Influencer Marketing for eCommerce: What It Is, Why You Need It, and Tips to Get You Started

The worldwide growth in social media usage has created more opportunities for business owners to market their enterprises. Influencer marketing is one of the strategies that most businesses use today to expand their reach, and many thrive because of it.

Influencer marketing has grown tremendously in recent years. However, if you have never heard of the influencer marketing concept, you might wonder what all the fuss is about.

Keep reading to learn more about influencer marketing and why you ought to adopt it for your eCommerce business.

What Is Influencer Marketing?

Influencer marketing is when brands work with social media influencers to market their products or services.

Social media influencers have a large following on various social media platforms and carry significant influence over their followers. Thus, working with influencers gives your brand access to a receptive audience.

Influencer marketing is common on Instagram, YouTube, TikTok, Twitter, and Facebook. Most influencers patronize several platforms to increase their reach. They establish their reputation around a particular niche and market brands that relate to their niche. 

Why You Need Influencer Marketing for eCommerce

Influencer marketing for eCommerce is one of the most effective online customer acquisition strategies.

Marketing studies show that businesses earn six times as much money as they spend on influencer marketing. More specifically, you get roughly $6.50 for every $1 you pay to an influencer to market your business.

Influencers are modern-day celebrities who have nurtured a relationship with their audiences. They hold sway over their followers’ purchasing decisions. By working with an influencer, you:

• Build valuable partnerships
• Reach your target market faster
• Create trust  with your target audience
• Increase sales

The pandemic provided an opportunity for eCommerce businesses to grow as most consumers shifted to online shopping. Buyers are now more open to online shopping, and communicating with them through their favourite influencers increases their chances of buying from your business.

Influencer Marketing Tips for eCommerce Businesses

If you want in on the eCommerce influencer marketing wave, the following tips will make your experience much easier.  

Know Your Influencers

We can distinguish four types of social media influencers:

• Nano influencers – 1000 to 10,000 followers
• Micro-influencers – 10,000 to 50,000 followers
• Macro-influencers – 100,000 to 500,000 followers
• Celebrity influencers – 5 million to 10 million followers

When an influencer has many followers, it becomes hard to engage them individually. So you will find that nano and micro-influencers have higher engagement rates than macro- and celebrity influencers. However, more followers mean a larger audience.

When choosing influencers, it is also vital to know their niche. Always work with influencers whose niches align with your brand to reach your target customers.

Create an Influencer Marketing Budget

A budget helps you find an eCommerce influencer you can afford. Influencers accept the following payments:

• Free products
• Predefined rates
• Sales commissions

Factors that determine an influencer’s charges include their:

• Number of followers
• Number of likes on a post
• Engagement rates
• Marketing campaign duration

Become an eCommerce Star With Influencer Marketing

Influencer marketing for eCommerce is one of the easiest ways to grow your business fast. However, finding the best influencer marketing strategy and the ideal influencer to partner with can be challenging. 

The good news is our sister company, CoganPR, works with a large number of vetted influencers across almost every industry imaginable. These influencers have a relationship with CoganPR because they have a proven track record. If you work with influencers, you will want to work with CoganPR to eliminate much of the guesswork.

Contact our team at The eCommerce Quarterback today at (877) 326-6360 for help developing eCommerce influencer marketing solutions for your business!