Are you looking to get paid as an influencer?
This decade is almost at its end with the next year the last year in the decade. Every decade ushers in a new trend. Influencers and business owners have worked together to create a vibrant marketplace. However, there are so many influencers entering the market, making the need to stand out more necessary. It is crucial to end this decade well to begin the new one with enough energy and confidence.
Influencers are quickly learning that they have to outstanding to be relevant in such an industry. This industry has grown rapidly to about $6.5 Billion in the past five years. This is to show that more growth is anticipated. There are latecomers to the show that will still be very successful at digital influencer marketing more than the already known ones. It is quite interesting that social media has created its own celebrities as the internet is encouraging the development of digital currencies as well.
Are you looking to get paid as an influencer?
When one considers that online purchases and deals are globally digital, the ease of conducting transactions between influencers and the brands being represented becomes more realistic. Diversification of income generation is the order of the day, and many professionals have a side job, which is their ‘hustle’ as it is termed in the urban slang. Therefore, if you are an influencer already, you want to remain competitive. If you are just venturing into the world of social media influencing, you want to start on the right foot with a sound strategy.
Do you know that more than 50% of business owners are seeking not only to improve their digital presence but to invest in social media influencers and campaigns to boost their online traffic? Can you imagine that market research has predicted that by the end of next year, the influencer market would have seen a dramatic rise of up to 65% increase, making it a $10 Billion market? These are a few of the many things that will change not only the world but also the world of influencer marketing. This why being relevant and employing the following 10 tips are crucial to be successful.
The Engagement Power of the Influencer
This is a vital aspect of influencer marketing’s quality. There are lots of celebs with lots of followers who are only looking out for their next post. Although, some others take it a step further. What they do is to interact with their followers giving them a sense of worth and loyalty that can’t be bought. An influencer may have an average of half a million followers and be capable of running a successful campaign compared to celebrities with as many as 10 million followers. This is because the micro-influencer can engage his followers through consistent and meaningful interactions. If you are a brand looking to succeed in this market, or an influencer striving to soar, you have to take this aspect seriously for any successful influencer marketing campaign.
The Connection in Diversity
There are subtle differences between the niches every influencer occupy. As much as one may be an influencer in the medical world and not interested in cooking at all, you may become more successful by connecting the two. Imagine an influencer that brings cooking and medicine together, and this will create a network between these two diverse yet similar groups. Such a rare combination brings about more publicity to such an influencer, as both lovers of food and health will follow such an individual. This provides ample benefit to the brands that will run campaigns with such influencers. This is one of the future trends that will increase traffic and clients in influencer marketing this coming year.
Long-term Relationship between Social Media Influencers and Brands
Social media influencers benefit a lot from running a brand promotion. Some have more traffic and followers as a result, and besides the expected charges that come with the contract, they are also capable of making more in terms of sales commission. However, the brand may stand to lose more if they keep changing influencers with each campaign. This is why business owners and company representatives have devised that the new approach to this sort of marketing is the old trick of maintaining long-term relationships. When an influencer is kept for a while, they start to feel connected to the brand. This not only transmits into their passion in promoting the brand but in higher revenue generation.
Federal Regulations on Social Media Ads
The Federal Trade Commission (FTC) has been stricter with business transactions online, mainly influencer marketing deals. Influencers are now obliged to indicate whether their connection with a brand benefits them financially or not. This is crucial as it adds to the integrity of influencers giving authentic testimonials or those that are paid to critic or give an appraisal of the product being promoted. This also gives an insight into the level of commitment a company shows in bringing their products to the public.
We are at a point when gaming apps are becoming ways youth interact with themselves. Several billions of dollars have gone into the gaming market. The influencer marketing world is gently tilting into that direction. You may wonder why? People are beginning to create avatars that will serve as influencers, and they’re getting successful at it. Few of these CGI influencers have landed deals with renowned brands. An example is Lil Miquela, that has a contract with Prada and Calvin Klein. There are a few others like that, and the benefit they offer is the freedom in dictating how the brand is promoted.
The future may be slightly frightening, maybe because it is uncertain or just because our dreams come alive. However, one thing remains the fact that only those who evolve will benefit from the luxuries it comes along with the future. If you want to do better than the current version of you and become exceedingly successful, start preparing for the next decade as this one comes to an end next year.
Creating a Side Stream of Income for Your Business
While you are looking for ways to increase the value your business and to amplify the hard work you are already doing, you may want to consider adding another stream of income.
If you are interested in a side stream income, click on How to add a software as a service business to your core business.