Influencers have invaded our lives in many ways, maybe even too many, but it’s clear that they’re here to stay, at least for a dozen more years. Putting aside all the possible social, familial, and psychological effects of this, we cannot ignore the economic potential of it, and many companies haven’t. From Fortune 500 companies all the way down to your local, small businesses, many are hopping on the influencer marketing train.
Perhaps the best example of a success story for influencer marketing is Daniel Wellington, a watch company that went from zero to $280 million in revenue in just 7 years and was named the fastest growing company in Europe in 2017. The main marketing strategy for the Swedish company is influencer marketing.
In 2018, they topped Socialbakers’ list of number of mentions and influencers with 20,873 mentions from 7,242 influencers. To give you some perspective, the other nine companies on the list had 15,878 mentions from 7,412 combined. So the potential of influencer marketing is quite clear now, maybe not everyone is going to make $280 mil in 7 years, but there’s definitely some good money to be made through it.
Now, who are the influencers? Influencers are people who have an impact on their followers and can affect their purchases and choices based on the influencers’ knowledge, authority, and the type of relationship they have with their followers. Influencers come in many shapes and forms, but they generally belong to one of the following categories.
First, the celebrities. These people had already become famous from doing other things such as music, singing, acting, modeling, etc. They have a special authority in some sectors; a model promoting a pair of sunglasses or a type perfumes for instance, or an actor promoting a vacation spot for the summer.
This type isn’t exactly new, these are the same people whom we saw (and still see) on TV and magazines ads, but they just added another platform under their belts.
Second, we have the bloggers and content creators. These people usually work in sectors that are more specific, but still broad enough to reach many people, which is a great thing if you want to target a couple of buyer personas.
Another good thing about these influencers is that their fame sprouts from their content, so you can personally check it out and see if it’s right for your company, if it complements your product, and how good their content is.
The third type, and the one currently experiencing a huge surge in popularity, is micro-influencers. You thought bloggers and content creators were for specific sectors? Think again. These influencers deal with niches.
Micro-influencers are normal, everyday people who have amassed somewhere between 10,000 and 100,000 followers. Yes, this number seems tiny when compared to one or two million followers for celebrities, but the beauty in this small number is that the influencers can have and sustain an actual relationship with their followers.
It also means that a huge chunk of the followers is very interested in the niche that the influencer is in.
Why should you do it? I know that some people are still on the fence about it, but I think it’s quite clear now that this type of marketing has an enormous potential and can help you grow your brand awareness.
Since you’re spending money on marketing, why not choose influencers, who a) have established trust and loyalty with their followers, b) can help you target the audience you want, regardless how niche it is, and c) will actually help you improve your SEO ranking.
There are more reasons for why you should opt for influencers, like the fact that “influencing” is the bread and butter for some of these influencers, which can assure they’re going to do it to the best of their abilities. The stats don’t lie, and influencer marketing is becoming bigger and bigger, so don’t miss that train, everyone else isn’t.