According to Influencer Marketing Hub, the influencer marketing industry is set to grow to approximately $21.1 Billion in 2023. And it will keep growing in the following years.
It’s clear why: with 92% of consumers trusting word of mouth from other people (even if they don’t know them), influencers are becoming a more and more popular way of doing marketing and increasing brand awareness.
In this article, we’ll go through the main aspects of influencer marketing, to understand why you should include it in your marketing strategy.
Influencer marketing is a way of promoting a brand or product through influencers.
Influencer marketing has officially become a thing in the early 2010s, with the first social media influencers appearing on YouTube and Instagram. In the beginning, these were just people with a lot of followers, that companies paid to promote their products or services.
Brands quickly realized the potential of partnering with these individuals to reach and engage with their target audiences.
With this kind of partnership increasing and adding value, the industry has become more sophisticated, with influencer marketing agencies and marketing platforms emerging to help brands identify, engage and work with influencers more effectively.
Let’s consider a few benefits of working with influencers:
To achieve all the above, you need the right influencer for your brand. It’s not only a matter of budget, but there are also other important factors involved:
The US Federal Trade Commission has issued guidelines on this matter. Check the FTC Influencers Guidelines here.
Now that you’ve seen that working with influencers can bring great benefits to your business, let’s go over 5 essential tips to succeed when relying on influencer marketing.
Before starting your influencer marketing campaigns, it’s important to establish clear guidelines and expectations for both you and the influencer.
and any other expectations you have. The easiest way to do it is through a contract, upon which both parties agree.
Building authentic relationships with influencers is key to the success of your campaigns. This involves not only communicating your expectations and guidelines, but also working with the influencer to create high-quality, engaging content that resonates with their followers and aligns with your brand values.
The content created as part of your influencer marketing campaigns should be high-quality, engaging, and relevant to your target audience. This can include blog posts, videos, images, and other forms of content that are likely to resonate with the influencer’s followers and align with your brand values.
Transparency and disclosure of sponsored content are important for ensuring that your influencer marketing campaigns are ethical and comply with regulations and guidelines. Encourage the influencer to clearly and prominently disclose any sponsored content and make it clear that the content is a paid promotion. This helps to build trust with your target audience and ensures that your campaigns are transparent and credible.
Remember: disclosing sponsored content is a legal requirement! So if your influencers don’t disclose sponsored content, you’re both breaching the law.
Regularly monitoring and adjusting your influencer marketing campaigns is important to ensure that they are achieving your desired results and delivering a positive ROI. This involves tracking the KPIs you’ve set and making adjustments to your campaigns as needed.
Implementing these tips will help you get the most out of your influencer marketing strategy.
Besides an influencer marketing strategy, you probably have other strategies in place. But are you sure they are 100% ethical?
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