Every business knows that staying front of mind is imperative to success; you need to be the go-to guys for your niche.
You may already use social media to try and achieve this, but is influencer marketing part of your strategy? What difference could it make to brand awareness and sales?
Stats don’t lie. A whopping 80% of marketers say that influencer marketing is effective; while 89% think it works just as well as, if not better than, other marketing channels.
Intrigued by the potential of influencer marketing? Ready to join thousands of brands using it to elevate their strategy?
We’ll explain why influencer marketing is a worthwhile investment and how you can maximize your ROI when running campaigns.
What is influencer marketing?
The definition of an influencer can get pretty detailed, but the premise is that they have a loyal social media following.
Influencer marketing involves brands paying influencers to create promotional content that is used to promote the brand, its values, and its products or services.
Influencer marketing has been successful with brands big and small. By developing word of mouth and social proof—both very effective ways to persuade an audience to make a purchase—influencer marketing is proving hugely valuable, explaining its uphill trajectory.
Whatever your industry or product, influencer marketing helps to spread the word.
Is influencer marketing a worthwhile investment?
Is influencer marketing worth it? Can influencers really impact the purchase decisions of their followers? Most importantly, can marketers count on a decent ROI?
The stats certainly suggest so:
• 71% of marketers say that influencer marketing creates better quality leads
• 49% of consumers rely on influencer recommendations when deciding whether to make a purchase
• Influencer campaigns focused on branding and engagement generate eight times the ROI
Influencers help brands make authentic connections with their target market.
How to get the best ROI on your influencer marketing campaign
There’s plenty of research that proves the usefulness of influencer marketing. But in order to really maximise its potential, you need to understand what makes a campaign successful.
Here’s a quick checklist that’ll ensure your influencer marketing campaign is effective:
WORK WITH THE RIGHT INFLUENCER(S)
If your content collaboration is to make a real impact, you need to be sure that your audience aligns with that of your influencer.
Celebrity influencers (with 1m+ followers) provide impressive reach, but engagement and ROI might not be the best.
Micro influencers (with 3k – 100k followers) are more affordable and more effective. With their niche and fiercely loyal following, they provide excellent engagement, and while you may “reach” fewer people, your leads will likely be of a higher quality.
Finding an influencer who aligns with your target market as well as your brand values and aesthetic can take time and effort. That’s why many brands choose to simplify the process by partnering with an influencer platform like TRIBE.
KNOW YOUR AUDIENCE
Knowing where, what and when to post means knowing your audience inside out.
Which social platforms do they spend their time on? When will you find them online? Which posts will engage them most?
Understanding your target market takes time. Consider this a work in progress. Use data and analytics, as well as social testing to build a clearer picture of your audience with each new campaign.
SET CLEAR GOALS AND OBJECTIVES
As a brand, you should have a clear idea of what you want to achieve. As well as determining your goals and how you plan to measure them, it’s important to communicate all of these ideas to the influencer you’re working with.
Perhaps you want to elevate brand awareness or increase sales. If you’re working with a micro influencer you can afford to be even more specific.
Expanding engagement within a niche group—like college graduates, young professional females or people under the age of 24—is all possible if you’re working with the right content creator.
So, where should you start?
First, you must understand who your audience is. Then there two steps:
You must find them online – This will allow you to get to know them better and discover new ways to communicate with them.
Who influences their decision – Usually, this is more difficult to discover. Sure, your clients will follow many influencers on social media, but how many do they actually listen to? In order to answer this question you will have to analyse them one by one.
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