A Complete Influencer Marketing Guide A Complete Guide to Influencer Marketing Social Media Marketing and Influencer Marketing are a few buzzwords that have taken the marketing world by storm in recent years. It has increasingly become one of the most popular trends in marketing. In fact, influencer marketing is already worth as of companies that have already much as $8 billion, and is steadily on track to gain an % additional $7 billion by 2022, making it a $15 billion 80 implemented an influencer industry according to a study by Business Insider. marketing program say it performs as good as - if not better than - other As more companies begin to understand and see the marketing channels. MEDIA KIX potential for success with influencer marketing, we are seeing a shift away from traditional marketing strategies such as radio, print, and T.V. ads. Eighty percent of companies that have already implemented Ready to dive more into the world of influencer an influencer marketing program say it performs marketing? This guide teaches the basics of influencer as good as - if not better than - other marketing marketing and will help you establish a social media channels (Media Kix). influencer marketing program of your own. A COMPLETE GUIDE TO INFLUENCER MARKETING | 2 Table of Contents What is Influencer Marketing? 4 How to Create an Effective Influencer Strategy 13 Finding the Right Influencers for Your Brand 20 Influencer Management 23 Measure Success 27 The Future of Influencer Marketing 31 Conclusion 34 What is Influencer Marketing? INTRODUCTION02 The explosion of social media over the past decade has created open forums for the general public to share glimpses into their everyday lives immediately with people all over the world through photos, videos, and status updates. While most choose to remain somewhat “quiet” in the social media world, others have found a way to utilize these social platforms to build their own personal brand and gain hundreds of thousands – sometimes even millions – of followers. CREATED BY A COMPLETE GUIDE TO INFLUENCER MARKETING | 4 INTRO | WHAT IS INFLUENCER MARKETING What Are Influencers? Equipped with a small army of adoring fans, these influencers do just what their titles imply: influence Influencer Builds 1 Personal Brands their followers to take action. Generally focusing on one niche market, influencers build communities of followers and partner with brands to promote products, events, or services to their fans. Celebrity Develops Niche endorsements are commonly confused with 2 Community of Followers influencers by many brands, but they are not the same. Traditional celebrities do not typically have an engaging relationship with their followers like Hired by Brands to influencers do. 3 Promote Products Influencers - perceived by the public to be an average person turned social media superstar - are Build Trust Gap able to bridge the trust gap between company and 4 consumer by creating authentic relationships with their followers. In turn, as consumers feel they are connected to these influencers and able to trust them, they are more inclined to purchase products or 5 Consumers Purchase services presented by influencers. Products/Services A COMPLETE GUIDE TO INFLUENCER MARKETING | 5 INTRO | WHAT IS INFLUENCER MARKETING Is Influencer Marketing a Valuable Tool? But is this really a valuable marketing tool that will actually generate revenue for a company? Short answer is YES! Studies show that “90% of people with access to the internet trust recommendations from social media influencers”. Influencer marketing is not a new concept for companies looking to promote products. Although very different from how we know it today, using % famous faces to influence consumer spending habits dates back hundreds of years. Well-known 90 companies such as Coca-Cola, Aunt Jemima, and of people with access to the internet Marlboro have all enjoyed great successes when trust recommendations from social creating promotional marketing materials using media influencers. familiar faces. A COMPLETE GUIDE TO INFLUENCER MARKETING | 6 INTRO | WHAT IS INFLUENCER MARKETING How to Use Influencer Marketing The general public has grown weary of traditional marketing methods from companies. A 2019 consumer survey by Edelman, the world’s largest PR firm, revealed consumers prefer to purchase from brands they trust, yet only one in three customers feel they can truly trust companies. That is a shockingly low number that should worry just about any marketing professional. If consumers A 2019 consumer survey by Edelman, the world’s can’t trust a company, it is only a matter largest PR firm, revealed consumers prefer to of time until they move on to find another purchase from brands they trust, yet only brand of their