Over the last few years, as consumers’ disposable income has decreased, they’ve become more mindful of where and how they spend. This shift in consumer behaviour is also mirrored by businesses, as budgets tighten and marketing teams seek ways to maximise value.
In this context, brands are stepping up their marketing efforts to remain relevant and attract the right customers, while getting the most from their budgets. One strategy that has gained significant traction is influencer marketing, which now plays an integral role in many PR and influencer marketing strategies.
So how does influencer marketing fit into a business’s broader strategy? In this article, we’ll provide a quick overview of what influencer marketing entails and how it can complement your wider PR and marketing activities.
What is influencer marketing?
At its core, influencer marketing is a type of social media marketing in which brands collaborate with influencers or content creators to promote products or services through endorsed content.
When people hear the word “influencer,” they often think of celebrities or macro influencers with millions of followers. However, many brands find success working with nano influencers (under 10k followers) and micro lifestyle influencers (10k to 50k followers) because these influencers often have a closer connection with their audience. By partnering with influencers whose lifestyle aligns with your target audience, consumers are more likely to be influenced to make a purchase.
Influencer marketing’s place in the wider business strategy
Like any PR and marketing tactic, it’s important to evaluate how influencers fit into your wider business strategy and what budget is available.
First, ask yourself: What’s the overarching goal of this influencer marketing strategy? Is the objective to raise brand awareness, increase brand engagement, gain market share, or drive sales?
Once you’ve defined your goal, you can determine where influencer marketing fits into your broader strategy and what type of influencers you should collaborate with. Each brand is unique, and so is every influencer outreach campaign. For example, if your goal is brand awareness, a macro influencer with a wide reach may be the best fit. However, if the goal is driving sales, partnering with nano or micro influencers with a smaller but more loyal audience might be more effective.
Why influencer marketing works
Research shows that influencer marketing generates a better return on investment (ROI) compared to traditional forms of marketing. One reason for this is that consumers have grown more savvy and less trusting of traditional advertising methods.
Despite often being paid content, influencer marketing is perceived as more authentic. Influencers spend years cultivating their profiles and building loyal followings, so they are selective about the brands they represent. Their followers trust them, which is why content influencer marketing is highly effective.
Moreover, influencer marketing is far more targeted than traditional marketing channels such as billboards or direct mail. Influencers use platforms like Instagram and TikTok, which allow them to analyse audience data in real time. This enables them to stay connected with their evolving audiences, enhancing the effectiveness of campaign influencer marketing.
Refresh’s top three tips for influencer marketing:
- Get to know the influencer: Follow the influencer before approaching them for a collaboration. This gives you an understanding of their values and audience, ensuring their alignment with your brand.
- Trust the influencer: Give influencers creative freedom, just as you would any other member of your team. They know what resonates with their audience and what will lead to conversions, especially in always-on influencer marketing campaigns.
- Be transparent: Ensure that paid posts are clearly identified with the relevant hashtags, such as #Ad. Even if a product is gifted, use #Gifted to remain compliant with ASA guidelines.
At Refresh, we’ve worked with influencers across both consumer and trade sectors. Recently, we launched a B2B influencer marketing service for the heating and plumbing industries.
If you’re interested in advice on influencer PR, whether B2B or B2C, feel free to get in touch!