Influencers serve as an asset to a variety of brands by regularly sharing their personal stories about the products and services offered. When conducted effectively, influencer marketing has the potential to increase your sales, broaden your target audience, and drive traffic to your site. This marketing ventricle boasts some of the highest ROI in the industry. With each dollar invested in influencer marketing, brands have the potential to gain up to $5.78 in return.
The influencer marketing world is vast and looks different for every brand. The term “influencer” refers to any person who holds online authority. These individuals do not necessarily have to have an extremely large following, just a loyal one. Influencer types range from nano-influencers (1K to 10K followers) to macro and mega influencers (500K to 1 million+ followers). Your brand’s needs are specific to your niche and your own social media following; it is imperative to understand the intricacies of the influencer process before signing that contract.
Understand Your Campaign
Your social media campaign is uniquely yours and requires a specific influencer profile to be effective. Different campaigns include contests, guest posting, influencer takeovers, affiliate programs, and discount codes, and brand ambassadors. Influencers tend to have specific criteria for collaborations, so be as upfront as possible. Clearly state the campaign terms in your contract to avoid confusion for both parties.
Look for Likeminded Creators
If you are in the business of goth or festival wear, you likely do not want an influencer with a home decor focus. The wrong influencer pairing feels uncomfortable and can leave both parties feeling dissatisfied. It can be difficult to source influencers if your business is particularly niche. Platforms such as Klear and Creator.co help offset the search by serving as a social platform for influencer campaigns. These types of sites help to connect with influencers that are the right fit for your brand. Keep in mind that it is okay to partner with influencers who are not necessarily deeply rooted in your industry. As long as there is a common interest, you will be able to effectively reach their audience.
When searching for an influencer, it is imperative to analyze their audience engagement. Studies show that the average engagement rate for influencers is between 1-5%. Anything below that range is poor and anything above is excellent. These statistics reveal the activity patterns of the influencer’s following. You want to ensure that their follower numbers are more than just numbers (AKA not bots). Take a look at their social content to observe like count and skim through post comments. Once you see a real account with a real human following, it becomes easier to sniff out the fakes.
Work Towards Long-Term Partnerships
Even if you are seeking influencers for a one-time promotion, it is ideal to consider longevity in the process. Working with influencers long-term helps to build your brand reputation and consistently market your products to their loyal following. Discuss the influencer’s terms and conditions when it comes to maintaining a long-term relationship. Consider regularly gifting products to your influencer in exchange for ongoing content creation. Affiliate marketing is another great method to keep your influencer motivated, with the promise of a percentage in profits earned via their promotions.