A Beginner’s Guide to Influencer Marketing

A Beginner’s Guide to Influencer Marketing

Learn how influencer marketing can add value to your marketing plans and essentially boost your campaign with the help of social media influencers.

A network of people connected with each other depicting exactly how influencer marketing works.

The advent of social media has changed the marketing game completely – making it easier for companies to reach a larger audience with lesser resources and time. 

In this rapidly growing industry, brands must be on their toes in adapting to the latest marketing trend and leverage every possible tool or platform that can help them through this endeavor.

The growth of influencers along with the hype of influencer marketing makes it more difficult than ever to formulate a campaign strategy. 

Hence, we are here to break it down into chunks, to make it easier for you to understand the how’s, the why’s, and the what’s of influencer marketing. So without any further ado, let’s begin.

Who Is An Influencer?

Before we get into what influencer marketing is, it is important to understand the basics of what and who is an influencer. 

An influencer is someone who has the ability to persuade people in making decisions with their social presence and a strong following because of their authentic opinions.

They are specialized in their respective fields and possess incredible knowledge on specific subjects, making them a useful asset for companies to promote their brand, products or services. 

Anyone with a social following is an influencer. Their approach towards creating content that resonates with their audience is what makes them stand out from the clutter. 

Influencer marketing can amplify your marketing needs and goals by leveraging the power of social media

What Is Influencer Marketing?

The term can be mathematically defined as word-of-mouth marketing raised to the power of social media + X factor. Too complex? Let’s simplify it! 

It’s a hybrid of social media and content marketing, where brands choose influencers to spread a word about their product/service to the relevant target audience in a super cost-effective way. 

The influencers, on the other hand, get paid for creating content that resonates with the target audience of the brands. The pay scale varies depending on the number of followers and the engagement rate.

Influencers with higher engagement such as the famous football star Cristiano Ronaldo made $47.8 million from paid Instagram posts, according to a study by social media firm Hopper HQ on Buzz.

In short, it is the process of promoting a product or service via individuals who can drive business from their target audience. 

How influencer marketing can build trust, authenticity and credibility among others. How everything is connected to everyone.

Why Influencer Marketing And How Can It Add Value To Your Business

The days where the consumers could be easily swayed by others’ opinions are long gone. Today, most of the purchases are made after thorough research, considerations, and comparisons.

Some of the reasons that make this mode of marketing a more reliable marketing channel are — authenticity, organic results, relatable content, and higher ROI generated by influencers.

Companies are making a solid return. They generate around $6.50 (₹464) revenue for each $1 (₹71) spent, according to the latest poll from the influencer marketplace Tomoson.

Revenue per dollar spent on Influencer Marketing. A data according to Tomoson.

Influencer Marketing in 2020: What’s New?

This mode of marketing has been in the spotlight for a while. There is a growing number of influencers on social media and it’ll be a challenge for the marketers to find the relevant influencers and measure the effectiveness of the campaigns.

The good news is the flow of investment is gonna rise in 2020. We have TikTok rising with the potential to surpass major social media players such as Instagram and Facebook. 

In addition to that, there are plenty of tools and platforms available online – such as Kofluence which will help you in the entire campaign execution process – right from planning till the post-campaign-performance insights. 

Conclusion 

This mode of marketing is growing at a fast pace, making it one of the most preferred channels of marketing. Brands must be prompt in realizing this and plan out their influencer marketing strategy quickly. 

It may seem complicated at first. But as you go, it gets easier to craft better marketing plans, find relevant influencers, and track the results. 

And since it is cost-effective, it makes room for the marketers to make mistakes, learn, and improvise their marketing strategies.  

What are you waiting for? Start leveraging the power of social media today. 

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