Different types of influencers can serve different needs for your business. But in creating an effective influencer strategy, you firstly need to understand the appropriate way of dealing with them.
If you are thinking about working with an influencer to promote your new product, take this into consideration first: good influencers who have real influence (even if they have only a few thousand followers but have great engagement across their posts) are worth paying for.
So, let's say you own a scarf company, and gift an influence one scarf worth $24.95, but you wish to have the influencer create 3 different posts. That's not really a fair deal to them, as you will get a lot of reach and exposure for your brand, but, realistically, they are only being paid $24.95 for all their efforts.
But you're probably still thinking... but how are they going to grow my business?! Well, let me explain. Influencers can be categorised into four main areas: macro, mid, micro and nano, and from these categories, they can serve your business in a variety of ways:
Macro (500k+)- Brand Awareness- they have a large enough reach to gain you a general exposure.
Mid (100k-500k)- Storytelling- these are the influencers explaining to their audience the features, benefits and story behind your product and why they should buy it.
Micro (10k-100k) - Engagement- these are the ones most likely to see results from their efforts, with higher engagement and reach on their posts from a more loyal following- but not necessarily in converting these followers into buyers.
Nano (1k-10k)- Conversion- nano influencers are also highly likely to see results from their efforts from targeting their smaller, loyal following, however, their followers are more likely to go and make purchases.
So, in conclusion, if you're looking to hire an influencer to promote your product or service, and they ask you for payment to do so, pay them. Invest in them the same way you would invest in other traditional mediums of promotion.
If you wish to learn more about influencer marketing, how to find the right ones to work with, or how much to pay them, feel free to get in touch, we'd love to assist you in finding suitable bloggers and influencers fit for your brand.