Influencer marketing has grown dramatically over the last few years. Influencer-led social commerce is expected to grow to $22.2 billion by 2025 and was valued at $16.4 billion in 2022 according to Forbes. If you are considering getting started, here are a few things you should know.
- Influencers are more savvy about partnerships.
As the influencer marketing world grows, content creators are more and more knowledgeable about different partnership options. They will ask more questions and might be more picky when selecting brands to partner with. This is actually a good thing because it will lead to a stronger relationship with your brand.
- Not all Influencers are created equal.
At least when it comes to representing your brand. It is important to know and understand your creators, their audiences and their interests. If the content they are promoting is out of left field, the audience will see an “ad” from a mile away. It has to be authentic and on brand for the influencer to make any impact.
- Relevance, engagement and authenticity are stronger indicators of success than reach.
People follow celebrities because they are celebrities, not because they trust their opinions. Influencers need to be engaged and authentic with their audience to make a true impact on the follower’s decision to purchase what they are recommending.
- Influencers need creative freedom.
One sure fire way for followers to know they are being sold to is to put a bunch of marketing jargon in front of them. Creators should be allowed to share your products in their own way. As long as they are well-vetted and you share your goals and expectations with them, they should be able to produce content that will reach their audience in an effective way.
- You need goals and a plan to track them.
Before even reaching out to influencers, you should set the goals for your campaign and know how you plan to track progress. Whether you are using a spreadsheet or an influencer marketing platform to do all the work for you, setting and tracking goals is how you will measure and track your success.
- There is an influencer for everyone.
Even if you think your brand niche is small, there is an influencer for you. Sometimes, if you think outside the box a bit, you can find the exact person you need. For example, if you sell office chairs, you might immediately think about targeting businesses. However, you might want to reach out to gamers or real estate agents who might sit in front of computers a good portion of their day.
- TikTok has the highest engagement rate across influencers of all sizes.
We discussed engagement rates yesterday across different platforms. As mentioned, TikTok had 10 times the engagement rate of Instagram users. Don’t limit yourself to just one platform if it isn’t the right platform for your brand.
- Social commerce is growing.
People want to know if your product really works. There is no better way to show them this than through a person they already know, like and trust. Consumers are more likely to buy when a friend recommends it. Plus, social platforms are making it easier for influencers to move people through your sales funnels faster.
- Bigger isn’t always better.
Micro and nano influencers have a special connection with their followers. They are more likely to actually know the content creator in person rather than just through social media. As we mentioned before, engagement and authenticity are incredibly important!
- Esports influencers are on the rise.
You don’t have to be a gaming company to leverage esports influencers. Their followers are not only interested in esports. The key to partnering with these influencers is to make sure that your marketing is appealing to their audiences. Look at the demographics of your target audience and find esports influencers who have the same demographic.
There is a lot to consider when starting your influencer marketing campaigns. Sideqik can make this process seamless. Sign up for your free demo today so we can show you how!