What is influencer marketing? Grow your market through social media – Simply Business knowledge
Working with the Advertising Standards Authority
The Advertising Standards Authority (ASA) regulates all advertising in the UK to make sure that theyre all following the same rules. Its not unique to influencer marketing, but you do often hear about the ASA in regards to influencer marketing due to how easy it is to break the rules.
When working with an influencer, you need to make sure that their posts follow the ASA guidelines. For example, if youre gifting your product to an influencer for a review, or offering monetary compensation, the influencer needs to make sure that this is clearly stated in their post.
This also includes if you hire an influencer to act as a brand ambassador for your business. Any incentive or relationship, no matter how small, needs to be disclosed.
According to the ASA, some acceptable ways to mark a post as a collaboration between an influencer and a business include:
#Ad
#Advert
#Advertising
#Advertisement
#AdvertisementFeature
You can read the full ASA guidelines for influencers here.
While you may usually relate influencer marketing campaigns to larger businesses, there are plenty of benefits for small businesses using influencer marketing to grow their business.
If you know your products are particularly popular with a specific demographic, or youre hoping to target another, finding an influencer whose audience matches that demographic could increase your sales.
For example, if youre a designer who makes sustainable handbags, collaborating with a sustainable fashion influencer could be a good match due to your business and their audience sharing similar values.
But influencer marketing doesnt just have to revolve around fashion. Perhaps you manufacture custom products for cars in which case, a car influencer would be a great match for your business.
Influencer marketing can also be a cost effective way to market your business. This will depend on a couple of factors, such as:
popularity of influencer an influencer with a higher follower count will usually charge more for sponsored posts
type of collaboration you may agree to pay an influencer a fee to post about your business, or you may choose to send them your product for free in exchange for a review, the latter of which is likely to have a better return on investment
type of post a series of videos will likely cost more than a mention on Instagram stories, for example
If youre still interested in trying out influencer marketing, its important you develop a proper influencer marketing strategy. Its not a one size fits all approach, so follow the below steps to make sure youre getting the most out of any collaborations including expert tips from a professional social media manager.
As mentioned above, you need to make sure the audience youre targeting is a good fit for your product or service. Understand your target audience through market research and then cross reference this with insights into any influencers demographics.
Some influencers will be happy to share these insights with you when agreeing on brand deals, but otherwise you can get a good understanding by taking a look at the accounts who engage most with their posts.
Danielle Read, Social Media Manager at Simply Business, says: A good tip is to not pay too much attention to follower count as this doesn't always translate to high engagement.
Between inactive accounts and bots, a high follower count doesnt necessarily mean a large audience. Looking at recent likes and comments can help you see the most engaged users.
Other than influencer demographics, you also need to make sure youre picking the right personality for the job.
Danielle agrees, saying: Authenticity is key to influencer marketing, so make sure that any influencers you work with are a genuine fit for the products or services youre looking to sell.
Some things to consider include:
brand loyalty to competitors
if they use similar products
if previous sponsored posts seem authentic
And when thinking about the type of content to post, trust your influencers expertise. Danielle adds: Dont be too prescriptive with what you would like an influencer or content creator to post about your business.
Influencers have grown an engaged following because they understand what their audience want to see, so trust is needed if an influencer is creating content about your brand. Make sure you have a strong feedback and sign off process to ensure youre both on the same page.
Its important to build a good relationship with the influencers you work with, as this could portray your brand in a positive light. They may even continue to promote your brand outside of any agreed paid advertising.
Your influencer marketing strategy will differ depending on what you hope to achieve. Do you just want to increase your brand awareness? Or are you looking to drive sales? Perhaps you want to expand to a new target audience?
Whatever you decide, its crucial to identify these goals early on in the process, as clear objectives will help you when it comes to choosing the right influencer to work with.
Read more: How to set business goals: top tips from successful entrepreneurs
As with any marketing strategy, you want to make sure that your hard work pays off. Measure your success by monitoring the performance of your influencer marketing campaigns to determine whether this is something you want to continue investing in.
