Influencer Marketing

What Is Influencer Marketing?

Influencer Marketing is a social-media based channel with a very broad concept. Brands strategically partner with social media influencers (usually those with large followings across multiple social media channels) to increase brand engagement, product awareness, and ultimately, customer acquisition.

Over the last 2-3 years, it seems that a new influencer marketing platform launches every week. While some focus on monetizing and tracking the influence of brand ambassadors and athletes, other focus purely on brand awareness through social media campaigns. This isn’t a new concept. In fact, we (Clique) have been doing this for years through affiliate marketing programs by creating subset athlete/ambassador and gear review programs. We used to call this “core affiliate marketing”, which meant partnering with affiliate websites that target the same communities as the brands/clients we represent.

How It Works

  • Multiple Options

    Influencer marketing can be approached from many angles and there are platforms that cater to each. Popular applications include ambassador, employee and customer advocacy, social media, offline to online, content creation and more. Better yet, both small and large brands can be successful in this channel.

  • Designed With Simplicity In Mind

    Influencer marketing is designed to be simple. Links tend to be short and very easy to create (unlike some affiliate links.). For example, we work with a platform called Fervora that uses a hashtag system for link creation. Through this platform, I simply add #brian to any brand website URL that I’ve partnered with – http://www.jensenusa.com/#brian. This allows the influencer to do what they do best without having to worry about complicated tracking links.

  • Cost Effective

    If you’re working with a limited budget, influencer marketing can be even more cost effective than affiliate. We’ve found most platforms have a monthly service fee and small commission.

  • Influencers Have Authority

    When an influencer recommends a product or brand there’s a certain level of clout that comes with that recommendation. Unlike the most successful affiliates, influencers are less likely to need discounts and coupons to convert sales. This results in a higher return on ad spend for the brand/retailer.

81% of U.S. online consumers’ purchase decisions are influenced by their friends’ social media posts versus 78% who are influenced by the posts of the brands they follow on social media.

Source: Market Force

Businesses are making $6.50 for each $1 spent on influencer marketing, with the top 13% earning $20 or more. With 70% earning $2 or more for each $1 spent, chances are high that influencer marketing will be a win for your brand.

 

Source: Tomoson.com

In 2016, influencer marketing was a $1.6 billion industry. By 2020, the trajectory predicts that it will be a $10 billion industry.

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