Here is a Deep Dive into Influencer Marketing and why you Might need it.
Updated: Oct 5, 2022
With so many different methods of marketing out there, you need to know which one is worth investing into and which are going to be most effective for your business. One Industry that has blown up in popularity in recent years is Influencer marketing. With nearly $15 billion net income for the industry, its something worth looking into.
But what exactly is Influencer marketing and why should you get involved in it? Is it effective for your type of product? Let's take a look!
When brands collaborate with online content creators to have them promote their goods and services this is called influencer marketing, it has proven so effective that the average brand will spend nearly $10,000 a year alone on single influencers to promote their business. With the rise of social media content being posted every day on numerous platforms, there really is no wonder that It’s proven such an effective business strategy.
TikTok, Instagram, YouTube, Twitch; There is really no end to the types of sources you can output your credibility too. Influencers range in all different types of personalities and audience sizes you can basically choose from a multitude of different demographics at your disposal to be able to grow your own audience.
But how do you know which one would be right for you? With so many to choose from, picking the wrong influencer to promote your business can actually hurt you, in the long run, more than it would help.
Types of Influencers.
These basically go by the size of the outreach for influencers. For context, outreach is the number of engaged audience members the influencer has on all of their platforms
Nano-Influencers are influencers that are essentially just starting out. These can vary in size but usually max out respectively at about 10,000 followers, subscribers, etc. The best thing about these individuals is that they typically don’t realize how much they could earn from their services and cost x2 as cheap as the next influencer.
Micro-Influencers are the most common influencers used in the market today, they can be anywhere between the 10k to 50k engagers range. Its been proven though that these influencers are the most efficient and effective at getting your business the growth you need to succeed or at least to get your foot in the door for a startup.
Macro-Influencers are what everyone would typically think about when it comes to a successful influencer. These are the ones that would be considered businesses on their own. With an outreach of typically around 100k to 500k, they can charge somewhere around the thousands of dollars just for a single post about your business. However, they are very lucrative in promotion value.
These are the cream of the crops, they offer the most influential outreach for your business, so much so, that they can even influence other influencers to promote your business if it proves effective for their businesses. Typically in the 1 million to 10 million range, you can imagine they cost a pretty penny to work with.
So now that you have a decent idea of the different types of influencers, let's take a look at the best platforms you can be utilizing to be promoting your brand.
Pinterest is one of the biggest eCommerce startup websites in the world. With 72% of users online claiming they shop on Pinterest, it’s really no surprise that we included this one. There are a multitude of different business strategies you can apply on Pinterest. But when it comes to influencers, you can look into influencers just by keyword searching products that are similar to what you plan to sell.
The platform uses monthly analytics to determine the worth of the influencers outreach instead of traditional methods like followers or subscribers. Typically, influencers on Pinterest are cheaper than counter sites like Youtube or Instagram.
Facebook has its own marketplace and is one of the biggest social media platforms in the world. Even with all the controversies for privacy rights, Facebook stands out among the rest because of its practicality and amount of users that use the platform. Influencers here are more than effective as they have more tools at their disposal. Its easy to track your metric data as far as what the influencer is doing to help your business grow.
Youtube / TikTok
Video Promotion is becoming the new industry standard. With the rise of platforms like tiktok and its fast viewing methods or with Youtube Shorts following suit, there is no better time to get involved! Tiktok averages 1 billion users monthly and Youtube has over 51 million influencers at its disposal. The range of potential you can be increasing your outreach with is tremendous with this market and these platforms are a no-brainer.
Instagram / Twitter
Elon Musk has recently acquired majority shareholdings of the biggest social media service “Twitter” with the proactive business model of “Free speech” in mind, Twitter accounts for over 180 million active users and continues to improve that number daily. Influencers on this platform are easy to run into as there is no limit to the potential. Posts can be direct links, videos, pictures, and recently even “Stages” in the form of podcasts that get promoted on the top of mobile dashboards are promoted over other posts regardless if you follow them or not. This is an ideal space to get into.
Instagram practically operates the same way, with 61% of its userbase being mostly female and 72% of it being teenagers, this is a demanding demographic that most businesses are trying to take advantage of. With the most used feature on this platform being posts and stories like Snapchat most influencers are able to visually represent your brand in monumental ways. The only downside Is the majority of its platform is an influencer and it can be hard to know which one will effectively give you the growth you need.
There are many different platforms to choose from and each with their own respective social outreach, and demographic. With this in mind how can we make it easier for you to know which to choose from?
There are a multitude of businesses out there that can actually funnel the process of finding effective influencer marketing strategies for you! Websites like NinjaOutreach, Grin, Or even Klear, can actually give you the tools you need or agents to help you find the best reliable influencer with your own prospects in mind. Utilizing their own business strategies and insight you can easily take stress off your shoulders for a small sum to get the job done faster!
Influencer marketing is becoming the standard to business promotion. Billboards and TV promotion are becoming less and less appealing especially if your target audience is under 30 years of age. We highly recommend that you do your own research to find the best effective solution for your business model.
We talk all the time about growth potential for your eCommerce business, but did you know that 3PLs are actually a great networking partner all on their own? They are a 3rd party operation after all. Being able to work with different clients all the time, we can keep your business not only afloat, but we can also fulfill your eCommerce needs from warehousing, shipping of your product, and even fulfillment of your client orders in a timely manner. Black Mountain Fulfillment can be the foundation for your future. Feel free to check out our contact us page for more information!