The State of Influencer Marketing In 2019

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Social media is now accepted globally and has become an integral part of everyone’s life, this has given a golden opportunity for users with rich, engaging contents to accumulate loyal followers and earn a livelihood doing so. Social media users with such quality posts and huge fan base are known as influencers and brands have realized with time they are the best suited for their marketing campaigns.

Unlike other traditional media, social media is not bound by restrictions such as geographical location and target audience worry. The social media is accessible by all regardless of their age, class, and location. The ever-growing nature of the business indicates companies are investing more in influencer marketing as well as making way for aspiring influencers. Many businesses are looking for a side stream income to increase their revenue.

The Rise of Influencer Marketing

We will all probably agree that influencer marketing is on a steady rise, but figures and statistics might help us appreciate the acceptance and the recent boom that has hit the business.

Market Size: The most important yardstick to measure business growth is the market size. The influencer marketing business was estimated to be 1.6 billion in 2016, and it rose to almost double at 3 billion in 2017, a further 50% increase by 2018 to rise to 4.6 billion. The figure presently stands at 6.5 billion, which is a 400% increase from 2016.

Internet Searches: Another vital metric to measure growth and popularity is the amount of search engine searches. Increase in search is directly proportional to the increase in consciousness and acceptability. The phrase influencer marketing was searched 4000 times in 2015, 6400 times in 2016, 21,000 in 2017, and 60000 in 2018, representing a 1500% increase within 3 years.

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What to Consider for a Successful Influencer Marketing

About 80% of influencer marketing campaigns are successful while the failed campaigns are caused by inadequate planning and failure to set ideal key performance indicators (KPIs). The following should be considered for a successful influencer marketing campaign:

Get the Right Influencer: A major cause of a failed influencer marketing campaign is choosing the wrong influencer for your campaign. Getting an influencer in the wrong niche, an influencer with poor contents, and an influencer that doesn’t use your products are few of the reasons why an influencer might not be ideal for your campaign. Making use of influencer agencies in choosing your influencer can help you avoid the mistake of choosing the wrong influencer.

Creative Contents: When launching an influencer marketing campaign, it is essential to dedicate some time to creating engaging contents, and choosing a creative influencer may help with this.

Right Target Audience: The success and popularity of an influencer doesn’t make him ideal for the campaign. Age, location, and gender of influencers’ followers must be taken into consideration when choosing the influencer for your influencer marketing campaign.

Adequate Preparation: Whatever is worth doing is worth doing well, to ensure a successful campaign, linking a URL to the campaign, selecting the right influencer and setting KPIs that will ensure good ROI are necessary.

Effective Terms of Agreement: After identifying your ideal influencer, the next step is setting terms of the agreement that will clearly spell out each party’s responsibilities as well as avoiding copyright issues.

What to Avoid When Choosing Influencer

Choosing the wrong influencer ruins an influencer marketing campaign, always avoid the following when choosing your influencer:

Fake Followers: The major headache for brands seeking influencer is engaging fake influencers, there are a few fake influencers with fake followers, fake likes, comments, and reposts, going through agencies can greatly reduce chances of dealing with fake influencers.

One-off Campaign: In order to improve influencer marketing campaign success, it is pertinent to try a continuous campaign that keeps your target audience engaged. Making use of brand ambassadors who are contracted to represent, promote, and market the brand summer, winter, spring, and fall, ensuring your audience are engaged continuously.

Avoid Very Expensive Influencers: Macro influencers with huge followers command a huge fee, kylie Jenner charges 1 million dollars per post while Cristiano Ronaldo charges 975,000 dollars for a single post. Only huge brands can afford the services of the macro influencer. Always stick to a budget and make judicious use of micro-influencers in your niche. Going beyond your budget to engage the services of a macro influencer may result in a failed campaign if the ROI doesn’t complement the investment.

What Makes an Influencer Marketing Campaign a Successful One?

Few metrics determine the success of an influencer marketing campaign, KPIs vary from brands to brands and campaign to campaign. The commonest KPIs are:

Brand Awareness: The essence of an influencer marketing campaign is to improve people’s consciousness about the brand, to measure the level of awareness, engagements like likes, clicks, comments, links, and shares are taken into consideration. This is particularly important for a newly launched product.

Improved Sales: It is natural to experience a surge in sales during and after a successful marketing campaign.

New Audiences: By the end of the campaign, brand awareness must have improved among the desired age bracket, gender, and location targets.

Lead Generation: Making instant sales is important, but so is having a list of potential customers and keeping in touch. During the influencer marketing campaign, names and emails can be generated through account setups, give away entries, and newsletters.

 What have we Learned about Influencer Marketing in 2019?

For followers of influencer marketing, there is nothing new to report about the industry, the industry is rapidly growing and could hit a trillion dollars in nearest future, and Instagram remains the leading platform for influencers. Cristiano Ronaldo remains the most popular user of the platform. The state of influencer marketing in 2019 can be summarized in these few steps:

  • 15% will spend up to 50% of their marketing budget on influencer marketing.
  • 65% of brands will increase their budget for an influencer marketing campaign.
  • Influencer agencies increased from 420 to 740.
  • Instagram is the most used platform for influencers, and 89% of Influencers use Instagram.
  • Marketing channel spent most on is Instagram at 69%, followed by YouTube at 11%, Twitter is least at 1%.
  • Snapchat is the least used at 3%.
  • The most common budget range for influencer marketing annually is 1000 – 10000 dollars.
  • The most used content format is Instagram post at 78%, followed by Instagram stories at 73%, twitch Livestream is least at 5%.

