What is the Value of a Social Media Influencer?

Social Media Influencer

Social media influencers can be a powerful ally for any business. But like any investment, it’s important to consider the cost – not to mention the value you get in return.

In truth, there’s far more to social media influencing than the return on investment (ROI) alone. Read on as we look at ways of tracking ROI from influencers on social media, and the value they add elsewhere.


Why influencer value is tricky…

ROI is calculated by dividing financial gain by the cost of an investment. It’s shown as a percentage, with larger numbers signifying a better ROI.

However, in marketing, that calculation doesn’t quite work. Why? There are a number of factors that can lead to financial gain over time, but they’re not easy to attribute to a single marketing campaign.

That’s especially the case if influencers are promoting your brand rather than specific products or services. How do you measure the results of better brand awareness? Let’s say you get 500 likes on a social media post that’s shared by an influencer or 1000 new followers following their involvement. It’s hard to put a specific value on this, but it can’t simply be dismissed.

In many cases, companies will take an educated guess. Unfortunately, this can be problematic when it comes to reviewing success. How can you decide whether a campaign was worthwhile if you don’t know its value? Should you continue using influencers or would your investment be better elsewhere?


Is there a solution?

How can you track how much you’re getting back from your investment in influencer marketing?

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At Find Your Influencer, we provide influencers with a unique URL to use in their promotions, allowing brands to precisely track how many sales are generated by people clicking through on their links. This allows you to see how specific influencers are performing, calculating a specific ROI for each influencer. If you’re using multiple influencers, you can compare these numbers to see who is providing the most value directly.


Added value from social media influencers

With influencer marketing, it’s not just about direct ROI. There are several factors which could lead to more sales for your business over time, but that wouldn’t necessarily be attributed to your influencers. That’s important to consider the value they add elsewhere…

Awareness

One of the biggest benefits of influencer marketing is that it gets your brand out there. Potential customers become more familiar with your brand the more they’re exposed to it online.

Should they eventually see your products in store or an advert for your services, they might be more likely to make a purchase having seen the brand before.

Following

Having your business promoted by influencers on social media can also lead to more people following you on those platforms. That means a bigger audience to connect with, build loyalty within and sell to in the future.

Association

In some cases, influencer marketing can even create an association between your brand and the influencer’s characteristics or qualities. Customers link your product to what they know about the influencer.

Just look at Mo Farah’s endorsement of Quorn on TV adverts. Suddenly, Quorn is seen as the food product for health enthusiasts.

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Find a social media influencer for your brand

Influencers can add huge value to any business. But it’s important to find the right fit for your brand. At Find Your Influencer, our goal is to make this process a whole lot easier.

To get started, you can list your campaign on our site. Influencers will contact you, so you can discuss the project directly and find the right person for you.

If you’re looking for more support, our team is on hand to manage the whole process. We can assist with briefing, contracts, delivery, reporting – and recommend the best influencers for your campaign. Any questions? Give us a call on 0161 731 0048.

What is a good Instagram engagement rate?

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Engagement rate in influencer marketing is used to measure the level of interaction an influencer typically receives on their content. Simply put, it is the percentage of the influencer’s audience that responds to their content.


Calculating an Instagram influencer engagement rate

The first option for calculating your Instagram engagement rate is to divide their total number of likes and comments (past 30 days) by their follower count, and then multiply by 100 to give you a percentage.

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So what is a good engagement rate?

To understand what the number actually means and whether it is good or bad. Below is an industry standard guideline so you can benchmark results:

Less than 1% = low engagement rate 

Between 1% and 3.5% = average/good engagement rate 

Between 3.5% and 6% = high engagement rate 

Above 6% = very high engagement rate 

In summary, as an industry standard, an engagement rate on Instagram between 1% and 3% is generally good, it is the average we see on an influencer's profile. If the engagement rate is higher than 3%, that is a good sign that their audience is very engaged with their content, and if it is below 1%, it means their audience as a whole is not very engaged with their content. 

Keep in mind, a number of things influence engagement rate on Instagram, such as the time of each individual post, the frequency of posting, the number of followers, the content and messaging and the Instagram algorithm (and the limitations that sometimes come with it).

So when you are deciding what influencer to work with, or comparing a cohort of influencers, make sure you consider engagement rate. It's an important metric to consider and should not be ignored when choosing influencers for your campaign. 


If you have any questions about engagement rates on Instagram, or would like to collaborate with a UK influencer, you can email hello@findyourinfluencer.co.uk or call 0161 731 0048 to chat with our team any time.

