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Influencer Marketing: Strategies and Possible New Regulations

Communication changes day by day just like technology and digital platforms. Using celebrities and well-known personalities for advertising is a well-known resource, but these accelerated changes made the influencer marketing a key strategy for digital persuasion. Do not stay out of knowing in depth this action and its possible new regulations.

What is influencer marketing?

Influencer marketing is a marketing strategy where commercial relationships are made between an influential person (from some sector) and a brand in order to make it known and "Recommend it"

This action is not new to the market. For a long time, celebrities, Hollywood celebrities and athletes collaborate in advertisements for different brands in order that you want to be just as handsome, successful and consume the same as they consume. It is at this point that the famous Influencers in the digital age. 

Influencers today, are common people and generally unknown at first, who they generate sympathy through social networks and in that way they are gaining thousands of followers, getting to generate a community. The idea is that you feel influenced by their recommendation, opinion, consumption and want to imitate them to be part of it. 

At the beginning, the brands realized this and began to propose collaborations to Youtubers e Instagramers with the intention that they upload photos and / or videos promoting their products in exchange for obtaining these for free. Later, these same collaborations began to become professional and it was no longer for the exchange of photos and products, but for financial remuneration with a contract and agents involved.

Influencer marketing is constantly growing and this is reflected in a study carried out by savanta y bazaarvoice in the United States, United Kingdom, Canada, Germany, France and Australia. The 86% of consumers actively search for content generators or influencers before deciding to purchase a product that they have not tried before in the first person.

Keys to include influencers in your digital strategy

There are many types of influencers and these must be adjusted to your brand and strategy for the action to bring good results. For this reason, we want to share with you some key steps to follow so that contact with influencers is truly a success.

Influencer Marketing

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- Know what types of influencers there are

We can name 5 different types:

  • Nano influencers: they are those who have less than 10.000 followers.
  • Micro influencers: they present a community between 10.000 and 50.000 followers.
  • Medium influencers: they exceed 50.000 followers up to approximately 250.000.
  • Macro influencers: it already has a full-fledged community, ranging from 250.000 to a million followers.
  • Top influencers: those people who exceed one million followers.

We could also separate them between native people, who were born from social networks and No. native people, they want they were already famous and then they created a community for that.

- Analyze the target audience of the influencer:

The important thing for you and your brand are the followers of the influencer. Therefore, you must know perfectly who they are, what they like, what niche they belong to, how they react, etc. Let's be clear, you are not going to perform actions with an influencer followed by soccer fans, when your product is tennis. 

- Measure influencer engagement:

Not everything is followers in this. The important thing is to check the interaction it generates with your community and the engagement it receives. This arises because many have arrived thanks to the purchase of followers and this is affected by their likes and comments.

- Present a clear proposal:

For things to work, they must be well written and clear. Think ... what are you going to propose? In exchange for what: money or product? How is it going to spread? That last question is more important than you think. Remember to agree on quantity, times and type of publication.

Regulations for influencers in the General Law of Audiovisual Communication

Currently, social networks are consumed by 26 million Spaniards according to IAB Spain. This number is a clear reflection of the Covid-19 pandemic as digital consumption has increased and trends accelerated to levels never seen before.

According to Influencer Marketing Hub in his study The State of Influencer Marketing 2021, prepared from 5.000 interviews with professionals in the sector, the investment in them reached a value of 9.700 million dollars in 2020, 44,7% more compared to the previous year and it foresees that the spending of the brands in these profiles will end in 2021 with 13.100 million spent.

Furthermore, it shows that TikTok is the social network that behaves the best in any of the contexts and the one that has registered the greatest growth, especially in advertising, although Instagram is still the preferred choice for influencer marketing, according to 64% of respondents.

In this way, influencer marketing has grown exponentially, also economically, that is why the National Markets and Competition Commission (CNMC) has proposed including influencers in the General Law of Audiovisual Communication.

They basically ask that influencers or content creators include in their advertising guidelines a specific identification that it is a content of this nature and that they do not buy followers since it would be considered unfair competition. On the part of the platforms, they are asked to implement age verification systems to prevent access to the "Gratuitous violence or pornography, as well as the need to facilitate parental control systems"

Consequently, it has been presented Influencers Trust Project, a project organized and co-financed by the European Commission which has been activated by ICMedia Federation of Consumers and Media Users Associations, With the help of Newlink United Kingdom, in order to build a more balanced and transparent market.

There is still nothing very concrete in the regulation of influencer marketing, but the line seems to be only one, especially if we bring the legal corpus already presented by other countries such as the United Kingdom, where they have already begun to publish lists of influencers who do not comply with the advertising code. In any case, something is clear from this post and that is that they are key when it comes to promoting our brand.

We invite you to take a look at our blog. Click here to learn much more about marketing.

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