The Essentials of Influencer Marketing

What makes Influencer Marketing an essential part of a brand’s marketing strategy in today’s day and age? This article explains:

  • What is Influencer Marketing?
  • How to build your Influencers Marketing Plan?
  • What are the best practices in Influencer Marketing?

What is Influencer Marketing?

When a brand collaborates with an online influencer to market one of its products or services, or increase brand awareness, it’s called Influencer Marketing.

Influencers are generally classified into Micro, Macro, and Mega Influencer categories. However,  when selecting influencers for your brand, It’s recommended that you  also consider the industry, platform, and region. For example, it’s very easy to gain more than a million followers in popular industries such as Fashion and Lifestyle, but that doesn’t necessarily indicate how influential they truly are. Likewise, getting subscribers on YouTube is more difficult than gaining followers on Instagram. Therefore, the potential impact of an influencer on your brand cannot be determined merely by the number of followers they have.

Consequently, you should always measure Quality against Quantity. Yes, the number of followers is a deciding factor, but so are the quality parameters such as the quality of the content the influencer produces, quality of engagement, and quality of their audience.

It’s also important to note that there is a difference between influencers and content creators. Not all influencers are content creators and not all content creators are influencers. Influencers can be defined as someone with a large following but they may not necessarily be great at producing quality content.

How to build your Influencers Marketing Plan

These are the main steps to help you develop an influencers marketing plan for your various online platforms. 

Why – Start with your S.M.A.R.T objectives

Always begin your plan with clear objectives—Specific, Measurable, Achievable, Relevant, and Time-bound. Some of the most common objectives that brands have when working with influencers include:

  • Creating Brand Awareness – Brands use this objective when they are looking to achieve relevant reach. 
  • Building Interest – The objective of building interest is achieved through engagement, information, and reach.
  • Getting Conversions – Sales conversion as a marketing objective can be achieved through performance-based marketing with the help of affiliates and influencers.

To Whom – Define your Target Audience

Build a persona; An avatar of your brand’s ideal customer. It should outline the demographics, psychographics, whom they follow, what kind of content they consume, and what channels they spend their time on.

Your target audience penchant should align with that of the influencers you are looking to work with.

What – Content and main message(s)

You should define key messages based on your campaign objectives. The following are the different key messages you can design for different objectives.

  • Brand awareness related – Mainly used when launching a new brand. The message can highlight the key USP’s of the brand.
  • Product awareness related – Generally applied when launching a new product. The message can be structured around the uniqueness or special features of the product. 
  • Promotional – These campaigns promote the upcoming special offers and discounts. For example, Black Friday Super Sale.
  • Engaging – Your message should be about competition, brand affinity, and something that creates a buzz and engages with the target audience
  • Have a content plan – Plan the content with your influencers that detail the kind of content, posting schedule, posting frequency, time period of the campaign, and more.

How much – Assign a budget for the project

What should you budget for?

  • Influencer fees
  • Products/Gifts costs
  • Agency fees
  • Content creation 
  • Discounts or coupon/promo codes

Who – Select the right influencers 

The following factors should be considered when selecting the right influencers for your marketing campaign.

  • Campaign objectives – Which influencers will create an impact that matches your objectives?
  • Audience relevance – Are their audiences the same as yours?
  • Industry/focus relevance – Is the industry they are influential in aligned to yours?
  • Average reach and engagement per post – How does their content perform regularly?
  • Content creation quality and authenticity – What kind of content do they produce? Do they practice what they preach?
  • Brand alignment – Are their ideologies, opinions, and values same as those of your brand’s?
  • Channels – Are they influential on the channels where your target audience are?
  • Cost – Is their pricing line with your budget?
  • Influencers past campaign performance – How did their previous campaigns perform?

Measure the results

Here’s how you measure the results or performance of your campaign.

  • You should always measure metrics based on objectives
  • Track performance through UTM tags or coupon codes
  • Compare results to the costs from your other digital marketing channels
  • Use analytics tools like Google Analytics
  • Ask influencers for post-campaign results

What are the best practices in Influencers Marketing? 

These are some of the important practices to help you make the most of your influencers marketing campaign and avoid potential problems in the future.

  • Always have a contract signed to avoid any future disputes or issues, a legal binding contract is preferred
  • Set clear objectives, track results, and measure performance
  • Build and main long-term relationships with influencers you collaborate with
  • Provide influencers with clear guidelines but give them a creative space 
  • Look for authenticity
  • Do a background check
  • Always start with a plan

That was Influencers Marketing in a nutshell. For an in-depth understanding, register now for our Digital Marketing Course to learn more.

 

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