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Influencer Marketing – What Is It, and Why It’s Surprisingly Effective

TABLE​ ​OF​ ​CONTENTS

An​ ​Introduction​ ​​ ​|​ ​​ ​Strategy​ ​​ ​|​ ​​​Outreach​ ​Process ​​ ​
​Tips,​ ​Tricks,​ ​and​ ​Tactics​ ​|​​ FAQs

ABOUT​ ​JASON​ ​QUEY 

Best looking marketing guy in Spokane
Voted #1 best looking marketer in Spokane by my mom.

Jason Quey is the owner and founder of Growth Ramp. Growth Ramp helps early-stage startups establish their growth strategy.

The Storyteller Marketer is his previous marketing blog. Here you will find information about influencer marketing, SEO, and content strategy.

For more information on how to establish your growth strategy, check out the latest Growth Ramp articles.

He has helped his clients:

  • Generate an 88% lift in monthly traffic in three months, which led to 20% more inbound clients, with LTVs of $25,000+.
  • Use influencer outreach to drive over 22,000 unique visitors to a single article. This led to backlinks from Microsoft, the University of Geneva, and other respected big data sites.
  • Increase blog traffic, such as +71% in three months, +88% in three months, +127% in two months, and +313% in eight months.

You may have seen his name on Forbes, Entrepreneur, Inc, SalesForce, Copyblogger, and Sumo.


AN​ ​INTRODUCTION

What​ ​Is​ ​Influencer​ ​Marketing?

“You​ ​keep​ ​using​ ​that​ ​word,​ ​I​ ​do​ ​not​ ​think​ ​it​ ​means​ ​what​ ​you​ ​think​ ​it​ ​means.”​
– ​Inigo Montoya,​ ​Princess​ ​Bride.

Inigo​ ​Montoya​ ​was​ ​right.​ ​Influencer​ ​marketing​ ​is​ ​one​ ​of​ ​the​ ​most​ ​used​ ​and abused​ ​words​ ​out​ ​there. So what is influencer marketing?

Influencer​ ​marketing​ ​is​ ​a​ ​form​ ​of​ ​marketing​ ​where​ ​you​ ​identify​ ​key people ​who​ ​have​ ​influence​ ​over​ ​your​ ​potential​ ​buyers.

These​ ​influencers​ ​are​ ​incredible​ ​people​ ​who​’ve​ built ​​a​ ​community ​based​ ​on​ ​connection​ ​and​ ​trust.​

So​ ​when​ ​she​ ​advocates your​ ​product​ ​to​ ​her​ ​audience,​ ​sales​ ​start​ ​flowing​ ​in,​ ​fast.

Why​ ​Does​ ​Influencer​ ​Marketing​ ​Work?

People​ ​have​ ​a​ ​low​ ​trust​ ​in​ ​ads.​ ​In​ ​fact,​ ​almost​ ​70​ ​million​ ​people​ ​in​ ​the​ ​USA use​ ​ad​ ​block​ ​software​. ​Instead, people ​have​ ​turned to the​ ​opinions​ ​of​ ​influencers​ ​over​ ​impersonal​ ​ads.

So​ ​why​ ​does​ ​influencer​ ​marketing​ ​work​ ​better ​than​ ​other​ ​forms of​ ​non-ad​ ​marketing?

In​ ​a​ ​word,​ ​targeting. Are​ ​you​ ​familiar​ ​with​ ​the​ ​​80/20​ ​principle​? Roughly​ ​80%​ ​of​ ​your​ ​results​ ​will​ ​come​ ​from​ ​20%​ ​of​ ​causes. In​ ​theory,​ ​20%​ ​of​ ​people​ ​create​ ​80%​ ​of​ ​the​ ​content online.​ ​Of​ ​the ​20%​ ​of​ ​content creators,​ ​only​ ​4%​ ​(or​ ​20%​ ​of​ ​20%) are​ ​creating​ ​the​ ​most​ ​effective​ ​content.

By targeting the ​4%​ of people (that is, the ​influencers​), you can reach the rest of your target audience at a fraction of the cost.

The ROI​ ​and​ ​Benefits​ ​to​ ​Your​ ​Brand

But is​ ​influencer​ ​marketing​ ​worth​ ​all​ ​the​ ​hype?

I’ll let the numbers do the talking.

