by Holly Hamann, Co-Founder & CMO at TapInfluence

WHAT PRICE WOULD YOU PUT ON AN INFLUENCER? FEATURED ON

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oday, anyone can publish online and reach the entire world. Anyone can learn how to rebuild a car stereo, fix a leaky faucet, or bake a soufflé just by watching a YouTube video or reading a blog post. This unprecedented access to a global audience has greatly expanded what it means to be an influencer. People with expertise in just about any area have the power to grow a tribe of like-minded people who share a common interest. Influence is no longer determined by network ratings or a newspaper’s circulation, and influencers no longer need an audience of millions. Although influence is sometimes measured by unique visitors, blog comments, YouTube views, or Twitter followers, the numbers aren’t what matter most—what matters is the reaction a person’s content gets from his or her audience. Passion and engagement are at the heart of what makes a modern influencer, and these factors are also what make influencers so valuable to brands. What an Influencer Can Do for Your Brand Influencers have become brands’ secret weapon to stand out in an overcrowded marketplace. By establishing relationships with influencers and embedding their message in the content their audience is already consuming, brands become the channel instead of the noise. Influencers Help Brands: 1. Reach a Very Targeted Audience Marketing to a broad audience might raise awareness, but if people aren’t interested in what

“Passion and engagement are at the heart of what makes a modern influencer”

you’re trying to sell, much of your investment is wasted by not hitting the right audience. Targeting the right influencers means targeting the audience most likely to be interested in your brand. If you make running shoes, partnering with a marathon runner with a strong following gives you direct access to the people most likely to want your product. When Black Box Wines was looking to raise awareness of its brand and highlight the benefits of boxed wine, the company turned to social media influencers. Black Box Wine handpicked 50 entertainment, food and wine, and lifestyle bloggers to reach out to with a message about how Black Box Wine was the perfect choice for summer gatherings. The bloggers did the rest, creating interesting and valuable content related to Black Box Wines that was marketed specifically to those who would be most interested in what the company was selling. 2. Create Trust When people want information on a product, they look for like-minded individuals whose advice they trust. Influencers garner large, loyal followings because people know they will get real, honest

information from them. Building a relationship with these influencers means gaining the inherent trust of their audience. You won’t gain it on your own—75 percent of consumers don’t trust ads. And while 92 percent of consumers trust recommendations from those they know, 70 percent still value strangers’ opinions online.

“A brand should be looking to spend anywhere between 15 and 30 percent of its marketing budget on producing and distributing digital content.”

3. Generate Engagement Print and television tend to be inherently passive mediums. People see ads, but that doesn’t mean they’re engaged. An influencer, however, thrives on active engagement. A blogger’s content lives or dies by how much it’s shared, discussed, and replied to. People who follow an influencer on Facebook are much more likely to act on a post simply because of the medium. If a brand is looking to stand out in the online sphere and gain followers on its own social media accounts, this type of engagement is key. The results of Black Box Wine’s online campaign was 72,604 total blog views across all 50 blogs over a 60-day period, with a total readership of over 2 million people. But it wasn’t just about the number of people reading: 5,000 people were engaging in the discussion around Black Box Wine. The Price of Influence The value of influencers is clear, but what most brands want to know is, “How much is this going to cost us?” Generally, a brand should be looking to spend anywhere between 15 and 30 percent of its marketing budget on producing and distributing digital content. A portion of this budget should be allocated for researching and engaging quality influencers. Engaging doesn’t mean sending out a mass email to anyone who blogs to a brand’s audience. The brand must be willing to invest the time and money to engage with the right influencers and ensure both parties are on the same page about content creation and distribution. The exact dollar amount a company should spend really depends on what the brand is looking to get. Total reach, the type of content, and the desired

call-to-action all play a part in the price of influencer marketing, and a company should first know what it’s looking to get out of online influencers before finalizing a budget. Whatever the price, brands must come to terms with the fact that relationships with online influencers are critical for reaching and engaging their target audience online. If your brand isn’t embedded in the blogosphere, you can bet your competition is. With a strong strategy and dedication to engaging the right people, influencer marketing is a powerful tool to break through the clutter and reach your ideal customers.

Want to learn more about how leading brands are influencing their audiences? A TapInfluence brand strategist can help you determine if influencers are a good fit for your content strategy. For more information on finding and utilizing sources for influencer marketing, connect with us online at: www.tapInfluence.com/contact or contact us directly at: [email protected] (720) 726-4074