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4 Things You Need to Know About Influencer Marketing

By: Brittany Engelmann-- 2017-02-10 7:02 am --

In “The Tipping Point” Malcolm Gladwell refers to a group of individuals he calls “mavens”. Mavens are information brokers who share their knowledge with others for the sole purpose of helping them, creating a foundation of trust in the process. This is what we have come to refer to as influencer marketing.

Influencer marketing is when a business identifies key leaders to deliver their message to consumers rather than relying on typical advertising strategies. Influencer marketing works because consumers are tired of being sold to. 92 percent of consumers trust recommendations from other people over paid advertisements according to research done by influencer marketing platform the Shelf. Social media channels make influencer marketing even more powerful because it is easier than ever to reach a large number of people.

If you are thinking about trying influencer marketing here are four things you need to know before you start:

Influencer marketing is not the same thing as a celebrity endorsement.

It is easy to see where these two strategies overlap but they aren’t synonymous. Influencers are specialists who have built communities in a very specific niche. Justin Bieber doesn’t need any level of expertise to pose in a pair of Calvin Klein underwear. Reach is important but a person’s level of passion, knowledge, and trustworthiness are more valuable ways to measure influence.

To be effective, influencer marketing must be authentic.

Influencers create impact because people trust them and they can effectively produce and promote their content. They understand that their audience trusts them so they won’t just form a partnership with the first company that offers them money. To promote your company they will have to genuinely like and believe in your product. 

Bigger isn’t always better.

As you begin looking for the right influencer it is not necessarily the size of their audience that you should pay attention to but rather the level of engagement. It’s hard to feel a connection to someone with hundreds of thousands of followers.

Markerly did a study of over 800,000 Instagram users and found that users who have 1,000 followers or less have an average engagement rate of 8 percent on their posts. When the followers increase from 1,000 to 10,000 the engagement rate drops to 4 percent. And once someone reaches 10 million followers their engagement rate drops to 1.6 percent. 

Influencer marketing should create a conversation.

Consumers now have immediate access to information and this has changed the way they interact with brands. Social media allows people to gather information about products and make a decision based on what they find. Many companies use social media to connect with their customers by participating in this online conversation. 

Advertisements distract people and draw their attention away from what is important. Influencer marketing allows you to create a conversation not just about your brand but about topics where you brand could play a meaningful role.

At DollarDays, we know that that trust is a key factor in building long-term relationships with your customers. Contact us for information on partnering with DollarDays as your primary supplier.