If you have a small business, sooner or later you will search for new clients through social networks. Why are we talking about small businesses? Because if you have a large company, you are most likely already using influencer marketing opportunities. If not, it's never too late to start.
What is the first step in influencer marketing?To enter the influencer's market, you first need to find appropriate influencers – social network leaders who are popular and share your brand’s values. They motivate the audience to make purchases or increase your brand recognition. In the latter case, companies often use influencers as brand ambassadors. We’ve talked about it here. There are three ways to solve the search problem:
Hypetrain helps to search for the right influencers to further cooperate with them. Currently, Hypetrain only works with YouTubers, but soon we plan to add other social media channels as well. The top priority is to integrate Instagram creators into the platform by the end of 2022.
Let’s suppose you have a small business that produces handmade cosmetic soap. Your company is actively developing, and you are thinking about acquiring new customers. With Hypetrain Search & Analytics tool you can find the most relevant data you need to make a well-informed decision while searching for influencers and achieve maximum transparency in your influencer marketing campaign workflow.
More than two million YouTubers' profiles are in the Hypetrain database worldwide. Currently, our algorithms collect data from the channels that continue to release content from the last 90 days. Why is this important? Because if a blogger has stopped making content for some reason, changed platforms, got burnout, went on a vacation, or just decided to end their career, there is certainly no point in contacting this influencer. Probably, they will not respond to the collaboration offer at all. Therefore, it is essential to monitor and collect data only from "living channels'' or those that are regularly updated.
Hypetrain’s algorithms collect data from published videos 24 hours, three days, one week, two weeks, and one month after publication. In addition, all videos posted on the channel in the past 90 days are analyzed. This analysis allows you to forecast how much a published video from each blogger will gain and what impressions a business can count on when choosing between influencers.
First, it is important to understand which country the influencer's audience is located in. If you want to boost sales in the US, and a YouTuber makes content in the US, but is most popular in India… Well, there is a 99% chance that this collaboration will not bring desired outcomes.
That is why we pay attention to the countries of the blogger’s primary audience. It is also important to look at demographic indicators. Is the content popular with men or women? What age group? These are some of the most important questions you should answer when you start looking for influencers.
Let's go back to our example. We want to find new customers for handmade cosmetic soap. Our customers must live in the US. We are interested in a female audience aged 18 to 34 years. In that case, we will look for YouTubers with 100K to 500K subscribers so that the video gains at least 30k views.
To make an effective match between the brand and the creator, you should select categories in which influencers work, such as education, entertainment, gaming, health, etc. You can also search for keywords to help you find the right bloggers. We used the second option. Our keywords are “soap” and “handmade.”
In addition to the number of views that everyone pays attention to, Hypetrain’s algorithms consider Engagement Rate (ER). This metric is based on comments and likes and takes the number of video views into account. On average, 4% ER is considered a good indicator. If the ER is above 4%, it speaks of a very loyal audience for the creator.
Also, Hypetrain’s algorithms allow you to predict the cost of the creator's advertising based on the data on his channel. The advertising cost is calculated for a message 60 to 90 seconds long, usually embedded in the middle of the view.
We'll choose The Daily DIYer channel for another search results example. The author pays a lot of attention to home comfort and craft products. Let's look at her profile.
In the first 24 hours after publication, her video gets an average of 25k views, which is not very much. But considering her audience’s high loyalty (ER is two times higher than the statistical average), advertising on this channel can be very effective. In addition, you can look at the CR (conversation rate). This metric shows how much the video hooks the audience for the subsequent discussion in the comments.
The recommended advertising price on this channel is $2,591. Knowing this is important when starting negotiations with a YouTuber. The advertiser may know nothing about the influencer except that they are popular on social networks. The recommended price allows you to evaluate commercial offers from YouTubers objectively. If a blogger offers a price for advertising on their channel that is several times higher than the recommended price, you may have a reason to think and look for other influencers.
You can also look at the dynamics of subscribers and video views on the channel. In our case, the dynamics are positive.
Almost the entire audience of the channel are women aged 18 to 24 years - 21%, from 25 to 34 - 29%. This fully complies with the request for advertising cosmetic products.
You can also look at similar channels that are popular with the selected audience and the channels producing close content.
Depending on the advertising budget and objectives, you can choose several creators to start an advertising campaign.
In our example, in the case of a brand that wants to start advertising handmade soap, Hypetrain's experts recommend four influencers. The next steps are negotiating with YouTubers, discussing budgets and creatives, and establishing deadlines and subsequent analysis of the influencer campaign’s effectiveness.
If you have any questions about how to start working with influencers, Hypetrain's analysts and managers will help you to figure it out. You can email us or register on the platform.