Digital migration has pushed many brands online, requiring them to seek out virtual audiences. For some brands, the challenge of growing an online following has stunted revenue and growth. Business owner and real estate developer Amir Ben-Yohanan recently spoke on how influencers help companies reach a larger audience.
“Larger influencers are working with more than 100,000 people in their audience,” he explained. “Even micro-influencers with more niche followings are talking to upwards of 3,000, 10,000 or more. For every influencer campaign you sponsor, you can gain thousands of impressions. Some brands go for straight follower counts, while others look at engagement numbers.”
During the pandemic, the trend for “unfiltered” and “real” marketing from brands increased. Ben-Yohanan says this contributed to an even more powerful reach of influencers who already offered a down-to-earth, relatable and authentic marketing strategy. Influencer Marketing Hub reported that for every $1 spent on influencer marketing, brands could see an ROI of $18 on average in 2018.
- Start by identifying the right platform for your brand.
- Look for influencers who attract your audience.
- Determine your budget (more significant followings typically mean higher rates).
- Reach out to more than one influencer to ask about rates, conflicts, and timelines.
- Consider offering free products or services along with the fees.
Ben-Yohanan says that once you’ve picked out influencers to work with, the brand needs to outline necessary campaign elements. Many brands go too far, requiring strict brand guidelines and hurting the advantage they would get with the influencer’s appeal to their target audience. Other brands don’t set any guidelines and are surprised when influencers remove the campaign after a short time, don’t clearly show the product, or provide inaccurate information. Amir Ben-Yohanan explains that the best policy requires the content for approval and only asks for content changes if necessary.
“Being a difficult brand will earn you a reputation in the influencer circles,” says Ben-Yohanan. “Pay on time, keep guidelines common sense and not brand-specific, be clear and upfront—treating influencers like coworkers or industry peers goes a long way. Influencers can always take their audiences and walk if they aren’t happy.”
Ben-Yohanan says some brands struggle to set an appropriate budget. Because influencer marketing is newer for brands, they don’t want to put too much stake in their campaigns. He says brands need to treat influencer marketing as a significant part of their strategy to boost brand growth.
Amir Ben-Yohanan founded West of Hudson Group, Inc., acting as Chairman, CEO, and CFO for Clubhouse Media Group, Inc. and CEO at West of Hudson Group, Inc. (a subsidiary of Clubhouse Media Group, Inc.).