An Ultimate Guide To Influencer Marketing: How to Make Money by Promotion

An Ultimate Guide To Influencer Marketing
Marketing has historically been a market reserved for firms specializing in the field. Thanks to the internet, this is no longer a rule. Companies can engage in their own marketing. Individuals can market for companies, and make a lot of money doing it. This is especially true when it comes to influencers.

Influencer marketing has been growing for years now. More companies are discovering the benefits of tapping influencers to increase their brand awareness. The methods for this type of marketing depend on the company and the influencer. The one thing that remains is the ability for an individual to get involved in effective marketing for a brand.

Get To Know Affiliate Marketing

When talking about influencer marketing there is always going to be a relationship made with affiliate marketing. This is the kind of marketing in which individuals have been known to promote businesses. This promotion is done through the use of blogs and websites to promote individual products. Some of the most influential affiliate marketing companies include:
  • RewardStyle + LIKEtoKNOW.it
  • Shopstyle
  • ClickBank
  • ShareASale / AWIN
  • CJ Affiliate
  • Pepperjam
  • Rakuten
  • Amazon

In these relationships, the individual may create a relationship with an affiliate marketing group, or directly with a company. Amazon is a great example of this. They are an individual company, but they represent products from a vast list of companies.

When engaging in affiliate marketing, individuals will pick from an available list of products to promote. They then promote these products along with a unique URL link. Once a purchase is made, there will be a lag time to account for returns. Once that period of time has elapsed, the affiliate will be paid.

Another form in which affiliate marketers may be paid is through a Pay Per Click (PPC) program. This is less popular because it does not pay as much. The upside to the marketer is there is no requirement for a sale in order to be paid.

It should be noted that affiliate marketing is not quite the same as it was a little over two decades ago. Whereas only a handful of people could get involved due to the specialized knowledge required, today almost anyone can get involved. Such saturation makes it more difficult than ever for the average person to be successful in affiliate marketing.

Cue The Rise Of Influencer Marketing

Influencer marketing is similar to affiliate marketing in many ways. An individual is still being asked to market products for a business. The products are promoted with an agreement made between the influencer and the company as per compensation.

The biggest separation between affiliate marketing and influencer marketing is followers. Individual affiliate marketers have to start from scratch in order to get out the word about what they are selling. They may use different SEO tools as well as email follow up automation to engage with potential customers. Influencers already have a loyal following they can speak to.

Affiliate marketers have to carefully work to gain reliability. This is important as to not appear just to be trying to make money, but helping people to have a better life. Influencer marketers simply need to maintain their integrity while promoting products.

With more companies willing to spend more money on influencer marketing, it seems to be a no brainer. As long as you have a loyal following you can tap into, you have the potential to make a seven figure salary just promoting products.

How To Get Started With Influencer Marketing

With all the benefits of influencer marketing, the only question becomes, "how do I get started?" First and foremost, if you are using Instagram, you are already ahead of the curve. This is because Instagram is among the most effective platforms for this kind of marketing.

All you need to do is begin a relationship with a company you believe in. Look to the companies that fit into your niche. For instance, if you are known for your forays into the outdoors, you may want to approach companies that specialize in the gear you like to use. Let them know you would like to promote their business to your followers.

If you have a lot of followers, it is possible for you to command a large amount of money for your involvement. The majority of companies establish contracts in which influence marketers are paid for each post. What you are paid will be directly related to the amount of followers you have. It will also relate to how effective they feel you can be in promoting their business.

Make sure when you are getting started with influencer marketing, you do not obligate yourself to do more than you are willing to do. Contracts will likely be drawn up with specific requirements for wording of calls to action as well as how you will represent products. These contracts will also include frequency of posts. Pay close attention to every detail before signing anything.

Increasing Profits From Promoting Other Businesses

Analytics are your best friend when it comes to making more money in influencer marketing. Every platform offers you analytics to see how your posts are doing. Pay close attention to which posts are being received well, and which ones are falling short of the goal. This should be a constant review for you.

Budgets set by companies for influencer marketing are on the rise. Given that some companies are willing to invest over $1,000,000 a year on influencer marketing, your income is only going to be restricted by your willingness to set yourself up for success.

Make sure in addition to your own analytics, you are discussing with the company about the effectiveness of your posts. Ask for unique URL codes to be used for when you are linking people to their sites. This way, your posts turnover may be tracked effectively.

Take care to not overextend yourself. As an influencer, your value is set by how much trust your followers put in you. If you promote a product you and your audience does not identify with, it will come off as fake. This will effectively have an adverse reaction for the product you are trying to promote as well as your popularity with your followers.

Maintaining An Influencer Marketing Relationship

There are many ways to increase your position as an influence marketer. Speak with the company about being involved in promotions. If they are willing to allow you to offer free items, you can get excited in multiple posts about the promotion as well as making posts to talk about the winner.

Any new products coming out from the company should be given to you first. This will allow you to get to know the product and decide whether it is something you feel comfortable promoting. If it is, you can have some fun making posts about the exclusive sneak preview of the product as well as your personal opinion of it.

Exclusivity with the company may not be afforded to you immediately, but it is something you should strive for. By making you the face of the company, you will become related to it regardless of whether you are promoting their products in your posts or not.

Conclusion

As an influencer, you have a unique opportunity for marketing. Better than affiliate marketing, you have the potential to help promote products for a business. Make sure you take your time in selecting the right companies as well as the contract you sign. Once you have established the relationship work hard to maintain it and grow your influence.

With everything you have learned here, it is time to get started. Start making your plan as to who you would like to work with and what you would expect in terms of compensation. Before you know it, you will have a great additional income you can depend on. All it really took was you lending your voice and approval for a company you may already love.

AUTHOR_NAMEAbout the Author:
Michael Habiger is a content marketing specialist with over 6 years of experience, currently head of the marketing department at FollowUpFred. He is a marketing nerd and front-fighter for big data and automation.
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