To unleash the power of your online business, you need to follow the 80/20 rule.
Instead of targeting everybody to help people know your brand that yields the least results, you need to target the select few who can bring in traffic and conversions you thought impossible. Therefore, you need to find the 20% of people online who can help your business move the needle and make waves in your audience.
Most of the people that make up the 20% are influencers or people with over thousands of followers. By asking them for help to promote your business, you can rack up thousands of traffic and revenue if you do it correctly.
However, influencer marketing won’t make your business an overnight success. As mentioned, you need to do influencer marketing correctly if you want to yield maximum results. In this post, you will learn what influencer marketing is and how it can help push your online business to the top by following the steps in this post.
What is Influencer Marketing?
Influencer marketing is a term that is being tossed around a lot these days, but what does it really mean? It is the idea of interacting with influential individuals to market your products or services. The main goal behind influencer marketing is to work with trusted individuals whom you can rely on to indorse your brand.
What is an Influencer?
You can find influencers on social media and recognize their ability to sway other people’s decisions, primarily purchase decisions. They can do this by showcasing their knowledge and expertise in a particular niche and by having a way with getting along with others. They always light up a positive atmosphere and attract other people’s attentions with their unique character.
How Do You Measure Influence?
An influencers influence can be measured by checking out the number of followers they have and their level of engagement. Typically, the more followers they have on social media the more audience a brand can tap into by working with that influencer. However, having a large following alone isn’t enough to say they are highly influential. Almost anyone can pay a few bucks to buy followers on any social media network.
What’s important after followers is how the influencer engages with their followers. For example, the most popular influencers are Instagram influencers. If an influencer uploads a post or shares a story, how many followers begin to engage right after it goes live? By checking out how many followers engaged with the post compared to the total number of followers, you can determine what is called the “engagement rate,” which is really what’s key to pin pointing the level of influence an influencer has.
Where Do You Find The Right Influencers?
Some of the hottest places to find influencers is on social media. The top social media networks that are most effective in 2018 are Facebook, Instagram, and YouTube. Since there are millions of users on these popular social media platforms, it’s actually a challenge for many brands to find the right influencer.
Hooking up with influencer marketing platforms such as Revfluence, Upfluence, Social Bond, etc. can lessen the burden of looking through millions of social media users. Some of these platforms provide meaningful details related to influencers which makes it so much easier to find the right one for your brand. For example, Social Bond provides a filter which helps narrow down influencers based on follower demographics as well as key influencer details. You can find the right influencer for you brand by selecting what industry you’re in, what audience you are trying to target, and how much your looking to invest in influencers.
What Can Influencer Marketing Do For You?
Influencer marketing can do several things for your brand. Here is brief list:
The return on investment is HUGE compared to other marketing strategies. Many statistics have proven that you can earn up to $6.50 for every $1.00 spent on an influencer marketing campaign. And that’s not all, you don’t even have to invest a whole lot to reap its benefits. The best types of influencers to invest in are micro-influencers which according to studies charge $250 or less per Instagram post. Not all micro-influencers agree on that but about 84% of them do. Imagine spending $250 and gaining $1625 in a matter of a week or two. Nice, right?
Note: Micro-influencers are social media users who have a following range between 1,000 – 10,000. They typically specialize in one niche area and can deeply engage with their audience by having strong ties with their followers.
Builds Your Credibility
When you work with influencers, you work with individuals who have authority in what they do. Followers listen to them and take their advice to heart. When your brand gets mentioned in a positive light, your brand will gain its own authority. By reaching out to multiple influencers, so many people will see your brand as an emitting light they would want to follow and enjoy.
By collaborating with many influencers, you also get the benefit of tapping into new audiences. Every influencer has their own crowd and by investing in a few you can gain reach to a population anywhere across the world. Statistics show that with a budget of $5000 USD you can reach 200,000 Instagram followers or 125,000 Facebook users, 315,000 Twitter followers, or 315,000 blog subscribers.
Where can you start?
As a brand, you can start by going on Instagram and searching for popular users in your area that make posts related to your product or service. Or you can check out awesome influencer marketing platforms to help make that task a lot easier.
Now you understand what influencer marketing is all about and how to measure influence, you can push your brand to the next level of marketing. Spend less to earn more, make your brand known, and then spread it across the right influencers. You now know what to do to get them so go for it and act fast because time is of the essence.