Influencer Marketing for Beginners
A decade ago, if someone said that anybody can be an influencer, we would have laughed it off. That’s because Influencer marketing was always restricted to celebrities. Now, with an increase in the number of social media users and online content creators, social media influencer marketing is at an all-time rise.
What is influencer marketing?
Although Influencer marketing may seem like just another trend, it has rapidly expanded and evolved in recent years. Simply put, influencer marketing is a kind of social media marketing that uses endorsements and product mentions from influencers. They are individuals who have a sizable social following and are viewed as experts within their niche.
One would be surprised to know that 68% of marketers are planning to increase their influencer marketing spend in 2022. As per the Benchmark Report 2022 by The Influencer Marketing Hub, Influencer marketing related services grew by 26% in 2021. More than 75% of brands intend to dedicate a budget for influencer marketing.
This is not limited to the large players but also includes medium and small-scale businesses.
How to start influencer marketing for your brand?
Like any other marketing strategy, influencer marketing also needs thorough planning and execution for it to be a successful marketing investment. Let us help you understand how your brand can get started with influencer marketing.
- Choose an approach : in-house or outsource : Before one dives into the vast ocean of influencer marketing, it is very important to determine if the decided strategies and goals can be met in-house or needs to be outsourced. Here are some factors to consider while making this decision. Does your brand have a dedicated team of individuals who can carry out the macro and micro-influencer marketing campaigns in-house? Do you have sufficient budget to hire external professionals to work with your internal team? Or would it be more effective to outsource the entire activity to a specialised agency?
Therefore, various factors like budget, resources, subject knowledge, etc need to be considered before making a decision to carry out the campaigns in-house or to outsource them.
- Set the influencer marketing budget : Based on the number of influencers, the kind of influencers, and the campaign objectives, an influencer marketing budget needs to be set. You may decide to work together on a barter basis or pay the influencer a specific agreed-upon sum depending on the type of agreement you have in place with them. A barter collaboration would entail providing your brand’s product or service to the influencer in exchange for the set deliverables of the campaign. Similarly, a paid campaign would involve remunerating the influencer monetarily as well after the campaign requirements are met. Different influencers will have different charges based on the years of experience, the number of followers, amount of engagement, reach and traction that they bring in.
- Device a management strategy : It’s always helpful to have an agreement or terms and conditions in place. This will ensure that everyone is on the same page and avoid uncomfortable situations pertaining to the quality of content and commitment to the deliverables This is also a great way to make sure that the influencer and their content are aligned with your brand’s tone and personality which must be clearly communicated. Finally, always touch base with the influencer and focus on building a lasting relationship for the best outcome.
- Decide on the goals to be achieved : Let’s say that the objective of your brand is to increase sales and brand awareness. Instead of focusing on both goals at once with the same set of influencers, each goal can be met with different influencers based on their strengths. Most importantly, it is essential to know the need of the hour for the brand – whether the brand wants to focus on increasing the customer base for a particular demographic or get more traction by following trends.
- Find the right set of influencers : It is essential for a brand to be clear about the kind of influencers that they want to associate with to ensure that the brand image and value aren’t tampered with. It is important that a brand has a mix of various macro and micro-influencers alongside celebrities.For example, celebrities and macro influencers can be targeted to increase brand awareness since they bring in a wide variety of audiences and masses. Likewise, micro-influencers can be onboarded to increase sales. It is reported that micro-influencers have a better ability to make conversions as they have a very exclusive and connected network.Also, it is necessary to categorise influencers based on their niche. For example, a restaurant can have a ratio of 80:20 where 80% of influencers can be food bloggers whereas the remaining 20% can be lifestyle or fashion-related influencers to ensure that the brand is being exposed to a variety of audiences.
- Influencer outreach : Keeping in mind the above pointers, you must reach out to the right set of influencers based on the campaign objectives. Micro-influencers can usually be contacted through messages on social media while the macro influencers can be contacted through their managing teams. However, make it a point to be very transparent about the kind of content that is expected and the timeline of the delivery. All the terms and conditions agreed upon must be properly documented in writing to avoid any conflicts or miscommunication.
- Follow up and review the campaigns : Once an influencer is onboarded, it is crucial to follow up with them to ensure that the given timelines and deliverables are met. Though the brand should review the content to set the seal on the brand guidelines, the originality and creativity of the content creator should not be restricted or limited.Further, it is also very important to ensure that the objectives of the campaign are met. For example, if the idea of a brand was to increase brand visibility and reach through macro influencers and social media celebrities then that metric needs to be measured. In case the campaign carried out doesn’t meet the goals set, a review must be done to understand what didn’t work and what improvements can be done. You may have to make some difficult decisions at this point. But, it’s necessary to make the required changes based on the insights gained.
These are some basic pointers that need to be considered to start off with influencer marketing. While there are many more unique and technical considerations that need to be made, we at Infinite media are here to help you get started with your influencer marketing needs with our thoroughly devised campaigns that are brand specific and brand objectives. Reach out to us to know more!