Influencer Marketing Services

Influencer Marketing Strategy

What is Influencer Marketing?

Influencer marketing is a kind of social media marketing that involves endorsements and product/service mentions from influencers–individuals who have a dedicated social media following and are viewed as experts within their niche.
In such type of marketing, rather than targeting a large group of consumers, businesses instead inspire/hire/pay influencers to reach potential audiences.

Influencer marketing is closely connected with two other forms of marketing: social-media marketing and content marketing. Certain influencer campaigns include a social media component, where influencers are expected to spread the message via their social channels. Many influencer campaigns also carry a content element in which either brand creates content for the influencers, or they create the content themselves.

Why is Influencer Marketing Important?

To stand apart in the tough competitive world, a unique marketing strategy is very important. To tackle this issue, brands are resorting towards influencer marketing to create an engagement with consumers, recognizing that they are influenced by different people, at different times, in different ways. Unlike other forms of marketing like digital advertising, brand social and content marketing, influencer marketing excels beyond the reach and clicks & avails continuous engagement and conversations that attract sales and other important inputs that align with your business goals, such as:

  • Attracting new customers
  • Increasing repeat purchases
  • Driving customer loyalty
  • Maximizing customer lifetime revenue

In the current times, unlike traditional marketing, consumers want authentic & known voices, rather than sales executives who use the same old tactics. Businesses therefore can’t ignore influencer marketing any longer: content creators have the power to drive business growth and deliver authenticity that engages with audiences.

How does Influencer Marketing Work?

The consumer is the king of the market. They very well know what they’re looking for. Brands no longer have centre stage, consumers do. Social media is where consumers are having conversations today, and one of the most impactful ways to converse with them is via influencer marketing. So this is how influencer marketing work.

Influencer marketing is a form of brand engagement where marketers connect with those who have a prominent social presence & following. The goal is to rope in new communities and connect the brand/product to new audiences through the voice and trusted relationships of the concerned influencer.

Content is the king of marketing. It creates trust amongst the audiences. People are drawn towards digital influencers because they value the content that they create. Hiring & Developing strategic relationships with these influencers allows brands to incorporate their messaging into that content, and share it with consumers through a trusted source. While dealing with the influencers, brands must allow influencers to stay true to themselves when working on sponsored content. Fake or irrelevant content will let down influencer’s power by reducing their followers’ trust in them.

In the current digital world, people choose to gather information about products even before reaching a brand site. They look for their friends online for recommendations about products, they look through search engines, and they read product reviews. By partnering with social media influencers, brands can deliver desired information to the customers as they can share product and brand information that shapes purchase decisions.

How to Create an Influencer Marketing Strategy?

Influencer Marketing Hub

Determine Your Goals

Influencers are an excellent source of delivering information about products/services & attracting sales for the brands, but before selecting top influencers, businesses should set goals. Firstly, they should define the target audience –Once the target audience is established, the next step is setting up a budget.

After determining the budget, they should select which KPIs to measure. Some KPIs to take into consideration are audience reach, views, engagement, and increase in followers.

 

Identifying Influencers

Influencers can be easily tracked on some of the most popular influencer marketing platforms like Instagram, YouTube and Snapchat. It is important to choose influencers whose values and style matches one’s brand. Once businesses have determined the target audience, they can begin to search for influencers within the existing audience for loyal fans who could be interested in becoming influencers. For smaller brands, it is recommended to opt for micro-influencers than a celebrity endorsement.

Micro-influencers have been proven to be more successful than traditional celebrity influencers due to their authenticity. Brands should hire relevant influencers, have a large yet organic audience reach, and whose content resonates with their desired audience.

 

Planning Schedule

As per many experts and case studies, it is clear that peer recommendations have been shown to influence between 20 and 50% of all purchasing decisions. Thus, after selecting an influencer or influencers, the business strategy needs to leverage the influencer network. Influencers are known to create consistent, on-brand content that is attractive, convincing and appeals to potential consumers and can be re-used across a variety of platforms. But only creating content is not fruitful. Timing & reach plays a vital role here.

