You've probably already heard the term Influencer Marketing, the internets latest Digital Marketing Strategy. Over the past three years, Google searches for “influencer marketing” grew by 1,500% and by 2020, influencer marketing is projected to become a $1.7 billion dollar industry.
What is Influencer Marketing Exactly?
Influencer Marketing is a little bit like a good old fashioned celebrity endorsement but on some serious steroids. It's the next level for your Digital Marketing Strategy.
At a very basic level, brands pay celebrities and everyday people (with a large social media following) to promote their products. This might seem small time, but let's talk some numbers.
According to Influencer Marketing Hub, for every dollar spent on Influencer Marketing, brands saw $5.20 in earned media value and 28% of brands have noted that their Influencer Marketing is their fastest growing marketing channel. The same study found that 63% of brands plan to increase their Influencer Marketing efforts over the next 12 months.
And what do consumers think? According to the Hunter Research Foundation Centre, 63% of respondents aged 13–24 would try a brand or a product recommended by a YouTuber and 40% of this demographic feel that Youtubers understand them better than their own peers.
At no other time in history have we had the ability to reach such specific markets, at this kind of scale.
How to start...
We have seen all kinds of mistakes and miss-steps when brands dive into the Influencer Marketing world. Our best tip is to treat it like any other form of new marketing strategy - if you are going to do it in house, make sure you dedicate the resources and training. It’s not just a matter of sending free product to someone you saw on Instagram. Don't underestimate the time and effort that goes into a successful Influencer Marketing Campaign, especially for someone just starting out, depending on the scope of the project, it can become a full-time job very quickly. If you don't have the time or manpower, hire a company that knows what they are doing (like us!). Companies that have been doing this for a while, already have the Influencer strategy, contacts and procedures set up and will be able save you the headache of creating a whole strategy from scratch.
What is included in a Bright Red Marketing Influencer Marketing Campaign?
We will work with you to identify the types of influencers that match your market, discuss your budget, and work out the best strategy to help you achieve your goals.
Once we know who you’re looking for, we put together a ‘type’ of influencer and handle the research, and contact of the influencers. This is the most time consuming part as we need to find the influencers, discuss rates and deliverables and check that they are getting the type and level of engagement that we would expect.
When we have selected the best influencers for your brand, we send a briefing document to the influencers. This ensures that there is very little room for misunderstanding and reduces the back and forth.
We manage the entire communication process of the influencers, you’re busy enough running your business without having to discuss the minutiae of the campaign - that’s what we are here for!
Once the campaign is live, we follow up to make sure everything is running smoothly, and influencers are posting the right things at the right time. If you opt in for a combined Influencer + Promotion strategy, this also includes the management of the Facebook Ads campaigns in line with the influencer posts.
When the influencers have finished posting, or in the case of our monthly contracts (the month is up) you’ll receive a report on the engagement, click throughs and sales generated from the campaign as well as suggestions for potential influencers moving forward.
Interested? Contact us below for more information!