  • On​ ​average,​ ​for​ ​every​ ​$1​ ​invested​ ​in​ ​influencer​ ​marketing,​ ​businesses receive​ ​$6.50​ ​in​ ​return. ​(source)
  • 70%​ ​of​ ​businesses​ ​earn​ ​$2+​ ​for​ ​every​ ​$1​ ​invested. The​ ​top​ ​13%​ ​earn​ ​$20​ ​or​ ​more. (source)
  • Twitter​ ​reported​ ​a​ ​5.2x​ ​increase​ ​in​ ​purchase​ ​intent​ ​when​ ​people​ ​were exposed​ ​to​ ​content​ ​from​ ​a​ ​company​ ​and​ ​an​ ​influencer. (source)
  • And​ ​49%​ ​of Twitter​ ​users​ ​say​ ​they​ ​rely​ ​on​ ​recommendations​ ​from​ ​Twitter​ ​influencers when​ ​making​ ​a​ ​buying​ ​decision. (source)

Inconceivable!


STRATEGY

Influencer​ ​Marketing​ ​Strategy

Influencer marketing is all the rage.

So how do you build an effective influencer marketing strategy, even if you don’t have a six-figure budget?

Here’s how to create an effective influencer marketing strategy, even if you don’t have a six-figure budget.

How​ ​to​ ​Identify​ Key ​Influencers

72% of influencers share posts about their sponsors outside of a contract. And 88% of influencers tell their friends about brands that sponsor them. That means you can see growth outside of your paid campaigns.

How do you find influencers worth connecting with your brand? Here’s how​ ​to​ find powerful ​influencers to win your audience.

The​ ​5​ ​Types​ ​of​ ​Influencers

If​ ​you​ ​treat​ ​influencers​ the​ ​same,​ ​you​ ​will​ ​get​ ​mediocre​ ​results.​

​Why? Because​ ​not​ ​every​ ​influencer​ ​values​ ​the​ ​same​ ​thing.

Here’s the ​five​ ​types​ ​of​ ​influencers,​ and ​how​ ​to​ ​connect​ ​with each​ ​of​ ​them.


OUTREACH​ ​PROCESS

Outreach​ ​Strategy

Some think connecting with influencers takes a special secret sauce. Like any type of marketing, it’s more about learning an effective process that scales.

Here’s a simple influencer outreach plan every serious marketer needs to know.


TIPS,​ ​TRICKS,​ ​AND​ ​TACTICS

A Beginner’s Guide to Influencer Marketing

Do you ever find that your niche is so crowded, it’s difficult getting the attention your website deserves?

One of the most effective ways I’ve found getting a foot-hold in this busy world is by connecting with those that have captivated my audience.

Here’s A Smart Guide to Getting “Influencer” Attention Online, Even if You Are A “Nobody”.

10 Lessons Learned, From 1,000 Influencers

I’ve had the privilege of connecting with over 1,000 influencers.

If I were to boil everything down to 10 concise lessons I’ve learned, these are the 10 lessons I’d share.

Here’s The Art Of The Penguin – 10 Lessons From 1,000 Influencers.

Advanced Guide to Influencer Marketing

There are a lot of articles about how to do influencer marketing. A blogger gets their first couple wins, and then immediately write about it as if they’re an expert.

Here’s my exact “how-tos” explained to build a massive network with influencer marketing.


FAQs

1. How​ ​likely​ ​can​ ​I​ ​expect​ ​a​ ​return​ ​from​ ​influencer​ ​marketing?

70% of businesses earn $2+ for every $1 invested. The top 13% earn $20 or more. (source)

2. How​ ​do​ ​I​ ​measure​ ​the​ ​ROI​ ​of​ ​influencer​ ​marketing?

If possible, use tracking codes and coupons.You can use Google’s URL Builder or tools like Bitly or Goo.gl for tracking clicks. Coupon codes can help track direct sales that a tracking code might miss.

3. Why​ ​should​ ​I​ ​use​ ​influencer​ ​marketing​ ​over​ ​other​ ​forms​ ​of marketing?

There are pros and cons to all types of marketing. Here are five benefits to using influencer marketing:

  1. Influencers have built trust with your target audience.
  2. Influencer marketing can be paid or free.
  3. Influencer marketing can be used to increase ROI of other marketing channels.
  4. Unlike paid ads, with influencer marketing, you can see growth after a campaign finishes.
  5. According to Nielsen, 66% of consumers say they trust opinions posted online. Compare that to search engine ads (47%), social media ads (46%), and banner ads (42%). As you can see, buyers trust influencers more than impersonal ads. (source)

4. How​ ​does​ ​influencer​ ​marketing​ ​relate​ ​to​ ​content​ ​marketing?

93% of marketers say they do content marketing. (source) As more brands create content, it becomes more challenging to stand out from the noise. Influencer marketing is one way to stand out. Influencer marketing can be used to promote content, improve SEO, and create valuable partnerships.

