What is Influencer Marketing?
Influencer marketing in 2018 is the evolution of traditional celebrity endorsement, fused together with modern day promotional methods such as social media campaigns. Influencers by definition, are anyone who has the ability to influence opinions and decisions over a selected target audience or following. Therefore, with the dominant role that social media platforms now have, companies are able to carefully select from an ever-growing list of useful individuals to endorse their brand to their niche fan-base.
As technology develops, social media platforms such as Facebook, Instagram and Twitter are becoming more efficient at helping businesses to promote their product/service. Together with the decline of organic social media reach, partnering with an individual or group that holds a large following and visible reach seems inevitable. Facebook recognised the business opportunity for this many years ago, and assisted the influencers through platform integrations such as:
- Facebook Groups for Pages
- Brand Boost Feature
- Branded Content tags
Influencer Marketing in Thailand
- Thailand has recently entered the top ten for most social media use (March 2018)
- Instagram had 13.6 million users, growth of 24%, and Twitter had 12 million users, 33% growth
- 86% of the most-viewed beauty videos on YouTube were made by influencers, compared to 14% by beauty brands, themselves.
How Much Do Social Media Influencers Cost?
Since this is still a fairly new and growing area, there are a number of varying pricing strategies that the individual or partnering business will offer. There are a few factors which will clearly affect the price of how much a social media influencer will charge.
- The Value and Demand for the Target Market
- The Social Media Influencer’s Following Size
- The Level of Engagement Required
- Direct Influencer Contact or Through an Agency
- Campaign Type
An important factor to note is which platform the influencer will be providing their services. Instagram tends to be the most featured platform, followed by YouTube and Snapchat. Facebook and Twitter are still some way behind but growing continuously.
Define Your Campaign Objectives
Agreeing a clear and concise strategy inline with your goals is the key to success when creating KPI’s with the influencer. While general brand awareness is always part of the strategy, more measure-able goals should be agreed to ensure a healthy client-influencer relationship:
- Social Media Engagement- Depending on the platform, this might be views, likes, shares or comments.
- Website Traffic- Defined as website visitors sent to the homepage or landing page of your choice.
- Conversions- Sign ups, bookings or sales received as a result of the campaign.
- Custom Revenue Figure as a result of the campaign.
How do you find influencers?
Individual influencers will often reach out to brands who they feel have a common ground with their target following. For example, larger hotels and groups will often receive direct messages from popular travel based Instagram accounts displaying their services. This clearly displays the potential and image of the prospective influencer for the company to weigh up the usual engagement, reach, audience and potential return on investment.
Social Media influencers who work together with agencies, will often allow the sales team to locate the lead, and handle the sales on behalf of influencer artist. The added involvement of the agency provides a lot more credibility, professionalism and campaign KPI accuracy, but will usually mean a higher price.
Here are a few popular platforms to search and discover high level influencers accounts:
Make Contact with a Social Media Influencer
Ace Marketing Solutions can connect you with a social media influencer whose following overlaps with your target audience. We can provide a credible proposal of the engagement, reach and impact which this can have on your given brand. Contact us today for more information.