3 Ways to Assess Whether Influencer Marketing Is Right for Your Company
Influencer marketing can seem intimidating for advertisers on the outside looking in. It’s Embold’s mission to make influencer marketing accessible to everyone, so we put together different ways you can assess if influencer marketing is right for you.
Not sure what Influencer Marketing is? Check out this blog first!
Before committing any budget to influencer marketing, it’s important to answer the following three questions. These three criteria’s are critical to the effectiveness and success of any influencer campaign.
1. Can Influencers Reach My Audience?
Before you look into influencer marketing, the biggest filter is if influencers can reach the type of audience you are looking to target. The majority of influencer marketing is on Instagram and the average audience on Instagram is well under 55. We see the number of users after the age of 55 significantly drop off. If your company is trying to reach customers under the age of 55, then influencer marketing might be a right fit!
The other factor when it comes to reach is understanding your serviceable market. Influencer marketing is ideal for consumer facing companies and can reach targeted markets across specific regions. However, if you have a highly specialized customer segment, influencer may not be the right fit. For example, if you are a company selling Recreational League Coaches in Edmonton, the likelihood of reaching a large enough audience through influencers is tough.
Lastly, if you are selling B2B, influencer marketing may not be an ideal fit through influencers on Instagram. Few companies are successfully able to acquire B2B companies through instagram ads because there isn’t a large enough target audience to justify a campaign.
2. Is My Company “Influencer-Friendly?”
The next thing to keep in mind before running an influencer campaign is if the influencers can authentically promote your company. Influencers have their own brand, and care about what they are posting on their social media. As a result, influencers often decline offers to be a part of a campaigns because it does not align with their brand.
Influencer Marketing is effective because influencers try to be as authentic as possible. Influencers know that they will lose followers if they are promoting something that does not align with their followers.
If you are unsure if influencers would be interested in promoting your product, get in touch with a member of our team. We have connected with hundreds of influencers and have a strong sense of what type of campaigns can be effective.
3. Can My Company Afford Influencer Marketing
When you first take a look at Influencer marketing, it seems to be more expensive than typical social media ads. That perception can be misleading if you don’t look further. Yes, the cost to reach people is on average higher than it would be if you paid for an ad on Instagram. But that’s only half the picture. Influencer marketing also takes care of the other side of marketing, which is the content creation. So you won’t need to spend thousands of dollars hiring a media crew, photographers to create content.
Influencers know what content works and they will collaborate with you to create content that will be meaningful to your customers.
You also need to run a campaign that gives you a large enough sample size to where you can see the impact. You wouldn’t put 1 solar panel on your roof or buy 1 winter tire: you need to invest enough to see the true impact of such services. Often times to have engage multiple influencers in your market and have them create 2 – 3 pieces of content so you can really see the impact of your campaign.
That being said, influencer marketing does not have to be as expensive as what companies make it out to be. When using micro influencers, campaigns can be created that meet your budget and exceed your expectations.
When you first approach influencer marketing it’s normal to be overwhelmed. It’s the new wave of social media and there are a lot of unknowns. From finding the right influencers to negotiating compensation and managing content creation. At Embold, we allow all advertisers to deploy an influencer strategy and see the results for themselves. Whether you are part of a marketing team or an agency, our team has the technology and the experience to help you achieve your goals.