Influencers are defined as: "Individuals who have the power to affect purchase decisions of others because of their (real or perceived) authority, knowledge, position, or relationship..." Online Business Dictionary. So what is a social media influencer, you may ask? A social media influencer is someone with a large following, typically thousands of people, who advertises your product or service on one or more of their social media platforms.
Imagine you are scrolling through Instagram and you come across a post from a popular fashion blogger. You notice they tag and mention in the caption of their photo who and what they are wearing, down to the very last detail. You also notice there are a variety of hashtags, including "#ad". This is the perfect example of a social media influencer. The fashion blogger is paid by a clothing company for the sole purpose of posting Instagram photos in their outfit, in order for the company to gain exposure.
The idea behind social media influencers is that followers want to be "cool" like their favorite blogger or celebrity, so they buy the advertised products themselves. Typically, social media influencers include a discount code with their promotional post, for their followers to use if they decide to buy the product or service. Most companies then pay the social media influencer a percentage of every product or service sold using their discount code. Hiring a social media influencer is little to no work and results in an easy and effective form of advertisement.
So, is hiring a social media influencer worth your money? The answer is yes. According to [A]List Daily, 71% of consumers are more likely to make a purchase based on a social media reference. Considering that most people use some form of social media, using an influencer quickly catches your audience's attention through the most effective medium. One of the most important things to remember, is to choose a social media influencer that fits your brand. If you're a fitness apparel company and you choose a YouTube celebrity who is famous for their makeup tutorials, this isn't the right business move because your target audience is all wrong. Instead, you might want to choose a fitness blogger to post Instagram photos in your clothing line. For more helpful social media marketing tips, check out our blog post: How Your Business Can and Will Benefit From Social Media.
On Inkifi's webpage, you can actually calculate how much your Instagram posts are worth, based on your following. This will give you an even better idea of how helpful social media influencers can be to your business! For more information on growing your business in today's social media-centered world, download our FREE ebook, Marketing to Millennials, below!