Social media has come to stay, and it is now an integral part of everyone’s life. Those who set trends and have huge followership are making it big on social media. These people are known as influencers, brands rely on influencers to reach more target audience, these types of marketing is rapidly replacing old ways of marketing of print media and billboards.

In the last year Influencer agencies almost doubled, the market grew more prominent with a potential to grow even bigger, by preparing adequately and going through the diligent process in selecting an influencer, brands can grow their brand bigger by reaching their target audience in different geographical locations.

The Basics of Influencer Marketing

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Social media has become intrinsic to everyone’s life, and nearly every adult has a presence on at least a social media platform. Instagram has active monthly users of over 1 billion, that represents 13% of the world’s population. This makes it the best platform for brands to promote their products and services. Brands make use of influencers to reach a wide range of audience, cutting across different geographical locations, age, and class. If you own a business, you may looking for a way to create a second income stream.

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Who is an Influencer?

An influencer is someone with a strong presence on social media, they are loved and respected, and consequently influences people’s decision when selecting brands and services. Most of these influencers already achieved celebrity status as an athlete, entertainer, or any other field, and being on social media provides their loyal fans an opportunity to follow their idol closely.

However, many more achieved celebrity status just by making judicious use of social media presence, the reward is wealth huge enough to live a luxurious lifestyle akin to those superstars you adore.

Types of Influencers

It is hard to classify influencers with other parameters other than the number of followers. Using the amount of followers, influencers can be classified into the following categories:

Mega-influencers: These are world-famous people who have achieved celebrity status in their various fields. They command huge respect and Influence both in real life and online. Mega influencers have several million followers scattered all over the world. They could be athletes, world leaders, models, and entertainers. Examples are Lionel Messi of Barcelona football club, Donald Trump, the president of the United States of America, Kendrick Lamar, an American rapper and so on.

Macro-influencers: This type of influencers have between 100,000 and a few million followers. Most macro-influencers achieve their fame with their social media presence. This is usually achieved by posting inspiring contents, comic contents, and blogging.

Micro-influencers: They have between 1000 and 100,000 followers, they usually specialize in a subject and usually make educative and informative posts on their chosen niche.

Nano-influencers: This type of Influencers have less than 1000 followers but have a strong presence in their local community. Local religious leaders, community chief, and local government head are examples of nano influencer.

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How Can I Become an Influencer?

The basic need for your influencer career is a digital device and a good internet connection. With your tools in place, the following can help you attain celebrity status on social media and become a successful influencer as a result:

Choose your Niche: As an upcoming influencer, and it is crucial to pick a field, you have huge knowledge about, where you can make insightful posts regularly.

Always Post Beautiful and Insightful Contents: Social media users have no idea about your personality, they will relate to your posts and learn about you through your posts. Being renowned for quality posts is what will get you to the top in the business.

Quality Photos: Instagram is the leading social media platform for influencers, posts on Instagram are usually pictures. Everyone posts pictures on Instagram, to become an influencer ensure your photos are of the highest quality possible.

Build Followers: What makes an influencer is the number of followers. Take your time to build real, loyal followers, acquiring fake followers can cost you your account in the future.

Be Creative: You want to be an influencer? Don’t be boring with your posts, even if you only post about a subject, be dynamic and creative with your contents. Apart from the number of followers, the main attribute brands look for in influencers is creativity.

Engage: By the time you become a micro-influencer, you will have less time to reply to comments on your posts due to your busy schedule. However, as an upcoming influencer, it is necessary to dedicate some time to like and reply comments on your posts. This will give your followers a sense of belonging and make them more loyal to you.

Giveaways: A certain way to acquire new followers and make existing followers loyal is by giving your fans giveaways, giveaways are usually given in exchange for shares, reposts, and likes, which increases your followers.

Use Hashtags: The most important tool on social media is hashtags, it takes your posts farther and increases SEO, the more hashtags, the better. It is advised to use up to 4 hashtags per post to improve reach.

Join a Network: Influencer network is a platform designed to bring influencers together, to share ideas and knowledge about influencing in a bid to improve and be more productive.

How Can I Make Money as an Influencer?

There are many ways to make money as an influencer, and I will share them with you.

Sell Products: The primary way of making money as an influencer is by selling your products to your followers, few of your followers will patronize you, and the numbers will definitely increase with good feedbacks with time.

Sponsored Posts: You can make a post about brands and their products, what you charge per post depends on the number of followers, mega influencers charge up to 1 million dollars, while micro-influencers charge few hundreds of dollars. It is typical of influencers to indicate that a post is sponsored.

Affiliate Marketing: You can also market and promote third party products and services on your social media page in exchange for a reward. Rewards vary from monetary reward to barter of goods and services.

Brand Ambassador: Brands with continuous, never-ending marketing campaigns make use of brand ambassadors who can always represent and promote the brand in the right way. Influencer responsibility as a brand ambassador includes making posts for the brands, appearing in adverts, billboards, and product launches.

Crowdfund your Project: Another way of making money for an influencer is by having your followers invest in your dreams, loyal followers will go to any extent to contribute to the career of their favorite influencer.

 

 

Join an Influencer Agency: Influencer agencies are agencies that connect brands to influencers. They are consulted by brands when selecting influencer for their next campaign, while influencers depend on them to get jobs. Micro and nano influencers must join an agency to improve their chances of getting jobs from brands.

Influencers set trends and Influence decision of their followers when selecting a product or brand. They are classified according to the number of followers. Celebrities and superstars make up mega influencers while nano influencers are those with less than 1000 followers and are particularly influential in their local community, macro and micro-influencers fall in between with thousands of followers.

There are many money-making opportunities available to influencers, including selling products, affiliate marketing, sponsored posts, brand ambassador while joining an agency can improve your chances of getting lucrative jobs from brands.

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