Influencers are the ideal marketing strategy as a way to reach your target audience, build and promote your brand, and give you a higher return for a fraction of your marketing budget.

Maintaining the relevance of your company’s brand or service to the consumer has become increasingly complex and sometimes a daunting task for marketing firms. Businesses should look no further than to the revelation of the social media influencer.

The influencer is here to stay and the early bird gets the worm if you haven’t already. Companies should jump on board with the social media influencer marketing success.  

Influencers are making a huge impact on e-commerce with their large devoted audience base that is engaging and relies on their influencer to share with them honest and constant information. This is the perfect scenario for a brand or service to benefit from using an influencer in their target market. 

The Social Media Influencer the Game Changer for Marketing in a Modern Era

A Social Media Influencer is an individual on a social media platform who shares authentic and valuable information with a large number of their followers. They have built up a huge fan base on their social media platforms who trust these influencers to recommend brands or services that are reputable.

It can be a specific industry with a particular style and the internet is no short of them, Instagram alone is home to a half-million influencers.

These influencers have become so valuable to brands, through the influencer they have the ability to provide campaigns with exposure, increase visibility, and shape purchasing decisions by the consumer. 

Through the right influencer, a brand has the ability to strengthen its reputation and connect with its target audience. 

Provided the campaign is created effectively companies should see a higher return on their investment. Eleven times higher ROI compared to other digital marketing channels. 

An influencer can make a post, story, or 60-second video for a fraction of companies marketing budget. 

Type of Influencers and Their Tiers

There are five tiers of social media influencers with a diverse range in costs for their services. 

Nano and micro-influencers, although this group is small can be very beneficial. Their followers range from 1,000 to 50,000 and the cost per story or video is affordable, anywhere from 5 – 25 dollars per story or video for a nano influencer and $25 – $125 for micro-influencers digital posts. This can be helpful for a smaller business that does not have a large marketing budget.

Mid-tier influencers have 50,000 to 500,000 followers on their social media platforms and as the followers increase so will their paycheck. For a story, post, or 60-second video this could cost your budget anywhere from 125 to 1,250 dollars. 

Then there are the big dogs the best in their industry with a devoted following to prove it. Macro influencers have 500,000 to 1 million followers and will cost anywhere between 1,250 to 2,500 per story, post, or 60-second video. 

The best of the best mega influencer with 1 million-plus fan. These influencers have a huge audience depending on your budget and the campaign these influencers will range between 2,500 and upward of 10,000 dollars in some cases more. 

Costs may vary depending on the influencer and the campaign.

However, once a marketing firm finds its influencer brands stay for the long-term building a sustainable relationship with their influencer.

TIP

Here is a tip on figuring out the calculated rate for your influencer. For an influencer’s engagement rate, you would simply divide the average number of likes and comments on a post, divide by the number of followers, then multiply it by 100 to determine their percentage rate.

Statistics That Match the Hype

As per the Tomoson Study, for every dollar businesses spend on an influencer marketing their product, service, or brand, they are taking $6.50. This is the most cost-effective digital marketing tool over display advertisements and email ads.

Neilson data says, “92% of users are convinced to buy products when an influencer recommends them rather than the brand itself or a banner ad and billboard. Essentially these influencers are trusted by the people who follow them.”

Influencermarketinghub.com says, “the influencer marketing industry is expected to reach 16.4 billion by the end of 2022.” Worldwide 18,900 companies and service providers support the influencer industry. Instagram seems to be the preferred choice, 79% of all companies use Instagram over any other social media platform. 

With the surge of social media influencers, technology has paved its way as well in this industry. Influencer marketing platforms, SaaS, or Software as a service are popping up all over the internet. Need an influencer this software will find one for you, in the industry of your choice with your desired amount of followers. Grin Grin or Creator Co is the leading SaaS influencer platform. 

Traditional Marketing v Social Media Influencers

Marketing firms have a new and innovative channel now to advertise their client’s brand or service by using an influencer in their target market, who can reach their audience in less time and for a fraction of the price to do.

The use of traditional marketing in billboards, TV commercials, radio ads, or print media is becoming increasingly less cost-effective. What social media influencers can do in weeks or months in the past might have normally taken years for traditional marketing to achieve. 

Influencers have multiple channels Instagram, Facebook, YouTube, Blogs, Twitter, TikTok, Snapchat, Telegram, Pinterest, and Twitch, with more on the way. There is an increase in new social media platforms and what better marketing tool than the device attached to your hand. 

Michelle Klein, Head of Marketing North America at Facebook says, “The average adult looks to their phone 30 times a day on average, millennials increase that number by five times, 150 times a day, and Generation Z spend anywhere from 5 to 10 hours a day on their smartphone.” By using an influencer when marketing a brand or service you are reaching your target audience in a fraction of the time it would have taken to do so by using traditional marketing techniques.

Big-name companies such as Adidas, Motorola, Pepsi, Uber Eats, Dunkin Donuts, Revlon, Sprint, Audible, Bigelow Tea, and many more 93% to be more precise, took a chance early on with influencers and received excellent results.

Social Media Influencers put these brands on the map and helped their brand grow, Banza, ButcherBox, Glossier, Leesa, and MVMT. After these brands found influencers, their voices became trusted advocates elevating these brands based primarily on finding their target audience quickly.

Be A Positive Influence

As influencers grow the government has amped up stricter guidelines. It is important for brands to uphold their integrity, especially when using an influencer where minors are watching. 

You want to improve your brand awareness and build trust while being valuable to your community. 

Provided brands adhere to these guidelines the reward can be limitless. Companies can easily enrich their content strategy and effectively reach their target audience while building a long-lasting partnership with their influencer. This is why we are seeing an influx of marketing companies using influencers to carry out the task of marketing a brand to their target audience. Influencers are the ideal marketing strategy as a way to reach your target audience, build and promote your brand, and give you a higher return for a fraction of your marketing budget.