Throughout decades, marketing, advertisements, and commercials have been cornerstones in converting customer engagement into leads. Making people aware of your product has a significant impact on sales.
As decades to pass, the traditional means of marketing products and making the public aware of your products are services have become saturated, especially when business owners are doing the same strategies. But with recent technological and digital innovations, it’s now easier to market products to a broader audience.
Essentially, having an influencer market your business is like having a professional that can help sell your hand and land to the right buyers. Sometimes, having the right connections does pay off.
What Makes It Important?
For a lot of businesses, having your products and services endorsed by a prominent figure can help accelerate both engagement and sales. That is primarily influenced by how most individuals already trust these celebrities in the first place.
Influencers are known for having a good following on social media and image-sharing platforms, more specifically, on the likes of Instagram. Among E-commerce stores that are selling their products, influencer marketing is among one of the most well-known strategies in increasing sales and organic clicks.
Some statistics say that working together with influencers has resulted in the ROI exponentially growing by eleven times. Through the survey, around 90% of the said ROI came from influencer marketing, which was better than any other network.
Since this was known as a very effective strategy in converting engagement to leads, 65% of businesses and E-commerce stores are setting their sites on influencer marketing last year.
Who Should You Work With?
Naturally, people will think that going for the biggest names in the industry will be the best option. But contrary to what most people believe, contacting and working with micro-influencers (will have followers of 10,000 to 50,000) will yield more results than commissioning the services of macro-influencers (will usually have millions of followers).
Most of the time, compensation can also vary depending on a variety of factors. Micro-influencers will usually focus on a specific niche and are more receptive to accepting products. There are certain micro-influencers that freelance while there are those that are work through a network of other organisations. However, macro-influencers will need better compensation, and you might have to go through bureaucracies.
As such, the better choice in this matter would be working with micro-influencers. In terms of their quotes and rates, micro-influencers are more comfortable to reach a middle ground with.
Finding the Right Influencers
First and foremost, you’ll need to find the right influencers for your business. You will have to research the matter first.
While you’re doing your research, you have to make sure that the influencers are right for the type of industry they’re in. Are you going for macro-influencers? Are you going to local individuals? What you will be focusing on will determine several aspects, such as your budget.
Setting Your Budget
Next, you’ll need to start setting your budget for your campaign. But first, it’s essential to know the average quotes for an influencer that you want to work with. What’s the average quote of influencers?
- The average price for each post is around 250 USD Or 350 AUD.
- If you’re looking for micro-influencers that have less than a thousand followers, each post will be approximately 80 USD or 100 AUD.
- For influencers that do have more than 100,000 followers, the price per position would be about. 750 USD or 1000 AUD
Now that you have a good understanding of the average quotes of freelancers, it’s now possible to outline your budget. Of course, you’ll also need to factor in:
- time for planning
- Execution and application
- Tactics and strategies.
There’s no optimal be-all-end-all type of strategy in influencer marketing; you will need to get creative with the process. You will need to carefully monitor your sales while making necessary changes based on data.
What Are Your Goals?
Lastly, you have to determine that your goals are. The central premise of an influence marketing is to engage the public and to increase the awareness of the product. Once a good customer base has been established in your target audience, it’s going to be easier to increase sales.
But first, you’ll need to look for a long term goal. Are you planning on expanding to a new demographic? Are you launching a new product? These are just some questions that you’ll need to ponder on.
With social media at the forefront of most of our digital interactions, it’s easier to gain traction with the help of influencers. But like when we are hiring someone for the job, we have to make considerations when we are working with influencers. Having a comprehensive marketing campaign will set your business up for success.