Nowadays, everyone wants to be an influencer. Desiring a large platform is nothing new, of course, but being able to get paid lucratively for that platform is becoming more-and-more plausible.
If you are a company paying an influencer to help with your brand’s marketing, meanwhile, research shows it could turn out to be a mutually beneficial relationship.
According to data from Tomoson, influencer marketing is the fastest-growing channel when it comes to customer acquisition.
“Businesses are making $6.50 for each $1 spent on influencer marketing, with the top 13% earning $20 or more,” said Tomoson. “A resounding 70% are earning $2 or more, with the rest either breaking even or failing to generate a return on investment.”
In addition to its fast growth and positive return on investment, the software service aimed at helping facilitate influencer and micro-influencer outreach found influencer marketing to be more cost-effective than organic and paid search.
“Social media users tend to spend more money and are more likely to spread the word to friends and family,” said Tomoson CEO Jeff Foster.
The study also found that 51% of businesses who used influencer marketing attracted a higher quality of customer. This doesn’t come without cost, however, with the highest-quality influencers attracting a large price tag.
According to Instagram analytics tool company Hopper HQ, celebrities like The Rock, Kylie Jenner and Cristiano Ronaldo can earn more than $1 million per post. All three boast over 200 million Instagram followers.
If your company can’t afford to pay top dollar to a mega-influencer, one way to find a potential ad partner is by using Google+ Ripples.
The Google software allows you to track who is organically sharing your SEO content online, shows you who they really are and gives you information on how to connect with them directly.
Assuming they are a person who can give your product good visibility, forming a partnership with someone who already supports your brand is a great way to start a mutually beneficial relationship.
It is also wise to target influencers who support and share products from similar brands, information you can also find from using Google+ Ripples.
Using analytics and paying attention to the demographics of your influencer of a choice is a great foundation for success in influencer marketing.
Like everything social media these days, it is all about the connections you make and the effort you put into getting your name and brand out there.
Getting on the radar of today’s biggest influencers is possible, and you can be comfortable you are setting up your business with a successful marketing strategy.