9 MIN. READ
At its simplest, influencer marketing uses a person with a large social media following to promote a product. Often, the influencer is either paid for the testimony or offered free product in exchange for the testimony. While some larger manufacturers take advantage of this phenomenon with celebrities, for many SMEs this approach would be a bit of a tall order. So is influencer marketing beyond the reach of SME manufacturers?
Not quite. There are avenues many SME manufacturers can take to benefit from this growing marketing trend.
The Meteoric Rise of Influencer Marketing
In 2020, industries saw a 20% decline in advertising, while influencers saw a 46% increase.
Meanwhile, social media use climbed beyond 4 million users worldwide in 2020
Influencer marketing is on track to become a $15 billion industry by 2022. This fact is leading marketing managers to increase their influencer budgets for the coming year.
Influencers post about their enjoyment or use of a product across a wide variety of social media. They post short videos of themselves using it, tweet a positive interview about it or share pictures of themselves using it on Instagram.
One influencer Facebook post has the potential to reach 138 million U.S. users. One-quarter of these users are 45 years old or older. The average user likes, comments on and shares posts. More importantly, they click on 12 ads each month.
This type of reach and engagement is impossible with traditional marketing methods.
Lincoln Motors and Matthew McConaughey
The partnership of Lincoln Motors and actor Matthew McConaughey is one high-profile example of a manufacturer partnering with a social media influencer.
Almost immediately, the ads generated nearly 18,000 tweets. Beyond that reach, the ads have been discussed and parodied on television shows, increasing their original reach. Some of the spoof ads airing on other shows have become nearly as famous as the original ads.
As P.T. Barnum famously said, “There’s no such thing as bad publicity.” If people are talking about your company, at least they know who you are.
In an oddly symbiotic relationship, the ads have helped both McConaughey’s acting career and Lincoln’s sales. In fact, since the first ads aired in 2014, Lincoln has reported steady year-over-year growth. While other automotive manufacturers offer steep purchasing incentives, Lincoln Motors offers few.
Realistically speaking…
Neither Lincoln Motors nor McConaughey disclosed the amount McConaughey received for his endorsement. It's safe to assume that the amount is well out of the reach of the average small to medium-sized manufacturer.
Don’t abandon influencer marketing, though!
Smaller companies have several opportunities on the micro-influencer level.
Start with the companies with whom you do business. Chances are good that they already have a loyal social media following. Ask a variety of those companies to create short videos using your products. If necessary, shoot the videos yourself.
In today’s world, video is king and brevity is the soul of video. Think back to the days when Norm Abrams was practically a household name due to his regular appearance on “This Old House.”
Norm taught an entire generation of home remodelers how to renovate older homes. He taught them how to use power tools. He taught them when to call on professionals for help.
Find your own Norm Abrams, and several other experts, from your current client base. Post the video on your YouTube channel and ask that the client do the same. You will be amazed at the number of leads you can generate by taking this simple step.
Find a Trusted Partner
If you are unsure about how to include social media influencers in your marketing campaign, start with a trusted partner.
MNI’s industrial marketing solutions through IndustryNet works with 17,000+ manufacturers and industrial suppliers throughout the U.S., helping companies connect with one another and sell their products for more than 100 years.
IndustryNet’s marketing solutions also helps companies like these reach a niche audience for their company announcements, helping industrial suppliers share their story with relevant contacts in the industrial world. MNI promotes and shares these stories across its massive social media platform that encompasses 35,000 followers, making it a highly influential channel for reaching a relevant industrial audience.
When your company is ready to scale its marketing campaigns, MNI stands ready to help along the journey. Learn more about their marketing solutions here.
