Influencer marketing, for many businesses, has been a make or break activity. eCommerce brands often hop onto this new eCommerce marketing channel and often lack a solid understanding of what to do.
For instance, there’s a misconception that you need to hire an influencer with over 100,000 followers and that will give you the most brand awareness. However, this is not necessarily the case.
What many marketers and eCommerce entrepreneurs may not know is, the Instagram trends for influencer marketing are making a major shift.
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The change started in 2016 when Sperry Shoes used over 100 micro-influencers to create unique content for their Instagram account.
This micro-influencer campaign gave an authentic feel to the brand. The campaign resulted in Sperry showcasing all the influencers wearing Sperry’s shoes and that highlighted how regular everyday people wear Sperry shoes.
For your eCommerce brand, you need to explore the other sides of influencer marketing and how it can benefit your brand.
Not Getting The Traction You Expected?
eCommerce brands have this strong intent to get as much traction as possible from influencers, and of course, that’s going to be an important element to influencer marketing strategy.
Traction can either mean building brand awareness initiative or driving higher conversions.
This desperation to successfully and simultaneously achieve both can lead to eCommerce brands overpaying influencers who aren’t actually bringing enough traction. Why? Well, there are a number of reasons:
- Sometimes a good portion of these macro-influencer accounts followers are robots and don’t actually engage, they’re there to boost their follower number.
- There are a population of influencers who purchase followers or likes for their posts from third party sources – fake engagement
- There lies the issue of gauging actual engagements that may result in real followers who may come across as fake followers and vice versa.
Due to these issues, brands are wasting precious ad-dollars on influencers that are quite simply not worth it.
Another thing that eCommerce brands should keep in mind is to avoid stuffing products with micro and macro influencers in order to promote them to their audience. This comes across as force-fitting and unauthentic ultimately hampering the brand value of the eCommerce brand.
How To Win At Influencer Marketing
1. Find Influencers Who Enjoy High Engagement Rates
What is considered a high engagement rate? According to Influencer Marketing Hub, a 3% engagement rate is above average. But why find influencers with high engagement rates? It entails their followers are real, and well, engaging.
A Peersway survey found that for the same budget, Nano Influencers (1k-10k followers) create 10x more content and deliver 3x higher engagement as compared to Macro Influencers (100k+ followers). And micro-influencers deliver 2x higher engagement than macro-influencers.
Why? Because the engagement rates of nano and micro-influencers are higher owing to the fact that their audiences share a stronger sense of connection with them, and most importantly, they are all real people!
The higher the average engagement rate of a digital influencer, the more likely their followers are going to like, comment, share and visit links from their content. This will inevitably result in more sales and brand awareness!
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2. Reach Out To A Wider Audience At A Lesser Cost
Of the 5 influencer types, nano and micro-influencers offer the most bang for your buck which is why they have over the marketplace. Nano influencers generally have 1k-10k followers while micros have 10k-50k.
But why are they so effective? Brands refuse to spend big ad-dollars on one macro-influencer (100k+ followers) and find it more beneficial to utilize multiple nano and micro-influencers. You’re covering a wider range of the audience using multiple channels as opposed to relying on one.
You can spend less on 10 nano and micro-influencers and reach out to a wider audience as opposed to using 1 macro-influencer.
These influencers are also very low risk because their followers are real this equates to more real engagement!
This HypeAuditor graph illustrates that over 80% of influencers have between 1k-20k followers!
Reaching out to more of these types of influencers means you’re creating your own mass media channel for your brand and it’s products.
3. Build Relationships With Influencers For Authenticity
Tell a story. Find an influencer you can build a relationship with and who believes in and uses your product. This way their message comes across as authentic.
Authenticity in influencer marketing is the most important key to selling. Audiences don’t want to be bombarded with “salesy” content. They want to see a particular influencer talk about a product they genuinely love and use on a regular basis.
Relationships between brands and influencers can benefit both parties. For one, influencers who love a brand and use their products or services might just promote it for free at some stage. This saves brands money and possibly still gets them the traction they’re looking for.
4. Make Use Of An Influencer Marketing Platform
So what is an IMP? It’s an influencer marketing platform. Utilizing one of these platforms will help to find the very best influencers who don’t have fake followers or fake engagement.
These platforms have algorithms to verify that the influencers on their platforms are authentic, real followers with real engagement & high engagement rates.
Some are fairly costly but other influencer marketing platforms are more affordable or free.
The key takeaway from this article is to build relationships with influencers and use an IMP to find multiple nano and micro-influencers with high engagement rates from real followers.
Your influencer marketing promotions will surely help to generate more sales and brand awareness.
Ahkeem Sealy is a Digital Marketing Coordinator for the revolutionary Instagram influencer marketing platform Ainfluencer. Visit the Ainfluencer site and get your hands on the 2020 Real Deal Instagram Influencer Survey Report to learn more about what makes micro-influencers tick.