What Is Influencer Marketing And Why Is It Changing The Industry?.
What is Influencer Marketing
Let’s answer that question you’re probably asking, “What is Influencer Marketing anyways?” If you’re dubious about influencer marketing, there’s one statistic that should change your mind: fewer than 25% of U.S. online consumers trust ads. That’s a really small percentage! Especially when you consider how much you’re spending on online ad space. From personal experience, we can vouch that influencer marketing can provide much more bang for your buck.
We’re going to briefly let you into the nitty gritty world of Truss budgets. With our all-natural deodorant client, Humble brands, we found that we got more than double the engagement at half the cost compared to our social media ads. You may be thinking, “Well, all-natural deodorant is a niche product, maybe influencer marketing only works for certain markets.” It’s a good thought, but 74% of consumers would disagree. Nearly three quarters of consumers identify word-of-mouth as a key influencer in their purchasing decision. Influencer marketing is how your company can automate word of mouth.
Since influencer marketing is still an emerging trend, there’s no established rates. In other words, influencer marketing is still in the Wild West stage. One influencer with 10,000 followers may request $50 for a sponsored Instagram post, whereas an influencer with 500 followers requests $1000. This is where proper research comes into play. Before you go spending your entire month’s marketing budget on an influencer, take a close look at their engagement rates. It’s very possible that an influencer with 500 followers is more valuable than an influencer with 10,000.
To make sure your money is being well spent, study the comments on your potential influencer’s photos. Make sure you’re not seeing any generic “Great photo!” or “Love this!” types of comments. These are robots and represent fake engagement. What you want to see is if the comments speak human. If so, you know that their following is legitimate.
How We Can Help
Influencer marketing is one the most powerful tools available for building a brand. Stay tuned with Truss Group to receive our upcoming eBook, Launching a Complete Influencer Marketing Program, which details every aspect of starting a successful influencer marketing program.