Influencer marketing ad spend is expected to reach $5 to $10 billion by 2022. And every time a user follows an influencer, the latter expects to obtain $1 in future earnings. The profitability in this area is overwhelming, undeniable, and increasing more than ever before. More influencers – or those who successfully “influence” the decisions of followers on social media – are entering the digital space. And more marketers – or those who seek the ability to influence consumers – are catching on to the benefits of working with these individuals. By aligning with nano, micro, or big-name influencers, a brand is able to unlock millions of target audience listeners. Gained access comes with a price tag, but the benefits, (especially when aligned with programmatic,) are immense. Understanding the different types of influencers and the cost of working with each can help your brand navigate this booming, long withstanding area of advertising.
The Types of Influencers and Their Earnings:
- Nano Influencers: Nano influencers are those who influence as a side hustle when they return home from work. They are approachable, everyday people with 1,000 to 5,000 followers, (maybe even less depending on the size of their niche audience). Numbers aside, nano-influencers are leaders of smaller social media cliques with voices that are focused and heard. Their lack of fame, yet willingness to share any opinion is gold to advertisers hoping to increase targeted brand awareness. They have a personal connection and mutual trust with their followers, making them an inexpensive, worthwhile investment. Depending on why and how they influence, a nano influencer can make anywhere from $30-$60,000 a year. Many even accept free samples over handfuls of cash for posting.
- Micro Influencers: This group has great experience and reputability in the social media space. Though they haven’t achieved “star status” yet, micro influencers are able to make a major impact upon their 10,000 to 50,000 followers with any type of post. They have a specific niche and their engagement – seen by the amount of comments, likes, tags, and shares they receive – is off the charts. Large, targeted groups listen to them and trust the products they promote. This resonance, mixed with an expansive, impressive reach, can bring in a salary of $40-$100,000 per year. Because any brand of any size can work with them, ample micro influencers are starting to leave desk positions behind to make “influencing” a full-time job.
- Influencers: Whether post-reality star or social media pro, these individuals have 1 million plus followers and can charge anywhere from $10,000 to even $250,000 per post. These are the people who influence as a full-time job and have dominating, powerful voices within targeted spaces (think beauty, fitness, college life, etc.). They are expensive to work with, but their trusting, obsessive audience makes them a considerable investment. Their relatability makes brands more willing to work with them than big-name celebrities, but growth in nano-influencing is cause for concern. As an influencer’s following count increases, when is the relevance lost? The ability to stay focused while maintaining a large following is what will keep members of this group afloat.
Why Partner With Influencers Programmatically?
72% of big brands are dedicating substantial portions of their marketing budgets to work with influencers. It is a manageable option that allows advertisers to get right in front of targets without the use of forceful, unattractive promotions. Instead, influencers can post about a brand and align it with their own experience to make the product or service more desirable. In short, influencers have an incredible ability to make companies more valuable to consumers. People follow these individuals and already like something about them and their accounts, when they add advertising to the mix, consumers aren’t bothered — they embrace it.
By incorporating programmatic, a company is able to retarget sponsored content to more accounts in the target audience, (followers of the influencer or not). Programmatic can also assist in finding great influencers for your brand to work with.
A human element is still required in the process, however, to accurately ensure the partnership would be a strong match. There has to be an analysis of the niche, the followers, the content and sponsorships that had been posted in the past; a background check to the max. Once completed, a brand can then reach out and establish regulations and payment measurements. From there, marketers have access to millions of untapped audiences across a number of social media platforms. And if the balance between all three influencer groups is embraced, your company can become a low-spending, high-earning influencer marketing pro in no time.
Interested in adding social influencer marketing into your 2019 media plan? Reach out to us here to learn more about all the benefits of combining influencer marketing and programmatic.