Companies like H&M, Target, and Versace have all announced plans to devote real marketing dollars into courting online stars to help push their products.
One of the hottest terms of 2018. The social media influencer(s) is certainly much talked-about, and some would say, the desired moniker du jour. My age-based skepticism aside, it seems brands of all sizes and stripes have begun to invest sizable portions of their marketing budgets into this form of marketing.
According to a recent study comprised of marketers from a variety of industries, 94% said influencer marketing was an effective campaign strategy. That's great news for marketers -- right?
The topic tends to bring up more questions than it answers, at least among folks who are not in the know. So I will attempt to address the most common questions associated with the topic of Social media influencers.
What is the definition of a social media influencer?
The term "Social Media Influencer" refers to an individual who has a relatively large and engaged online following, and has the power to influence the buying habits of their followers due to his/her authority, knowledge, position or relationship with his/her audience.
How do I become a social media influencer?
I am sure, by now, its pretty clear that there are no set rules when it comes to anything having to do with Social Media or the Internet for that matter. However, to become a "Social Media Influencer", the first step has to be the "Influencer" part. So You want to build a large, engaged audience in a niche you are familiar with. It helps to build your audiences across multiple platforms. More detailed steps here
How many Instagram followers do you need to make money?
Although, there are not set fees, or charge per follower(s), and each social media platform offers a unique revenue-sharing model. Brands will typically pay anywhere from $5 to $10 / thousand followers. Some companies will offer $1 per follower, while others will just offer free stuff. Instagram offers influencers the highest level of flexibility and payouts compared to the other platforms.
How is influencer engagement rate calculated?
The generally accepted formula for calculating an influencer's engagement rate is as follows: likes + comments + retweets etc. (On all posts and updates) / total number of followers / the number of posts. There are various tools to help you calculate your engagement rate as well as to help determine if you have a large enough following to become an influencer.