What’s the Hype Behind Influencer Marketing?
Written by: Ali Smith, Innovation Manager
It Works…Duh!
We guarantee that at least once in your life, you have purchased something or visited a place because it was recommended to you by someone you trust. Welcome to influencer marketing. Don’t worry, we know that we cannot tell you something works without providing some insight as to why you should trust our opinion; that wouldn’t be very ‘influencer’ of us.
Here are some stats from trusted sources in the marketing industry to peruse through:
71% of marketers say the quality of customers and traffic from influencer marketing is better than other sources. (HubSpot Blog Research, 2022)
Of all age groups, Gen Zers trust influencers the most. (HubSpot Blog Research, 2022)
In 2021, roughly 58% of marketers said influencer marketing was the most effective marketing trend, ahead of SEO, experiential marketing, and short-form video content. (HubSpot Blog Research, 2022)
For total transparency, Hubspot reports that ‘the biggest challenge marketers face with influencer marketing is measuring the ROI of the campaign. Cost is the second biggest hurdle marketers face’ (2022). Depending on the marketing budget, there are many ways to incorporate influencer marketing into your strategy.
From Nano to Mega
Social Media Influencers are categorized based on their following to represent the amount of reach they have on a particular platform. Along with their size and reach, influencers will determine different rates based on the requested content type, engagement rate, niche, and more.
As you can imagine, there is an influencer in every industry. This means that no matter how abstract your brand could be, there is an influencer within your niche (or you wouldn’t have a business, right?). Here are just a few of the most common types of influencers by content/niche, each with a plethora of smaller niches:
Gamers
Lifestyle
Sports / Fitness
Geographical (i.e. Pittsburgh)
Travel
Fashion
Food
Etc.
The Ten Four Social Ambassador Program is comprised of 250+ influencers who fall in the nano to micro range. Why do we love working with smaller influencers? They are the easiest to connect with as they are still working to build a larger audience. Most of our influencers are hyper-local, meaning their audiences are also local to the area. This is HUGE for our clients because these campaigns will guarantee an increase in awareness directly to their target audience (Pittsburgh!).
Research has shown that influencers with followings from 1k-5k have approximately three times the engagement rate of those with 5k or more. The power that nano and micro-influencers have to spread awareness and generate genuine interest among their community is very underrated.
Vibing Together
Even though there seems to have been a boom in influencer marketing over the last few years with everyone and their mother joining Multi-Level Marketing businesses, such as Monat, we all know that word-of-mouth marketing has been around forever. But what is the reason why this style of marketing works? It comes down to trust and social proof.
In the early years of social media, influencers, primarily celebrities, were advertising brands and products for their paid partnerships. But during this time, because the concept was so new to social media, these first influencers were not required to tag their post as an #ad. When consumers realized their favorite celebrities were not sharing products or services out of genuine interest but for the paycheck behind the advertising, trust was broken. This is where the Federal Trade Commission (FTC) stepped in and made it a legal obligation for the content creators to disclose their paid partnership content or face a lawsuit. (yikes!)
Because of this, many influencers are now more selective of the brands they partner with and support. They’ve worked tirelessly to gain the trust of their following and aren’t going to risk that just for a quick paycheck. In the midst of Gen Z and Cancel Culture, these rising influencers are not afraid to say no to a brand deal/collab/partnership if it doesn’t align with their personal brand and persona (but that’s a big topic in itself). Quality, communication, and transparency are all significant factors when it comes to working with influencers. Content creation is part of their job, but maintaining trust is their career, and brands will need to recognize that while building genuine relationships with them.
Get on the Bandwagon
According to Influencer Marketing Hub in their The State of Influencer Marketing Benchmark Report 2022, more than 75% of brand marketers intend to dedicate a budget to influencer marketing in 2022. Are you one of those brands?
Here are a few campaign ideas that would be perfect for bringing influencers in for:
Event Awareness
Product Promotion
Subscription Packages
Grand Openings
New Menu Launch
Ten Four Social has our own influencer marketing division with our Brand Ambassador Program! Over the last two years, we conducted over 50 campaigns for our clients and have helped foster lasting partnerships between brands and influencers. Whether you’re an influencer looking for more partnerships in the Pittsburgh area or a business looking to spread the word about what you offer, we’ve got you covered! Visit the links below to find the opportunities you're looking for!
