. By partnering with micro-influencers, you can tap into their niche communities, fostering trust and driving conversions.
Encourage influencers to create user-generated content
User-generated content resonates with audiences because it seamlessly blends into their regular feed alongside organic content. It doesn't immediately appear as an advertisement, meaning viewers won’t click off the screen and are more likely to latch onto your content’s ‘hook’.
Some examples of user-generated content that you may want to produce include:
- Vlogs.
- Product reviews.
- Tutorials.
- Unboxing videos.
- Testimonials about your company.
This type of content allows influencers to showcase their genuine experience with your brand and products, building trust and awareness with their audience.
Utilize influencer takeovers
Influencer takeovers are a powerful way to leverage the influence and creativity of social media influencing. This strategy involves giving influencers temporary control of your brand's social media account to create and share content.
It allows the influencer to engage with your audience, providing a fresh perspective and generating excitement. During a takeover, the influencer can share behind-the-scenes footage, conduct live Q&A sessions, offer tutorials, or make exclusive announcements.
This experience is intended to be immersive, not only captivating your audience but also encouraging them to reach out to your brand by leaving comments and sharing with their friends.
When done correctly, influencer takeovers build anticipation, drive engagement, and increase brand visibility, ultimately leading to a stronger brand-consumer relationship.
Implement influencer affiliate marketing programs
Affiliate marketing is a performance-based marketing strategy where influencers earn a commission for each sale or conversion they drive to your brand. It provides a win-win scenario, as influencers are motivated to promote your products and only pay when you've generated revenue.
This model requires a lower upfront investment and allows you to track the effectiveness of each influencer based on their conversions, providing valuable insights for future collaborations. You may want to explore using it alongside your other ‘pay-per-conversion’ marketing efforts.
By implementing an accounts payable solution, you can simplify the financial aspect of your affiliate marketing programs. For instance, this software can help track influencer commissions that you’re paying and automate invoice processing – ensuring influencers always receive timely payments for their contributions.
Involve influencers in the content creation process
By inviting and onboarding influencers into your content creation work plan, you can reap the benefits of their expertise and creativity. Collaborating also fosters a long-term relationship, allowing influencers to provide valuable input, co-create content, and showcase their unique perspectives.
Involving influencers in the content creation process enhances authenticity, increases engagement, and strengthens the partnership. For example, consider the “Air Jordan” collaboration between Nike and Michael Jordan, which has driven revenue growth and brand recognition for both parties since 1984.
Whilst Michael Jordan is certainly more of a ‘key opinion leader’ than an ‘influencer’, the point stands that influencers can make their brand a part of your brand by lending their creative input.
Final thoughts
Influencer marketing is nothing short of a marketing revolution for how brands can connect with their audiences. With its ability to harness the power of trusted individuals and thought leaders, influencer marketing has emerged as a dynamic strategy for small businesses and entrepreneurs to break into the limelight.
If you want to stand out from the competition, learning how to leverage influencer marketing is a great way to future-proof your marketing efforts and deliver better value for money.
Whatever topic or product you intend to produce content for, one piece of advice remains the same – that you should constantly be prepared to pivot if something isn’t working.
As such, you should take the time to periodically review the performance of your influencer marketing content by monitoring key performance indicators, such as click-through rates and sales conversions. This way, you’ll be able to make informed decisions and be better placed to guarantee your success!
