Unsure of what influencer marketing is? We’ve got your back! Below is a short breakdown of what it is and how it works.
How Is Influencer Marketing Done?
By being present on almost any social media, you have almost certainly been exposed to influencer marketing. Even though this phenomenon has risen to popularity recently, it is not an entirely new concept.
Influencer marketing has made it possible for companies to reach consumers in an indirect way, so it doesn’t look like a traditional advertisement. It has proved to be a powerful way to market products and brands, and this is because companies benefit from the relationship between influencer and follower.
In practice, influencer marketing is when a company and an influencer get in contact, and decide for the influencer to endorse one or more of the company’s products. The company might have specific requests, as to which and how many social media platforms these endorsements should occur on.
What Is An Influencer?
With social media, individuals have been provided an online platform to express themselves on. This has caused some people to rise in popularity and gain an extensive following, outside of their real life network.
When a person’s presence on social media has given them a loyal following, they are defined as influencers. However, the term influencer can spread over a wide variety of occupations and types of people. Some of the examples are:
- Opinion leaders
- Brand advocates
- And the list goes on…
So, anyone can become an influencer as long as they have a following who value their opinion. However, the types of influencers above fit into the categories of micro and expert influencers.
Micro influencers are people with a lower following count (under 5k across platforms). They represent the lowest part of the pyramid (below) and count as the majority of influencers. They are good for triggering their followers’ purchase decisions. They are relatable and have high credibility. They make a good fit for small businesses with a limited marketing budget. This is because they usually don’t charge a lot, and because the chance of an average to high ROI is highly possible.
Experts influencers (two top elements of the pyramid) are people with some kind of authority. Either in the industry they work in or because they have celebrity status. They are a good fit for larger companies with bigger marketing budgets. Expert influencers can create a higher brand awareness and even contribute to shaping the brands themselves. Their opinion is respected not only by their followers but in some cases also by the entire industry, which makes them extremely powerful.
At Woomio we are primarily working with expert influencers. We connect businesses with the right expert influencers. We assist the companies we work with through the entire match-making process.