Industry Standards for Influencer Marketing 2
Industry Standards for Influencer Marketing 2
From micro-influencers to macro-influencers to celebrity-like figures, you can collaborate with influencers to help bring more exposure to your brand and to increase your overall social media following, and engagement rate, and start to boost your online sales.
Grace
2022-08-31
When does one become a celebrity-featured personality?
There are so many influencers that reach a large scale of followers that reach to over 500k to 1 million and beyond. These are typically those who have high costs to work with and to collaborate with, but it can give a brand a big return on investment and can be a big sponsorship deal.
For example, Bare Minerals collaborates with Hailey Baldwin and they have a big sponsorship deal together! Brand deals for influencers who have millions of followers can range in costs between $5,000 and beyond.
How does the industry usually measure guidelines to determine their campaigns and the type of influencer they want to work with?
The first goal with any brand and influencer campaign is usually to measure awareness and create more visibility for their brand, product, service, and message. Brands will work with influencers to achieve an overall goal of brand awareness, client acquisition, and overall social media engagement rate.
According to Oberlo, 86% of marketers place raising brand awareness as one of their top three objectives of influencer marketing.
Engagement metrics are another important aspect that are used for brands to identify in their analytics for each campaign. Brands will assess their clicks, likes, comments, shares, and more as a way to determine performance of the collaboration with the influencer. This is also a great way for brands to assess an influencer's performance prior to working together!
Conversion metrics are the final piece that brand’s really pay attention to! They are designed for the brand to help get their customer’s to take a desired action such as purchasing their product, service, or joining their email list (for the brand to acquire the customer).
Overall, focusing on brand awareness, engagement, and conversion statistics are three things brands will pay very close attention to!
What does a typical influencer marketing campaign look like?
Campaigns for influencers will range from a small one-time collaboration to larger on-going campaigns with budgets, such as an on-going holiday campaign where an influencer is getting paid a set amount to post 3-5 times over the span of 1-2 months.
Oftentimes, a brand will set up a collaboration with an influencer to promote their brand and send them a product of their choosing for the theme of their campaign, such as a winter influencer campaign featuring a special product for holiday time to help sell their holiday stock.
Once sending the product to the influencer, they usually will have a set amount of time to post on their social media channels using appropriate copy and hashtags for the brand and then oftentimes, they will provide the brand with analytics.
Source:Social Shepherd
According to Social Shepherd, Instagram is one of the most popular influencer marketing platforms for a collaboration such as these.
Campaigns can be paid and unpaid, depending on the brand’s budget. Paid campaigns can range from around $50- $5000+ per post, depending on an influencer’s following, engagement, and rates.
Conclusion
All in all, influencer marketing is something that many brands are starting to use more and more in their digital marketing campaigns to help increase overall brand awareness, engagement, and conversions. TikTok, YouTube, and Instagram are now three of the most popular platforms for campaigns of this sort and they can be very helpful to your overall online presence.
From micro-influencers to macro-influencers to celebrity-like figures, you can collaborate with influencers to help bring more exposure to your brand and to increase your overall social media following, and engagement rate, and start to boost your online sales. There is an industry-standard with all things, and within marketing and influencer collaborations, there is unlimited potential for growth and success. We highly recommend using influencer marketing to market your business and services.
We hope you enjoyed learning about influencer marketing and that it can be your next focus to help you grow your business.