5 Key Components for a Successful Influencer Marketing Campaign

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The vast majority of marketers across the globe are increasing their influencer marketing budgets for 2019, and by 2022 Influencer marketing ad spend is poised to reach between $5 billion and $10 billion! A recent study also showed that a majority of marketers will spend anywhere from $25,000 to $100,000 on influencer marketing.

So, what makes a successful influencer marketing campaign? We’ve listed below what we believe to be the top five key components:

 

  1. Proven Influencers

Identifying the right influencers is integral to your campaign, with 75% of marketers identifying it as their biggest challenge. Not all influencers are created equal, and knowing the difference between micro, power-middle, and top-tier influencers will help to determine who is right for your campaign.

Holding influencers accountable for driving business results is necessary for a successful influencer campaign. An effective influencer campaign utilises influencers who have the proven ability to engage with their followers, and inspire them to take action. The effectiveness of influencers is determined by engagement, clicks and conversions, not by their follower count.

 

2. Compelling Story

It’s important to create messaging that can be translated into a larger brand story – stories can affect consumers far more than billboards, statistics, or discount offerings. Information is better retained when it’s consumed in story-form, and influencers are effective storytellers, having amassed their following as a result of their ability to emotionally connect with and understand their followers.

 

3. Variety of Quality Content

As consumers pay less and less attention to traditional advertising methods, it becomes increasingly important for marketers to develop new ways to creatively capture audience attention. Influencer content is valuable because each piece is unique and produced in the same style that made the influencer successful in the first place, while presenting the brand’s core message in a manner that resonates with the audience. The content establishes an emotional connection between the influencer and their influencers, and is effective in inspiring action.  

Content creator and Instagram guru, @allthatsheis, is a great example of how an influencer can use her style and creativity to capture the attention of her audience. Her carefully-curated feed, which she updates once a day, has become something of a modern art form. Major brands such as Disney, Dyson, eBay, Mastercard, and many more, have cottoned on to the Instagram influencer and have all commissioned her to run advertisements on her channels. 

 

4.     Actionable CTA

The call-to-action (CTA) should be short, direct and actionable. Consumers need to be offered something that they need, which will then drive them to the next step in the process. A strong CTA compels consumers to take the further action desired of them, whether it’s visiting a landing page in order to learn more about the product or brand, signing up for a mailing list, a giveaway, a coupon, or making a purchase.

 

Photo credit  @fashioninflux

Photo credit @fashioninflux

5. Tracking your ROI

It's imperative when working with influencers to have a strong tracking mechanism. Ask influencers to use trackable links so you can measure traffic, engagement and, ideally, conversions on your site if possible. Alternatively, you could direct your influencer campaign into a branded landing page in order to measure the ROI of that influencer. The influencers can have as much free reign as you'll permit, as long as they drive their audience where you want them to go. Once on the landing page, you, as the brand, can incentivise the users and capture their lead info for measurement data and future communication.

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NEED SOME HELP?

Not sure where to start with your influencer marketing campaign? Contact us today on 0161 731 0048 or email us on hello@findyourinfluencer.co.uk

 

How to Prevent Influencer Marketing Fraud

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Earlier this year, Unilever CMO, Keith Weed announced that the company “is pushing for greater transparency in the influencer marketing space to combat fraud in the digital ecosystem; create better experiences for consumers; and improve brands’ ability to measure impact.”

It’s a very real concern for brands across the globe, but short of being put off, the WFA found that 65% of multinational brands plan to increase their influencer investment in the next 12 months. 

At FYI, we feel the responsibility falls on influencer marketing agencies such as ourselves, to educate brands and marketers on how to improve the integrity, transparency and measurement of influencer marketing.

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QUALITY OVER QUANTITY

Currently the influencer marketing landscape rewards influencers with the largest following, and using reach as a way to gauge the success of a campaign. In order for this landscape to change, brands must validate that they are partnering with quality content creators with reliable influence, independent of metrics like reach. To be effective, marketers will need to abandon notions of perceived influence based on number of followers and align influencer incentives to the delivery of an actual business result. 

INFLUENCER MARKETING FRAUD PREVENTION IS BUILT INTO EVERYTHING WE DO

At FYI we verify the legitimacy of our influencers, monitoring engagement rates, click rates, comment sentiment, like-to-comment ratios, and follower growth patterns to verify that our influencers are real people with real audiences.

