For every $1 dollar spent on influencer marketing, businesses end up making about $10 which means it is an extremely profitable way to drive sales to your business, or simply create awareness. Social media is one of the most popular ways to discover new products or services, whether they are local or international. Enter influencer marketing. Your customers likely have people they follow and trust on the various social networks. Whether they like the type of content they post or the way they style themselves, there’s something desirable about influencers that help them generate a massive following. When you’re starting out, influencers can help elevate your brand’s social media following to higher levels in a short period of time.

Influencer Marketing Examples:

MentorBox uses influencers to grow their sales using the hashtag #mentorbox, you’ll find influencers who share their affiliate link with their fanbase. Influencers also use the hashtag #ad to clarify that they receive compensation for the post. In almost any industry, influencer marketing is effective because it allows customers to see what the product or service is like. Influencers, like Tai Lopez for MentorBox, have loyal followers who are curious as to what said influencer does to improve their lives. Since influencers typically lead enviable lives, fans may be more likely to purchase a product that they see an influencer using so that they can possibly become more like the influencer. Influencer marketing acts as a social proof to help drive the sale.

Influencer Marketing Strategy Tips

Rates don’t mean much. Expensive influencers aren’t always better. Sometimes they cost $400 for one post and you end up with 0 sales. Other times it costs $25 for one post and you make $150 in sales. Ideally, you should be pinpointing who your audience is and how that overlaps with the influencer’s audience. A dog fan page will likely convert well if you sell dog products. However, a fashion influencer holding some of your business’s biscuits may result in zero sales. It’s not about how much an influencer charges, but rather how targeted their audience is. To determine the general effectiveness of an influencer you could reach out to other brands who’ve used the influencer, view reviews and testimonials on an influencer marketing platform and more.

Influencer marketing alone won’t help you. You should also be building your social pages and turning someone from your brand into an influencer. Who says you can’t be an influencer? It’s likely more effective too. Building a brand around yourself as a person who shares the same interests as your audience humanizes your brand. You can create video content for YouTube or Instagram Stories, share expert tips for your niche or post pictures of yourself using your products.

When it comes to payment, there are two types of payment influencers will take- cash or free products from your company. It can be more difficult to find quality influencers who will promote your product with an affiliate link and no payment. However, it is possible to find them. We usually offer free products if we’re building a new store and want to build up our social proof. We’ll give influencers free products so that we have attractive pictures of people using our product to add to our social media and our store. It keeps our costs lower too.

Be skeptical of follower count. New entrepreneurs always get so excited to find out that an influencer with 1,000,000 followers is sharing their product for only $200. They think to themselves, “This post is going to make me rich,” and then they end up with $250 in sales which means they’ve just run into the negatives if you take product cost into account. I’ve fallen for it when I was starting out. There are a lot of fake followers on top influencers’ accounts.

It’s a numbers game. Most social media accounts didn’t get built by one influencer. They got built by hundreds or thousands of influencers. There are brands who have teams devoted to working and partnering with influencers. If influencer marketing is the best way for your brand to make money, you’re going to need to approach a lot of people. Some will agree to your terms, some will require negotiation. Some will convert, some won’t. The more you start working with influencers the better you will get at knowing who’s worth working with and who’s not.

Hint: pay attention to the influencers’ comment section. Do the comments seem real? Are fans engaged? Are the comments generally positive? Are sponsored posts about the person or the brand?

Don’t exhaust the audience of your influencer. One of the biggest mistakes I made was doing weekly posts with the same influencer because it kept bringing in money. I switched up the type of products. Created unique graphics for every post. And added a whole lot of variety in the type of content they shared. But the audience effectiveness started lessening after about six months. It just wasn’t sustainable anymore.

Let your influencer add their own style to their posts. We once had an influencer stick her tongue out while wearing our apparel. I almost didn’t use the post on our social media because I felt like it didn’t suit our brand. But it ended up getting a positive response from our audience and resulted in more product sales. Sometimes you don’t know what’s best until you test.

Influencer Marketing Tools:

BuzzSumo

is a social media tool that can tell you what type of content has received the most social shares. You can also search by ‘author: (name)’ to find the best performing content by influencers within a niche. If you plan on having guest posts on your blog, you can reach out to influencers who typically create highly engaging content to create content for your brand. Or if you plan on creating an article listing experts within a niche, you can shout out the most popular influencers in hopes of getting high social shares from them for being featured.

Upfluence

is an influencer search engine. You can search for influencers based on keywords, social media metrics, web traffic and more.

Onalytica

offers two key influencer tools: discovery and management. You can find influencers based on their marketing channels, location, audience size and more. Their influencer management tool is perfect for brands who work with a high number of influencers to better determine who your rock stars are, the content they’re sharing for your brand, and more.

Tapfluence

is a database of influencers you can contact to reach a bigger audience. You can browse a database of 50,000 influencers. You can sort influencers based on the personality of their audience, their interests and more. You can choose your influencer based on 35 characteristics such as gender, age, location, education, language and more.

Social Audit Pro

is a tool that audits Instagram profiles to tell you how much of their audience is real and fake.

Conclusion

I hope that if you’re getting started on your business, or already have a business going, influencer marketing can help you reach your sales and social media goals!  Remember that it’s very important that you look at their engagement! I can’t stress enough how many fake influencers are out there! They are just out for free products and money so please don’t fall for it. Research and study before you go out and spend your marketing budget on fake influencer!

Now before you go on to find your influencer make sure you know who your target audience is, because your influencers are going to be a reflection of the people who your business is targeting. In other words, people are always wanting to be like someone else. If you target the right influencers you will have an amazing conversion rate. Finally, if you do not know who your target is don’t worry we have you covered, just subscribe and we will keep teaching you!