Influencer Marketing has taken the marketing world by storm and has completely changed the game on the concept of endorsement. Once upon a time, having a big celebrity or sports star endorse a product or company was the norm, so the average Joe and smaller businesses couldn’t often afford to take advantage of this marketing avenue.
However, social media has changed the game, and it’s no longer just influential celebrities and sports stars who are making endorsements. And it’s also no longer just large businesses that can afford to leverage this strategy in their marketing. Here’s how you can get started in Influencer Marketing, as a small business or as an influencer!
What is Influencer Marketing?
As we discussed in our Business Marketing Basics blog, Influencer Marketing is marketing based on and promoted by someone who affects or changes the way other people behave. Most influencer marketing is achieved through social marketing platforms, and of course some are celebrities and large brands. However, most are just regular people who have carefully crafted their online identity and personal brand. An influencer’s primary goal is not simply to share information about or promote products or services, but rather to build credibility and become a trusted persona in their specific area of interest.
One of the most well known social influencers is Addison Rae, who has amassed over 84 million followers on Tik Tok, and made more than $5 million in 2020. Starting with trendy dance videos that led to her joining a collaborative content house named The Hype House in 2019, she began expanding to other platforms and obtained an agent. While this is not the typical path for your average Tik Tokker, it is an example of the power of social media and influencers today.
As a small business, finding a competent local influencer could be a viable option. For example, a local clothing boutique could research their area on social platforms and find lifestyle bloggers and influencers. Filter out those with less than a few thousand followers, those who don’t post consistently, as well as those whose branding doesn’t fit with the business. Then contact the rest and hold a meeting to see what the options are – who knows, it might be a perfect match!
How Do Influencers Make Money?
Influencers make money in various ways, but most would be contractually through their sponsorships. Depending on their negotiations, which reviews not only metrics, exclusivity rights, deliverables, and content, sponsorships can net an influencer anywhere between $100 to thousands of dollars for a single Instagram story. Sponsorships are the most lucrative for the influencer, but not to be ignored is affiliate marketing. Income from affiliate commissions can net up to $5000 a month when done right.
What is Micro, Macro and Nano Influencer Marketing?
Of course Influencers are broken down by the number of followers, so when we mentioned “local” influencers, it’s taking the idea of Nano and Micro to your doorstep. Nano is marketing local content to a narrow audience, while Micro can reach a larger audience that is still somewhat within the local parameters. Macro (and Mega) are those with worldwide reach who can be more costly than most small businesses can afford.
A simple breakdown is:
- Nano – more than 1,000 and less than 10,000 followers
- Micro – more than 10,000 and less than 100,000 followers
- Macro – more than 500,000 followers and less than a million followers
- Mega – more than one million followers on any social media platform
How Do You Become an Influencer?
This can feel like a trick question, because like anything, it comes down to timing, a little luck, and a lot of talent and determination. Most who try have a difficult time getting the jump start they need. But starting off with a solid game plan can keep you on track and motivated later on when you feel like you are hitting a wall.
The following tips can be extremely helpful if you are just starting out as an influencer:
- Find your calling – what do you love or do better than anyone else? What do you have to say about it?
- Choose your platform and branding wisely
- Know who you’re talking to and how to connect to them
- Create quality content that engages your followers
- Schedule posts often and interact with the posts
- Market yourself – let everyone know who you are and what you do
Should an Influencer Hire a Tech Partner?
Marketing yourself and developing a personal brand does share some key similarities with marketing a product or service or building a large corporate brand. The most critical component in all these forms of marketing is credibility, and the cornerstone of having credibility on the web is a professional and compelling website. Your website is just that: “your website”. No one can dictate or affect the content or messaging there. It can be an oasis for all that is you and your brand. Your website, if built properly, should be at the top of search if someone Googles your name – meaning you have first say in your branding and messaging, and a more professional point of contact for anyone wanting to learn more about you or interested in doing business with you..
A website can also serve as an eStore for merch and a fantastic platform for affiliate revenue streams as your brand grows. And we can’t state this enough – you have ownership and control over all business decision-making that takes place there.
An influencer website doesn’t necessarily have to be flashy, but it does need to establish who the influencer is so that a foundation of credibility can be established. Anyone can have an Instagram or Tik Tok account, but those who are serious will also spend the time and energy in developing themselves and their brand in a more professional way.
Have you thought of becoming an influencer? Contact Blink;Tech today and learn how we can help you get started on your Influencer journey!