Across many social media platforms, you have likely bumped into some #sponcon or #ad content from influencers of all sizes and categories. Influencer marketing is a booming industry, showing no signs of slowing down. In fact, there are now subcategories of influencers (i.e., content creators) and each individual can fulfill a different marketing objective.
According to recent reports, the influencer market grew from $1.7 billion in 2016 to $9.7 billion in 2020. In 2021, it soared to $13.8 billion, indicating steady growth. This year, the market is projected to expand to $16.4 billion. With that staggering growth, 60% of marketers shared that influencer-generated content performs better and drives more engagement compared to branded posts. Similarly, Influencers have been proven to change perception and sway purchase decisions among consumers with 61% of consumers trusting influencer recommendations, and 87% of consumers taking a specific action after seeing posts with product information on the platform — like following a brand, visiting its retail store, or making a purchase.
As an agency, we have numerous campaigns of all shapes and sizes across many platforms — from sourcing, to contracting and negotiating, to tracking performance. Curious how we do it? Keep reading! 😉
How It Works
Our first step on the influencer journey is to help clients determine what their goals are for a given campaign:
- Why are we running this campaign and what is the expected outcome?
- Are we trying to achieve brand awareness?
- New product launch?
- Do you need additional content that you cannot capture yourself but want to invest in an audience?
- A specific seasonal campaign?
If none of these questions apply, you may simply be seeking “reputation building” or most literally, doing it for the ‘gram. And any of these are good reasons to consider running a campaign! The answer to this question will dictate the types of influencers Likeable will shortlist.
Next up, budget! We recommend clients come to us with a budget in mind so we can craft a best-in-class campaign strategy around an expected spend. However, we are always able to help clients build their budgets based on their wants and needs. Different influencer sizes come with different price tags — but individual deliverables also drive up costs. Things like paid rights, whitelisting rights, exclusivity, video deliverables, multiple posts across more than one platform, etc., all incur an upcharge from the influencer.
Shortlisting and Reporting
Here is where the fun begins — which types of influencers should we consider working with? We’re SO glad you asked! Influencers come in all sizes, from content creators and nano influencers to big-ticket celebrities. The groups listed below apply to most campaigns, though each one can be broken down further:
- Micro-Influencers
Micro-influencers have between 10,000 and 50,000 followers on social media. They are known for a particular area of interest and have very high rates of engagement from their audiences. Engagement gets better the fewer followers a person has, so micro-influencers are ideal for commerce-based initiatives where we’d want the audience to be highly engaged.
- Macro-Influencers
Macro-influencers have between 100,000 and 1 million followers. Macro-influencers are best for increasing reach and awareness. They are able to reach large numbers of people at the same time using just a single post. Macro-influencers reach 22 times more people when compared to micro-influencers, which makes them ideal for awareness campaigns.
- Mega-Influencers
Mega-influencers are those with over 1 million followers. Many mega-influencers are celebrities who have gained their fame offline — actors, athletes, musicians, and even reality television stars. Their services will be costly, up to $1 million per post, and they are usually picky about who they choose to partner with. With such high followings, they tend to have low engagement rates, but they bring huge reach to the table.
Once we determine what size influencer makes sense for our campaign, we use an influencer tool to help search for individuals that meet our criteria. We are able to add many detailed search parameters such as age, city, language, interests, topics the influencer is interested in, LDA compliance (hello, wine and spirits brands!), expected engagement rate, and much much more. Speaking of engagement rate, we always work with influencers that have an ER above 2% (industry standard says 1-3% is considered “good”).
Once we select about triple the number of influencers we plan on working with, we move forward into outreach, contracting, and negotiation. Once contracts are countersigned, the content creation fun begins!
At the close of every campaign, Likeable prepares a wrap report that’s complete with the ER of the campaign, impressions, individual content performance, recommendations for future campaigns, and all data/metrics directly from the influencer’s insights.
Brand Examples
Gerolsteiner
This past summer, Gerolsteiner, a sparkling water brand, challenged its audience to include hydration into their everyday lives. Working with names like @maryralph and @wellthybelly, we partnered with five influencers to create a Reels-based campaign for optimal algorithmic performance. Overall, the campaign brought in a 25% engagement rate and almost 100k impressions.
Roscato
Roscato, a fun, sweet, and slightly sparkling wine brand, chose to run a giveaway with its influencers. Prizes included a coveted mini fridge, popcorn, and drinking games for your ultimate night in. The giveaway was cross-posted on the brand’s Instagram page to amplify entries.
Giant Food
Simply titled “Celebrate in the Sun,” Giant Food asked influencers across Instagram and TikTok to share some of their favorite summertime recipes in a fun and engaging way. @eatthecapital shared his favorite Korean BBQ summer recipes on Instagram, while foodie friends @dmvbite planned a summer picnic with charcuterie boards on TikTok.
So, are you interested in running a campaign with us? Likeable can help customize a campaign that’s right for your brand and your goals. Just reach out.
