Of course, influencer marketing in itself is nothing new. When a celebrity endorses a cereal, for example, that is classic influencer marketing at work. But the new age of social media and its widespread use by millennials means this practice has also had to evolve. In this article, we will be looking at the impact of influencer marketing on boosting sales, the best ways of working with them and how Zilingo Studio can aid in achieving the best marketing strategy for your business.
To understand the impact that influencers have on sales, it’s paramount to take a look at how consumers today consume content. In the Asia-Pacific region, for example, the number of active social media users runs up to 4x more than in North America, with a special focus on Southeast Asia in particular. Thailand even has up to 95% of its merchants utilizing social commerce (commerce using social media), closely followed by the Philippines and Indonesia at 87% and 80% respectively. Thus, the return on investment on spending on social media influencers in some of these countries can reach up to $11.80 for every $1.30 spent --a sizable 807% increase. These figures clearly demonstrate the massive opportunity to be had just by making sure your business has a definite presence on social media.
Reaching The Millennial Market
Millennials live in a world that is more interconnected than ever. This is evidenced by the fact that there are now over 4.5 billion Internet users around the globe, with some of the most visited websites being social media platforms like Facebook. Pertaining to millennials, this means that marketers can reach more than 50% of all the world’s adults aged 18 to 34 just through Facebook. This is relevant in Southeast Asia in particular, where countries like the Philippines, Thailand, Indonesia and Vietnam are all in the top 10 countries with the greatest potential Facebook advertising reach.
Mobile penetration is a big factor for e-commerce as well. Indonesia, Thailand, the Philippines, Malaysia and Vietnam are all in the top 5 countries where those aged 16 to 64 say they’ve made a purchase via mobile devices in the past month. Thus, getting on social media is a must for marketing to millennials.
Finding The Right Influencers
As mentioned above, what sets influencers apart from traditional celebrities is the high rates of engagement they enjoy with their fans. The influencer is then present throughout the whole consumer process- -from first shaping the audience’s perceptions of a product/service up to their final purchasing decision. Thus, it’s important to work with an influencer that is highly relevant to your market or product.
There are a number of factors to help narrow your choices down. First, how relevant are they exactly to your target demographic? Though an influencer’s followers are often similar to them, it still pays to check out how close they are to your target demographic in terms of age, geographic location, values, etc.
Second, consider the channels that your potential collaborators are active on. Though many influencers have a presence on multiple social media platforms, there are many who have a special focus on one in particular- -hence the rise of ‘YouTube vloggers’ and ‘Instagram models’. Hone in on where your business wants to focus and decide from there.
Finally, be clear about your budget from the very start. Your budget can determine right away whether you want to work with a macro influencer (10,000 to 1 million followers) or a micro influencer (500 to 10,000 followers). It can also help you decide on how much exactly to offer for an influencer’s services. Of course, expensive influencers are costly for a reason: at one point, football player Cristiano Ronaldo’s social media channels were reportedly worth half a billion US dollars to Nike alone. One of the most successful posts was a Nike-sponsored post that Ronaldo posted after winning the Euro 2016 Final. This post was liked 1.7 million times with 12,750 comments, giving Nike an ROI of about $5.8 million (USD).
Working With New Age Influencers
Once your business has tracked down who to work with, it’s important to acknowledge the fact that influencers know their audience better than anyone else. It’s this connection that can enable brands to successfully work even with inexperienced candidates. Take glasses retailer Warby Parker, for example. In 2019, the brand chose to work with a crop of ‘non-traditional’ influencers (meaning they didn’t have a track record of collaboration with other brands) but already had at least one non-sponsored Instagram post wherein they wore Warby Parker glasses- -a testament to how natural the brand partnership is. During the duration of the campaign, the company reported receiving up to a 6% engagement rate per influencer and even directly attributed their $2 billion (USD) valuation to these collaborations. It should also be noted that there are a plethora of content formats these days to choose from, especially considering the rise of platforms like TikTok, a video-sharing social networking service where users create content typically not longer than 30 seconds. Athleisure brand Gymshark has used this platform to sponsor content from the Rybka twins, gymnasts who demonstrate the functionality of the brand’s clothing to their 6.1 million followers to date. With so many options, there are an endless number of creative ways your brand can get their message across.
During the course of your collaboration, clear and transparent measures of success are key. Though a concept like “influence” can be intangible, there are indicators you can take advantage of to make success more concrete. First, consider setting up custom landing pages, custom tracked links and even a tracked phone number when possible. A tracking component is crucial in deciding whether your business wants to continue a similar partnership in the future.
Having metrics is also crucial to determining whether your brand wants to pursue similar collaborations in the future. For instance, measuring the number of clicks that convert into sales is a great way to ensure your business is getting the most bang for your buck. Furthermore, metrics such as engagement rates, number of views and follower growth can help pinpoint specifically what works and what doesn’t in a campaign. We’ve now established just how crucial the new age influencers are when marketing to millennials and the best ways to go about it. How then does Zilingo Studio come into the picture?
Zilingo Studio can offer a team of over 50 videographers, designers, producers and social media strategists. This makes it possible to customize our client’s strategies to more effectively target their desired audience- -something especially relevant when working with the niches that so many influencers specialize in.
Zilingo’s services also cover content creation in the form of blog articles and videos. For videos in particular, this can also mean working with your chosen influencer to produce short-form videos tailor-made for platforms like Instagram. For writing, Zilingo’s services include writing for social media posts, write-ups, profiles and even specialized WhatsApp content.
The above solutions mean there are multiple ways to use Zilingo Studio so that it’s the best fit for your business. Follow the link below for a no-obligation discussion for how Zilingo can assist in your influencer marketing needs.