There are so many reasons why using influencers is a great marketing tool for your brand, including creating brand awareness, fostering consumer trust, and an excellent ROI (return on investment) compared to other media investments. With influencer marketing, you’re effectively investing in quality content, media costs and celebrity endorsement in the one go, and if you choose the right influencers to work with, you can see some great results.
Here are our top tips for choosing influencers for your brand:
Followers, Engagement & Budgeting
The size of your brand and your budget will determine whether you partner with micro or macro influencers. A micro influencer has between 1000-10,000 followers, and generally yields an 8% engagement rate. While your content is reaching a smaller audience, this audience is generally highly targeted. Micro-influencers are generally cheaper, and some may even promote your brand for free in exchange for samples, however this is not the norm. Macro influencers have 10,000-100,000 followers, with an average engagement rate of 4%. These influencers will reach a larger audience, which may not be as targeted as your micro influencers, however can perform excellently if you choose an influencer who matches your brand target audience.
Budgeting for influencer campaigns can be tricky, as each influencer sets their own rates, which aren’t necessarily consistent across the market. As a general guide, between $25-75 per thousand followers is standard.
The Warning Signs
The biggest concern with consumer marketing is that the money you invest won’t turn into brand conversions or customers, and the biggest risk of this is if the ‘influencer’ has bought their likes or followers. To avoid making a poor investment:
- Take a look at their likes and comments, and compare these to the average engagement rates for their followers. If they’re only getting 100-200 likes with 50,000 followers, it’s almost guaranteed their followers aren’t organic.
- Take a look at their content. Is this an account you’d follow? Is their content original? If an influencer’s content doesn’t meet this criteria, it’s worth wondering whether you want to pay them to represent your brand. If you’re not interested in what their posting, chances are your audience won’t be either.
- What brands have they partnered with in the past? The value of consumer marketing can be lost if they’re promoting your brand directly alongside your competitors. One of the advantages of using micro-influencers is the reduced risk of existing sponsorships.
If you’re interested in influencer marketing or would like to plan your digital campaign, contact us at [email protected]