It’s time to step up your influencer marketing campaign. According to a study by Shopify, brands may increase revenue by $5.20 for every dollar spent on influencer marketing. Earned media can increase a budget by $4.87 for every dollar spent. But there is also a lot of competition. Since Statista reports that almost two-thirds of marketers are raising their influencer marketing spending, it is more crucial than ever to enter the field with a well-defined strategy for maximising return on investment.
Here, I’ll explain the fundamentals of influencer marketing and how it may help your brand, and then offer some advice for improving your approach to the field.
The Meaning of Influencer Marketing
Historically, brands have collaborated with famous people to increase their visibility and interest. A goods maker may hire a famous actor or model to promote their wares on television or in print media. Jennifer Garner’s role in advertisements for Capital One is a good example.
Modern day influencer marketing follows the same basic principles. However, in content marketing initiatives as opposed to commercials, the influencer is there, and the influencer typically has a more genuine relationship with the company.
One such example is the collaboration between Dunkin’ Donuts and Charli D’Amelio. The dancer from Generation Z who made it big on TikTok now has almost 150 million fans. She was an obvious choice as an influencer because she talked about how much she liked Dunkin’ long before there was any kind of formal relationship between the two of them. However, Dunkin’ didn’t merely ask Charli to consume their products in the videos. After she told her followers about her go-to speciality beverage, Dunkin’ introduced “The Charli” to their menu. They promoted the collaboration through contests, merchandise sales, and the introduction of a second beverage.
7 Suggestions to Help You Create an Influencer Marketing Plan
The technique for establishing a successful influencer marketing plan is the same whether your target audience is young people on TikTok or business executives on Facebook.
Pick Your Objectives
Influencer marketing has numerous advantages for businesses. Your eventual aim must guide your strategy. For instance, Charli and Dunkin’ collaborated to boost companies’ visibility and revenue. The corporation might have decided not to sell “The Charli” to save money or run a pilot programme. Brand recognition would have been increased, but sales might not have been as high.
First, decide if you want to boost recognition of your brand or revenue. Determining what you hope to achieve from your campaign will guide your selection of influencers and your evaluation of its performance.
Figure Out Who You’re Writing For
By leveraging influencers, businesses may more precisely target specific demographics. Find out what topics and formats people want to read about. You can use this information to pick the right influencers to reach them.
For their “Mad Intense” campaign on Snapchat, for instance, Stride Gum enlisted the help of hip-hop singer and producer DJ Khaled. Because the company wanted to raise its profile among young people, this was a great option.
Look for Possible Swaying Factors
You can begin your hunt for influencers once you have a firm grasp on your end goals and target audience. One technique for doing so is to mimic their actions. Get to know the individuals behind the stuff they enjoy by actively seeking it out. You can also use a platform designed expressly for influencer marketing, which can help you find relevant influencers and narrow down your search depending on their audience demographics. If you find someone interesting, you should check out more of their videos to make sure they fit in with your brand’s tone and message.
Think about the influencers’ audience and level of participation
A nano-influencer can be a great option as well, depending on the specifics of the niche. Even well-established companies with substantial marketing budgets may choose to work with a collection of micro-influencers on a single campaign or launch several separate ones. The influencer’s level of audience participation should also be taken into account. The effects produced by an influencer are enhanced when their audience actively participates with them.
To find reliable partners that can assist you in accomplishing your objectives, search for influencers whose material receives a large number of likes, comments, and shares.
Make a Specific Outline
In order to have a successful influencer marketing campaign, authenticity is one of the most crucial components. Influencers have a following because people value them and what they stand for. It’s unlikely to be successful if the two companies’ brands aren’t complementary, or if you expect them to change their ways as part of the relationship.
Therefore, it is essential that any influencer you are thinking about collaborating with completely grasps your goals. The influencer is responsible for producing material that is consistent with your companies, but you can collaborate on ideas.
Evaluate the Outcomes
The influencer may be the only person who can see certain indicators, such as the number of likes, shares, and comments. Make sure you can see what’s going on, or at least have the influencer send you information at regular intervals.
You may learn what works and what doesn’t about your campaigns by using a service like Google Analytics in conjunction with UTM codes. As a result, you’ll be able to fine-tune your plan and boost the success of future initiatives.
Before posting, review content created by influencers
The content that their influencers publish is usually entirely up to them. Once more, the effectiveness of your influencer marketing approach hinges on your sincerity. It is important to have an editorial review procedure in place to ensure that the influencer’s content is consistent with your brand’s message and values before it is released.