The key to successful leadership today is influence, not authority.
– Ken Blanchard
Influencer marketing is a form of marketing where people that have a considerable amount of influence on the targeted market of a business are given incentives for the sake of promotion of that particular business.
According to investpecro, 94% of elite marketers use influencer marketing because it derives 11 times more ROI than traditional digital marketing channels. The term “influencer marketing” is becoming more and more relevant to the millennial. It doesn’t come as a surprise that any company that wants to grow must try influencer marketing.
Set a definite goal
The key to any successful business is to have a definite goal. Without having a definite goal, it is easy to get lost. Setting a definite goal helps a business to focus on what is most important and helps as a guide in determining the actions it must be taking for the maximum benefit. 2 important things to consider before setting a definite goal is the target audience and the budget. Once the target audience and the budget is finalized, the process of allocating the finance becomes easy and smooth.
Key performance indicators (KPIs) must be established. Few of the factors that must be taken into consideration before establishing your KPI are audience reach, views, engagement, increase in followers, sales, etc. KPIs shall help a business to evaluate whether the set actions are fruitful or it needs more work.
Choose the influencers
Let us keep in mind the basic consumer purchase behavior model: – AIDA. Sounds familiar? Well the acronym stands for attention, interest, desire and action.
An influencer can greatly help in getting the attention, generating the interest and desire in a potential customer and lastly in creating revenue.
The influencers that you choose will do the work of representing your brand. Before choosing your influencer, you must first do thorough research on the number of influencers that are there in the market. With the rise in social media, it is so easy to find so many people that are talking about the things that are related to your brand. You can look into their social media activities and figure out who resonates with your brand and who doesn’t. Make sure that the influencer you choose is authentic. The influencer must have a good reputation and people must believe in him. Do not just go after people with the highest number of followers, also look at the content that they are promoting. More followers does not always ensure maximum influence. Try to look into the engagement the followers have with the potential influencer rather than just his following rates. It is wise to find out about the personal objective of the potential influencer. Choose the ones that fits perfectly for your brand.
Approach the influencers
“A leader is great, not because of his or her power, but because of his or her ability to empower others.”
-John C. Maxwell
Once you have chosen your influencer, the next step is to approach them. You can do it via mail or via phone call if their business numbers are available. Approach as many as you need. Clear communication is required. The potential influencer must be informed about the number of hours he must give, content he must represent, the incentive he will receive for the work, etc. Communicate with them about your expectations from them. Be very clear and precise. Once you have communicated with them about your needs and requirements, it is up to them to decide. It is not always about having big influencers, small influencers are also very important. The cost of having small influencers is less when compared to the big influencers. Prioritize according to your requirements.
Create your marketing strategy
Having effective influencers in itself will not do everything. You must work hard to make sure that your content is good. An influencer will only communicate your content, it is your work to provide quality content to him. You must develop a friendly relation with your influencer and be interested in his work and make sure your content is provided to him in a hassle free manner.
Effective influence campaign will optimize your revenue. In order to attain that, you should coordinate with social media platforms. You can use different social media for different purposes. However, it is better to disclose to the audience that the influencer is being paid for promoting your campaign. Transparency is the key.
Instagram is the biggest platform for influence marketing. In 2017, 12.9 million brands sponsored influencer posts. The numbers are only increasing.
However, you must not limit your posts to Instagram. You should make use of all the social media platforms available to you. Different social media platforms are created for different purposes. Jay Shetty is one of the best example I can give about the brands/people that grew through Facebook. The best platforms for short videos is Facebook. Use the platform that is best suited for the type of the content you want to post for maximum coverage.
Along with these wonderful social media campaigns, align your efforts with other marketing endeavors like events, press releases, etc. to ensure optimum utilization of influence marketing.
Review your content before and after posting. Post relatable things after taking into consideration the latest trends and happenings. Your post must appeal to people.
Influencer marketing is mainly targeted for the millennial. The millennials are well aware of this form of marketing. Be transparent, honest and mean good, nothing will go wrong.
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Review the results
End of the day, any marketing strategy that you use must ensure optimum ROI. Look back at the model of your KPI and compare the results. Ask yourself if your key goals are achieved? If the business has generated good revenues? If the marketing strategies used are effective or if they need to be renewed, etc.
The influencer must be given the feedback as well and thank him for his time, as time is very precious. Keep a note of posts that had the maximum likes and that generated the maximum leads. This will help you as a guide for the future.
Influencer marketing is the fastest growing marketing strategy. More and more marketers are investing in it. Try it! It yields great results and works usually, if not all the time!