Influencer Marketing Is it Worth it?
There are 2 sides to this question, you can see as someone who wants to be an influencer marketer or a company that wants to hire an influencer service. I’ll try to answer both of them.
In this digital era, there are $4.54 billion internet users out there. Most of them spent their time on social media.
By data above daily average time spent on social media are 2 hours 24 minutes per person Worldwide. And in the United State itself is 2 hours 3 minutes.
The Philippines are the world’s most ‘social’ people for spending nearly 4 hours per person daily. This is one crucial factor for you to decide is it worth it or not?
But what about which social media platform that they actually spent most of their time on?
As you can see Facebook has dominated and followed by YouTube with 2 billion monthly active users. Of 4.54 billion internet users 90% of them watch online videos, by that YouTube can be a great choice for influencers to promote a product either they own it themself or a company's product.
What Benefit That Company Can Get From Hiring Influencers as One of Their Strategy to Reach Market?
Influencers can play a big role in generating revenue for a company. An influencer has the power to boost credibility and extend your content to reach into new communities. Influencer marketing is one marketing strategy that focuses on using key leaders to drive your brand’s message to the larger market.
The average spending on influencer marketer:
19% of marketers will spend $1000 — $10.000 per year, while 18% of them spend between $100.000 — $500.000 per year. As 7% of companies plan to invest over a million.
89% of them said that influencer marketing is comparable to or better than other marketing channels. (source: Bigcommerce)
The goals of influencer marketing:
- Increasing brand awareness.
- Reaching new audiences.
- Generating sales and conversion.
Influencer marketing can be a great choice for companies to put it on their budget. An influencer can deliver a strong ROI. On average, businesses generate $6.50 in revenue for each $1 invested in influence marketing. Most businesses get solid results from influencer marketing, with just the bottom 18% failing to generate any revenue. So the failure rate is low.
How About as an Influencer Marketer?
Everything that describes above is your opportunity, there are companies out there willing to pay tons of money to hire an influencer marketer. So here what you should do to start:
#1 Choose your category
This is important because by this you can target the audience more specifically. It’s benefiting you and also companies so they have a targeted audience.
There are tons of categories that you can choose from. In e-commerce traveling including accommodation has the largest number on total spent by over $1 trillion. So there are many consumers that interested to buy travel services.
Followed by fashion & beauty by total amount spending $620 billion. You can use this as a preference for which category that you will choose. So you can specifically build your audience there.
#2 Produce a Content
When companies look for potential social media influencers to work with, they’ll look at the influencer’s relevance, reach, and engagement rate. And also don’t forget on content because not just companies that want to see how good a content creator you are but also your audience.
High-quality content is necessary because it can determine what kind of impression your potential partners will see. A first good impression can impact their decision and it’s crucial.
#3 Engage Your Audience
Engage your audience it’s needed to build the engagement rate that it requires for your potential partners to decide whether they use you to work with them. And also can increase your conversion rate.
Instead, you just simply create content, you also need to engage your audience in two-sided conversation.
For example:
- Which one is better?
- What is your opinion on this?
Or you can also create a reward for them to create content & tag you.
Which Social Media Platform That’s Worth Your Time?
Every social media platform has an advantage. But by data for the most used social media platform is Facebook and followed by YouTube. But what’s the best social media platform for an influencer marketer?
Instagram & YouTube is the most important and impactful, and it gets supported by the data that 90% of internet users in the world at least watch 1 online video per day.
But, don’t underestimate the text version where there are still Facebook & Blog it’s still has a popularity to it.
If you don’t know how to monetize your YouTube channel you can get help here.
Drive audience can be a pain & it’s not gonna be easy! and there are many who try to buy quick easy followers that are actually not real so it’s not good for your engagement rate. If you want to easily drive more customer you need an account manager that actually help you to grow your account.
You can use Upleap to help you grow real traffic. They use strategies to improve your engagement and bring your audience by sharing your profile on search engines. Learn more here.
Or you can find a freelancer that can help you to build a strategy to grow your account, and I recommend you to use Fiverr because there are many choices of freelance and has some review so that you can choose the right one for you. Learn more here.
How Influencer Marketers Get Money?
There many ways to earn money from influencer marketers. But here I want to discuss the most common way to earn.
- Sponsorship, the companies will ask the influencer to promote their product directly in exchange for compensation.
- Affiliate Marketing, you promote other products and in exchange, you get a commission on each sale you make. Affiliate marketing can be a choice for you the reason is that it’s not gonna be easy to get sponsorship and also you start it right away. You can check Wealthy Affiliate there are training there that can help you to start your affiliate marketing journey and many affiliate program that you can choose.
If you want to learn more about affiliate marketing and how to start you can read my previous article.
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