What Is Influencer Marketing? Strategy and Mistakes to Avoid

Influence marketing is a form of social media marketing where businesses partner with influencers — people known online for their knowledge on a topic and who have sizable social media followings — to promote their products and services. Because influencers are often viewed as trusted experts, their endorsement of products can influence the buying decisions of those who follow them.

Businesses typically compensate influencers through free products and some monetary means. Essential factors in a business’s selection of an influencer are audience demographics, number of followers, engagement rates and cost.

A common tiering system for influencers is based on the number of their followers:

Nano-influencer: 1,000 to 10,000 followers.

Micro-influencer: 10,000 to 100,000 followers.

Macro-influencer: 100,000 to 1 million followers.

Mega-influencers: over 1 million followers.

While you may think a macro- or mega-influencer is needed for a successful marketing campaign, nano-influencers often…

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This article was written by Lisa Anthony and originally published on www.nerdwallet.com