When most of us think of “influencer marketing” we visualize the Kardashians or Kid Rock or any one of a number of celebrities or sports icons. That is an accurate assumption since we see these people on television and in magazine ads for national brands.
What does that have to do with marketing my local business?
Actually, quite a lot! While we may not be able to afford a Hollywood personality to endorse our product or service, marketing with local influencers is one of the hottest marketing trends in this ‘post-pandemic’ marketplace.
What Is Marketing with Influencers?
Influencer marketing leverages individuals with considerable influence over potential customers in their local market to increase brand awareness and conversions. Many believe that influencer marketing attracts higher-quality customers or people more likely to purchase products or services. Google has studied this trend and found that influencer marketing was considered effective by 92% of people.
Influencer marketing is used both on and offline. Just a few years ago radio, television, and print were the primary media where we saw influencers being used. Today a social media influencer can share content with their followers about a certain brand—product or service or campaign; and direct a great deal of traffic to the company. YouTube is now one of the premier sites where we see influencers creating video endorsements.
Who Are Local Influencers?
When trying to identify a potential influencer for your company it is important to consider more than just how many people might know them or know their name. Far better to find a person who shares your company values and can embody your brand, even though they may reach a smaller audience.
Making an impression on those who really fit your ideal customer profile and engaging with them is going to offer a higher return on investment than reaching thousands of people who don’t match your target audience.
One of the most effective local influencer groups are radio personalities. Several studies indicate that more than 80% of people surveyed trust the opinion of their favorite radio celebrity, and over 70% would try a product recommended by them. This makes radio a powerful way to expand your local customer base.
Of course you want to choose an influencer that is followed by your target audience. As an example, if you want to attract adults in the 30 to 55 age range, an adult contemporary station might offer the best connection with this group.
Local Influencer Marketing Works
Influencer marketing can raise your brand awareness, drive sales, attract new customers, and build your brand image in your local market. Radio influencers connect with their listeners in a very personal way, inspiring trust and authentically endorsing your brand. A bonus is that you not only reach their listeners but their entire social media following, as well.
Bloggers and video bloggers have the same level of influence on their followers. Their endorsement can generate a lot of sales, but frequently their websites have a high domain authority and can provide a valuable backlink to your site.
Another benefit is that influencer partnerships help improve your credibility and trust.
How Much Does Influencer Marketing Cost?
To engage a local personality typically requires two expenditures. Take a radio celebrity for example. You will have a contract with the radio station for a certain number of spots, and then a separate agreement with the celebrity for their fee per commercial they record.
A similar structure will exist if you have a local influencer shoot a television commercial for your company. You would pay them for their work, and then the station or cable network for the number of commercial spots you want.
Digital influencers are a little bit different. You would negotiate a fee for their written or video endorsement, a separate fee for a backlink or guest post. The frequency with which they mention your company is also negotiated. If your business is engaged in e-commerce we have seen an influencer ask for a fee per product sold, like a commission, in addition to their initial fee.
Marketing With Influencers Is A Growing Trend
While influencer marketing is not yet a primary marketing channel for most companies, those that have engaged describe excellent results. Seventeen percent of companies working with influencers report that more than half of their marketing budget is allocated to this channel! Just under 90% of these companies say that the ROI from influencer marketing is as good as or better than the other types of customer acquisition they are using.
What about your business? Ready to consider influencer marketing? Or have questions about how it can be added to your marketing mix? Contact the Alchemy team at 877-978-2110 to schedule a conversation to see if influencer marketing is right for your company at this time.