When you are marketing your business, you should be aware of the different kinds of strategies that are most effective. You may believe that simply posting on your social channels regularly or advertising in your local newspaper is enough, but this is not always the case. There are tons of new social media marketing strategies that are becoming much more effective in 2020 – including influencer marketing.
At Digital Coast Marketing, we understand that this is a unique form of marketing that not everyone understands. In this guide, we are going to tell you all that you need to know about influencer marketing in 2020.
What Is Influencer Marketing?
If you are unfamiliar with the term influencer marketing, you should know that this is a common marketing strategy in 2020. Influencer marketing involves the use of people with relatively large followings on social media who typically have sway over what others might be. Based on their influence with a particular audience, they can be useful in promoting a product. Typically, a brand will pay an influencer to promote the product, and they will need to disclose this fact to any followers.
Which Channels is Most Popular?
The great thing about influencer marketing is that it can be effective across many different social media channels. You may have noticed some influencers that you follow do sponsor posts across Facebook, Instagram, and YouTube. However, some channels are more popular than others when it comes to influencer marketing.
Typically, you’ll find that most marketing strategies will focus on Instagram influencers, followed by YouTube and Facebook. Blogs can also be very useful, as can Twitter. However, Instagram remains the top priority for many due to the nature of the content.
As Instagram is one of the most popular channels for influencer marketing, it is essential to know a bit more about what this channel can offer in terms of marketing. You could be forgiven for believing that influencers are most effective when they post on their feeds, but Instagram Stories are also extremely effective.
According to research, 73% of marketers believe that Instagram Stories are the most effective format for influencer marketing. Stories are being viewed much more regularly by followers and influencers with 10K followers, or more can offer a ‘swipe up’ link.
The Use of Micro-Influencers
While influencer marketing is an extremely effective strategy in 2020, it can also be very costly. That is especially true if you are planning on using influencers who have follower counts of over 1M like some celebrities do. It can be tempting to pay the more considerable fees to get your brand name out there, but there are much more cost-effective ways of doing this.
Micro-influencers have been growing in popularity for quite some time now, and they could become a useful tool in the coming year. Micro-influencers often get viewed as much more relatable in the content that they post and they can help to deliver a more targeted message. On top of that, they typically charge less for collaboration and so should be considered.
If you do decide to try out influencer marketing in 2020, you should be aware of the rules. If you break the rules set out by the social media channel that you are using to collaborate on, you could find that either account gets shut down. This issue can be extremely detrimental to your brand, and you’ll need to start from scratch.
The main rule that you need to be aware of is that any paid partnerships must be clearly labeled. Instagram offers tools to help with this, so if you use these, then you can ensure that you are always compliant. Influencers usually understand this a bit better and so will be aware of what they need to do. Don’t try to bypass the rules as this can lead to serious action taken from Instagram.
Another thing that you should know about influencer marketing in 2020 is that engagement matters. Social media channels often change their algorithms and so influencers might not be getting their posts seen by the target audience. The great thing about some of these channels is that they provide analytics that you can use to determine whether the influencer is worth the investment or not.
You shouldn’t ever just collaborate with an influencer because they have thousands of followers. These followers could be fake or not engaged at all. This means that while your content might be going out on a popular account, the return might be small. Before collaborating with an influencer, you should ask to see their stats.
Relevance is Key
Finally, you should know that relevance is key to influencer marketing. Suppose you are merely looking for someone with a large follower count and a high engagement level. In that case, you might not stop to think about whether they are considered influencers within your target audience. It would help if you only used influencers who are active in this niche to promote your products. Otherwise, your return might be smaller than you expected.
In fact, many customers will only purchase a product if they believe that the influencer actually uses it or that they have purchased it before. If this isn’t immediately obvious, it will be clear that this is solely a paid promotion and this can have the opposite effect.
Consider Influencer Marketing
If you have not yet considered incorporating influencer marketing in your strategy, you should reconsider. This kind of marketing can allow you to tap into a market and really get your brand name out there. As long as you are being careful about the influencers that you are choosing to pay to promote your brand, this kind of marketing can be very useful.
Influencer marketing usually takes place on social media. If you are looking for some help with your social media marketing strategy, DigitalCoast Marketing can offer a helping hand. Get in touch today to find out more about what we have to offer businesses like yours.