Convince & Convert, a Digital media and consulting company, reports that businesses generate an average of $6.50 for every $1 invested in influencer marketing. Additionally, eMarketer found that nearly 85 percent of marketing and communications professional worldwide expected to launch at least one campaign involving an influencer in the next 12 months.
The right influencer must be chosen for your brand to fully benefit. Defining goals, available incentives and action items for your campaign is the first step. Ask questions such as, “What are the budget constraints?” and “Will the influencer be speaking at an event or writing a piece about your brand?”
Once these have been determined, priorities will be clear. The next step is to evaluate candidates using four major measures—audience reach, engagement influence, network size and relevancy. Regardless of the influencer type, all measures must be satisfied to some degree. Here are the three main influencer categories to help guide your decision.
Superstars are celebrities and athletes. They are also regarded as mega-influencers because of their remarkable reach and newsworthy presence. Superstars are essentially brands themselves. However, they still have flaws when it comes to influencer marketing.
Superstars are typically expensive and often lack specific industry relevance. Despite their topical value, they are least successful at compelling your intended audience to take action. Superstars are great for circulating your brand’s name or news and are major event attendance motivators. Their biggest pull is usually monetary incentives.
Buzz-Makers provide a decent balance of reach and relevance. This group of macro-influencers includes journalists, notable bloggers, experts, executives and thought leaders. Their potentials for significant reach and moderate relevancy often result in a considerable audience impact.
Buzz-Makers are suitable for enhancing brand exposure and spurring engagement. They can be attracted by a variety of incentives. Monetary and sponsorship opportunities appeal to them, but can be costly. Buzz-Makers may also be enticed by positive visibility, exclusive offers, inside-scoops and networking opportunities.
3. Inner-circle Insiders
Inner-circle Insiders are the most relevant group. They are micro-influencers, comprised of consumers, partners and prominent employees. Inner-circle Insiders have the largest capacity for driving audience action because of their personal experiences with the brand.
Unfortunately, they ordinarily lack topical power, so their reach is limited. Exclusivity excites these influencers, whether it is new products, VIP or early access. Inner-circle insiders can also be motivated by the opportunity to add value to their image, network, product or role in their specific industry.