Growing Your Revenue Through Influencer Marketing
If you have an e-commerce presence, are active on social media, and have product available for a hungry audience and are looking to grow revenue, then you should consider influencer marketing.
What is influencer marketing?
Go back to TV ads where a product has a celebrity pitchman or pitchwoman.
Now, translate that to such locations as social media platforms, where the influencer could be a big celebrity, local celebrity, or a regular Joe or Jane who has built a large, active social media following. They’ve got an audience that trusts them, that wants to be like them and that is open to being served information about exciting products.
If you rely on word of mouth for your business, influencer marketing can be megaphone for your brand.
Who should do social influencer marketing?
While it all started on YouTube and Twitter followed by Vine and Instagram, Facebook and others are now also becoming strong platforms for beauty and fashion influencers. From weight-loss products to makeup, eyewear and boutique clothing, it’s hard to scroll and not see one of these items being shown off via photo or video posts. Savvy marketers across several genres can benefit, however. From the fitness industry and travel to skin care and cars, there’s room to grow your small business.
Where do you begin?
Start by looking at your own feed and pay attention to the comments. A great influencer would be someone who already is a fan of your brand.
Does your brand use a hashtag? Run a search to find others who are posting with the same tag. That could lead you to a serious list of potential influencers.
Next, do your research. Vet the influencer. Are they positive? Creative? Do they have a large following that fits your target demographics with a high engagement rate? Have they worked with any other brands? Does their social media aesthetic match that of your brand?
There are also third-party tools that allow you to search for influencers like Social Blade and PeopleMap.
How do I pay them?
Companies work with influencers on different levels. You could arrange a “trade” for products, or you can pay for a higher-level influencer. From one-off payments to full contracts, the options can fit the type of influencer you want to work with. Keep in mind that your bigger, more popular influencers are going to expect to be paid and work with a contract.
What about a strategy?
Strategy is key, along with communication. You need to have a plan, goals and ways to measure response to your campaign.
That being said, there is a lot that goes into all of the above, which is why you may need the help of an agency with the talent and tools at their fingertips.
M3 Group can help. Reach out to us at m3group.biz.