Social media influencers are driving the whole “Gen Z” with their strong presence all over the internet! Brands these days are leveraging the power of these social media butterflies by using them to promote their product or services. Influencer marketing has become an integral component of any marketing campaign today.
The global influencer marketing industry was valued at USD 6.0 billion in 2020 and is expected to touch USD 24.1 billion by 2025, which shows a compound annual growth rate (CAGR) of 32%! If you are on a hunt for opportunities to grow your business online, influencer marketing could be a killer strategy! But should you choose any random influencer for your campaign? Not really! Then how is one supposed to select influencers for their marketing campaign? Today, in this article, we will be elaborately discussing this very topic for your help.
Before we directly jump into knowing how to strategize influencer marketing campaigns, let us know what influencer marketing is and why it works.
Influencer marketing is not celebrity marketing!
The influencer spends a considerable amount of time to gain an audience that has the same mindset or interest as them or in what they do. They are not superstars with lots of indifferent followers.
How does influencer marketing help?
Influencer marketing helps
- Increase the number of visitors to your website or mobile application.
- Increase followers on your brand’s social media.
- Increase your brand visibility.
- Build trust for your brand.
- Increase the number of customers and eventually revenues!
Is influencer marketing the same as content marketing?
Even if they don’t completely contrast each other, there are many differences between influencer and content marketing. The former is a narrower branch. Brands work with people having a strong online presence and are prominent in their market segment to distribute content. Influencer marketing is more about delivery. Content marketing is a superset of influencer marketing.
How can influencers help your brand marketing?
There are many ways influencers help your brand, and it mostly depends on their genre.
- The influencer can talk about your services or product and share a video form content. You have to make sure to edit it properly using any video maker to make it look more attractive using solid subtitles, transitions, and animations! You or the influencer can then upload this video on social media.
- The influencer can get access to the brand’s social media and perform a live session.
- Also, the influencer can write up a blog or a post mentioning the brand and its products or services!
- The influencer could also post pictures on Instagram, showing them using the products of the brand.
So now that we have an idea about what influencer marketing is and how it benefits a brand, let us jump straight into strategizing the influencer marketing campaigns for your brand.
How to strategize influencer marketing campaigns for your brand
- Choose the right influencer.
This is a very critical step; the whole campaign depends on this. Take your time researching which influencers are talking about similar products or services. There shouldn’t be differences in subjects between the brand and the influencer. You can even ask your followers who have huge followings to act as brand advocates. This will make the marketing even clearer as the influencer has a prior experience with your brand.
- Choose a strategy that will mutually help the brand and the influencer.
Referral marketing, or word of mouth marketing, has been one of the most efficient marketing strategies. Suppose you find a great solution to any problem you have been facing for a long time, and you go and tell your friends about it. There is a high chance that they will also try out the product. This is referral marketing.
Influencer marketing follows the same model but on a larger scale. Influencers tell their fans about your product to get them interested in buying it. Here, as a brand, you can give a special discount coupon to the influencer’s audience that will not only show the conversion rate but also to know how effective the campaign went.
There are several ways in which you can compensate the influencer:
- Cash: Maximum of the influencers will prefer cash as the mode of compensation. This is the most common form of compensation, and this varies from influencer to influencer. Before making the complete payment, make sure that the person you are paying is worth the trust, and they can put their everything into the project, or they might run away after taking the cash. You might want to have a legal contract in place before making a deal.
- Free products or discounts: Why not offer some free stuff or give huge discounts in return for shout-outs? In return, the influencer will tell their audience about the product and use it in their everyday life—an all apparently organic promotion.
- Commission: If all the commission policies are made fair and with a structure, this could be the best policy to compensate. This is a complete win-win situation; you pay the influencer only when their audience purchases any product!
- Use the appropriate social media platform.
Every influencer has a social media platform upon which they focus the most. Before you end up hiring any influencer for your campaign, research your potential customers. If your target audience is the “Gen Z,” prefer TikTok and Instagram. If you target a wider audience, prefer YouTube and Facebook. And most importantly, if you want to spread information through video content, make sure to edit the videos properly through any video maker, as nobody enjoys bland videos! In fact, choosing an appropriate social media platform and showing the right content plays a very intrusive role in the overall performance of the campaign!.
Despite such a social media boom and a high rise in popularity, influencer marketing is one of the most underused marketing channels. But this is going to remain one of the most important marketing strategies for years to come.
Now, since you know everything about how to get started with influencer marketing, what’s the wait for? Get started with your first campaign today! It takes a lot of trial and error to find what works for your brand and what doesn’t work. Just keep the said points in mind, and you are good to go.