favorite products. customers feel they can truly trust companies. A COMPLETE GUIDE TO INFLUENCER MARKETING | 7 INTRO | WHAT IS INFLUENCER MARKETING Social Media Influencers Enter: Social Media Influencers, who can help restore faith to skeptical customers. When run Which Social Media Channels are most properly, an influencer marketing program can important for Influencer Marketing? be an effective strategy compared to other (select multiple) traditional marketing methods for brands. Influencers are masterful storytellers and have Instagram 89% already put hours into cultivating relationships and interacting with their followers. They are YouTube 70% adept at engaging audiences and creating Facebook 45% appealing content that authentically connects Blogs 44% with consumers. Twitter 33% Any social media platform has the power to LinkedIn 19% become a powerful marketing tool when a successful influencer is in the driver’s seat. Pinterest 15% Facebook, Instagram, YouTube, and even good Twitch 6% ole’ fashioned websites are some of the most Snapchat 3% popular influencer marketing platforms. They have the power to quickly deliver products into Other 1% the hands of consumers in their homes, at the 0 20% 40% 60% 80% 100% office, and on the go. A COMPLETE GUIDE TO INFLUENCER MARKETING | 8 INTRO | WHAT IS INFLUENCER MARKETING Types of Influencers There are millions of influencers all around the world who are keenly tuned in to their followers, and act as experts when it comes to their own niche market. Every industry, no matter what the market, has a potential influencer that can share products and services with their followers. This makes it relatively easy for companies to target specific markets by relying on their team of influencers to connect with consumers and share the benefits of their product or service. Each social media platform presents a unique way for influencers to interact with their followers. From writing blogs or recording videos, to posting on their own personal websites. Influencers give a glimpse into their everyday lives using a variety of mediums; photography, live streaming, stories, and blogs. The possibilities are endless for influencers when it comes to finding creative ways to connect and share content with their audiences. A COMPLETE GUIDE TO INFLUENCER MARKETING | 9 INTRO | WHAT IS INFLUENCER MARKETING Nano & Micro Influencers Besides being focused on specific types of industries, influencers are often sorted into specific categories related to how many followers they are able to reach with their content: Nano-Influencers Micro-Influencers Small but mighty, nano-influencers usually Having anywhere from 10,000-100,000 only have a few thousand followers. But followers, micro-influencers often have don’t overlook them because of that, as more experience under their belt than bigger isn’t always better. These influencers nano-influencers and are typically experts are able to offer access to quality audiences of a specific industry or niche. With access over quantity. Nano-influencers have closer to a large following, but still able to maintain relationships with their followers and close relationships, micro-influencers will typically produce higher engagement rates. be cheaper than macro-influencers, while still producing quality results. A COMPLETE GUIDE TO INFLUENCER MARKETING | 10 INTRO | WHAT IS INFLUENCER MARKETING Macro & Celebrity Influencers Macro-Influencers Celebrity Influencers Macro-influencers are able to provide Celebrity influencers will cost the most money a happy medium between celebrity and to work with, however, they will have more micro-influencers, with anywhere from reach than the other influencer types, usually 100,000 to 1 million followers. These having access to millions of followers all over the influencers are able to provide access to a world. They also commonly use more than one large audience of a specific demographic, type of social media, expanding their reach even however, they usually have low engagement further. Like macro-influencers, because of their rates because of their size. size, they don’t provide high engagement rates. The type of influencer a company works with depends largely on the audience they are targeting and the overall goal of the marketing campaign. Thought leaders or bloggers are great for promoting specific products or ideas of a brand, while reality stars and video bloggers (vloggers) are better options for hosting live events or demonstrating how a product works by showing how it is used in everyday life. It can be overwhelming for marketers who are just starting an influencer marketing program to know where to start when looking for the perfect influencer to partner with. This guide is a great resource that goes into more detail about