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In today’s flooded consumer landscape, more and more people are turning to their favorite accounts on Instagram, TikTok, Facebook, and other social media platforms for purchasing advice.
Now, many businesses are using influencers to shout about the benefits of their products from the rooftops. Interest in the practice of using influencers continues to grow, and many brands are re-tuning their marketing strategies to include them in their marketing mix.
Are you considering joining them? If so, this guide was made for you. Here, we'll discuss what influencer marketing is, how brands are using it, and everything else you need to know about the marketing tactic.
Table of Contents
Influencer marketing is the practice of brand promotion by way of individuals or organizations that are considered leaders in their industry or niche. Brands partner with influencers who can share their products with their social media followers.
With a certain level of influence on social media, their endorsement of a particular brand carries a considerable amount of weight among their followers.
As apps like TikTok, Instagram, Facebook, and other social media platforms have become common elements of our everyday lives, the tech-savvy “average Joe” has been able to galvanize their followers through unique, engaging content.
Brands now have a new way to connect directly with an audience through these individuals. Influencer marketing is one of the most popular methods of attracting new consumers to your brand.
The role of the influencer has been continuously evolving. For example, before human influencers took over your TikTok, product mascots were used to inspire audiences to purchase products. You may remember the cute and fluffy Energizer Bunny or even the french fry-loving Ronald McDonald.
With the rise of TV, actors, actresses, sports players, and others began endorsing products. And through their influence, brands experienced massive sales and growth. Now, through the internet and social media, brands are seeing the same success using influencers.
How does influencer marketing differ from other strategies such as word-of-mouth marketing and advocate marketing? While these three strategies share many similarities, they each occupy their own unique category within a marketing plan.
Influencer marketing is the practice of utilizing key individuals to communicate your message to their following. Word-of-mouth marketing happens when people who see an influencer’s sponsored post then spread that message among their network.
By its nature, an influencer marketing campaign indirectly supports word-of-mouth, but not all word-of-mouth campaigns are influencer-based.
Similarly, advocate marketing is a form of word-of-mouth marketing. However, it differs from influencer marketing in that it involves getting your existing customer base to spread the word about your brand.
Many brands have been able to promote their products or services using influencers successfully. Why? Influencer marketing offers many benefits, such as:
The influencer marketing industry is expected to continue to grow. According to recent data by Influencer Marketing Hub, the industry is set to grow to approximately $21.1 billion in 2023. Why the crazy growth? Because brands have seen success using this marketing tactic.
Over 83% of brands still believe influencer marketing to be an effective form of marketing, according to Influencer Marketing Hub. This is due to the great return on investment often realized through influencer marketing efforts. According to experts, on average, brands receive $5.20 back for every $1 they spend on the tactic.
It's important to note that not all brands will see the same ROI. You'll need to measure how successful your influencer campaigns are so you can optimize future campaigns.
Influencers make money in a number of ways, and it’s normal for them to have several irons in the fire, so to speak. With a variety of income streams, an influencer reduces the risk of taking a big financial hit should a platform demote their content due to algorithm changes, content restrictions, competitor rankings, or other updates.
In general, there are three main ways influencers bring in the cash:
Not only do influencers use the above ways to make money, but many have cast an even wider net, branching out to merchandising, touring, book writing, and other money-making ventures.
Are you interested in developing influencer marketing campaigns? If so, there are some best practices to follow to get started. The steps you follow will depend on whether you’re a brand looking for an influencer or an influencer looking for a brand.
Brands can get started with influencer marketing by first understanding their audience and the types of influencers they follow. Most brands make the mistake of first finding an influencer without considering their unique community.
Next, you’ll need to develop specific goals as it pertains to an influencer’s efforts. Are you looking for significant product sales through your website, an increase in Instagram followers, or something else? Knowing this helps narrow down the choices in influencers you ultimately choose.
Finally, you will want to establish how you'll measure the campaign’s effect. Figure out the KPIs that are important to your success and use a reporting tool to distill the data.
The first place to start as an influencer is on your social accounts themselves. Simply reach out to brands via direct message and ask if they have any opportunities. Many companies are happy to first establish communication on Facebook, Twitter, Instagram, etc. before they move the conversation to more official forums.
You can also try a brand’s website, as many have dedicated sections specifically for influencer endorsement and brand advocacy information.
Another common strategy is to just start mentioning and promoting a brand you want to work with on social media for free. You’d be surprised at how often an influencer receives a nod or even free merchandise from a company just for a simple post or hashtag.
Plus, it helps establish a relationship that you can then nurture into future, longer-term work.
While the rise of the influencer has resulted in serious success for many brands, it's not the only way to market on social. More and more brands are choosing to partner with content creators instead of traditional influencers. But what's the difference?
As we mentioned earlier, influencers focus on influencing their audiences to purchase specific products through methods such as sponsored posts. Influencers create videos, photos, and more featuring them using a brand's products. They then post this content to their social platforms.
Content creators are different in that they create content that brands can use in their marketing strategies. This content is typically posted to the brand's Instagram, TikTok, or other social platforms instead of the content creator's platforms.
With the support of a content creator, brands can have access to high-quality user-generated content, such as product photography and video testimonials. Plus, brands don't have to consider follower counts when using creators. Instead, content quality is the priority.
Could your brand benefit from the support of content creators? We've found the following tactics to be effective when you're just getting started.
Just like influencer marketing, understanding your target audience is critical when utilizing content creators. You must understand the type of content they want to engage with, so you can select creators with experience in that content medium.
For example, do they prefer watching short-form videos on TikTok? Or, do they want to scroll through the photos on your Insta-feed? Understanding the type of content your target audience connects with will help you guide content creators in developing more engaging and effective content for your brand.
The highest-quality content will come from professional and experienced creators. However, it can be a challenge to source them on your own. Instead of scrolling through hundreds of social media profiles, you can use a content platform such as Cohley.
Cohley is a platform that offers access to thousands of pre-vetted creators ready to deliver the highest quality assets. All you have to do is define your requirements, and creators with the right experience will come to you. Plus, with built-in usage rights, the content you receive is yours to keep and use, forever.
Once you publish your content, you must measure its success to determine what's working and what's not. You can use various metrics to see how much engagement your content receives. You can then use the insights you uncover to deliver pointed feedback to your creators. As a result, you can better optimize future campaigns.
Utilizing content creators to support your marketing strategy can be just as effective as using influencers. And many brands have seen success using Cohley's creator platform.
Adore Me, an inclusive lingerie brand, published a Cohley Campaign to access our vast network of content creators. After describing their needs via our creative brief, Adore Me found 45 amazing influencers to create video content specifically for the brand's TikTok account.
This content allowed Adore Me to publish and repurpose 50+ video assets simply. Plus, Adore Me was able to tap into a new audience on TikTok and a new content format.
Need more proof that user-generated content works? Check out our other success stories!
Are you ready to create compelling, scroll-stopping content for your platforms? We've developed the Ultimate TikTok Creative Brief Template, a tool you can use to build effective paid and organic campaigns. Plus, it includes tips and tricks on everything from content specifications to compensation from the experts at Cohley.
Overall, both influencers and content creators can support your marketing strategy by enabling you to reach a highly targeted audience that's primed to purchase.
For brands looking for high-quality content and vetted creators, Cohley's content marketing platform can help.
From simplifying outreach to streamlining content creation, Cohley can help you find creators in your industry who will make a big impact on your campaigns. Reach out to us today to learn more!