Influencer Marketing, a term that’s catching up fast and growing its existence at an accelerating rate throughout the globe. As the name suggests, it is a marketing technique that emphasizes on taking services of popular and respected global personalities to deliver your products to a broader market. In short, you pay the right person to publicize your product throughout their reach.
If you are an avid user of social media platforms, you must have encountered many strategies of influencer marketing strategies, the most common being an influencer holding a product in his social media post with a tagline that suggests he/she uses it and so should you.
There were times when advertisements on TV, radio, newspapers or the internet websites did the trick but these methods are losing their charm now. People have switched to cord-cutting, media fasting and using ad blockers to cry out loud. Millennials love purchasing a product after watching an influencer on social media platforms like YouTube, Twitter, Instagram or Facebook.
“People do not buy goods and services. They buy relations, stories, and magic.”
How to find?
In any influencer
marketing strategy, you have to prove that you can provide value to the
audience of your influencers. To find effective influencers for your brand, you
need to go through the basic questions of why and how to get to your who?
> Why are you carrying out an influencer marketing campaign?
> How much should it affect the success of your product?
Set goals for your influencer campaign. They can be as simple as increasing the followers of your brand on social media platforms where you promote your products, increasing the visibility of your brand before your target audience, increase sales by a certain percentage and lastly increase the number of visits or engagement rates on your website. You need to be certain, quantifiable, feasible, practical and time-bound when setting goals.
It is easy to find the right influencer if you know who you want them to influence. You may already know your potential customers to promote your brand to. For the influencer marketing strategy to work right, you need to work with influencers who are connected to your target customers. Narrow your market down to a specific niche, this will help you select the right influencers.
How do they help?
By working with influencers on social media, your brand messages get conveyed to their vast networks thereby increasing your brand awareness. There are two ways in which you can establish your relationship with an influencer, first is the organic approach, the ROI you receive in this case is volatile in most cases. The second way is if you pay them to lobby your product. Here the cost may be a factor to look at but you’ll definitely receive good results.
Paid influencers will reach out to your target market which is by default their followers, being proactive in promoting your product or brand. But always remember, they are influencers because of their honest relationship with the people. Any actual influencer won’t deal with you if they don’t like your product.
Types of Influence marketing
1. Discount Codes and Affiliate Marketing
In the strategy that involves discount codes, i.e you offer a unique discount which is difficult to say no to and encourages customers to make immediate purchase on impulse. Make discrete discount codes for each of your influencers that they can share on their platforms and ultimately increase sales.
On the other hand, affiliate marketing involves giving a certain amount of profit as a commission to the influencer for the sales generated due to their content and influence. It encourages active support for a product by the influencer as they receive value every time a sale is made.
2. Sponsored Blog Post
When we talk about long term partnerships like celebrity endorsements, we know they have the potential to drive serious ROI. But that doesn’t mean that an influencer marketing strategy involving sponsored blog posts cannot do it. There are immense benefits involved with the content on influencer blogs.
The best example being health products. Many fitness bloggers endorse some of the other brands that promise to provide a healthy life and these brands actually keep getting the rewards for a long period of time. The main reason being, search engines. SEO plays a great role alongside the popularity of the influencer. Thus a blog having a longer lifespan and lower cost price gives out the maximum benefit.
There are times when engaging influencers for individual collaborations is quite tough, in that case, events can save you a lot of time and bring a lot of attention towards your brand and product. This method is suited for all types of products but it can do miracles in the gaming or theme park industry. In this influencer marketing strategy, the brand hosts an event displaying their product alongside inviting influencers.
Here the influencers can experience the brand, network with media, stakeholders and other influencers. You can also open the event for your target audience and burst the charts of engagements. But when it comes to events, make sure they run smoothly, are fun and worth remembering. If they go wrong in any way, you risk losing the value of your brand. Make it unique but not disastrous.
4. Competitions and Giveaways
Firstly, be sure that whatever you do in this method is legal. If you want to increase your brand awareness or you are unveiling a new product to your market, competition or giveaway is a nice way to collaborate with an influencer to promote it or actually host it.
The micro-influencers play a big role in such campaigns, they have the highest engagement percentage among all and can reach the right audience with the right mode in quick time. Be innovative with the entry requirements and get your market to engage with your brand. These campaigns are also good for increasing your social followers and capturing consumer data via email marketing.
5. The Internal Role
This influencer marketing strategy is majorly for the bigger brands with long term goals, a creative vision, and good budget. Here, instead of working with an influencer on the outside, you actually bring him/her into your team at a place he/she is best suited for or create a unique role for them. It could be anything, ranging from an advisor, product designer or something that aligns their talent.
The best example of this is a fashion influencer working in a fashion brand. He/she can design or advise on creating a range of products. This type of influencer strategy gives a new face to your brand, attracts the attention of consumers and media, strengthens the working relationship with the influencer and also seals genuine promotion of the alliance.
6. Influencer Takeover
This is a method that’s different from the usual influencer marketing strategies. When you let an influencer take over any of your social media platforms or all of them for a particular period of time, to share their content or life, you open up a new horizon for your brand. People are attracted to the way of life their influencer are living. Now imagine, an influencer living a week on your social media with your products all around him/her.
It not only is good for content creation but will result in follower and engagement boost. Take an example, if you are a travel brand and you send a well-known influencer for a trip you want to sell and let him share his/her experiences on your Instagram account in the form of stories or posts. The cost is negligible when compared to the profits you’ll gain after.
There are many types of influencer marketing campaigns, six of which are mentioned above. Though. the best campaign would depend on your goal and the type of relationship you have with your influencer.
Influencer Marketing is one of the most sought after ways to carry out campaigns. It shows visible results within a short period of time. This blog states 6 tried and tested strategies that one must implement to get guaranteed results. Following this will definitely improve your sales and help you spread a word about your brand.