What businesses should know if they want to dive into the world of influencer marketing?
There is no denying social media campaigns are a great way to influence people. Influencer marketing is now the go-to strategy for companies looking to get a good ROI - especially start-ups. It was extremely effective in 2016, but things have changed since then.
It’s important to note these changes as they directly impact the outcome of the campaign. Business owners must understand that it is no longer as simple as sending your product to people of influence or with large followings on social media in exchange for content. Influencer marketing, however, is not all doom and gloom. Listed below we explain how you can still have an iconic influencer marketing campaign with positive brand awareness through a few simple strategic methods.
When sending your product to influencers, it’s no longer based on how many followers one has. Their engagement rate must be researched into, as well as their audience. If their audience does not align with the brand, the objective will not be reached. There is a myriad of influencers on the web today with a range of differing audiences, interests and platforms in which they connect on. From coffee lovers to golf addicts, find those that your brand aligns with, alongside a healthy community engagement and get in contact!
Once a database of influencers has been thoroughly researched, a budget must also be allocated to the campaign. Every influencer operates differently, however, the majority charge a certain amount for a social media or blog post, some may charge for a twenty-four hour story. Many influencers have partnered with agency management, therefore, also charge an agency fee of 10-25% for each deal. However, the prices specified in each influencer’s media kit can be negotiated. It is integral budget is allocated to influencer marketing, as without budget, brand awareness will not have a large increase.
Once influencers and budgets have been arranged, the next step is to organise the send out of the product. The personalisation of the products is huge. Sending off the product alone isn’t enough, you must include a brochure of brand and product information that is personalised to each influencer. Not to mention the way in which the product is packaged; again, it must be on brand. Instead of the product being delivered in a postbag, it is now common for businesses to send their products in a PR box, reiterating the personalisation of the delivery experience. While sending the product to influencers via post is good and often has a great response, offering discount codes and competitions result in a higher engagement rate with the target audience. These tactics allow the brand to interact with their stakeholders via influencers.
Many businesses are taking influencer marketing to the next step. Audiences are now aware of the lack of genuineness behind an influencer posting in regard to the brand. Consumers understand influencers are now being paid to post and a sense of trust may be lost. Large businesses are now facilitating interactive events that result in influencers participating in activities that are on brand. The events often reiterate the brand's core values and involve influencers to partake in the occasion.
When implementing an influencer marketing campaign, it is integral to have a point of differentiation to other campaigns. Creating an iconic campaign will have successful outcomes for the business. It must be reiterated that stakeholders are being targeted via influencers, which can only be done effectively when budgets are allocated.