Has influencer marketing become the newest obsession for reaching new audiences?

28 May 2024 | By - Sudha Mariappan

In this era of digital technology, where data is omnipresent, it becomes almost impossible to cut through all these data-tsunamis and win audiences' attention.

Too many campaigns, too many competitors. But which campaign to choose at the correct time values the most.

One of the best followed marketing campaigns, known as influencer marketing, comes in handy because nowadays it has been applied by the marketing industry all around the world.

However, has that already developed into an “obsession” for reaching new audiences?

Let’s get into more detail about it in order to know more about this powerful campaign.

What is influencer marketing?

Influencer marketing includes collaborating with individuals who have genuine followers in a certain niche. These could be celebrities, vloggers who have high followers, social media personalities, or even industry experts.

This helps businesses push what they sell to an influencer’s audience by sponsoring their posts online so as to get exposure from different angles.

This is exactly like how a trusted friend’s recommendation for a new restaurant will not be ignored. You would rather trust your friend’s judgment.

Similarly, people who follow an influencer decide to trust their words, which uplift the brand awareness. The main thing is, you need to find an influencer who aligns with your brand values and resonates with your target audience.

For example, if you’re a company that specifically sells cleaning supplies, there are numerous influencers who are ‘organizers’, and who review cleaning products. Therefore, collaborating with them would be great for your business.

The types of influencers:

The Influencer marketing is diverse, it provides several options that will likely address what your brand wants.

Here are the types of leading categories of influencers:

Mega-Influencers: These celebrities or high-profile celebrities who have millions of followers with good reach. However, their costs are usually very high, which makes it challenging to create real engagement with their massive audience.

Macro-Influencers: These are the influencers whose number of followers between 100,000 and 1 million, thus providing a nice tradeoff between reach and engagement. Often, they have knowledge in distinct fields which makes them more trustworthy when they recommend anything.

Micro-Influencers: Micro-influencers with 10,000 to 100,000 followers usually have vibrant communities and frequently build a strong sense of trust with their audience. Collaborating with different micro-influencers can be useful in achieving targeted reach at a reduced price.

Nano-Influencers: Having less than 10,000 followers, they might seem less important. But their communities might just be the most engaging and loyal audience, which can make their presence more valuable.

Finding your niche - What brand is your business working on?

Before diving into the universe of influencers, we need to address another thing. How much do you know about your brand? Understanding your brand and the audience that you intend to reach out to, i.e., the target audience, is an important factor

Following are some points that must be taken into account:

You need to look for your target audience, their demographics, their interests, and their online behavior look like.

The influencer you choose to work with should be genuine, and value your company's ethics and morals, and their character should match with that of your brand.

Find out the marketing objectives you have set for your business. Would you like people to know more about it, or simply earn more money through it?

Once you have a clear understanding of your brand identity and goals, you can start looking for influencers who resonate with your target audience and messaging.

Find the Influencer who has a great following:

Now comes the more exciting part, identifying your perfect influencer partner. When it comes to finding an influencer, their follower count comes down to the least of your concerns.

There are important things to look for such as finding influencers who actively engage with their audience, and do not post content just for the sake of it.

Most importantly, their content should align with your brand's values.

Here are some strategies that will help you find a right fit:

Social Listening Tools: Tools that track online conversations and identify influencers within your niche can be used to perform social listening.

Industry Publications: Look for publications that highlight influential figures within your specific industry so that you can collaborate with them.

Social Media Platforms: Influential people generate high engagement on platforms such as Instagram, YouTube, and TikTok, therefore, you can explore them through the internet.

Influencer Marketing Platforms: Consider using platforms that connect brands with influencers and facilitate collaboration.

How do you build relationships as a brand:

For a successful influencer marketing campaign, building genuine relationships with the influencer will not only make sales grow but also help build trust in the long term.

Offer Transparency: Being upfront about your expectations and campaign goals with your client, aka influencer will let them know what they are getting into, and build trust over time.

Provide Creative Freedom: You may have some expectations from influencers that you are collaborating with. But allowing them some creative control to make sure their content is authentic will resonate with their audience, and convert them into leads.

Offer Compensation: Offer some compensation for the work they have done. For example, you can give them 10% commission from the revenue you have generated from the products they sold for you, with an agreement being created.

Measure your success of your influencer marketing campaign:

After all you have done, the result must be fruitful. Like any other marketing strategy, measuring success of this particular influencer marketing strategy is important for leading future campaigns. Here are some key metrics you can use to track:

Reach: How many people saw the influencer's post about your brand?
Engagement: Did the post generate likes, comments, and shares?
Website traffic: Did the campaign drive traffic to your website?
Sales conversions: Did it translate to actual sales or just went into views?

Tracking your content with these metrics will help you measure the campaign's effectiveness and refine your influencer marketing strategy for future success.

According to a report cited by htmedia, the influencer marketing size is estimated to be $22.2 billion by the year 2025. That’s how powerful influencer marketing has become over the years.

With an increase in influencers and their follower families, there is no doubt the growth will be even more inevitable.

Therefore, influencer marketing has been a hot topic over the years for businesses looking to increase their sales.

Whether it be collaborating with micro-influencer or macro-influencers, our leading digital marketing agency can help you brainstorm and create new campaigns, and collaborate with different influencers in your niche. Connect with us at info@ontogendigital.com . Subscribe to us for more blogs.