Influencer marketing involves using people with active social media followings to promote your product, service, or website. Influencers can range from local bloggers to A-list celebrities.
Facebook Ads are paid advertisements that can appear on Facebook’s News Feed, Marketplace and Messenger, among other placements. As Instagram is owned by Facebook, you can also choose for your ads to appear on the Instagram Feed, Instagram Explore and Instagram Stories, as well as Facebook’s Audience Network.
If your long-term friend, who is a chef, recommends that you try a new restaurant that opened nearby, you are likely to want to go. While this is word-of-mouth, it is also technically influencer marketing. You trust the person and you know they are an expert in that subject. Therefore, you value their opinion and it influences your thoughts on that new restaurant.
In a similar way, many people have similar feelings when someone they follow on social media makes a recommendation or even just talks about a certain brand, product or service. In digital marketing, you can work with influencers to use this effect to drive more visitors to your site, resulting in leads or sales.
Influencer marketing can be extremely effective when done correctly, as it utilises the trust, community and reputation of the influencer to grow your business.
One of the first questions Influencer Marketing Agencies often get asked is how much it will cost to work with this marketing channel. The short answer is it can vary a lot based on the influencer!
As you may expect, large influencers or celebrities charge significantly more to promote a business or service. There are reports that the largest influencers, such as the Kardashians, can charge up to $250,000 per post!
Luckily, most influencers charge significantly less. A rough guide is it costs about £10 per 1000 social followers an influencer has.
Influencer marketing agencies look at a range of metrics and negotiate prices per campaign with influencers to get the best return on investment for businesses. Influencers themselves can also significantly change their rates, depending on how much they like a product or business.
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