Massive Success with Influencer Marketing
If you are like most people, the last time you tried a new restaurant or went to a movie you hadn’t previously heard about, it was because someone recommended it. When it’s time to stay in a hotel, go to a new dentist, or even buy something online, you probably read several reviews before making a purchase decision, even though you do not know the people who wrote those reviews.
This is the result of influencer marketing. Influencer marketing has been around long before celebrities got paid enormous sums of money for tweeting about products they may not even use.
There are typically three kinds of influencers: celebrities, experts, and family/friends.
The influencers with the highest degree of getting people to take action are family and friends. Think about it – if someone you know recommends a product or service you are more likely to make a purchasing decision based on their recommendation than you are from some celebrity endorsement.
Celebrities reach a large number of people, but only a few take action because of that celebrity. That means that several micro-influencers can actually have a bigger impact on your business than a celebrity can (and you don’t have to pay them as much).
That’s where experts as influencers come in. Experts make the best influencers, especially if they have established a know-like-trust relationship with their followers.
Imagine if you created a food product like a nutrition shake. There are tons of nutrition shakes on the market, so how do you get heard? You can certainly go post on social media, but only a few of your friends are likely to see your post. You can advertise the product, which can of course get very expensive and is actually not very likely to get that many sales. You could try getting a large retail chain to sell your product for you, but they probably won’t pick up your product until you have some proven sales records. The best way is word-of-mouth marketing. Specifically, word-of-mouth marketing that you can generate yourself by using an expert influencer.
Let’s say you go to an event and meet a power-blogger in the nutrition industry, like Beyond Diet. You give them some of your product, and they really like it. As a result, they agree to write a blog about your nutrition shake, but only if you agree to pay them a percentage of the sales that they generate as a result of promoting your product. Do it!
Create an affiliate or joint venture program, where you pay the power-blogger for every person they send to you. Do not underestimate what they are bringing to the table. Most likely, they have spent years building a reputation, and you are tapping into that reputation. A single endorsement by an expert that has a loyal following can create a best-seller overnight. If you were to hire a salesperson for your company, it would cost you much more than this type of endorsement can provide, so set up your agreement where your expert influencer has a big incentive to make you successful.
As a professional speaker, Greg is a Distinguished Toastmaster. He has spoken in 21 countries on 4 continents. He is an Inc. 500 award-winning entrepreneuer and the author of multiple #1 best-selling books. www.GregJameson.com