“Influencer marketing” taps consumer trust by linking a company to the power of expertise, fame or taste. Influencers work for a wide range of business models and strategies and, just like an advertising campaign, the sky’s the limit on how much you can spend.
The first name in influencer marketing is Kim Kardashian, who charges up to $750k to promote a consumer product in a single post. Since the products endorsed – from vitamins and skin care products to waist trainers – typically sell out immediately, brands see it as a guaranteed return on investment.
Industry-specific influencers can have just as much impact for businesses but also come with a hefty price tag. Lewis Hilsenteger of Unbox Therapy charges brands like Intel, Microsoft and Canon tens of thousands of dollars for a single post to his nearly 15 million YouTube subscribers. He “unwraps” the latest consumer and B2B tech products, reviewing their specs, durability and function.
Another way to tap into influencers is to have your public relations team reach out to key industry influencers just as you do to reporters and news outlets. Influencers need fresh content to stay relevant, so collaborating with them is a two-way street that drives traffic to both.
Since 90 percent of B2B purchases are influenced by word of mouth, here are four guerilla tactics to build a budget-friendly influencer campaign:
- Use products and demos to pay: Some influencers become a brand advocate when offered the first look at a new product or free demo of a service.
- Offer a commission: Influencer commissions can be negotiated on sales resulting from posts, generating a win-win since both parties have skin in the game.
- Throw a party: Convince a targeted influencer to venture out by hosting an event at a great venue, serving unique food and promising free product to take home.
- Or crash someone else’s: Research events or tradeshows where key influencers will be the guests of honor and push to have your product included in gifting lounges or gift bags.
These approaches work best with bloggers, authors, academics, passionate patient advocacy groups, non-profits and activists. Marketing must be flexible and strategic when it comes to creative direction to keep the influencer’s authenticity.