You can use social media engagement rates, but also an increase to your website traffic or sales. To see exactly how people are finding your website, you could consider using a UTM (Urchin Tracking Module) code. This is a piece of text at the end of a URL in marketing campaigns which allows you to see your traffic sources.
You could also offer a discount code for the influencer to give to their followers, allowing you to see how many sales came directly from their content.
Read this article:
What is influencer marketing? Grow your market through social media - Simply Business knowledge
- NFL Schedule Release: the Super Bowl for Ticket Sales, Social Media - Sportico - May 15th, 2024 [May 15th, 2024]
- Emplifi Earns Nine 2024 Top Rated Awards From TrustRadius - Martechcube - May 15th, 2024 [May 15th, 2024]
- Let them create: Social media marketing expert weighs in on working with creators amid potential TikTok ban - eMarketer - May 15th, 2024 [May 15th, 2024]
- Aki Technologies and @dudewithsign Partnership Promotes Elevated Social Marketing Standards - EIN News - May 15th, 2024 [May 15th, 2024]
- CP LAND Wins Asia's Best Social Media Advertising Campaign - Bangkok Post - May 15th, 2024 [May 15th, 2024]
- Social Media Market 2024-2030 Giants Spending is Going To Boom | Sprout Social, Brand24, Statusbrew, AgoraPulse ... - openPR - May 15th, 2024 [May 15th, 2024]
- Study: 55% of businesses plan to increase their use of AI tools in social media strategies - Marketing Interactive - May 15th, 2024 [May 15th, 2024]
- Fast facts: What's the social sentiment like as Lawrence Wong becomes PM? - Marketing Interactive - May 15th, 2024 [May 15th, 2024]
- Social Media Management Market is expected to reaching nearly US$ 98.49 Bn in 2030 As Revealed In New Report - WhaTech - May 15th, 2024 [May 15th, 2024]
- Using LinkedIn to Increase Your Sales - Social Media Examiner - May 11th, 2024 [May 11th, 2024]
- Using LinkedIn to Increase Your Sales - Social Media Examiner - May 11th, 2024 [May 11th, 2024]
- AI social media post generator and manger Unum saves time - Cult of Mac - May 11th, 2024 [May 11th, 2024]
- AI social media post generator and manger Unum saves time - Cult of Mac - May 11th, 2024 [May 11th, 2024]
- Op-Ed | How Long Will the Luxury Myth Last? - The Business of Fashion - May 11th, 2024 [May 11th, 2024]
- Op-Ed | How Long Will the Luxury Myth Last? - The Business of Fashion - May 11th, 2024 [May 11th, 2024]
- Social Stealth: The Art of Marketing Without Mentioning It - YourStory - May 11th, 2024 [May 11th, 2024]
- Social Stealth: The Art of Marketing Without Mentioning It - YourStory - May 11th, 2024 [May 11th, 2024]
- TikTok is first social media platform to label AI-generated content - Marketing Beat - May 11th, 2024 [May 11th, 2024]
- TikTok is first social media platform to label AI-generated content - Marketing Beat - May 11th, 2024 [May 11th, 2024]
- The Power of Influencer Marketing in Direct Selling: Leveraging Social Media to promote brand - Indiantelevision.com - May 11th, 2024 [May 11th, 2024]
- The Power of Influencer Marketing in Direct Selling: Leveraging Social Media to promote brand - Indiantelevision.com - May 11th, 2024 [May 11th, 2024]
- The Top 30 Social Media Influencers Worldwide - Search Engine Journal - May 5th, 2024 [May 5th, 2024]
- Global social media ad spend to approach 200bn in 2024 - Marketing Week - May 5th, 2024 [May 5th, 2024]
- 16 Of The Best Social Media Marketing Courses in 2024 - Search Engine Journal - May 5th, 2024 [May 5th, 2024]
- Heres what Bumble was teasing with its Renaissance art-themed Instagram posts - Ad Age - May 5th, 2024 [May 5th, 2024]
