Influencer Marketing Strategy to Grow your Business | OptimusFox

How to design an Effective Influencer Marketing Strategy to Grow your Business

Posted On  October 13, 2020 in  

by OptimusFox

How to design an effective influencer marketing strategy to grow your business

The sphere of influencer marketing was related to dedicated bloggers and celebrities in the past. Now, influencers are on the rise and flood the market. You may find confusing information about influencers from different sources. As a result, you do not have a clear idea whether it can help you or not. This post is going to tell you everything about it.

What is influencer marketing?

Basically, it is a type of social media marketing that includes endorsements and product mentions from influencers. The individuals who have dedicated social media followers are influencers. People view them as experts within their niche. This type of marketing works due to the large amount of trust that people have in influencers. Moreover, their recommendations act as a source of social proof to your brand’s potential customers.

How to develop influencer marketing strategy

Like any marketing technique, an influencer program takes intentional targeting and careful planning. You cannot achieve success by giving free things to your friends. Therefore, it requires certain steps that you need to follow to be successful.

1. How to search and pay social media influencers

Like every strategy, research is the first step. Choose the platform you want to focus on in the beginning. You can always work on other networks later but if you are a beginner, stay with one. In the perfect world, your brand should already have a presence on this platform. However, demographics are different on each network.

The industry also matters when you’re planning to devise a strategy of using influencers. Beauty and fashion industry prefer Instagram and YouTube. Research plays the main role and you will find yourself returning to it frequently in the process.

2. Decide a budget and management strategy

Finalizing a budget is the second important step you need to take. You need to be sure about planning, executing and reviewing your strategy. Executing a successful influencer marketing campaign is not a single step game. It contains careful planning and tracking performance.

Unlike automated ad strategy, influencers are humans and they can forget the commitments while balancing multiple partnerships. Similarly, they can make errors while posting content on social media. You need to produce an excellent relationship with the influencer. Also, you should work on things that are suitable for your niche. 

3. Decide on goals and message

The two common reasons for using influencers for marketing are to augment brand awareness and boost sales. However, instead of setting these targets as your primary goals, it will be more effective to start working on your strategy according to the brand’s requirements. Perhaps you want to engage a younger customer base. Or you want to expand into a new target market with a new product. Or you want to ignore trends and use influencers to discuss your brand values.

Influencers know how to carefully reach very specific audiences. Instead of relying on your followers, influencers will help you target a specific audience. As a result, the audience will show interest in your product and engage with your content.

4. Find your influencer and talk to them

Coming back to step one which is research. In this step, you need to find the influencers that can help you. Researching the influencers requires proper planning according to your needs. You cannot take any risk in this process. Therefore, you will select the influencer that suits your niche and target specific audiences for your brand.

While doing this research, remember the following:

  • Does the influencer already talk about things related to your service? For instance, if you’re a restaurant and want to promote food, you should find influencers who regularly post about different restaurants.
  • Are they legal? This means scrolling through their feed and checking their posts. A poor engagement ratio to follower count and fake comments show that it is a fraudulent account.
  • Are they previously working with similar brands? An experienced influencer can show you a portfolio of their work. Similarly, the greater your investment is, the more you want from them.

Twitter analytics tools is also a way to determine potential influencers that will suit your campaigns. Lastly, find how you will be reaching out to them. Also, you can find micro influencers by sending a private message on the same platform. For getting established ones, go through their profile and find contact information for business inquiries in their bio.

5. Review and alter your strategy

You should measure the progress of influencer strategy. However, all campaigns are not necessarily successful but hopefully, you will learn with each one you prepare.

Conclusion

Influencers are here to stay but the way influencer marketing works has changed a lot in a short time. And, it will be very different in the next five years. This guide will help you begin with building your strategy. However, like any social strategy it is important to be ready to accept change.

While there are some unique points in working with influencers, building a campaign is the same as most marketing campaigns. The steps include research, budgeting, identify goals, and find your influencers and review and revise.

Once streamline the process, you might find yourself creating additional influencer campaigns. Success varies among brands so never give up if your first attempt is a failure. Introducing influencers into your marketing strategy is extremely beneficial to everyone.