5. What​ ​are​ ​the​ ​most​ ​effective​ ​social​ ​channels​ ​for​ ​influencer​ ​marketing?

It depends. When determining which social channels to use, ask these four questions:

  1. What social media channels do your customers use?
  2. What social channels do your influencers use?
  3. What social media channels are you familiar with?
  4. Do you need to focus more on immediate growth or long-term growth?

This diagram will give you an idea which channel to focus on:
Social Media Influencer Marketing ROI

This is a rule-of-thumb. Your strategy and influencers you work with will change how fast and sustainable your growth will be.

Here are four social media channels I recommend:

B2B: Facebook, LinkedIn, Twitter, YouTube

B2C: Facebook, Pinterest, Instagram, YouTube

6. What​ ​are​ ​some​ ​‘red​ ​flags’​ ​when​ ​looking​ ​for​ ​influencers?

Here are three questions you should ask:

  1. Do they have fake followers? If they have a low number of likes, shares, comments, or views, they may have bought fake followers.
  2. Check who is engaging with their posts. Are the same accounts engaging with their posts? They may be using bots to fake their popularity.
  3. How often do they post relevant content? People have a wide variety of interests. But it’s impossible to be influential in a wide variety of topics.

7. Do​ ​you​ ​have​ ​to​ ​pay​ ​influencers​ ​for​ ​a​ ​campaign​ ​to​ ​work?

No. But you​ ​should ​know​ ​what​ ​value you​ ​are​ ​giving​ ​influencer​s ​for their work. In some cases, paying an influencer is offensive. In other cases, not paying is inappropriate.

8. Are​ ​there​ ​other​ ​forms​ ​of​ ​compensation​ ​we​ ​can​ ​use?

Yes. As an example, you can offer free products, a lifetime membership, or event tickets.If you give an influencer money, save her time, increase her fame, or improve her life in some way, you are providing value to her.

9. How​ ​much​ ​should​ ​influencers​ ​get​ ​paid?

It depends on the platform they use, their audience size, audience engagement, and their commitment.My recommendation is to not focus on what you pay, but on your ROI.

10. What’s​ ​the​ ​best​ ​way​ ​to​ ​build​ ​a​ ​relationship​ ​with​ ​an​ ​influencer?

Start by sending an email. After you have worked with the influencer, find new opportunities to continue connecting with them.Think of this more like making a new friend, rather than sleazy “networking.”

11. What​ ​if​ ​my​ ​company​ ​is​ ​not​ ​active​ ​on​ ​social​ ​media?​ ​Will​ ​influencer marketing​ ​work​ ​for​ ​us?

Yes. There are benefits of having active social accounts.But with most influencer campaigns, the influencers drive traffic to your website, not your social accounts.

12. How​ ​many​ ​influencers​ ​should​ ​I​ ​target?

It depends on your goals. You only need one influencer to start getting results.But it’s unlikely one influencer will create a significant impact. By working with a few influencers, you will get a better idea about the nuances of your industry.I recommend reaching out to 25 influencers. You should get a few influencers on board and see growth outside of the first 25 influencers’ reach.

13. How​ ​often​ ​should​ ​I​ ​expect​ ​an​ ​influencer​ ​to​ ​post​ ​on​ ​social​ ​media?

It depends on your contract. It is best to find what the influencer is comfortable with. Each influencer knows what works best for their audience.

14. What​ ​restrictions​ ​do​ ​influencers​ ​have​ ​when​ ​promoting​ ​a​ ​product?

In certain countries, including the US and Canada, any endorsement or product promotion must be mentioned that it is a paid message.Bloggers often use a page that mentions possible partnerships. Social media influencers can use tags like #ad and #sponsored. They can also tag a brand or mention the partnership in some other way.

15. Can​ ​I​ ​tell​ ​the​ ​influencer​ ​what​ ​to​ ​say?

You can. But I strongly discourage you from doing so. A pre-scripted message can come across as fake or rigid, resulting in fewer sales.My recommendation is to give the influencer a template.This allows the influencer to know what to share, but allows her to craft the message in a way that fits her voice.

16. How​ ​do​ ​I​ ​work​ ​with​ ​influencers​ ​if​ ​they​ ​make​ ​a​ ​mistake?

If you talk to the influencer about the issue, they are often happy to fix the mistake. Most influencers know their reputation is a large part of their business.

17. What​ ​should​ ​I​ ​do​ ​if​ ​the​ ​influencer​ ​does​ ​not​ ​fulfill​ ​their​ ​end​ ​of​ ​the deal?

Be careful about jumping to conclusions. It’s best to give someone the benefit-of-the-doubt.Make sure that expectations were clear up front. It is also not unheard of to create a contract. This can save you from a lot of time and hassle if they are unwilling to change.