- LinkedIn Data Shows Social Media Marketing is the Most In-Demand Skill on the Platform - Digital Information World - May 5th, 2024 [May 5th, 2024]
- SEC charges Trump Media auditor with 'massive fraud' on hundreds of companies, imposes lifetime ban - CNBC - May 5th, 2024 [May 5th, 2024]
- Compliance makes social media healthcare marketing hard but creativity always wins - The Drum - May 3rd, 2024 [May 3rd, 2024]
- LinkedIn Updates: Short-Form Video, Premium Company Pages, and More - Social Media Examiner - May 3rd, 2024 [May 3rd, 2024]
- Humanizing Brands: How brands are creating authentic connections through social media - Adgully - May 3rd, 2024 [May 3rd, 2024]
- A2Z Media Celebrates Nissan Qatar's Award Wins for Marketing Performance and Social Media | LBBOnline - Little Black Book - LBBonline - May 3rd, 2024 [May 3rd, 2024]
- Social Media Analytics Market Sees Unprecedented Growth Driven by the Growing Influence of Social Media on ... - StreetInsider.com - May 3rd, 2024 [May 3rd, 2024]
- Executives from top Memphis-area social media firms weigh in on trends, AI - The Business Journals - May 3rd, 2024 [May 3rd, 2024]
- Master Social Media Marketing with Tips from Small Business Experts - Small Business Trends - May 3rd, 2024 [May 3rd, 2024]
- Influencer relationships (with consumers & brands) are evolvingwhat does that mean for marketers? - Sprout Social - May 3rd, 2024 [May 3rd, 2024]
- The Rise of AI Influencers: Exploring the Future of Social Media - AutoGPT - May 3rd, 2024 [May 3rd, 2024]
- As TikTok ban threatens stability in social media ecosystem, some brands settle into the fediverse - Digiday - April 28th, 2024 [April 28th, 2024]
- Gen Zers in marketingwhy executives must embrace their ideas for social media success - Ad Age - April 28th, 2024 [April 28th, 2024]
- 9 Best Business Automation Software in 2024 - eWeek - April 28th, 2024 [April 28th, 2024]
- The 2024 Influencer Marketing Report - Sprout Social - April 28th, 2024 [April 28th, 2024]
- Why the U.S. Is Forcing TikTok to Be Sold or Banned - The New York Times - April 28th, 2024 [April 28th, 2024]
- Social media marketing strategies to avoid in 2024 - Android Headlines - April 28th, 2024 [April 28th, 2024]
- Time to Buy Meta Platforms (META) and Other Social Media Stocks as Earnings Approach? - Yahoo Finance - April 28th, 2024 [April 28th, 2024]
- A US TikTok ban could take a bite out of small businesses - BBC.com - April 28th, 2024 [April 28th, 2024]
- How Pastor Chad Nedohin Helped Turn Trump Media Into a Meme Stock - The New York Times - April 28th, 2024 [April 28th, 2024]
- Content That Triggers Massive Reach on Social Media - Social Media Examiner - April 20th, 2024 [April 20th, 2024]
- APA report calls on social media companies to take responsibility to protect youth - APA Psychology News - April 20th, 2024 [April 20th, 2024]
- AirChat Uses Voice Technology to Stand Out in Social Media Market - PYMNTS.com - April 20th, 2024 [April 20th, 2024]
- Gen Z is turning traditional marketing on its head, making social media their primary marketplace, entertainment hub ... - CXOToday.com - April 20th, 2024 [April 20th, 2024]
- Influencers Harness AI to Boost Fame and Fortune - PYMNTS.com - April 20th, 2024 [April 20th, 2024]
- Trump's social media company will go public after merger with shell company is approved - WDSU New Orleans - March 24th, 2024 [March 24th, 2024]
- Navigating the Uncharted Territory of Social Media Marketing - WebProNews - March 24th, 2024 [March 24th, 2024]
- YouTube Updates: Shorts Features, Creator Tools, Podcasts, and More - Social Media Examiner - March 24th, 2024 [March 24th, 2024]
