10 Frequently Asked Questions on Influencer Marketing
10 Frequently Asked Questions on Influencer Marketing
1. What is Influencer Marketing?
This one seems obvious, but it’s important in the sense that you must truly know what influencer marketing really is if you hope to get the most out of it. Influencer marketing is the practice of using individuals with a sizable social media audience to promote your brand’s product, service, or message through the creation and of authentic and engaging content. These individuals have influence over potential customers – no pun intended – and they work directly with brands to create content that markets a product or service in a non-disruptive fashion.
Truth be told, influencer marketing has been around for decades. While the act of influencing has been around since the beginning of time, the first examples of early ‘influencer marketing’ can be traced back to the early 1900s. During this time, baseball superstar and global icon Babe Ruth was in his prime, and transforming the game of baseball into America’s pastime.
Ruth endorsed a multitude of different companies in the early 1900s as a result of his global popularity and massive following. Companies brave enough to embark on this venture were the first to witness the successes of influencer marketing, as the companies Babe Ruth endorsed often saw large sales spikes as a result of endorsement. From there, this ‘new’ type of marketing only continued to grow.
We are no longer in the early 1900s, and influencer marketing takes a much different shape today than it did when the Great Bambino was still hitting moonshots out of Yankee Stadium. The invention of the internet forever changed the world, and new technologies and methods of communication made their way to the forefront of modern society.
2. How Do I Find Influencers?
Anybody with a little bit of budget and a simple grasp of the concept can plan and activate an influencer campaign. But how you find influencers? And how do you find the right ones?
You can take an organic approach and try to locate influencers by scrolling through the web and browsing social media platforms like Instagram. Or, you can utilize an influencer marketing platform. Many of these influencer platforms offer search engines that allow you to search keywords, which can assist you in making a more educated decision on which influencer(s) to partner with for your campaign. It’s essential that brands keep in mind their audience demographics and target audience to ensure that the influencer they choose to partner with has aligning interests with that of their core demographic.
3. How Much Does it Cost To Run an Influencer Campaign?
Each influencer campaign is custom-tailored to suit the client’s needs, so it’s somewhat difficult to provide a standard pricing guideline. Costs can vary dramatically from one agency to another, and prices also fluctuate based on various factors. These can include the number of influencers you plan to partner with, labor costs, total influencer compensation, and any additional digital ad spend needed to promote the campaign.
Here at Viral Nation, we offer premium services that allow brands to dive deeper into demographic insights, which helps to narrow down the list of potential influencers into a pool of creators that customers are likely to respond to and engage with.
We only do marketing that works.
4. What Steps are Required to Launch a Successful Influencer Campaign?
While many brands make promises that their tactics can guarantee genuine, authentic results, this is not always the case. Successsful influencer campaigns are not the result of an agency simply stating they have the expertise, experience, and client base to bring you top-notch results. You need to have a step-by-step plan for your influencer initiatives. Here at Viral Nation, we customize each and every campaign so that our clients can be part of the process from start to finish. It’s difficult to sum up the required steps to launch a successful influencer campaign in a few short sentences. But we will try our best.
Essentially, the steps start with selecting the right influencers who are the right fit for your brand. From there, influencers need to create the right content, at the right time, in the right place. You can find a more detailed answer to this question in our influencer marketing strategy blog post.
5. What Exactly is a Micro-Influencer?
It’s one of those terms that has been bouncing around marketing circles in recent years. We all have an idea of what an ‘influencer’ is. But what exactly is a micro-influencer?
A micro-influencer is categorized as an influencer whose audience size ranges from 10,000 to 100,000 followers. The term micro-influencers was coined so that brands could distinguish the influencers who drive high content engagement but do not necessarily have millions of people in their social media audience.
6. How Do Influencers Know What Type of Content to Create?
As an organization, we pride ourselves on our attention to detail. Agencies like Viral Nation take the time to understand a client’s goals – from their primary KPIs down to the “type” of content they’d like to see produced by the influencers they choose to partner with. Our team ensures that we have all the pertinent details needed to provide to influencers before the campaign kicks off. This ensures that all parties involved are aligned on focused on the campaign targets and primary goals.
With that said, creative freedom should always remain with the influencer. It’s a rare occurrence for influencers to be given explicit instructions or guidelines on exactly what type of content they should create. Remember, influencers built their brand themselves, so no one knows what kind of content will resonate best with their audience better than they do. They’re the experts, so treat them as such. Let them do their job and only provide direction when absolutely needed. They will take care of the rest.
7. Which Social Media Platforms Drive the Most ROI?
This is a tricky question because different networks offer both their benefits and their drawbacks. And when it comes to ROI, every brand focuses primarily on the bottom line. But at the end of the day, it all comes down to what you are primarily trying to accomplish.
Generally speaking, Facebook is best for brand awareness and building a community. Platforms like LinkedIn are great for building authority, generating B2B leads, and increasing website traffic. Instagram is arguably the current king of influencer platforms and is wonderful for product launches and customer engagement. Then there are platforms like Twitter that are great for generating clicks and shares and also engaging with current customers.
8. How Much Do Influencers Charge?
We considered moving this one up higher on the list because its arguably the most frequently asked influencer marketing question today. However, we regret to inform you that unfortunately, there is no clear cut answer to this question. We all know about the Kylie Jenner’s of the world and there six to seven-figure asking price for a single Instagram post or Story frame. But we also know that this is not the industry standard, nor does it reflect the accurate pricing scale of influencers today.
However, different influencer marketing agencies pay different rates, which are based on various factors and differ for both individuals and campaigns. In some cases, influencers have their own base price that they are looking to get paid. On the other hand, you have other influencers who are happy to negotiate their compensation based on the specific ask that applies to each campaign.
For more information on what influencers charge for their services, check out our blog post on Instagram influencer pricing.
9. Does The Brand or the Influencer Own the Content?
In most situations, influencers will retain the rights to the content they produce for your campaign. They often apply a ‘shelf life’ to their posts, which is typically negotiated before signing on the dotted line. However, in certain situations, brands can create contingencies within their contracts with influencers that the brand retains exclusive rights to use the content for a certain period of time – sometimes, even indefinitely.
If the contract doesn’t disclose any details about the ownership of intellectual property rights, then the influencer technically has the copyright on that content and all rights associated with the copyright. In lieu of this, we highly suggest reviewing these potential stipulations when negotiating influencer contract terms.
10. How Do I Know if My Influencer Marketing Campaign Is Successful?
It’s important to remember that when it comes to influencer marketing, every campaign is relative! The success of your campaign is largely dependent upon your objective.
For example, if your primary objective is to increase sales, a campaign that is built around bringing in new customers and producing more sales would be considered a successful approach. But if your campaign’s core objective is to, say, increase engagements on a specific social media platform, then the number of followers you gain or engagements you produce will be the best way to measure your success. To gauge whether or not an influencer campaign is successful or not, you must first establish an objective and then measure against it.