What is Influencer Marketing and How Can You Benefit From It?
In the rapidly expanding industry of niche marketing, influencer marketing has established itself as one of the most effective methods of spreading brand awareness and efficiently engaging target demographics – often at much lower prices than other forms of marketing. So, what is influencer marketing and how can you use it to expand your business.
Influencer marketing revolves around using key individuals – aptly called ‘influencers’ – to promote your product. In the age of the social media star, these influencers are often celebrities within their niche, engaging thousands, maybe even millions, of consumers in their pre-existing Instagram, Youtube, or blogging audiences. Either through direct sponsorships or by establishing relationships with influencers (e.g. providing your product or service without any explicit requirements on the influencer), brands can feature their product in a forum with a built-in audience that is composed of many members of their key demographic.
Before influencer marketing can begin, brand managers first need to identify which influencers they want to work with. While the most prominent influencer in a given relevant industry may be the most obvious choice, keep in mind that many social media stars are already sponsored by larger brands, and may charge more or less based on the size of their audience and experience with the process. Smaller brands looking to engage a niche audience may be better off identifying a rising star whose blog or Youtube account is quickly growing but has not yet reached the stratospheric heights of the Tyler Oakley’s or Jen Selter’s of the world. Rising social media stars may be more likely to partner with your brand, featuring your product in their media in exchange for services rather than direct payment. This type of partnership is beneficial in more than one way – if your service is good enough you may have just earned a lifelong promoter!
If your brand is looking to try influencer marketing, contact It Crowd Marketing for help navigating this exciting process. Our branding experts would love to chat with you about what your business needs to cultivate consumer awareness and increase consumer engagement. We can’t wait to start building your influence!