To discover what real influencers with guaranteed results can deliver for your business, contact us today on 0161 731 0048 or email us on hello@findyourinfluencer.co.uk

 

How influencer marketing accelerates the path to purchase

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While one in three consumers trust influencer opinions and recommendations when making purchase decisions, it’s important to note that consumers are not referring to traditional celebrity endorsements. Rather, consumers trust people who are just like them – peers they identify with who have built sizeable social followings based on authentic content and the relationship they’ve built with their audiences – and they trust these individuals over celebrities at a rate of seven to one.

As a result, more than a third of marketers (36%) will integrate influencer content with e-commerce to drive product sales this year. When combined with traditional shopper marketing tactics like free samples or elaborate in-store displays, influencer shopper marketing can deliver concrete business results across every stage of the path to purchase, from awareness and consideration to conversion and purchase.

1. Awareness

Whether looking to generate awareness for a product launch or a seasonal push, influencer marketing campaigns can activate hundreds of influencers who create thousands of pieces of original content about a product or brand. The influencers then share the content across multiple social networks, increasing awareness through authentic stories and experiences versus the limited amount of real-estate available in brand-created traditional ads or digital display ads.

2. Consideration

84% of consumers say that it’s important to hear about others’ experiences before making a purchase. By nature, influencer marketing is ripe ground for cultivating honest product reviews and other valuable content like tips, recipes, or how-to articles and tutorials. Consumers that are introduced to a product or brand through positive affirmation by a trusted source are more likely to consider purchasing the product for themselves.

Video credit to Jamie Genevieve

3. Conversion

Now that you’ve got their attention, how do you convert their likes and shares into clicks to learn more and email newsletter signups? It’s uncommon that consumers take a deeper action during the first introduction to a product or service, so brands turn to influencer marketing to inspire conversions over time. Today, more brands are investing in multi-flight, “always on” influencer marketing campaigns versus individual, one-off initiatives to nurture prospects into customers and drive deeper loyalty.

4. Purchase

Performance-based influencer marketing programs that are built to drive lower-funnel goals hold influencers accountable for creating content that inspires their audiences to take action. When structured to perform against specific shopper marketing goals, like in-store or online purchases, influencer marketing programs drive concrete business results that go far beyond short-term vanity metrics like reach.

Reaching your target consumer with a relevant message at the moment they are ready to make a purchase and inspiring them to take action is the ultimate goal for shopper marketing campaigns. From awareness and consideration to conversion and purchase, influencer marketing’s ability to drive consumers down the path to purchase through the trusted opinions of their peers is the hottest new tactic in every shopper marketer’s media mix.


NEED SOME HELP?

Not sure where to start with your influencer marketing campaign? Contact us today on 0161 731 0048 or email us on hello@findyourinfluencer.co.uk

Influencer Marketing for the Hotel Industry

Influencer marketing for hotels

Generating exposure can be tough for any brand, no matter how big or small. And that goes for the hotel industry too.

Unfortunately, it doesn’t matter how beautiful your lakeside view is or how crisp your linens are if nobody sees them. You need to spread the word far and wide, and one of the most incredible ways to do it is with influencer marketing.

This new approach to social media marketing can generate up to 11 times the ROI of traditional advertising – and it’s hard to argue with cold hard numbers. Keep reading to find out how your hotel brand can take advantage of the up-and-coming trend…

 

Your target market is turning to social media

In this modern age, people are going online to perform in-depth research before making decisions on purchases – and they’re turning to influencers for guidance too.

Did you know that 66% of your audience trust consumer opinions posted online? Add in the fact that only 1% of millennials (that’s people aged 18-34 to me and you) have been influenced by a traditional advert, and it’s easy to see why influencer marketing is skyrocketing.

95% of millennials follow brands through social media. That’s a huge demographic – fresh to the workforce with disposable income – all flocking to the same few online platforms. Whether it’s Snapchat, Twitter or Instagram, it’s incredibly important to ensure your brand is represented in a positive light on the same platforms your target customers are using. And influencer marketing is a powerful way to achieve this goal.

Photo credit to  Em Sheldon

Photo credit to Em Sheldon

Does influencer marketing work in the hotel industry?

100% yes. In fact, 42% of baby boomers admit that social media influences their booking decision. And, according to research into millennial travel trends, 87% look at Facebook for travel inspiration with 97% posting their experiences online whilst travelling.

Influencers hold significant weight, whether it’s through tweets, blogging or vlogging. They have the power to affect purchase decisions. From 1,000 to 100,000 followers, influencers have clout which can’t be ignored. This is especially prevalent in the travel industry, where consumers are more likely to use social media for inspiration, reviews and recommendations.

Consumers react positively to influencer marketing due to increased loyalty. And people trust influencers to deliver posts that are #travelgoals.

