July 23, 2020

How To Build A Successful Influencer Marketing Strategy

Influencer marketing is a form of social media marketing that involves brands and users partnering to promote a product, service, or campaign. Influencers are existing users that have built a large following or brand reputation within a particular niche.

Collaborating with influencers gives companies an opportunity to reach new audiences, boost brand awareness, and drive sales.

When beginning a new partnership, it is important to note how to build a successful influencer marketing strategy.

Identify effective platforms and target audience.

The most important first step in any marketing strategy is identifying the most effective social media channels. This can be accomplished by identifying which platforms will be the most effective for reaching the brand’s target audience.

The most popular platforms for collaborating with influencers include Instagram, Twitter, TikTok, YouTube, Facebook, or website content such as blogs or videos.

If you are planning on using influencers for more than one social media channel, no two strategies should be the same. Each platform is different, with different audiences, content, and purposes.

Professional networking platforms such as Facebook, Twitter, and LinkedIn are good for business-to-business brands or industry-specific companies.  However, Instagram and TikTok would be effective for entertainment or e-commerce brands targeting the younger generation.

Set campaign goals.

A successful campaign will always differ from one business to the next, but it is always dependent on influencer marketing campaign goals. Regardless of size or budget, we highly recommend using SMART goals, which stands for Specific, Measurable, Attainable, Relevant, and Time-bound. Without a SMART goal, you might never know if or when you have achieved the goal.

When collaborating with influencers, common campaign goals include reach, traffic, and sales.

Reach refers to raising brand awareness by reaching new audiences that were previously unaware of your business, products, or services.

Traffic refers to increasing online traffic to your brand’s website. This occurs when users click on links provided by influencers or search for your brand by name on search engines.

The most common campaign goal is most likely to drive sales and conversations, which ultimately means to make money.

influencer strategyDetermine message and verbiage.

It is imperative that brands establish campaign goals prior to determining messaging, as the messaging is dependent on the campaign goals. For example, if influencers only post product recommendations, this will not help brands hit their traffic goals.

The message and verbiage should align closely to brand goals. If you are looking to build awareness, influencers should give background information, explain their relationship, and talk about their experience with the business and products.

Always add website links to posts when trying to boost website traffic. When simply promoting a new product or service launch, be sure to include a general product description and review. When attempting to drive sales for products and services, not only include descriptions and reviews, but also sales price and real-life demonstrations.

With any type of social media marketing, it is always better to be open and honest with your audience and collaborators. Having a good understanding of goals and messaging will help you find the right influencer for the job.

Set a budget.

Before reaching out to influencers, brands need to set a marketing budget. Many influencers have built a mass following that has allowed them to make a living, which means they are expecting to be compensated for their services. The cost of the collaboration is dependent on a number of factors, including following, reach, impressions, reputation, and campaign goals.

In addition to the cost of posts or brand mentions, brands should also factor in the cost of the products and services given to the influencer. In order to give an honest product review or recommendation, the influencer is going to need the product or experience the service beforehand.

When setting your budget, be sure to consider the goal, number of influencers, and platforms. Campaigns with bigger goals and additional platforms will require a higher budget.

Contact influencers.

Now, what you all have been waiting for – it is time to finally start researching influencers and reaching out. Based on your campaign goals, determine which type of influencer would be the right fit: micro-influencer, macro-influencer, celebrity influencer, or nano influencer.

When working with celebrities, you might have to work with an agency or manager rather than speaking directly with the influencer. Working with other types of influencers is much more straight-forward, you can normally find their contact information on their social media profile. Whatever approach you decide, do not worry too much, there is no right or wrong way approach as long as your brand remains transparent and genuine.

Track campaign performance.

As with any marketing campaign, keeping track of the performance is crucial. This will not only show you how successful the partnership is, but how well your brand, products, and services are being received by the audience.

In order to track engagement, brands can assign a specific hashtag for each campaign or monitor influencer/ brand mentions. Brands can easily track traffic and sales performance by providing influencers with a custom tracking link or coupon code. That way, every time a user visits the website or purchases, the brand knows exactly which campaign the lead originated from.

If you would like more information about building an influencer marketing campaign, need help managing your social media campaigns, or other digital marketing services please contact Pink Dog Digital at (410) 696-3305, email us at info@pinkdogdigital.com, or visit us on the web at www.pinkdogdigital.com.

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