What is influencer marketing? You might ask. It is a type of social media marketing that relies on endorsements and product mentions from individuals who have a large social following and are regarded as experts in their field. Influencer marketing works because social influencers have a high level of trust with their followers, and recommendations from them serve as a form of social proof to your brand’s potential customers.
A decade ago, the influencer marketing space was dominated by celebrities and a few devoted bloggers. Now, it appears that we’ve seen social media influencers rise, saturate the market, and even harder to succeed
Influencer marketing strategies are more difficult to navigate than ever before as a brand, but we’re here with a guide to help you out.
Read on for our tips to determine if influencer marketing is for you.
The value of influencer marketing in 2022
Customers are unsure who to trust in the face of increasing demand for attention and a plethora of product options on the market. Their imposing measures to prevent advertising make it extremely difficult for brands to catch up with the digital landscape.
Meanwhile, customers prefer word-of-mouth advertising from family and friends rather than advertised content directly from brands. As a result, influencer marketing is likely to become the most popular and promising marketing strategy on the market.
Influencer marketing generates a far higher ROI for businesses than any other marketing tactic. Businesses make $6.50 for every dollar spent on influencer marketing, which is a very high-profit margin. This is a great indicator of the importance of influencer marketing.
How To Create an Influencer Marketing Strategy
1) Determine your goals
Defining the goals of your influencer marketing campaign and understanding the key performance indicators (KPIs) that measure success are critical steps in developing an influencer marketing campaign that works for you and your business. While there are numerous ways to work with influencers (some of which can be found here), not all will yield the same results.
- Brand Awareness: Whether you are entering the market for the first time or adding a new product/service line to your existing business, you must generate exposure and awareness of the new offering. Focus on reach, views, impressions, and engagement to accomplish this, as the goal is to get your product in front of your target market via multiple touchpoints if possible.
- Generate Sales: This is one of the most common goals of an influencer marketing campaign, but it can only be accomplished if the proper strategy is in place.
When your goal is to generate sales, it’s critical to select the right platform for your strategy and ensure that it instantly converts impressions into sales.
- Attract a New Target Market: Building awareness from scratch is similar to attracting a new target market, except you already have an established brand name and possibly more experience and budget behind you (this might not always be the case though). Influencer marketing is the key to attracting a new target market, and with the help of carefully selected influencers who align with your new target market and have high engagement with the audience you want to reach, you can completely shift a brand’s perception or build authority in a new space.
2) Know who you’re trying to influence
An effective influencer marketing strategy requires you to speak to the right people with the right tools—and with the right influencers.
The first step is to determine who your target audience will be for this campaign.
Creating audience personas is an excellent way to ensure that you understand who you’re attempting to reach. Perhaps you’re attempting to reach out to a larger portion of your current audience—or an entirely new audience.
Create a matching set of influencer personas once you’ve made your decision. This will assist you in understanding the qualities you seek in your influencers.
3) Understand the rules
Before you get started with influencer marketing, it’s critical to understand the rules. The Federal Trade Commission establishes these rules in the United States.
The FTC takes transparency very seriously. Make disclosure guidelines a part of your agreements with influencers.
Influencers must be able to identify sponsored posts. However, this is not always the case. Alternatively, they may do so in such a subtle manner that the disclosure is effectively covered up or incomprehensible.
The specific rules differ slightly from country to country, so be sure to check the most recent requirements in your jurisdiction. The majority of the time, you simply need to be clear and upfront so viewers understand when a post is sponsored in any way.
The following are some key points from the FTC:
- The partnership must be disclosed in both written and verbal form in video reviews. It has to be in the video itself (not just the description).
- Instagram now requires all branded content (also known as influencer marketing) on the platform to use the Branded Content tag to identify the relationship. The text “Paid partnership with [your brand name]” is added to the post header as a result of this.
- #ad and #sponsored are excellent hashtags for disclosure. However, make certain that they are highly visible and not simply tacked on to the need for a long string of tags.
4) Consider the three Rs of influence
Influence is made up of three components :
Relevance: A relevant influencer shares content that is relevant to your brand and industry. They must have an audience that is similar to your target audience. Society6, for example, collaborated with Art YouTuber Katherout to promote their eCommerce marketplace. With over 18,000 views on YouTube, the video exposed the line to a sizable organic audience of devoted fans.
Reach The number of people who may see an influencer’s content is referred to as their reach. It is the number of people who see the content through search results or recommendations plus the size of the influencer’s audience (followers). A small audience can be effective, but you must ensure that there is a sufficient following to align with your goals.
Resonance: Resonance is the result of reach and relevance working together. The influencer’s resonance determines how much activity will be generated by the publication of content. It refers to their followers’ level of engagement – the number of shares, likes, and comments. As previously stated, having a large number of followers is meaningless if those followers aren’t interested in your offer.
5) Compile a shortlist of influencers
If your influencer has a large number of social media followers, which is usually the case, your products will have a high level of visibility when shared through the influencer’s channels. When it comes to finding the right influencers to work with, many brands rely on this simple association.
The truth is that follower counts, no matter how impressive, are only one aspect of influencer marketing. There are others, and they are important for achieving the best results from your influencer partnerships.
For example, the tone of the creator’s content and a high engagement rate.
6) Do your research
Take a look at what your potential influencers are posting. How frequently do they share sponsored content? It’s tempting to include a well-known influencer in your campaign. It is, however, more important to choose the right influencers.
If they’re already bombarding their followers with paid posts, their engagement rate may not last. Look for a lot of organic, non-paid content to keep your followers interested, excited, and engaged.
Influencers in high demand receive numerous offers. When approaching an influencer for the first time, you’ll need to demonstrate that you’ve taken the time to learn about what they do.