Can influencer marketing help my hotel brand?

With the right know how and the appropriate influencers, hotels and accommodation providers can build prosperous and significant relationships.

As a hotel, you may be missing out on a whole range of guests. Influencers can navigate these people to your website directly, using hashtags, images and videos. The aim is to entice customers with content that makes them want to hop, skip and jump all the way to your front door.

The beauty of the influencer is that they can help you understand and adapt your strategies. Influencers capture data, create original content and boost sales. With relatively little input on your part, you can enjoy a fantastic ROI and a wider global reach.

 

Finding the best influencer for your business

Before jumping into influencer marketing there’s a couple of things to keep in mind.

  1.  You want to build lasting relationships – The more the influencer trusts and enjoys your hotel, the more other guests will. It’s about the long-term engagement, it shouldn’t be a quick fix.
     
  2.  You understand your brand more than anyone else – That’s why it’s important to connect with an influencer who can match this brand seamlessly, whilst still bringing their own original ideas and content. This makes the marketing seem less “staged” and gives a sense of authentic content.

Need some help?

Not sure where to start with your influencer marketing campaign? Contact us today on 0161 731 0048 or email us on hello@findyourinfluencer.co.uk

4 INFLUENCER MARKETING TRENDS IN 2018 

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1. Marketers Fight Against Influencer Marketing Fraud

The shift from surface level, fluffy metrics like reach and awareness signals the growing importance of influencer marketing fraud prevention in 2018. Marketers are willing to invest in the security needed to guarantee the quality of influencers and their audiences in order to maintain the authenticity of influencer content and protect their brands from fraudulent activities. This often includes working with influencer marketing agencies such as Find Your Influencer, who will go the extra mile to monitor the veracity of audience size, online engagements, and click numbers.

 

2. Influencer Content Drives Greater Returns from Paid, Owned, and Earned Media

Influencer content is nuanced, original, and authentic. The most successful influencer marketing campaigns are the ones where the influencer content is used beyond the original scope of the campaign to improve the performance of other channels (email, website, paid social, native advertising, etc.). 51% of marketers that repurpose influencer content report that it outperforms brand-created content, and of those who have yet to test influencer content against brand created content, 59% plan to do so this year.

Expect to see more brands A/B testing influencer content against brand-created content to determine what pieces will deliver the best results. Advanced marketers will then develop a strategic blueprint using those assets to drive incremental performance from their paid, owned and earned media.  

 

3. Influencer Content Integrates with E-Commerce to Drive Sales

More marketers are looking at the full consumer journey and holding influencer marketing accountable for driving lower funnel metrics in addition to awareness and engagement. High-impact recommendations, like those from a friend or trusted influencer, are 50 times more likely to trigger a purchase than low-impact recommendations, like ads in a magazine.

 

4. Advertising/Media Takes Ownership

As targeting capabilities evolve, advertising and media teams, who traditionally have larger budgets, are taking ownership of influencer marketing and managing campaigns with the same rigor that they use with other digital advertising channels. In 2017, 38% of influencer marketing owners were on advertising/media teams, whereas only 15% identified as PR/communications, a notable decrease from 31% in 2016.

In 2018, influencer marketing will more commonly become a line item in the advertising/media budget. The extra pounds allocated to these teams allows marketers to scale the size of their influencer marketing campaigns, increasing the number of influencers they work with and putting more pounds behind the content that’s proven to perform.

It’s no longer a question of whether or not influencer marketing works as it’s been proven to drive concrete business results time and time again. So what can we expect to see from influencer marketing in 2018? Not only will brands invest more in the tactic to combat fraud and ensure its authenticity, but they will also use influencer marketing to test various methods to identify which strategies are the most effective at driving results. Once they’ve developed a strategic blueprint, we’ll see the advanced brands scale their campaigns to drive lower-funnel metrics and greater returns from paid, owned, and earned media.

 

Got a question about Influencer Marketing? Email us on hello@findyourinfluencer.co.uk or call 0161 731 0048

Rise Of The Silver Insta-Influencers

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It's the new job on the block - but until now, the coveted role of online 'influencer' has remained pretty much the preserve of young women, as they pout their fresh-faced way to wages of thousands of pounds.

However, this could be changing with the increasing influence of silver surfers and their growing presence on Instagram - in particular older women.

Stats released last year by the Office of National Statistics revealed the use of social media was rising fastest amongst the middle-aged.

It's the new job on the block - but until now, the coveted role of online 'influencer' has remained pretty much the preserve of young women, as they pout their fresh-faced way to wages of thousands of pounds.

