The Power of Influencer Marketing

  By: CMC Research Chair Nancy Tellet

With the prominence of social media in this day in age, it’s easy to keep up with celebrities in real time. In addition to following celebrities and brands on social media, people are also following their favorite influencers. Whether you’re interested in fashion, makeup, fitness, or gaming, there is a community of influencers out there that may interest you. Influencers often post about their favorite products, trends and brands that they can’t live without. The influencer market is booming, so what does that mean for brands?

According to the Culture Marketing Council: The Voice of Hispanic Marketing (CMC)’s 2018 Digital Lives study, 59 percent of Non-Hispanic Whites (NHW), 53 percent of Non-Hispanic African-Americans (NHAA) and 64 percent of Hispanics ages 18-49 said they see influencers as “trusted sources” and consider buying the brand or service they’re promoting, while 51 percent of NHWs and NHAAs and 69 percent of Hispanics ages 13-17 said the same.

How can brands hop on the influencer train?

First off, one benefit of influencer marketing is the affordability. According to Michael Heller, CEO of digital marketing firm Talent Resources, celeb Kim Kardashian can earn up to $500,000 for one Instagram post. Yes, you read that right. Brands are shelling out half a million dollars for the star to post one Instagram.

For brands with tighter budgets, influencer marketing is a more affordable option. And, some influencers will even post for free, if they’re sent free products that they love. This could land your brand in a gift guide blog post, or an Instagram story, increasing your brand presence without any cost. In addition, influencers consist of more “everyday” people, with more realistic lifestyles, making it easier for followers to relate to them. According to data from MuseFind, 92 percent of consumers trust an influencer more than an advertisement or traditional celebrity endorsement.

Align with an Influencer You Trust

When it comes to partnering with influencers, it’s important to choose an endorser you trust. Much like the infamous Logan Paul who damaged his YouTube stardom through a controversial video, there are countless examples of celebrities and influencers who make a mistake that costs them their career. It’s important that brands align themselves with influencers who not only relate to their consumers but are trustworthy and uphold a positive reputation.

The Importance of Multicultural Influencers

We know social media stars are all the rage with millennials and multicultural millennials tend to follow them more than their non-Hispanic white (NHW) counterparts, but did you know that multicultural influencers are followed across all ethnic and non-ethnic segments? In fact, according to CMC’s study, half of the top 10 influencers of non-Hispanic whites ages 18-34 are of a different race or ethnicity compared to 40 percent for Hispanic & non-Hispanic African-Americans! When picking an influencer, make sure he/she has a broad enough and diverse enough reach.

Much like Campbell’s TV spot with a same-sex couple, and Mattel’s Barbie advertisement with a boy playing with the famous doll, diversity in influencers is just as important as diversity in advertisements. By partnering with a diverse group of influencers, your product or service is more likely to connect to and resonate with your audience, making your campaign successful.

While traditional advertising is still important in the everchanging marketing landscape, brands and advertisers should focus on the influencer marketing sector if they aren’t already. Although the number of impressions may not be as great as the number of eyeballs on a TV spot, the influence of influencers is great, and the ROI is there.