With the continuing rise of social media usage, social media influencers are also becoming more prominent. This is why digital marketers are also turning to influencer marketing to take advantage of its ability to reach a wide audience and affect customer conversion.
Whether you run a big company or handle a small e-commerce brand, influencer marketing is definitely a good digital marketing strategy to try.
What is Influencer Marketing?
Influencer marketing is a marketing technique that leverages the wide reach of an influencer or someone who has a considerable amount of followers to endorse a brand or a company’s products and services.
It mainly revolves around the co-creation of content, plugging of products, and ‘influencing’ people to buy the brand’s products. Its main goal is to increase brand awareness and derive trust from the good reputation of the influencer.
Why It Works Well In The Philippines
Aside from the fact that the Philippines has a 67% Internet penetration, Filipinos are also known to be really into social media. As we know, social media is where most influencers are.
So with social media becoming a part of the everyday routine of everyone, the activities and posts of Instagram influencers, Facebook influencers, Twitter influencers, and YouTube influencers also become a part of their day.
Take Lincoln Velasquez of CongTV for example. He’s not exactly a showbiz personality but he is considered as an internet celebrity because of his large number of YouTube followers—6.84 million subscribers to be exact! Because of this, he’s been getting endorsements from mobile companies, soft drink companies, and of course other smaller e-commerce brands.
Let’s also take a look at another popular Filipino influencer, Alodia Gosiengfiao. With over 7.5 million followers on Facebook and 1.4 million followers on Instagram, her broad network reach is undeniable. From freebie decadent cakes to exciting cosplay item giveaways, we see that brands, both small and big, seek to leverage her influence on social media.
1. It DOES work really well
Did you know research has shown that nearly 40% of Twitter users say they’ve made a purchase as a direct result of a tweet from an influencer? Not only that, but the study has also shown that when Twitter users are exposed to joint brand and influencer tweets, purchase intent becomes 5.2 times more than usual.
2. It’s relatively cheaper
We all know that celebrity endorsements cost quite a fortune. The good thing with influencer marketing is that the fees of influencers are relatively cheaper than those of celebrities.
This is mainly because influencer marketing strategy does not have the added production costs of traditional commercial marketing such as cameramen fees, media placement fees, directors, producers etc. But no worries! It gets the job done just the same.
3. It can target a specific niche/audience
Since influencers have unique sets of audiences and followers, you can easily target a specific niche or market by choosing an influencer whose majority of followers are interested in the things that your line of business offers.
For example, if you are an e-commerce seller of computer gaming accessories, you can choose an influencer who is popular for streaming or famous for being an excellent online gamer.
4. It helps boost brand reputation
As discussed, influencer marketing leverages the good reputation of the influencer. That said, this good reputation can further extend to your brand’s own reputation.
People of good notoriety are regarded by society in general as trustworthy. Hence, people are more likely to get truly ‘influenced’ by these brands if these brands’ influencers have credible and dependable reputations.
5. It has a wide reach
Since influencers have a wide reach, naturally, the ads and content of your influencer marketing campaign would also reach a wide set of audiences. Obviously, the saying ‘less is more’ does not apply here. The more followers the influencer has, the more audiences your content will reach.
1. Your brand image can be affected by negative publicity
Influencers, whether they like it or not, are prone to be the target of issues and gossip. This is just one of the unfortunate consequences of being on that side of the spotlight.
If you choose an influencer to become one of your brand ambassadors, your brand also runs the risk of sharing in their burden when any negative controversy hits them. Controversies that adversely affect the influencer’s reputation also affect the brand’s reputation especially when people see them as a reflection of your brand’s own values.
2) Difficult to calculate influencer marketing results
Since evaluating the results of your digital marketing efforts is essential for any future improvement and monitoring efforts, the difficulty of calculating its results should be taken into consideration.
As for influencer marketing, it belongs to the class of digital marketing techniques which are harder to evaluate. You’d have to take into account various types of engagement factors such as ‘likes’, ‘tweets’, ‘cost-per-engagement’, and ‘cost-per-like’.
Tips on Development and Execution
Step 1: Define your brand’s goals and values
Before going through the whole process of formulating your influencer marketing strategy, you first need to define your brand’s goals and values so that you can have a good starting point. You can ask yourself the following questions:
- What are my brand’s marketing goals?
- What are my brand’s core values?
- How much am I willing to spend on marketing?
Step 2: Know and understand your target niche/audience
Knowing and understanding what makes your target market ‘buy’ or ‘not buy’ certain products is key to forming a good digital marketing strategy. Also, knowing your target demographic is essential for effective messaging.
Once you’ve figured out this vital information, you can then choose the most appropriate influencer for your brand based on those standards.
Step 3: Watch your competitors closely
As the saying goes, “Keep your friends close but keep your enemies closer.” Similarly, it pays to watch your competitors closely because you’ll have an idea on what works and what does not. By observing how they interact with their audience and most especially who they choose to represent their brand, you’ll get helpful information that will help you create a stronger marketing strategy.
Step 4: Choose the right social media influencer for your brand
Choosing the right influencer to represent your brand is the hardest but the most crucial step in the process. Applying the steps stated above, you can be sure to form a solid influencer marketing strategy.
Ideal qualities to look for in an influencer:
b) Fun and engaging;
c) Has authority on his/her niche;
d) Good number of followers; and
e) Has an entrepreneurial mindset.
It may be worthy to note that there are lots of bots and fake influencers out there. Here’s a checklist on how to spot a fake influencer:
a) Check their followers: Consider scanning the followers’ profiles to assess them. Do most of his/her followers have strange/incredible names? Do their names include a lot of numbers or unnecessary symbols? If the answers to these questions are mostly yes, then you might be looking at a fake influencer.
b) Consider the number of followers to engagement ratio: Does he/she have a million followers but only gets minimal comments and likes on her page? Chances are, they can be bots or fake followers that the influencer must have bought.
c) Assess engagement quality: After considering follower to engagement ratio, you should also assess engagement quality. Watch out for generic comments like “nice”, “beautiful”, “wow” and comments that have many emojis in them. Chances are, the engagement comments are bought too.
Step 5: Analyze Your Results and Modify Your Strategy Accordingly
After launching the influencer marketing campaign, you would want to analyze your results to measure its success. You can use several metrics like link-building metrics (measured by the quality of your links and the number of links), post engagement metrics (measured by the number of likes, retweets, shares, and comments), or sales metrics (measured by the number of new customers and new purchases).
If you see that the results meet your initial marketing goals, congratulations, you’ve built a strong influencer marketing strategy!
If it needs improvement, you can modify your process to improve your strategy’s success. You can also try combining your current influencer marketing campaign with other digital marketing strategies like social media marketing and relationship marketing.
Influencer marketing is a very effective way to increase brand awareness, increase the chances of customer conversion, and to bolster the good reputation of a brand. With this, brands can reach people through influencers and engage with them more directly. If you’re planning to initiate an influencer marketing campaign anytime soon, keep these tips in mind.