People don’t like being told to buy products, but they often want to buy products that their “idols” or “heroes” wear. When they see their favorite celebrity, athlete, TV personality, or talk show host wearing or using a product, they immediately want to give it a try.
Big brands have learned the value of “influencer marketing” and give away hundreds of thousands of dollars in free products to “the right people”. All the influencer has to do is mention the product or brand, and their dedicated followers will go out and buy it. It’s a subtle form of marketing, one that can lead to very high returns if done right.
The question is: is influencer marketing right for your business? Here are a few elements to consider when evaluating influencer marketing:
Is your product something that people would want to a) try out, and b) buy because they saw it on their favorite influencer’s social media profile? You wouldn’t use influencer marketing to promote a cutting edge sump pump, but you may find it useful for cosmetics, beauty products, clothes, shoes, accessories, vehicles, and other “showy” products.
You wouldn’t reach out to Kylie Jenner with the request to promote your testosterone supplement, and you certainly wouldn’t want Michael Jordan to talk about erectile dysfunction medications. It’s all about finding the right influencer, the one whose personal brand would enhance and be enhanced by your product. A relationship with the right influencer can be worth its weight in gold, but the wrong influencer or pairing can lead to a lot of money wasted.
In most cases, you will be reaching out to influencers and asking them to feature your product. However, if you have a product or company that is quickly growing, they may reach out to you. Both are viable options. It’s always nice to be contacted by an influencer, but you need to be prepared to invest in reaching out to them.
When working with any influencer, you always need to consider their reach and influence. Do they have thousands, hundreds of thousands, or millions of followers? Do they actually sell the products they showcase? Can they deliver sales or raise product awareness effectively? Always consider the influencer’s real reach and audience before signing any deals.
The truth is that influencer marketing, if done right, can be a very effective way to grow your business and extend your reach. Ask yourself the questions above to ensure you’re going about it correctly.