If you haven’t already heard the term “Influencer Marketing,” in 2020, you surely will. This type of marketing has been around for decades and has taken on a new form with the insurgence of social media. There is no mistaking that Influencer Marketing needs to be in your marketing plans for the new year. 

You may already be aware of the traditional method of Influencer Media known as “word of mouth” marketing techniques. Consider Influencer Marketing a more visual and targeted approach to its traditional form. By collaborating with Influencers, your brand can connect directly with consumers who share the same values, habits, and lifestyle choices that your company shares. 

Here are the first things to know about diving into an Influencer Strategy. 

1. You probably already have Influencers.

With over 500,000 active Influencers just on Instagram, it is highly likely that there are already influencers talking about your product or services. Now it’s time for you to collaborate with people who already know and love your product! Don’t wait to start.

2. Channels Matter. 

Not all social media is created equal. Each social media platform is unique. People interact with brands differently on Instagram than they would on Facebook or Twitter. It is imperative to know where your target audience is and utilize your strategy there. Not sure? Instagram is the best place to start. 

3. Yes, brands are spending money. 

By 2022 the Influencer Marketing industry is projected to be worth $15 Billion. However, the average budget for companies largely depends on its size and the goals for the campaign. Many opportunities exist for brands to leverage their budgets to include Influencer Marketing.  BigCommerce predicts that:

• 19% of marketers spent $1,000 – $10,000 per year on influencer marketing in 2019, while 18% spent between $100,000 – $500,000 per year.
• 7% of companies planned to invest over a million dollars in influencer marketing in 2019.
• 17% of companies spend over half their marketing budget on influencers.

4. The ROI is REAL

According to a poll of marketing professionals conducted by Tomoson, businesses are making $6.50 for every $1 spent on influencer marketing. These are numbers you can’t afford to ignore. Tracking revenue generation is key to measuring results for Influencer Campaigns. Management platforms such as Klear give you the ability to manage and track your Influencer campaigns for maximum return.

While Influencer Marketing is not taking the place of social media or other digital advertising, there is a significant benefit to keeping pace with an Influencer Strategy for your brand. Consumers choose to interact with people they follow on social media. Unlike a celebrity endorsement, Influencers create a high level of brand trust for the audience. 92% of consumers around the world say they trust earned media according to Neilsen’s most recent study. It’s time to start working with those influencers who can connect directly with people who will benefit from your product or services. 

And to answer your question, YES, Hagan can help with your Influencer Strategy and Campaign Management. Contact us today to start a conversation on how we can help grow your brand.