Influencer Marketing Demystified

“Influencers” seem to be everywhere these days, filling up our social media feeds and promoting products/brands. So, what’s it all about? We recently teamed up with Eryn Gilson, 614 Mom, for an event that pulls back the curtain on influencer marketing and helped lay the groundwork for small businesses to successfully collaborate with them.

At this event, we covered everything from what influencers are to how to budget for influencer marketing. While there was so much more discussed, I’ve attempted to recap the main takeaways for you to digest. 

1. What is an influencer anyway?
   Anyone with the ability to influence potential buyers of a product or service by promoting or recommending the items on social media. Influencers have created their own trusted brands by building relationships with their audience through authentic conversations. 

2. Why would I want to partner with influencers for my business?  (i.e.Tell me the benefits)
   Word of mouth has always been the most trusted type of marketing you can tap into, and influencer marketing is the latest iteration of that. Brands now have the ability to partner with influencers who believe in them as a way to increase their reach. 

3. How can I find the right influencer for my business?
   Research can be tricky, but there are some tools out there that can help. Here’s a good list. Some pointers: look for influencers in your local market, do your own math on engagement (aim for 2%+) of certain posts because things like giveaways can skew results, and review past campaigns to see if they’re in line with your strategy. 

4. Can you give me some tips on how to successfully work with influencers?
   Know your strategy, timeline, and budget before reaching out to an influencer. Make sure to contact them at least 2-4 weeks in advance so they can have time to negotiate, create the content, and add it into their schedule. Pitch the influencer with an organized outline listing what you can do and what you want from them. The more leeway you can give the influencer creatively the more likely that the campaign will be authentic, which is why you want to work with them in the first place. Sign a contract. 

5. Can I fit influencer marketing in my budget? (i.e. Ballpark it for me.)
   Oh, wouldn’t a ballpark be nice? Requesting a media kit from all influencers you’re considering after you’ve conducted your research is the best way to really understand pricing because each influencer can set their own rates. There isn’t a good industry standard yet and the way that national brands pay influencers is very different from what small businesses would expect to pay. So, asking in advance can help you determine how to set your budget and how many influencers you would want to include in your campaign. Some may be ok with a partial trade if there is something of value you can provide them, but don’t expect this to be the norm. Influencers pay their bills and support their families by charging for their services. 

6. What are some ideas for projects with influencers?
   This is where it can get fun. Some ideas include gifts, paid ads / sponsored posts. giveaways, guest blog posts, social media posts, social media stories, affiliate marketing, and events. What other ideas can you dream up?

If you have more questions about influencer marketing for your business, send them our way. Our hope is that professional development events at Haven Collective elevate your business and help you grow.