How to use Influencer marketing to grow your business

How to use Influencer marketing to grow your business

How to use Influencer marketing to grow your business 1124 708 Meera Shankar
Influencer-marketing-studiotale

One thing which we can all agree with, Social media marketing has changed the way businesses reach out to customers! It has enabled them to reach out a large audience in a short period. Nowadays, a popular component of digital marketing is influencer marketing. In this article, you will learn all about influencer marketing.

👉 What is Influencer Marketing?

Companies today collaborate with influencers to show their work to a target audience. These credible influencers have a significant influence on the audience. Who gain the trust of their audience and have a massive following on social media platforms. This enables them to influence the purchase decisions of consumers.
 
Previously, influencers were the celebs who collaborated with brands to promote their products. Today, influencers could be anyone; A tech expert, grooming expert, athlete, fashion designer, chef or even a blogger. Contrary to the popular notion, influencer marketing is not a new concept.
 
An early example would be in 1890, the Davis Milling Company created a character called Aunt Jemima. She appeared on their product package and advertisements which was a huge success.

aunt-jemimaOver the past few years, influencer marketing has become very popular. For example the collaboration of H&M with influencers Julie Sarinana and Ela Velden. The two women represented the brand in a way that skyrocketed the reach.

 

👉 The growth of Influencer Marketing

influencer-marketing-infographic

  • 92% of marketing professionals have found influencer marketing to be effective.
  • Influencer marketing delivers approximately 11 times better ROI compared to other digital marketing methods.
  • 51% of marketers declare they attracted higher quality customers through influencer marketing campaigns.
  • 22% of marketers claim that influencer marketing is the most cost-effective form of online marketing.
  • Businesses using influencers have a 37% higher customer retention rate.
  • In recent times, marketers have increased the size of their programs. Nearly a quarter of all marketers work with 25-50 influencers per program.
  • 92% of influencers chose Instagram as their most preferred platform, followed by Facebook. A study by Bloglovin corroborates the popularity of Instagram.
  • Videos posted by influencers saw 3 times more views compared to videos by celebrities.
  • 30% of consumers are highly likely to purchase a product recommended by a non-celebrity blogger.
These statistics are pretty convincing, aren’t they? Justifying the popularity of influencer marketing in today’s business scenario. Let’s now discuss how you can go about discovering the right influencers for your business.

 

👉 How to find the right influencers for your brand

The influencer you choose should be relevant to your brand. For example, it would make no sense to hire a popular fitness blogger to promote a fast food joint.

Step 1: Factors to consider when choosing an Influencer

  • 👉Niche: The topics covered by the influencers and its relevance to your brand and products.
  • 🎯Reach: Learn about the reach of the ideal influencer. Research a little on the average number of people your influencer can reach.
  • 👍Engagement Rate: How engaging is your influencer? Likes, comments, and shares do matter. Find out if the influencer can achieve average engagement rate. Stalk your influencer’s post and decide if they will hit the required engagement rate.
  • 🗣Approach: Discuss the approach planned by your influencer. And align the approach with your campaign goals and brand values.

Step 2: Where to find them

Influencer marketing agenciesAn agency that helps in creating and implementing influencer campaigns for brands. They are responsible for organizing and managing campaigns for brands end-to-end. They have a strong network of brands and influencers. Besides, the ability to help you choose the right campaign. A few well-known influencer agencies are Viral Nation, HireInfluence, Mediakix and Carusele

Influencer marketing platformsA software to help brands connect with the influencers, manage campaigns and track their success. They help in creating content, identify the demographics of a target audience and provide performance metrics. They are appropriate for small-scale campaigns and need a higher level of brand involvement. Some well-known names include FameBit, Upfluence, Traackr, and AspireIQ

 

👉 Tips to create a killer influencer campaign

While creating an influencer marketing strategy, it is better to work out the approach and the content with the influencer.

🎯 Set objectives

First, you need to decide the objective of your campaign. It can be the launch of a new product or entering a new product segment. Alternatively, it could be an attempt to increase the sales of a particular product. This is conveyed influencer clearly so that he/she can prepare and a proper strategy can be put in place.

👥 Know your audience

It is essential to define your target audience for your campaign for it to be successful. Creating a persona of your target customer will help you in creating a tailor-made campaign. Creating an influencer persona will also help you understand the qualities to look for in an influencer.

✅ Conduct a Content and Opportunity Audit

It is important to understand the need of your target audience to produce appealing content. It is necessary to conduct a content audit. This depends on campaign aim, budget as well as the target audience. Additionally, you need to decide the social media platforms which will run this campaign. At this stage, it is also important to understand your influencer’s objective in helping you and how your competitors are approaching content marketing?

🎨 Allow creative control

Every influencer has a specific style in creating content. Allow them to use their creative liberty. Keep in mind, the content should not be inconsistent with the influencer’s personal brand. After all, every influencer has earned a dedicated fan base and would not want to lose it.

🔶🔷 Maintain a consistent look, feel, tone and values

You have an influencer on board. The next step is to create content which establishes the tone of your brand. The tone should be consistent and aligned with your brand.

📈 Measure the metrics on video engagement

It is essential to understand the Return on Investment (ROI) of an influencer marketing campaign. Indicators such as traffic, conversions, and leads can be tracked with the help of a set of parameters called UTM parameters. These are shortcodes added to a URL to track website traffic and sources of the traffic. They can be used with tools like Google Analytics to track the performance of social media campaigns. And assess the campaign to check how good you are doing.
 
The focus is to build meaningful relationships with the influencers, rather than looking for a quick payout. