WHAT IS INFLUENCER MARKETING?
It’s exactly what it says on the tin: a business teams up with a content creator – who has already grown their own audience – to raise brand awareness, expand their reach and, ultimately, boost sales. It’s definitely an industry on the rise; according to the Business Insider Intelligence report, influencer investment will reach a staggering $15 billion by 2022.
WHAT DOES IT INVOLVE?
You choose who you want to work with, maybe because you like their account or niche (think home, beauty, fashion, food or travel) and want to reach out to their following. You would normally expect to gift a product and, more often than not, negotiate a fee depending on what you are looking for – may be just a post, a series of Stories or a Reel. Many content creators have their own rate cards, but as a rule of thumb, you can expect to pay anywhere between £100 (for 10,000 followers) up to £1,000 (for 100,000 followers). The realty big hitters will come with a really big price tag. Want to work with Kim Kardashian? Expect to fork out up to a million dollars!
WHAT’S IN IT FOR ME?
Over the past few years, authentic influencers have become one of the strongest marketing tools for brands, big and small. In fact, more and more independent retailers are seeing it as vital for sales and, let’s be honest, it can be far cheaper than print advertising. Because influencers are also content creators, they want anything they promote to fit in with their specific style and you will also be able to share what they post across your own channels.
GIVE ME THE STATS
According to a recent Influencer Marketing study, 80% of brands found influencer marketing effective, while nearly 90% felt the return on investment was comparable or better than other marketing options. Unsurprisingly then, nearly two-thirds of those polled said they would increase their influencer marketing budgets, with Instagram posts and Stories as their main focus. However, finding the right influencer for the right campaign can be tricky, especially when it comes to fake followers.
You can beat this by checking engagement rates (there are a number of online calculators you can use) and looking through their posts. Let’s be honest, if someone has 50,000 followers but are only getting a couple of likes and comments per post then look elsewhere – you want someone who