Looking for a perfect Influencer Marketing Strategy to grow your business?
Influencer marketing has been a buzzword for a quite some time now, and the mainstream media regularly refers to it.
To pull off an efficient influencer marketing campaign you need to work with the right social media influencers.
But before we get to Influencer marketing strategy tips, and tools, let’s start with what and why…
What is Influencer Marketing?
Influencer marketing is a type of collaboration. A business collaborates with an influential person to promote something, either brand or a particular product.
Initially, celebrity endorsements were the main form of Influencer Marketing.
But in today’s digital world, social media content creators with niche audiences can now offer more value to brands. These people have dedicated groups of followers on social media platforms. They are known as “social media influencers.”
What is a Social Media Influencer?
Quite simply, an influencer is the one who can influence others.
A social media influencer is someone who influences through social media. The form of influence can vary depending on the approach of the influencer.
The right influencer can reach your ideal audience, build trust/ loyalty, and drive engagement. They create original, compelling content.
What is the difference between Word of Mouth Marketing and Influencer Marketing?
Although some people use word-of-mouth marketing and influencer marketing interchangeably, there is a real difference between the two.
Influencer marketing is all about engaging individuals and leveraging their influence among friends and family, whereas, word-of-mouth marketing is the actual avenue by which this communication takes place.
So, influencer marketing includes word-of-mouth marketing activities by nature, but not all word-of-mouth marketing is driven by influencer campaigns.
Why is influencer marketing important??
The influencer marketing strategy has changed the way we buy things nowadays.
Conventional digital marketing no longer works.
Smart brands using influencer marketing to create an ongoing conversation with consumers, recognizing that their audience is influenced by different people, at different times, in different ways.
Brands often receive diminishing returns from digital advertising and content marketing but influencer marketing goes past reach and clicks to continuous engagement and conversations, giving you metrics that matter and align with your business goals, such as:
- Attracting new customer
- Driving customer loyalty and trust
- Maximizing customer lifetime revenue
- Increasing repeat purchases
Consumers now want authentic voices, not sales executives who use the same old tricks. content creators have the power to drive business growth and deliver authenticity that engages with audiences.
How does Influencer Marketing work
Social media is where consumers are having conversations today. Now the question is how does influencer marketing work?
It is a form of branded engagement where businesses connect with those who boast prominent social footprints. The goal is to plug into new communities and connect the brand to new audiences through the voice and trusted relationships of the said influencer.
Authentic content creates trust. People gravitate towards influencers because they value the content that they create. Developing strategic relationships with influencers allows brands to incorporate their messaging into that content, and share it with consumers through a trusted source.
People are talking online. Be a part of the conversation. Social media platforms have changed the way brands interact with consumers. Working with influencers allows brands to add to the conversation rather than derailing it.
How to find the right social media influencer in 8 easy steps
There are more than 5,00,000 influencers on Instagram alone. This means you have many potential opportunities for influencer collaboration. Put in the work to find the right influencer.
Marketers’ ability to find the right influencer varies widely by country.
Here are 8 ways to find and connect with the right influencer for your campaign.
1. Consider the three Rs of influence
Influence is made up of three parts:
- Relevance
- Reach
- Resonance
Relevance
A relevant influencer promotes content relevant to your business and industry. They just need to have an audience that aligns with your target market.
Reach
Reach is basically the number of people you could potentially reach through the influencer’s follower base.
Resonance
Resonance is the potential level of engagement the influencer can create with an audience relevant to your brand.
Bigger is not always better. A huge follower count makes no sense if those followers are not interested in your offer. A smaller follower count can be very powerful if it is a niche area. Niche influencers have very dedicated and engaged followers.
The latest development is the emergence of nano-influencers. These influencers can have as few as 1,000 followers, but their word is diamond to their dedicated fans.
2. Know who you are trying to influence
Your influencer campaign should not address all people. An effective strategy requires you to talk to the right people using the right tools.
The main step is to define who your audience will be for this specific campaign.
Developing a persona is definitely a great way to make sure you understand who you are trying to reach. Once you have done that, create a matching set of influencer personas. This will help you understand the qualities you are searching for in your influencers.
3. Look for engagement and trust with the right audience
The key here is trust.
Your audience needs to trust and respect the opinion of the influencers you partner with. Without the trust factor, any results will be superficial.
So, how can you tell if your potential influencer is trusted? Engagement.
You want to see plenty of views, likes and shares? Engage. A good engagement rate means a loyal following.
4. Go for a consistent look, feel, tone, and values
You need to find someone who produces content with a look and feel that complements your own.
The tone must be appropriate for the way you want to present your brand to potential customers.
Also Read: Instagram Ads: How to Advertise on Instagram in 2020
5. Keep an eye out for sponsorship saturation
Keep an eye at what your potential influencers are posting. How often are they sharing sponsored content?
If they are already hitting followers with tons of paid posts, their engagement rate is not overall good.
Search for plenty of organic, non-paid content to keep followers interested, enthusiastic, and engaged.
Asking for too many posts in a short timeframe will make your offer hard for the influencer to accept and work on even if it comes with a large paycheck.
6. Research and learn
In-demand influencers get lots of offers. When you first approach an influencer, you need to show that you have put in the time to learn what they do.
Get to knows what their work is about and who their audience is. Start your approach slowly by interacting organically with your target influencer’s posts by liking their content, commenting when appropriate. Be appreciative.
7. Plan your budget
Influencers with high reach rightly expect cash. Free promotion might work with nano-influencers, but a larger influencer campaign requires a budget.
Be willing to consider the influencer’s needs, too.
Here you can get a clue on how to pay influencers.
8. Reach out privately
A direct message is a great place to start. If you can find their email address, try that too(tools like ContactOut can help!). But avoid sending mass emails or generic DMs.
It might take a little longer to write a personal message to each influencer. But, it will show you are serious about a potential partnership. This will, in turn, increase your chances of striking a deal.
Make it easier for the influencer to trust you by providing as much information as you can about your brand. Make it clear how he/she will benefit, beyond the paycheck.
Wrapping Up
Before you dive into influencer marketing, it is important to understand the rules. To measure the effectiveness of a campaign, you have to understand its value in terms of return on investment i.e how much engagement the campaign will receive. Once you initially set in your mind who to pick for endorsement, add them to a stream to track what they share and who they engage with. This will help you understand their relevance to your target audience. Do you find this post about Influencer Marketing Strategy useful? Tell us in the comments below.
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