5 Minute Guide to Influencer Marketing 2019
For all you small business owners out there battling to navigate the choppy seas of social media marketing, we at DoubleTapp want to help! We wanted to produce a quick and easy guide to Influencer Marketing in 2019 which is set to be the biggest year yet for this new exciting marketing space.
What is an Influencer?
We hear it all the time but what are they? Influencers were once the globally recognised celebs, the sports stars, models, actors, singers... you name it. More commonly, Influencer is being defined now as a user who has established credibility in a certain field and built up an engaged following as a result.
Perhaps they started blogging about their experience with various restaurants, or they upload youtube demonstrating how they apply the latest beauty products. Their followers know what they are following for and as a result, the eyes these influencers attract are targeted and most of all engaged. (Engaged is an important term that will play a part throughout this guide)
I want to interject here and say that we may be getting too hung up on the terminology. Influencer really means anyone with influence. Whoever you are reading this, you are an influencer! I am an influencer... Everyone who has any form of communication with another human being is by definition an influencer. More on this later....
Influencer marketing is essentially finding influencers with a following most relevant to your line of business and having them publicise your products.
Why Influencer Marketing?
Why not a billboard, a TV ad, or a good old fashioned 2 page spread in a magazine? Well, 3 main reasons here.
Firstly, engagement. As we have already mentioned, the engagement in the followings of Influencers are highly engaged. They followed this influencer for a specific reason and this inherently means that they care a lot about what this person has to say.
Secondly, targeted. The followings of influencers are by their very nature, targeted. You wouldn't follow a food blogger hoping for news about the latest car released by BMW now would you? Having a targeted audience for your advertising is incredibly powerful, it will increase conversions given that a higher percentage of the impressions made by your advertisement will be impressions on the truly impressionable. In Leymans terms, that food blogger being followed by those that like to eat out regularly means that a post about your restaurant to that audience falls on highly receptive ears... actually, eyes would seem more appropriate!
Thirdly, BUZZ WORD WARNING, User Generated Content. Yes that's right, the content produced by an influencer to market your product is defined as user generated content, as is anything produced and shared online by any user of a social media platform. If you have ever taken a picture of your starbucks coffee because the barista comically managed to mistake "Ash" for "Ass" then you are creating UGC yourself... and yes, that has happened before. User generated content has been shown to be up to 4 times more effective than content produced by the business themselves. Why? It just seems more genuine. We have all seen the mouth watering pictures produced by fast food restaurants only to be served with something that looks like it it had a severe altercation with Mike Tyson.
What do you need to think about when choosing Influencers?
So Influencer marketing is easy right? Find someone who has influence in a field most relevant to your business, pay them a bunch of cash and ask them to post content about how great you are. Well, not quite.
Engagement, audience demographic, following size, content style. These are all things you must think about before partnering with an Influencer if you want your campaign to be most successful There are plenty of amazing resources and companies to help you do this.
Companies such as Upfluence and Traackr help you find influencers and manage your campaigns all on one easy to use platform. You can understand how legitimate the engagement of an influencer is as well as a host of other important metrics to make sure you use the right influencer for your business.
Influencer Marketing Trends
This year Social media marketing spend is set to take over TV, now when you think about it, that is huge and if you had have suggested that 20 years ago... well, people would have probably asked what on earth is social media but you get the point I am trying to make. This year is set to be the biggest year yet in the realm of Influencer marketing also, the below chart shows the global spending forecast for Influencer Marketing.
We also expect followings to decrease and engagement to increase. Why is that? Well Facebook (Owners of Instagram) are making some key changes to the way people can push data into their platforms ad well as take it out. We won't get technical but the long and short of it is a positive for Influencer marketing as the fake followers and likes will slowly disappear, or so we hope! If you want to learn more, check out this article.
So Influencers are the way forward?
But once I have the right influencer, it's a sure thing though right? Again, sadly not.
Influencer credibility is on a downward trend. In the recent hit Netflix documentary about the Fyre Festival, some serious questions about influencer marketing has come to light. In a recent survey 52% of millennials said they trust influencers less than they used to. We only see that trend accelerating especially in light of recent events such as the #FyreFestival. Mega Influencers such as Kylie Jenner and Bella Hadid have been criticised for taking large sums of money to post about a festival that turned out to be a disaster. If you haven't watched the Netflix documentary then, what planet are you living on? Only kidding, I only watched it myself the other day but was completely unprepared for it.
The meteoric rise in influencer marketing will in part be its own downfall. It is now a lucrative career path to develop a following in a particular niche and then start plugging products for cash. Now we are by no means saying that all influencers are this way inclined and in fact most realise that their followings depend on largely informative and impartial advice. However bad apples really can spoil the bunch!
Also engagement levels among influencers are on the decline and often engagement can be bolstered with bots and fake likes. Up to 20% of mid-level Influencers' followings are likely fraudulent.
What are Nano Influencers?
Now we really are diving headfirst into buzz word boredom territory, but it's worth it, please bare with me.. Nano Influencers are a real thing and has featured in the NY Times, The Times and The Guardian among many others, but again we want you to scrap the label and realise every single person is an Influencer. The reason I want to highlight these under their given pseudonym is because they reflect a trend in marketing approach. We started with celebs, we moved to influencer, we then decided micro influencers were the way forward and now we worship nano influencers as the holy grail of marketing. Why? It is simply because we are chasing the elixir known as ENGAGEMENT.
Nano Influencers have 6x the engagement of Influencers. Engagement means their post isn't just overlooked, and your hard earned business revenue that you wisely spent on influencer marketing isn't being wasted!
But how do you leverage Nano Influencers?
Now, here is where it gets very tricky. 'Nano' means small, so I am told. And so given they have smaller followings, getting a large number of impressions for your marketing campaign is going to be tough using people with such small followings. You can make use of the flurry of agencies and platforms springing up to try and filter and manage such influencers but again this is time intensive and for most businesses, not yet scalable. This is time you could be investing into improving your products and better serving your customers.
Well, imagine turning all of your customers into nano influencers, into your own army of cheerleaders for your business. And imagine doing so by paying them in free products that encourage them to come back over and over again.
What you are imagining is the world that DoubleTapp intends to create. We have created a platform that allows you to reward your customers for posting about your business on Social Media.
Quick pop quiz, what's so great about influencers again?
- Engaged audiences
- Targeted audiences
- User Generated Content
Well, your customers are normal people, they have the highest engagement of all!
They also often have an inherently targeted audience both location wise and demographic. Think about it, I live in south west London, the people I meet and are followed by are often based in the same location and so my following becomes highly skewed to others in my area, the same goes for my interests!
Everything your customers post about you is User Generated Content.
Another pop quiz, what is the main issue with Influencers?
Thats right, you're on fire today. Credibility.
Do you think your customers would post about your business in order to get a discount or freebie on their next visit if they didn't even like your business? No. DoubleTapp creates an environment where organic and genuine recommendations are king.
Would you have to spend hours finding the right influencers, managing the campaigns, analysing the results and then pay in actual cash for the luxury?
Well with DoubleTapp you simply sign up, create a reward and let the platform work its magic. We will analyse the results and give you clear and precise snapshots of the key data points. You also don't have to pay these influencers a penny. In fact, all you do is encourage tighter customer relationships and higher customer loyalty. You pay them in a way that gets them back in the door and more than likely, spending more on your business.
We certainly agree that influencer marketing is the future. We just think you redefine what an influencer is.