Businesses should determine the best times for posting using KPIs and demographic trends, ensuring that all influencers are posting regularly and at reasonable interviews. Influencer marketing should be well integrated with the entire marketing strategy for generating the best & desired results.

 

Give Influencers Creative Freedom

It’s a known fact that influencers are so successful in what they do is because of their authenticity and genuineness in the work. With more and more brands turning to influencer marketing, it can be sometimes challenging for businesses & influencers to keep content unique. It is, therefore, necessary that brands allow some limit of freedom to influencers to publicise their creativity and personal style. This can be fruitful for both the parties & bring out innovation & unique content which might get viral & get businesses their targeted goals.

 

Reviewing & Optimizing Content

Even if the company has hired the best influencers resonating with the brand, they still need to ensure whether their content is high-quality and acceptable. A timely check of whether influencers are posting content aligned with the marketing values and goals is a must.

To optimize the reach of content, brands should promote influencer posts and branded content and encourage their influencer(s) to do the same.

 

Measuring Results

To ensure whether the influencer marketing strategy is working in the correct direction, brands should consistently measure KPIs, by doing so the effectiveness of influencers will be easily measured. Other than meeting all goals set for KPIs, brands should analyse which posts perform best or worst by measuring engagement and views.

Leveraging correct influencers and expanding the audience will also provide brands with key insights into their targeted audience. This can help brands best target their audience and increase customer conversions.

How to Track Influencer Marketing Campaigns?

One of the ways to track influencer marketing campaigns is by creating a specific hashtag, to know what they are doing. For businesses aiming for more sales, giving out affiliate codes or tracking links is an easy way to track what is being generated from influencers.

Amplify your sales prospects with a unique marketing strategy including a well-knit influencer marketing strategy. Connect with us today.

FAQsFrequently Asked Questions and Answers on Influencer Marketing

What does an influencer marketer do?

Influencer marketer advertise the brand which improve brand awareness, drive traffic, and send the message of company to their target audience. They market to the audience across various channels which allows the brand to increase reach to thier buyer personas.

What type of marketing is influencer marketing?

Influencer marketing is a kind of social media marketing that involves endorsements and product/service mentions from influencers–individuals who have a dedicated social media following and are viewed as experts within their niche.

What is an influencer marketing strategy?

Influencer marketing strategy is a strategy that identifies famous people who have a strong influence on a brand’s industry or target audience. In an influencer marketing strategy, a brand builds a partnership with Influencer in which the influencer agrees to convey the brand’s messaging or content to their audience.

What is social influencer marketing?

According to Wikipedia, social Influencer marketing is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field.

How do I start an influencer marketing?

Follow below steps to get started with influencer marketing:

  • Determine Your Main Goal
  • Identifying Influencers
  • Planning Schedule
  • Give Influencers Creative Freedom
  • Providing rewards for the influencer
  • Reviewing & Optimizing Content
  • Measuring Results

How successful is influencer marketing?

Below are many statistics that prove influencer marketing is a true investment in digital marketing:

How many followers do you need to be an influencer?

According to CNBC, You need a minimum of 5,000 Instagram followers and 308 sponsored posts a year to generate $100,000. That may be easier than you think: A recent HBO documentary showed how everyday people can manipulate Instagram and other platforms to become famous online influencers.

According to Hypeauditor, Any person with 1,000 – 5,000 followers on their social media account can be called a nano-influencer. Nano-influencers are those people we meet every day and who are popular amongst their friends and families.

How much does it cost for influencer marketing? How much do influencer marketing agencies cost?

On average, influencer marketing agency prices range from $1000 to $18,000 per month. While every agency varies, this fee tends to include the following: Creating an influencer marketing strategy. (Webfx)

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