Influencer marketing will be a 24-billion-dollar industry by the end of 2024, with 85% of people believing it to be an effective form of marketing, according to the State of Influencer Marketing 2024.
But the real story is in how marketing teams prioritize influencer programs. The same benchmark report found that 60% of those who budget for influencer marketing intend to increase the budget over 2024 and nearly 25% of respondents intend to spend more than 40% of their entire marketing budget on influencer campaigns.
Suffice it to say that influencer marketing is here to stay.
But with an overload of information — from success stories to cautionary tales — it can be easy to overlook the most basic and critical element: Influencer marketing is about relationships.
What Exactly Is An Influencer?
Influencers are the people all around us. While the term might imply celebrities or those with enormous networks, in reality, an influencer is anyone who is authentic in their engagements and recommendations, provides a valued opinion, and builds a reputation for their expertise. The woman at work with an impeccable sense of style is an influencer, as is the friend who has eaten at every new restaurant in town. We trust them, and we turn to them to help us find whatever it is we’re seeking. The more we have in common with them, the more likely we are to follow their advice.
But with influencer marketing, we’re talking about those same influential people, but the trust is built over time, typically through social media.
Influencer marketing professionals generally use the term “influencer” to refer to someone who partners with a brand to promote their products or services, though not all influencers are paid professionals. In fact, those who try to build followings with the sole intent of getting paid to represent brands are not really influencers at all.
True influencers have a loyal audience that has grown organically over time as people continue to discover and connect with their content. They have the ability to provide impact. It’s important to remember that a large following does not necessarily translate into significant influence. Influence is built through trust and authentic engagement, not merely likes and follows.
This is exactly why influencer marketing has proven to be more than just a simple transactional activity. Influencing is about authenticity and trust, first and foremost.
Influencers Are Multi-dimensional
Though an influencer may be known for a particular niche – like travel, fashion, or cuisine – they, like the rest of us, have dozens of other interests and passions. And their followers may love them for something other than their core niche. By tapping into these quirks, you’ll seize a unique opportunity to successfully market your brand.
A whiskey aficionado, for example, will provide an entirely different perspective on your destination than an outdoor adventure seeker, though both may be travel influencers. Drilling down the passions of individual influencers beyond what they are posting on their social channels opens up countless opportunities, as well as an extended audience.
At the core, you are dealing with multi-dimensional human beings whose lives extend far beyond their Instagram accounts and YouTube channels. And this is, in fact, their greatest asset.
Similarly, there are several different levels of influencers you can partner with for your campaigns. These levels are based on follower count:
- Nano-influencers: 1K to 10K followers
- Micro-influencers: 10K to 100K followers
- Mid-tier influencers: 100K to 500K followers
- Macro-influencers: 500K to 1M followers
- Mega-influencers (including celebrities): More than 1M followers
Each level offers unique benefits in terms of reach, engagement, and cost-effectiveness. Nano-influencers may have a more authentic voice, while macro-influencers have a broader appeal. Mid-tier influencers strike a balance between reach and engagement, making them a popular choice for many brands.
But within each of these levels, you’ll find many influencers who could work for your campaigns. What matters is how their niche, personality, and special sauce fit with your brand, your objectives, and the audience you’re trying to reach.
Influencer Relationships Must Be Cultivated
Everything about influencing is built on a foundation of trust; the relationship between influencers and brands, and influencers and their communities. And these relationships must be cultivated.
The easiest and most authentic way for influencers to build trust with their network is by consistently providing value. This means sharing content that is appropriate based on topic, values, and style. An influencer suddenly promoting something unrelated to their niche, or outside of their typical focus areas, could cause followers to question or lose faith in their promotions. For example, if a travel influencer who typically shares affordable yet chic brands and experiences suddenly starts promoting luxury experiences outside the budget of their followers. It isn’t aligned, and that can quickly impact an influencer’s trustworthiness in their followers’ eyes.
On the other hand, the relationship between a brand and the influencer also needs to be carefully developed. Influencer marketing professionals want to create long-term contracts with influencers; it’s not typically one-and-done, or purely transactional. But cultivating this relationship doesn’t happen overnight. Most influencers are working with several brands, and have limited time to connect with you, your team, and your brand. You’ll need to be intentional about finding great influencers and taking the time to ensure a strong partnership at all stages of the relationship.
Another factor is that influencers who promote the same brand over time cultivate even more trust between that brand and their followers. The consistency of messaging — and the overt or implied message that that influencer still loves that brand — means more to consumers than seeing that promotion just a few times.
To cultivate deep relationships with influencers, focus on open communication, fair commission structures, transparency, and feedback. Trust them to represent your brand with care, and reward them for their hard work.
Influencers Aren’t Static
Unlike an ad that runs for a set time period, influencers invite their audience to follow along on the journey of their lives. This opens up the door for followers to tag along as they inevitably change and grow. Brands have an opportunity to move with them, capitalizing on an ongoing relationship.
But this also means that an influencer who was great for your brand three years ago may no longer serve your target market today. Staying in tune with influencers — their current passions, personal brand, and audience — requires a very hands-on approach. By remembering that influencers are multi-dimensional human beings and taking the time to cultivate strong relationships, you can honor your partnerships as they evolve and know when it’s time to go your separate ways.
Steller Can Help
Fortunately, there is a solution to cultivating amazing influencer relationships. Partnering with an influencer marketing agency that prioritizes building authentic relationships with each and every influencer they work with allows brands to build connections that are ongoing and on-brand — providing excellent ROI without exhausting copious amounts of time or energy.
At Steller, we pride ourselves on our hands-on approach. We engage in real-life conversations and face-to-face interactions that allow us to understand each of our influencers, outside of social media.
Our influencers are carefully considered and understood on a human level so their synergy with your brand extends far beyond the screen. It’s from these valued relationships that you learn how to improve the integrity, transparency, and impact of your influencer marketing campaigns.
