Take a gander at your social feed today and you’ll discover numerous posts highlighting some type of Influencer Marketing. A stunning way of life symbolism, the most recent design, excellence and wellbeing items and the sky is the limit from there. All sandwiched between photographs of your loved ones.
These posts have likely caught your eye and even impacted a purchase choice.
These influencers have quickly advanced into a compelling and adaptable showcasing channel that brands can never again stand to overlook.
86% of advertisers occupied with influencer showcasing in 2017, of which 92% detailed it being powerful LINQIA
What Is Influencer Marketing?
It is marketing that utilizations key where content creators drive around a brand’s products and message. Influencer marketing still remains a hazy area for some brands with regards to general advertising technique.
The uplifting news: Today there is more learning, apparatuses, and openings accessible for brands to use than at any other time. More on that later.
What is an influencer?
An influencer is a web-based social networking client that can have anyplace from a few hundred to a few million followers. They drive discussion and commitment around a specific theme, discourse, or speciality zone.
Influencers have their fingers on the advanced beat of a highly-engaged and loyal audience.
Why the rise of digital influencers?
Customer conduct is moving far from TV and standard VIPs — toward web-based life channels and influencers driving substance inside those channels.
Influencer Marketing has had a dramatic year! From controversies involving rogue YouTube stars like Logan Paul to concerns about appropriate content and data safety, brands are rightfully a little hesitant about adopting the channel.
Some things we’ve heard at Grapevine from anonymous marketers include:
- Leveraging influencers is a very saturated marketing tactic. It quickly becomes a black hole for budgets with no return.
- It’s hard and time consuming to reach out to quality influencers who produce great, re-usable content.
- Definitely growing but more not happy with the amount of fraud going on with influencer data. They have too much accessibility to buying likes, followers etc.
The problem isn’t the lack of performance of the channel, but it’s more about how there’s simply a fundamental lack of clarity the channel can provide to brands.
Here at Grapevine, we’ve teamed up with VideoInk to survey 450+ creators and 45+ marketers to:
(The survey is still open, by the way! Take the survey now for a month’s trial of the Grapevine platform as well as a month’s access to VideoInk’s membership)
- Gather intelligence on the Influencer Marketing space
- Provide clarity on tactics
- Identify gaps between marketers and the creators they work with
- Predict how the marketplace is shifting in 2018
Here’s a quick recap of some preliminary results (which you can watch on Videoink as well) to highlight:
Who are the stakeholders?
The first thing we did was analyze who the participants in the field were. Unsurprisingly, the majority of influencers we spoke to, 48%, are “micro-influencers.” Micro-influencers are creators with under 500k total following. So while most of the creators working today aren’t exactly super famous, they can actually inspire higher engagement rates than those of their more notorious peers.
Micro influencers offer the most authority in a specific and narrow audience niche. These influencers have a smaller, yet intensely dedicated follower amount of 10,000 people or less.
Micro influencers are a hot commodity because they are more affordable have higher levels of engagement.
Power middle influencers
These influencers typically have an audience size ranging from 10,000-250,000 people.
Power middle influencers likely already have experience working with a brand.
Macro influencers are the big fish of the social media pond. These are the digital celebrities of Instagram, Facebook, Youtube, Twitter etc. Their follower and subscribers can number anywhere from 250,000 to over 1 million people.
The potential reach of macro influencers will dwarf that of micro and power middle influencers. However, that wide reach comes with a lower engagement rate and higher costs.
In terms of industry, most influencers surveyed were in the beauty/fashion/lifestyle space. Of respondents that answered “other”, most of them were travel influencers.
On the marketer side, the brands surveyed have pretty modest budgets, with 36% of brands reporting they have a marketing budget between $25k and $50k.
Another thing we asked is: how are creators getting deals?
While maybe a decade ago, marketers would have to develop relationships with agencies to access influencers, that is becoming less so the case. Sure, the bigger influencers with major followings are still working with big firms, but as creating becomes more democratized — influencers are more independent.
Because of how creators operate, this may put an extra burden on marketers looking to work with them:
Over 80% of marketer’s surveyed responded that they mostly rely on manual search to find creators. Brands may want to invest in curated influencer marketing platforms to improve efficiency.
Where are Influencers most effective?
It can be difficult for journeyman marketers to understand what social media channels are the best for the influencer.
After surveying our own community, it’s definitely super interesting to see that — despite all the hype — they don’t think Snapchat is all too effective. Over 60% of creators reported that embattled platform is either “not at all effective” or “slightly effective.”
However, contrasting that with what brands thing is even more interesting:
There’s a gap between what metrics influencers depend upon for success and brands. When working with influencers, make sure to be transparent about what you need.
Determining the best platform however, is only half the battle. Marketers and creators also need to be aligned on what they’re looking for:
Build a brand or offering that creators can get excited about. Marketers aspiring to drive down costs and deliver amazing content should make sure that the creators they’re working with are actually excited about the partnership.
So, where is this all heading in 2018?
While influencer marketing won’t become a primary advertising channel, it will be a significant part of marketing plans.
Other predictions of note:
- Instagram and YouTube will increase the chasm in terms of most successful platform..
Look at new integrations such as Spotify and Instagram’s network will only broaden. In fact, Instagram is well on a path to overtake YouTube in this space.
Steps that marketers can take now:
- Designate a few people on your team to work specifically with influencers
- Build an “always-on” program.
- Investigate Influencer Marketing platforms to make the discovery process more simple and efficient.
- No need to go big: focus your search on “micro-influencers” that will yield increased engagement for your niche.
- Shake off the mentality that influencers are merely “ambassadors,” treat them as part of your team.
Watch the full video of the recap here:
The full brand-influencer trends report should be out in June! Help us get better data by taking the survey yourself: