PewDiePie has over 100m followers and earns over $15 million per year– that’s more than the average salary of starting NBA players.
Why and how are “influencers” able to make such substantial income doing something that seems so simple as just posting about brands?
It works. On the other side of the exchange, brands are spending hundreds of millions of dollars a year on influencer marketing, For every $1 spent on influencer marketing, businesses make back $5.20.
Influencer marketing capitalizes on the authentic voices of influencers and content creators that have carefully built relationships with their followers. An influencer marketing agency makes use of its existing and new relationships with influencers and helps ensure that every influencer marketing dollar spent goes towards the customer’s key objectives.
Often, the magic sauce that brands crave isn’t access to their target audience, but the ability to capture their attention the same way influencers can.
We see influencer marketing becoming even more formalized in the near future.
With so much money pouring into the influencer marketing industry, it’s no surprise that influencers are banding together to ensure the best possible rates in a highly competitive marketplace.
Influencers who work together start looking more like full-blown media companies consisting of several decentralized but wildly popular and successful accounts. This can be anything from collaboration houses where multiple influencers join together to make cameos and package influencer deals, to talent incubators where creators nurture up-and-coming influencers, to full content studios that work with big brands such as Chipotle, Disney, and Coca-Cola.
Additionally, many tools and third-party platforms are coming out to analyze performance and qualify audiences before massive marketing budgets get set on fire. For example, Dovetale is a platform to manage relationships with influencers and judge campaign success. Other tools help validate influencer followings and engagement, revealing whether an influencer’s following is real and not bots.
Each influencer has a unique following that responds to particular messages. A social media influencer agency aims to make the best use of influencers and available tools to get the most relevant and best-performing content in front of the right people, ultimately leading to more sales for their clients.
We see a world where working with influencers is within reach for every business. However, you can’t simply just contract a handful of influencers and expect magical results. The reality is that many influencer followings can be fake, and sometimes the content created either doesn’t match your or your influencer’s brand, leading to wasted ad spend.
That’s why it’s important to work with an influencer marketing agency that already has vetted relationships established with influencers so that every dollar goes towards making sales rather than waste.
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