Discovering the power of influencer marketing

Discovering influencer marketing

Let’s talk about influencer marketing.

Influencer marketing is the practice of paying people with large social followings, known as influencers, to promote a product or service. A large social following means they have influence over a certain group of people and brands want to capitalise on this to sell their wares. Similar to a celebrity endorsement, influencers are paid to wear sneakers, drink smoothies, dine at restaurants, drive cars, go on holidays, apply makeup, attend events, and the list goes on and on. Anyone can be an influencer, you don’t need to be famous, you just need to have a vibrant social media following on one or more channels.

There are different definitions on the names, types and numbers of influencers but basically they fall into 3 categories:

Micro influencers – a small and niche audience of 2000+ followers. Read this blog post to see why micro influencers can be powerful.

Macro influencers – 50,000 to 300,000 followers. Read this bog post on the benefits of macro influencers.

Power influencers – 300,000+ followers.

Wondering how much influencers make? This chart from theright.fit gives a general guide to pricing in the influencer market but we can’t forget the exchange of product for promotion called contra.

I recently attended Myriad, a startup and innovation conference in Queensland, and heard keynotes from two amazing female founders who both created successful startups around connecting influencers, brands and businesses. This is a growing and powerful part of the marketing ecosystem and these startups are solving the problem of connecting influencers with brands and providing some sort of structure around the Wild West of influencer marketing.

Danielle Wise is the Co-Founder and CEO of Scrunch. Check out the Scrunch blog for lots of information on influencers and influencer marketing.

Taryn Williams is the Founder and CEO of WINK Models and theright.fit which gives access to over 6,500 top tier, fully screened professional talent on demand. It’s like the Uber of the creative industry! I have started listening to TheRight.Fit Podcast where different aspects of influencer marketing are explored in each episode with guests from the industry.

If you have spent any time on social media then there is a good chance you have seen influencer marketing in action. It’s crazy to think about it but there are people out there who make part-time or full-time livings from being an influencer. If you’re involved in marketing for your business or workplace then is it time to consider how influencer marketing can work for you?

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