On February 22, 2019
Navigating the world of hashtags, geo-targeting, and the trending social climate, changes with every new wave of customer-driven fads and big-business campaigns. The reach of social influencers is growing like wildfire, spreading into every industry, leaving no spot untouched. The role of social influencers in marketing is predicted to expand so vastly by 2020 that you can’t afford to not use them as a tool in your arsenal.
Currently, a multi-billion dollar industry, influencer marketing is a neologism used to describe whenever a popular online figure is paid to promote a product or service within their social media feed. Spend any time on Instagram or YouTube, and chances are you’ll encounter these stylish, photogenic influencers who hawk clothes, makeup, and nutritional supplements, often with a #sponsored hashtag placed somewhere prominently within the post’s description. The industry has grown rapidly in recent years and is projected to generate as much as $10 billion by 2020. As more and more brands have waded into the market, demand for influencers has gone up.
So, how do you harness the seemingly ever-growing power and reach of social influencers to bolster your brand? The answer is a complicated, but necessary, layered approach. The rules and regulations have to be followed to a T, so getting into a partnership with an engaging influencer is more than just handshakes and promises — it’s knowing your brand won’t be hit with fines or any setbacks.
Finding the Right Fit
Finding the right influencer for your brand can be half the struggle. That’s why companies like Traackr have designed systems to help piece your brand’s puzzle together. Going through an already filtered system gives you the chance to hone in on your targeted demographic and geo-centered message, making your campaign that more potent.
This new social fabric affects how people relate to and involve themselves with brands, ultimately enabling them to be more than just buyers. Brands set to succeed in this new environment have acknowledged the fundamental retooling and transformation already underway. Thus, they have made strides to value their community, and in turn become valued members.
The Cost of Doing Business
Cost is also another determining factor for which social influencer you’ll be partnering with. Determining a budget, researching similar campaigns, and sticking to what you’ve monetarily allocated, allows expectations to be managed. Start by checking out micro-influencers that might have a relationship within the geo-targeted community for a grassroots style assault rather than shelling out a good portion of your monthly marketing budget on one approach.
In 2016 an endorsement from a top-level influencer would generally cost about $5,000 to $10,000. Now, brands are expected to pay well over $100,000 for the same placement.
You may also consider influencers with less followers. Influencers with 1,000 to 5,000 followers may have more quality followers than those with 300,000, and their cost of service is routinely less than the more established influencers.
Connecting directly with writers is a perfect way to start off the exploration process of social influencers. Writers give you access to publications and social platforms across the board. Building relationships with those behind the keystrokes is a hurdle-less connection towards building a brand presence on social media.
Influencers have become a necessary evil, with their flawless filters, quirky bottle shots, and trend-setting hashtags. Rather than letting an opportunity pass you by, let us help you research, make some connections, and ride that (necessary) influencer wave. Email us at email@example.com or fill out our contact form.