Influencer Marketing, an industry that is estimated to be worth $5-10 billion in 2020, has easily become one of the most important areas in brand communications. It’s no wonder this particular form of marketing is popular considering 92% of people say they trust recommendations from others over any type of advertising.
From mommy bloggers to online fitness gurus and celebrities, influencers are both experts and credible sources in their respective areas and someone who you can rely on for their trustworthy recommendations.
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For businesses trying to build their brand, partnering with influencers can be useful as it can reach new audiences and strengthen relationships with existing ones. Since most influencers know their audiences better than anyone, they are able to connect with followers more authentically and genuinely than traditional advertising.
Thanks to the success of influencer marketing, forward-thinking brands are recognizing the value of working alongside these social media stars. But before brands can enter into a partnership with an influencer, they must ensure that the influencer is the right fit. This is where research plays a key role.
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G Scott Paterson, technology and media venture capitalist and leader at QYOU Media, a global media company powered by creators and influencers, says the first step a brand must do before hiring a social media influencer is to define their target audience.
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Brands should have a real understanding about who they are trying to reach before moving on to identify the influencers that best reach those targeted communities.
Once you’ve hired the right person, the next consideration is to determine where (social media platforms) you want the influencers to post their content. According to Mark Schaefer, the Executive Director of Schaefer Marketing Solutions, “if you’re trying to reach hard-core gamers, you don’t want an influencer who is big on Pinterest. If you’re trying to reach millionaires, you can probably skip Twitter.”
With this research, you will be able to move on to focus on actual content. For example, will the influencer be creative at pushing your brand forward or will they only be promoting your product?
Another area to consider is knowing what kind of content your influencer is best at creating and how it translates to your target audience. In order to create an effective marketing campaign, the influencer’s credibility is key. Are they best at producing engaging videos on YouTube or sharing personal stories and pictures on social networks like Facebook? The frequency of posts is also essential when hiring an influencer. Partnering with someone who hardly shares content at all will not be of help to your brand.
It’s important to note that brands looking to partner with influencers should periodically reevaluate their approach to maximize the value of the relationship. Together, they can create a marketing plan that not only reaches their audience but delivers the success they desire.