7) Reach out privately, and personally
If you’ve found the right influencers to collaborate with, it’s time to reach out. Influencer outreach, like so many other aspects of business, can be intimidating. After all, you’re asking a complete stranger to help you with a business opportunity. You’re requesting a personal service from influencers, which can have an impact on their reputation.
Also, give as much information about your brand as you can. Tell them about your Instagram campaign and what you hope to achieve. Make it clear how the influencer will benefit other than financially.
One thing to keep in mind during this process is that you may not want to use the term “influencer” when approaching potential partners; instead, refer to them as “Creators.”
8) Collaborate with your influencer to develop effective content
Choose an influencer who is a good fit for your brand and give them free rein. If you try to force them into your marketing mold, you risk creating a campaign that appears forced.
After all, they built a following by producing content that drew a lot of attention. Allow them to use your product in an environment where they have already had success.
Of course, it’s a good idea to provide some guidelines about what you’re looking for. However, don’t expect to be able to stage-manage the entire campaign.
9) Measure your results
When working with an influencer for the first time, the best metric to look at is engagement. When the influencer posts, you should pay attention to how their followers interact with it. These followers could turn out to be your future customers!
The primary metric of influencer marketing success is an influencer’s engagement. The level of engagement determines how many people are paying attention to your campaign. Impressions on a post indicate how many people saw it, whereas engagement indicates how many people are receptive to the message. These people are more likely to convert if they are properly cared for and nurtured.
Influencer Marketing Trends in India
Influencer marketing in India has exploded in recent years, but it’s always evolving, and firms that don’t keep up with the latest trends will struggle. Influencer marketing has taken over every part of the digital marketing landscape. Bear this in mind if you are looking to adopt influencer marketing trends in India.
1) Storytelling approach
Influencer marketing is not limited to product placements.
As outstanding storytellers, influencers are also excellent relays when it comes to telling a brand’s story and highlighting its know-how.
The story is full of meaning, emotions, and values. As a result, it connects brands with their target audience and embeds their message in consumers’ minds.
According to Jennifer Aaker, a marketing professor at Stanford University, stories are “22 times more memorable” than raw facts. A great reason to stage your company and tell your products’ stories through the words of skilled storytellers.
2) Video content
Any influencer who is active on YouTube, Instagram, TikTok, or any other social media platform as part of sponsored content can create an influencer video.
The creative side of the business is controlled by influencers, who keep in mind their own relatability and authenticity with the audience, as well as the brand image of the company with which they are working.
There is an ongoing debate about investing in branded video content, with some arguing that it is far more expensive than it is worth. Consider how much money you are spending on social media ads and sponsored posts, and then compare the impact of those ads to the video marketing done by social media influencers.
Micro-influencers are essentially what they sound like. They are hyper-specific influencers with fewer followers in a specific niche. They have highly engaged audiences but a small (under 25k) follower base. They frequently have very engaged audiences. As a result, micro-influencers are having more conversations about buying recommendations.
At the same time, they have more authority when it comes to driving actual conversions.
Think again if you believe you need millions of followers to grow your brand. It’s time to stop losing money on high-priced influencers who aren’t driving engagement or traffic.
Best Influencer Marketing Examples
However, there are various types of marketing campaigns that range on different scales. While some are meant to make your brand name recognised by a larger audience, others are used to offer a specific service or inform current consumers about product upgrades.
Influencer marketing has made a big splash in recent years – both positively and negatively. Some brands have had tremendous success with campaigns, while others avoid the practice entirely.
Regardless of disagreements, influencer marketing has long been praised as the channel with the highest ROI. It’s one of the main reasons why many marketers continue to pursue this novel approach to increasing awareness and engagement.
So, which brands have found success through influencer marketing? Let’s take a look at some of our time’s best and brightest campaigns.
1. Taco Bell – #MakePotatoGreatAgain
Tanmay Bhatt and Taco Bell launched #MakePotatoGreatAgain to introduce Crispy Potato, a combination of Potato and Taco.
Sambit Dash, Taco Bell’s Head of Marketing mentioned that Taco Bell only has 17 stores in urban areas, according to the brands, and the Taco Bell audience is defined as millennials.
Tanmay Bhatt shared short clips laced with his sense of humor.
Craftsvilla, as one of India’s premium fashion brands, wanted to instill in its customers the idea that fashion overrides labels and that it is important not to judge people based on their shape, size, color, ethnicity, or profession.
Craftsvilla decided to collaborate with 20 of India’s leading female influencers to promote this concept. The content created by a few influencers, including Sonam, Nitibha Kaul, and Mansi Zaveri, received a massive amount of reach and engagement.
3. Bigmuscles Nutrition
Fitness brands are plentiful in India’s influencer marketing industry, just as they are in fashion and lifestyle. In India, the fitness industry is heavily reliant on Instagram influencers. Bigmuscles Nutrition recently teamed up with Ranveer Singh to launch Frotien, a line of new supplement products.
Ready to start your first influencer marketing campaign today?
Congrats! You’ve now successfully grasped how to strategize your influencer marketing campaign. We’re not done yet; there’s a lot more to learn about influencer marketing, and we’ve divided it up into sections to make it easier for you. The following phase would be to learn the different Types Of Influencer Marketing Campaigns.
Despite its growing popularity, influencer marketing remains an underutilized channel and will remain an important marketing strategy in businesses for many years to come.
Now that you’ve learned everything there is to know about influencer marketing, launch your first campaign right away. It may take some trial and error to figure out what works best for your brand, but in the end, you’ll discover that a solid influencer marketing strategy is one of the most powerful marketing strategies for quickly tapping into new audiences and generating quality customers.