However, this could be changing with the increasing influence of silver surfers and their growing presence on Instagram - in particular older women.

Stats released last year by the Office of National Statistics revealed the use of social media was rising fastest amongst the middle-aged.

Two thirds of 45- to 54-year-olds in the UK are now on a social network, while the proportion of 55-to-64-year-olds using social media passed 50% in 2015.

Instagram is after all one of the most user-friendly of online platforms or social media accounts - it's a lot simpler than Facebook as an interface, and tends to showcase the finer things in life, which a senior audience appreciates more.

Sign up, upload photos and boom, you're done. Being such a visual medium, it's easy to share and celebrate your wonderful life, earned by all those extra years you've spent on the planet. Stylish and creative women are more likely to sign up to Insta to get and share inspiration with their own demographic too. They're also more likely to seek out and connect with their own age group online in addition, rather than for aspirational reasons or to clock the latest antics of the myriad Kardashians. They're more likely to follow style legends like Diane Keaton - 12k followers and counting.

The fashion industry for one is turning to Instagram more and more to find its latest more mature stars, after being repeatedly stung by accusations of ageism in recent years.

Instagrammer and fashion blogger Lyn Slater, 63, (120k followers on Instagram) is the current face of Mango and Scottish stylist Gillean McLeod, 61, (3,329 followers) last year modelled swimwear for H&M.

Model Maye Musk (yes, Elon's mum) has 35,000 Insta followers and puts the rise of older models squarely down to the internet. She has said: "Social media has given all women a voice and platform. Twitter, Facebook and Instagram have done wonders for me, and I love being able to share my experiences directly with those who are interested, and engage with them."

After all, it's pretty much in every business's interest to embrace age diversity in the media if they want to pocket the silver pound, so it stands to reason that more and more industries and brands will be chasing the over 55s online to plug their products. And nowadays, it's not just those with hundreds of thousands of followers - so-called micro-influencers with up to 100,000 followers but more than 3,000 are being sought out.

It is predicted that by 2018 there will be 20 million over-55s in the UK, making up one in three of the population. Over-50s already account for around 47% of all UK consumer-spending as they are getting healthier and wealthier.

Source: https://www.huffingtonpost.co.uk/jules-lund/rise-of-the-silver-instai_b_16390454.html

42% of Baby Boomers picking holiday destinations based on social media

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Four out of ten baby boomers admit that social media content posted about a holiday destination or accommodation influences their booking decision.

The use of social media during the holiday-researching process is now being extended to older generations, with 42% finding it hard to ignore the level of insight certain platforms, such as Instagram, can give to bookers. 

Despite being a generation that's been associated with playing catch-up when it comes to the use of social media platforms, 37% of those aged 55-64 said they use social media as a way of researching holiday destinations. If they find social media images that show a holiday destination or accommodation that isn't up to their standards, then this will put them off booking. 

Traditionally, travel review sites have always played a prominent role in the holiday-reviewing and researching process. When baby boomers were asked whether social media content could be trusted over a review site, over a third said they're now starting to use a mix of both when researching a holiday destination. 

The study by QHotels, managed by RBH of more than 2,000 UK adults found that while social media content does impact the booking process for baby boomers, 'Instagrammability' is not a factor, whereas millennials prioritise how 'Instagrammable' a destination looks before they book. 

When it comes to sharing holiday snaps, over half of Brits (55%) share them while they're still on their trip. For those that wait until they get home said the biggest reason (41%) for this was down to security and not wanting to advertise being away on holiday. Nearly half of baby boomers (48%) would be concerned about the safety of their home while on holiday, which is more than double the proportion of millennials.

John Stuart, Chief Operating Officer at RBH, commented: "We're not surprised to see that using social media to do some extra digging on a hotel or destination is on the rise. What is interesting is how much baby boomers are valuing this content when it comes to making a final decision, and for some, this could be a deal breaker.

"This research gives insight into the changing holiday booking habits of baby boomers, and how the whole researching process is evolving from using travel review sites or just going back to the same place as they always have done. They seemed to have acknowledged the value of using social media in the reviewing process, which has been a trend that has naturally been driven by younger generations. 

"Travel review sites have been a great addition to the travel sector, but social media platforms like Facebook and Instagram offer another layer of awareness into what a certain destination or accommodation is like. Hotels can no longer hide behind a professional photo lens as authentic, consumer-generated content is becoming more important for bookers looking to get a truer perspective on their potential holiday destination. And this is becoming apparent across all generations."