Influencer marketing is the most effective way to reach potential customers for your business. Influencer marketing is promoting or selling a product or service through people such as analyst, experts, decision-makers, celebrities, professional advisors, trendsetters and so on, those who can create an impact on conversation and branding of your Business. Influencers can generate 11 times Return On Investment (ROI) than the traditional advertising such as Television and Desktop Ads.
Influencers can help you with writing the articles and sharing your brand information on their social media.
Some interesting stats about Influencer marketing
According to Bloglovin’ 67% of marketers believe that influencer marketing is most powerful to reach their target audience.
According to twitter, 49% of consumers are influenced by influencers recommendation while purchasing.
According to Linqia,
86% of marketers used influencer marketing in 2017, 92% of them found it is most effective.
39% of marketers plan to increase their influence marketing budget in 2018.
Instagram is the most important social network for influencer marketing in 2018, said by 92% of marketers.
In 2018, 36% of e-commerce marketers are planning to use influencer content.
According to collective bias,
92% of consumers trust Peer recommendations.
Non celebrity influencers are 10 times more likely to influence in store purchases than celebrities.
Men are 2 times more influenced by blog reviews than women.
Influencer content viewed 7 times longer than display Ads.
60% of consumers are influenced by social media reviews while purchasing.
Who is an Influencer?
Influencer is an individual who has substantial followers on social media and therefore he has the ability to impact the purchase decisions of other people by his knowledge, position and authority. An influencer can also be a normal people.
Types of influencers
8 Steps for a successful influencer marketing
1. Determine your Goals
The first step of influencer marketing strategy is identifying your Goals and that will determine the campaign success. Most common influencer marketing Goals are,
Increase in followers
Generate quality leads
Increase Click through Rates
Increase brand awareness
2. Define your Audience
Without the understanding of target audience, you cannot create a marketing campaign. Determine which demographic is suitable for your product or service. You need to find out the likes, interest and preferences of your audience. After determining your audience you need to focus on the budget. Determine how much you can afford to spend on this campaign? This will help you to choose influencer you can afford.
3. Determine your social media channel
Determine which social media channel is best to reach the right audience and reach the Objective of the campaign because different platforms are used for different types of people. Determine social media platform for desired engagement is vital to your campaign success.
4. Find the Right Influencers
Find the right influencer for the right campaign and it is the hardest part of influencer marketing. You have to find someone who has the ability to promote your product or service. You need to decide which influencer is best for your brand and who is going to match with your goals. Decide if you need an expert, an activist, an analyst etc. You can Use external sources to find influencers such as Social media, Google and TV.
Consider below rules when find the influencers
Relevant to your customers
Audience engagement with the content
Quality of the content
You can use Find your influence platform to find the Right Influencers for your business. Find your influence (FYI) Platform connects more than 100,000 high value influencers to brands.
Social blade tool will help you to track user statistics for youtube, instagram and twitter.
Identify micro influencers as well. Micro influencers are influencers who have followers lesser than 10,000. The recent studies show that micro influencers have more loyal followers than the macro influencers. Micro influencers are more affordable than celebrities, macro and mega influencers.
5. Give influencers creative freedom
It is important that you trust your influencer with the content creation. Allow influencers have creative freedom when they promoting your product or service and also they know their community better than you. According to Crowdtap influencers like to work with brands that give freedom to create contents and creativity.
You should listen to your influencer’s guidance to reach your goal and this will help you to strengthen the relationship with your influencers. You can also create content with your influencers.
6. Negotiate rates and contracts
Influencers are paid to promote a product or service through their content or social media post. Payments depend on influencer’s experience, engagement and size of their community. You should negotiate compensation and sign an agreement with your influencers. Make sure every detail is included in that agreement. It can include,
Licensing rights for sponsored contents
Procedure to follow if there is a disagreement
Agreement creates good business relationship between you and your influencer.
7. Execute your Campaign
After completion of reviewing your content, Now it is the time to execute the marketing campaign. Once the marketing campaign launched, ensure to monitor the views of the posts, impression, comments, shares and number of likes.
8. Measure your results
Track and measure your campaigns and it will help you to know the ROI. ROI analysis includes Website traffic, Social media growth, audience reach, sales, signups and clicks through rate. Read more about web and social media analytics for better understanding of result measurement. Track the campaign results will help you to know which influencer is best for you? And which post performs best and which is worst?
Onalytica Tool will help you to measure the influencer marketing campaign.
Influencers impact the purchased decision of consumers.
Influencers help you to drive more conversions.
Influencers build relationship between their followers and your brand.
Influencers help you to build quality links and improve your search engine ranking also.
They drive traffic to your website.
It is an effective and quick way to reach your target audience.
Influencers also help you to reach new audience who are relevant to your product or service.
Influencers build brand awareness.
It will help you to reach your goals affordably.
Don’ts in influencer marketing
Don’t take complete create control
Don’t try to limit influencer’s creativity
Don’t spam influencers with follow-ups. Be patience
Don’t hire an influencer based on followers
Don’t forget to give guidelines to influencers.
Don’t forget to give feedback to your influencers.
Influencer marketing is one of important strategy effective marketing for any businesses. It is one of the most effective ways to improve brand awareness. Finding the right influencer for your industry or business is a key to influencer marketing and you must be aware of fake influencers as well.
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