Major Types of Influencer Marketing

Major Types of Influencer Marketing

Influencer marketing is the shiny new gem in the crown jewels of digital marketing. We have previously discussed the differences between traditional and influencer marketing, as well as the latter’s advantages in the ever-evolving digital landscape.

This kind of collaborative marketing method can be beneficial for both startups and established businesses. The influence of a popular influencer can lend credibility to a young brand’s reputation. More established brands can also expand their customer base through this method, as people tend to place more trust in individuals as opposed to faraway, faceless corporate entities. 

If your brand is looking to work with an influencer, read on to learn about the three major types of influencer marketing.

Barter

Barter entails a brand sending an influencer some of their products or services in exchange for social media deliverables. These could be a social media post featuring the products, an unboxing video, or a product review. The process is mutually beneficial to both parties and often does not include any other monetary dealings.

Affiliate marketing

Affiliate marketing is a step-up from barter. A brand may give an affiliated influencer unique coupon or discount codes for their products that the influencer can share with their followers. The influencer makes a small commission every time a lead is generated from clicking on affiliated links or a purchase being made through them. These campaigns may be clubbed with sponsorships. This is commonly seen in the YouTube community, where content creators may be offered discount codes for products in their niche. This can include anything from beauty products, books and even subscriptions to streaming services or skill learning programs.

Fixed fee model

This is often seen with influencers that are already well-established in their respective niches. This makes brands comfortable paying an upfront fee for their services. In a fixed fee model, a brand pays the influencer a fixed amount of money in exchange for a certain amount of social media deliverables. 

Influencers turning into entrepreneurs

Apart from being brand ambassadors, an increasing number of influencers are breaking the surface of the entrepreneurial world. Realizing the power of influencer marketing, many are launching their businesses in different fields, such as beauty, fitness and fashion, and creating their own products and businesses from the ground up. 

These businesses have the advantage of a pre-existing, loyal customer base due to the influencer’s large following. Followers are likely to buy the product as a show of support towards the influencer. Thus, the initial brand loyalty for the product stems from the bond between the literal figurehead of the brand–the influencer–and their customers; the actual quality of the product itself usually only comes in next.

As followers tend to be a community of like-minded individuals that share similar ideals and values with the influencer, it is important that the products created by the influencer align with and cater to this sense of community.

This can be seen prominently within the beauty industry. The average shopper at a make-up store is likely to be familiar with influencer-created brands like Huda Beauty by Huda Kattan, Kylie Cosmetics by Kylie Jenner, Fenty Beauty by Rihanna, Dragun Beauty by Nikita Dragun, About Face by Halsey, to name a few. Many of these products ascribe to ideals, like being cruelty-free, vegan and more inclusive of diverse skin tones, promoted by the influencers.

Image courtesy of Unsplash

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Workplace Bullies: How Do You Deal With Them

Workplace Bullies: How Do You Deal With Them

According to the 2021 U.S. Workplace Bullying survey, 30% of employees have direct experience being bullied at work. The typical office bully constantly puts you down, ignores your opinions and blames you for things you had nothing to do with. Some bullies are better at concealing their behaviors than others, and some might even gaslight you into thinking that you are making a big deal out of nothing. 

What Should Employees Do in a Crisis

What Should Employees Do in a Crisis?

At the start of January 2023, a drunk man in an Air India flight’s business class urinated over a 72-year-old woman sitting beside him. The man, Shankar Mishra, was the Vice President of the financial services company Wells Fargo (he was fired following the incident). In itself, the incident is disgusting.

Top 5 AI Companies in the World

Top 5 AI Companies in the World

Technological developments are driven by the human need to make life easier and complete tasks faster and more efficiently. The drastic growth of technology in recent years has paved the way for artificial intelligence (AI) to become an integral part of almost every industry—from education and lifestyle to music and sports. It is everywhere. And by the looks of it, it is here to stay.

3 High Demand Metaverse Jobs in Future That Your Kids Should Look into

3 High Demand Metaverse Jobs in Future That Your Kids Should Look into

It’s no wonder why Jumpstart Media named “metaverse” one of the top emerging trends and technologies to look forward to in 2023. With an expected compound annual growth rate (CAGR) of 39.4% from 2022 to 2030, Grand View Research forecasts that the global metaverse market is set to expand exponentially. From fashion shows, gaming, luxury products, sports and travel to art, many industries are tapping into the metaverse’s potential.

4 Most Anticipated Tech IPOs of 2023

4 Most Anticipated Tech IPOs of 2023

The technology industry has been a driving force in shaping the global economy for decades and the initial public offerings (IPOs) of technology companies are often highly-anticipated events. In 2022, the tech IPO market saw a slowdown compared to the previous year, 2021.

5-Luxury-Items-That-Are-Worth-the-Investment

5 Luxury Items That Are Worth the Investment

The world of luxury items is one of elegance and exclusivity, with their value increasing as time passes. They are unattainable and highly coveted by the masses. Plus, luxury products have a Veblen effect on the market—as their price rises, their demand does, too.