Influencer marketing has risen in popularity in recent years. It is a well-liked marketing tactic and a potent tool for boosting your brand’s recognition and supercharging your sales in a world saturated with social media. According to a study done by Rakuten in 2019, 80% of consumers indicated they had made a purchase based on an influencer’s post, and 41% of consumers discover new products weekly through influencer recommendations.
1. Determine the objectives of your influencer marketing campaign
It’s crucial to figure out what you want to achieve before looking for influencers to collaborate with. Influencers can assist your brand in achieving a variety of objectives, including:
- Brand recognition: Working with an influencer with a larger following may be beneficial if your goal is to raise awareness. The best metrics to track will be reach and impressions.
- Sales: If done correctly, influencer marketing can result in significant conversions. The engagement rate is the most critical indicator to monitor to increase conversions.
- Follower growth: An influencer can assist you in growing your social media accounts. You might, for example, conduct a giveaway with an Instagram influencer and make following your accounts one of the entry requirements.
2. It’s crucial to understand the four primary categories of influencers and how they interact with your specific, measurable objectives
- Mega Influencer: Has a million or more followers on one of their social media accounts.
- Macro Influencer: Has a following of 40,000 to one million people.
- Micro influencer: Someone with between 1,000 and 40,000 followers on a single social media network. They’ll almost certainly have a solid niche.
- Nano Influencer: Someone who has a small following. These influencers are more selective about the brands with which they collaborate.
3. Most Powerful Strategy- Focus on Finding influencers with a common Target Audience
These influencers may have never worked with a company in your field before. However, because of their impact on your target demographic, they can still add value to your retail store.
Search for speaker lists for industry conferences and summits that share your audiences’ interests since they are already catering out the type of content you’re trying to create.
4. Acquire the Old partners of a competitor
You are required to remain a step ahead of the competition in almost every facet of marketing. Working with one of a competitor’s ex-influencers, on the other hand, can be a great way to follow in their footsteps. If the analysis demonstrates that they added value to the rival, you can be confident that they will do the same for you.
5. When contacting influencers, use email
Many businesses commit the mistake of dropping a direct message to the influencer they want to work with on social media. However, this is a sure-fire way to have your proposition dismissed. Influencers with significant followings may receive hundreds or even thousands of direct messages per day; hence email them.
Make a deal on pay and deliverables
When you approach influencers, you’ll almost certainly have to perform some negotiating to please both parties. Depending on your goals and marketing budget, there are a few various sorts of compensation you can pursue:
- Gifts: In exchange for content, you give an influencer your product or service for free.
- Affiliate marketing: When a brand presents a unique discount code to an influencer’s followers to attract them to purchase, this is known as affiliate marketing. Depending on the frequency of the code being used at checkout, the influencer may receive a small kickback.
- Monetary Compensation: This implies you’ll pay an influencer a set fee in exchange for them promoting your company to their followers. Keep in mind that content providers do more than upload photos to Instagram.
Recent advancements have enabled astute marketers to harvest information about industry influencers from social media posts – not just hashtags that may or may not be relevant. Marketers can now see what these influencers are all about, including their demeanor, favourite products, personality attributes, and personal websites. Marketers can also better understand social influencers’ track record and audience and how relevant their content is to their audience.
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