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Is the influencer era over? NO, not even close! Now more than ever, brands are looking to Influencers on Instagram and TikTok as the best way to market a business. Influencer marketing statistics don’t lie! According to Shopify, the industry grew from 9.7 billion in 2020 to 14 billion in 2021 with Gen Z leading the purchasing pack. That’s why learning how to work with influencers as small business is key!
As you know, one of the best ways to grow your brand is through word-of-mouth advertising. When it comes to social media, users tend to treat the Influencers they follow as people they know and trust, which makes their “word-of-mouth” messages impactful.
If you’ve spent any amount of time following an influencer, you’ve likely seen this in action. And perhaps you have wondered how you could partner with an Influencer to increase awareness of your brand… OR maybe you’ve been influenced yourself!
It’s Erin here and some of you already know that I’ve worked in the industry for 10 years, creating and running influencer programs for multimillion dollar brands. On the flip side, I am an Influencer and have worked with big brands like L’Oreal, Caudalie, KIND and more. I know what goes into all of it and the nuances run deep!
If you’re a brand who is intrigued by Influencer marketing statistics and wants to work with influencers OR an influencer (or aspiring influencer!), this post is for you!
Before we get started, it’s important to recognize that Influencer marketing is a valid form of marketing, and therefore should be allotted a budget as any other marketing campaign would.
This can be very lucrative for the right influencer. When someone uses their code, they will get a kickback. A solid range for the discount code is 10% – 15% and for commission is 10% – 20%. The combination of the discount code and commission work well because their followers are incentivized to purchase with the discount, giving the influencer the commission, and the brand the sale and customer acquisition.
Relationships are key when it comes to working with an influencer as a brand! It is important to recognize the time and effort they spent carefully cultivating their audience and to approach the relationship with the level of respect they deserve. Do not hold back when it comes to showing your appreciation when they choose to welcome your brand into their space. Cultivating a relationship of gratitude will only serve to benefit your brand in the long run so be sure to continue to keep them in the loop and be consistent with reaching out. I’ve seen many small brands and micro-influencers grow in the space together and achieve a huge level of profitability in the process.
Influencers are certainly here to stay, and though marketing strategies will continue to evolve, influencer marketing will only become more and more valid moving forward.
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