Influencer marketing is one of the fastest growing marketing tactics. Studies show that 40% of consumers had purchased something after seeing it advertised through someone they follow on Instagram, YouTube or Twitter.
Interest in Influencer Marketing has risen by more than 90X – from 2013 to present, based on Google Trends & Keywords analysis.
As consumers become more aware of the traditional promotional content they are exposed to, they can easily see through it. That’s where the power of influencer marketing comes in. The authentic and seemingly more legitimate recommendations from influencers enable brands to increase their exposure and brand engagement.
What is Influencer Marketing?
Influencer marketing is the promotion of a brand or its products through the use of individuals (influencers) who have influence over potential customers.
Do you want to get started with influencer marketing or add it to your digital marketing strategy? Read on for our top tips to help you plan and run successful influencer marketing campaigns.
1. Define your goals & target a
An influencer marketing campaign without clearly defined goals and a specified target audience is almost certainly set to fail. You need to have a clear idea of your goals and who you will target to plan your campaign effectively.
There are numerous goals that can be achieved through an influencer marketing campaign, including increasing brand awareness, reach and engagement or generating revenue and leads. The goals you set will enable you to plan and measure your campaign successfully, by understanding the key metrics you’ll use to assess your performance.
If your goal is to increase brand awareness, reach or engagement you should measure the impressions, likes, comments and shares. This will give you an idea of the number of people who have seen and engaged with your content.
If your goal is lead generation, influencers can be asked to share the link to your brand, product or service. Based on the number of leads generated from their link, you can find out the cost per lead and calculate your ROI.
Similarly, if your goal is to generate revenue, you can create custom affiliate links for each influencer, enabling you to keep track of purchases. From this, you’ll be able to calculate the cost per acquisition and determine the ROI of your campaign. Using custom affiliate links also enables you to see the value generated from each influencer.
Define a Target Audience
Along with setting goals for your campaign, you should determine your target audience. This is often overlooked yet is vital to creating a successful influencer strategy.
Strategising your campaign will be much easier once you have a clear idea of who you’re targeting. It’s important to take lots of factors into consideration when developing your target audience.
You should think about their age, demographics, interests, locations, and more, to help you make sure that your campaign reaches the right people. This will also help you find the right influencer for your brand as you can search for influencers whose followers have similar interests.
2. Thoroughly research your influencers
Before working with any influencers you should research them thoroughly. The popularity of influencer marketing has led to a rise in the number of influencers in the market, bringing with it a spike in influencer fraud.
Fake influencers buy followers, likes and comments to inflate their follower count and engagement. This is in order to attract brands who will pay them for ineffective sponsored content. Partnering with such influencers can result in a loss for your brand because there’s no ‘real’ audience to engage with.
Be sure to carry out thorough background research on influencers and their social media profiles before working with them. You can easily check their average engagements per post and use this to calculate their engagement rate. It’s also worth checking to see if they’ve worked with any recognised or reputable brands in the past.
According to Scrunch, an engagement rate of more than 2.7% is good.
3. Choose quality over quantity
Choose influencers with a ‘high quality’ engaged audience, that match your target audience interests, rather than going for an influencer with the largest follower count.
You should choose to partner with influencers who can truly have an impact on the audience you’re targeting. When selecting influencers to work with, it shouldn’t be about ‘who has the largest following’ – go for influencers with highly engaged audiences as these are the influencers who really have an impact on their followers.
Choosing quality over quantity also goes for how many influencers you want to engage with and promote your brand. You’re much better off working with a few influencers with highly engaged audiences whose interests are aligned with your brand, than 10 or 20 influencers who have little affinity to your brand and whose audiences are not highly engaged.
4. Don’t be afraid to give up some control
Unlike traditional marketing where brands have total control over creative and how it is distributed, influencer marketing relies on the authenticity of influencers. Each influencer you work with may take a different approach to showcase your brand or product. Therefore you should be comfortable in handing over some control to influencers.
Brands should recognise that the influencers they work with will have a better understanding of what resonates well with their followers, and so allowing them to exercise creativity in how they approach the brief is key to their content being authentic.
Brands should, of course, maintain oversight of influencer campaigns to ensure all applicable regulations are followed but should avoid micromanaging influencers and encourage them to work creatively.
5. Build long-term influencer relationships
Whilst one-off sponsored posts may be what immediately comes to mind when you think of influencer marketing, you should focus on building longer-term relationships with influencers.
Long-term influencer relationships are beneficial to both parties. As a brand, it means that the influencer is more invested in you, trusting you to produce high-quality content. For influencers, long-term brand relationships show that the brand trusts them completely, and opens up new collaboration opportunities.
Try to think about how you could work with an influencer in the long-term. How they could help explore new avenues such as account takeovers, brand ambassadorships or product collaborations. By aligning your brand with select influencers for the long-term, you’re more likely to tap into their influencing power.
Hopefully, our influencer marketing tips have helped you learn how to plan and execute a successful influencer marketing campaign. Remember, it’s important to select the right influencers for your brand and audience and collaborate with them in a mutually beneficial way.
We help deliver digital marketing campaigns that convert. Speak to our expert team today for more information on how we can help your business grow online through influencer marketing and digital strategy.