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Influencers: Are They Worth The Cost?

Kylie Jenner

If a Kardashian sneezes, the whole world knows about it. Not just the sneeze itself, but what brand of tissue she’s using. #sneezing #sahsick #tissue #kleenexonfleek

Question:

What do the Jenners, the Kardashians, local Aussies Rozalia Russian and Kayla Itsines, all have in common, aside from being ridiculously good looking?

Answer:

  • They have an average of 60 million engaged followers.
  • They’re all spruiking a ton of brands
  • They’re all making some cold, hard, delicious cash from it

Don’t be fooled by what may seem like a bit of fluff. These people mean business and they’re raking it in.

But why has Influencer marketing become one of the leading ways for marketers to get their brand in front of their target audience? Facebook feeds, Instagram feeds, Snapchat feeds, all the feeds continue to experience content overload, so it makes sense that marketers approach celebrities and Influencers to support their brand awareness efforts. However, before you get swept up in the glitz and glamour of it all, is there actually any value in approaching an Influencer to help promote your business? While Tiger Pistol is an ad tech platform, the people that work here are marketing experts. So we’re providing you some advice on influencer marketing, for free!

Is an Influencer Really Worth the Cost?

According to a study by Nielsen Catalina Solutions conducted in partnership with influencer marketing software TapInfluence, the ROI is 11x higher promoting a product, service or brand via an Influencer over traditional forms of marketing.

Despite that, the notoriously hard-to-market-to Millennials actually prefer to use products recommended by their peers, not celebrities.

Furthermore, U.S. Influencer marketing company, Collective Bias, has the stats to back it up:

  • 70% of Millennials say they make purchases based off peer recommendations, and
  • 30% of Millennials are more likely to buy from non-celebrity bloggers.

So maybe instead of spending a million getting Kylie Jenner to feature your product in one of her 1000’s of Instagram Posts, consider finding a different type of influencer that may appeal more to your target audience.

How to Find the Right Influencer

Tip #1: Start by asking your friends, family and co-workers about bloggers and people they follow on social media that align with your brand. The person you’re looking for, ideally, is already using something similar to your product or service, and are genuinely passionate about it. From what we’ve learnt, you don’t need to have paparazzi following your every move to be of influential value.

Tip #2: You want an influencer who not only has a large following, but also has engaged followers. Their followers are tagging friends in the comments section and sharing their posts. A celebrity with a large number of followers but virtually no engagement can be less effective than an Influencer who has a humble amount of followers and a lot of engagement with the content.

Tip #3: Get on the ‘Gram and search the #hashtags to find yourself an Influencer that won’t cost your company an arm and a leg to partner with.

 

 

Learn more tips and tricks from the Tiger Pistol Blog. 

 

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