- Reddit prices IPO at $34 per share in first major social media offering since 2019 - CNBC - March 24th, 2024 [March 24th, 2024]
- What Reddits IPO means for Redditors and what could change - The Washington Post - March 24th, 2024 [March 24th, 2024]
- Reddit shares priced at $34 in largest IPO by social media company in years - The Guardian - March 24th, 2024 [March 24th, 2024]
- How does Trump stand to make $3bn from Truth Social being listed on the market? - The Guardian US - March 24th, 2024 [March 24th, 2024]
- Supreme Court appears favorable to Biden administration in social-media case - MarketWatch - March 24th, 2024 [March 24th, 2024]
- Social media marketing alters the ad landscape with a focus on sustainability - Campaign Middle East - February 20th, 2024 [February 20th, 2024]
- Social Media Marketing In the Digital Age - MarTech Outlook - February 19th, 2024 [February 19th, 2024]
- Valentine's Day takes over in SG: Brands share their unique love stories on social - Marketing Interactive - February 19th, 2024 [February 19th, 2024]
- How brands are planning to navigate the social media & marketing landscape in 2024 - The Drum - January 16th, 2024 [January 16th, 2024]
- Driving Conversions With Hyperlocal Social Media Marketing - NeilPatel.com - January 16th, 2024 [January 16th, 2024]
- 13 Social Media Experts Offer Their Predictions For 2024 - Search Engine Journal - December 30th, 2023 [December 30th, 2023]
- Social T Marketing & PR Expands Team with 2 New Hires - The Valley Ledger - December 17th, 2023 [December 17th, 2023]
- Consumers to abandon social media but accept GenAI search results marketing survey shows - Moonshot News - December 17th, 2023 [December 17th, 2023]
- Dear companies, your social media marketing is tedious and it's cheapening your brand - The Peak Singapore - December 17th, 2023 [December 17th, 2023]
- Labour must straddle the education divide to achieve victory - The Social Market Foundation - December 1st, 2023 [December 1st, 2023]
- Public opinions and social trends, Great Britain: 15 to 26 November ... - Office for National Statistics - December 1st, 2023 [December 1st, 2023]
- Destinations weigh up impact of AI - PhocusWire - November 23rd, 2023 [November 23rd, 2023]
- Sociable: Will chaos at OpenAI benefit social media's AI projects? - Marketing Dive - November 23rd, 2023 [November 23rd, 2023]
- Big Bang Social & Comscore Partner to Revolutionize Creator ... - Adgully - November 23rd, 2023 [November 23rd, 2023]
- USF researchers help reduce lead levels in Madagascar drinking ... - University of South Florida - November 23rd, 2023 [November 23rd, 2023]
- 5 marketing lessons from the Taylor Swift and Travis Kelce romance - Kansas Reflector - November 23rd, 2023 [November 23rd, 2023]
- Apple and Disney Halt Ads on X After Musk Endorses Antisemitic Post - The New York Times - November 23rd, 2023 [November 23rd, 2023]
- News Release Holidays at the Market Returns Sunday with ... - City of Rochester (.gov) - November 23rd, 2023 [November 23rd, 2023]
- SMF responds to Autumn Statement 2023 - The Social Market Foundation - November 23rd, 2023 [November 23rd, 2023]
- Dove partners popular virtual ghost influencer in latest positivity push - Marketing Interactive - November 23rd, 2023 [November 23rd, 2023]
- This social media app is surprisingly the most popular among online ... - Marketing Interactive - November 23rd, 2023 [November 23rd, 2023]
- California Clean Boating Network (CCBN) Meeting The Log - The Log Newspaper - November 23rd, 2023 [November 23rd, 2023]
Tags: