The Scoop on Influencer Marketing (for Businesses)

Written by: Naomi Middleton

One of the best marketing strategies right now is working with influencers. There are so many reasons why working with influencers will benefit your business and brand. In general, people tend to trust influencers more than paid ads. Also, many influencers will tag you in content or blogs that can bring traffic for years to come. When you first start, it can definitely seem very overwhelming. Here are a few tips to help you get started.

What To Look for In Influencers

Finding the right influencers takes time but can definitely pay off in the long run. It is important to find influencers who can actually sell your products. This means that they (and their followers) have to be in your product niche. As you are building your list of influencers that you would like to work with, it is important to evaluate whether they will actually convert. Sadly, many people on Instagram buy followers and fake their engagement. Here are a few important things to look for.

• Do they promote products?
  Not all influencers can sell products. Look in their highlights or past posts to see if they frequently recommend products/share codes.

• Do they promote products similar to yours?
  It is also important that they promote products similar to the products that you are selling. Someone who specialized in selling make-up products might not be able to see hone decor quite as effectively.

• How many followers do they have?
  In their world of influencers, people can have 1,000 followers or a million followers. Unless you are a brand that has a HUGE budget, look for influencers that have between 10,000 - 50,000 followers. In all honesty, it seems like they usually have some of the best conversion rates too.

• Engagement Rate:
  The final thing to look for when picking influencers to work with is their engagement rate. A good engagement rate is between 4%-6%. There are websites that can calculate an influencer’s engagement rate (Influencer Fee). It also helps to look at their comments and likes and see if they seem genuine. It is pretty easy to tell if comments are from real people or robots. Also, if someone has 10,000 followers but their pictures only get a few likes, that is a little fishy.

Types of Influencer Relationships

In general, there are four types of influencer relationships. There are pros and cons to both types of collaborations. However, it is important to know what kind of relationships you can build with influencers and what the cost is for them.

• Mentions: Mentions are the simplest and least formal type of collaboration. Usually, influencers will be willing to mention a business in their stories/posts in exchange for free products.

• Affiliate: An affiliate partnership is where an influencer shares products with their audience. They get paid when people click on their affiliate links. Commission rates can range from 5%-50% percentage based on the brand. Most influencers use affiliate platforms to manage their affiliate partnership (i.e. ShareASale or LTK).

• Sponsorships: Sponsorships are an agreed-upon partnership between a brand and an influencer. Usually, the influencers charge an upfront fee anywhere from $200 - $5000. Every sponsorship is different but most include a contract of some kind.

• Brand Partnership: Brand partnerships are the most involved. It usually involves a brand putting an influencer’s name on one of their products and then giving the influencer a commission off every purchase.

How to Make an Ask

After finding an influencer and interacting with them, it is time to ask them to help promote your business. The two most common ways to reach out are DM or email. Take time to look at their bio to see if they have a preferred means of communication. Also, take time to think through what the collaboration might look like. No matter what kind of relationship you want to build with an influencer, here are the basic steps.

• Step 1: Build A Relationship With Them
  After finding an influencer that you are interested in working with, take time to like, comment, and share their content. The more interaction you have with them before pitching your business the more likely you are to get their attention. It also helps you to get to know them as a brand (which will help you craft your pitch).

• Step 2: Make Your Ask
  Example 1 (Mention): “Hey (insert name)! We have been following you for a while and love your brand! (Share a little about your businesses). If we send you some free products would you be willing to tag us in your stories/and or a post?”
  
  Example 2 (Affiliate): “Hey (insert name)! We have been following you for a while and love your brand! (Share a little about your businesses). We currently don’t have a big enough budget for sponsorships but we are looking for influencers who would be interested in developing an affiliate partnership. If this is something you would be interested in, we would be happy to send you some products for free to try and share with your audience.
  
  Example 3 (Sponsorship): “Hey (insert name)! We have been following you for a while and love your brand! (Share a little about your businesses). We would love to collaborate with your brand. Do you have a media packet that we could look at?
  

• Step 3: Continue the Relationship
  Once you have worked with an influencer, make sure to continue the relationship if the collaboration went well. If you just asked for a mention, make see if they are interested in an affiliate partnership.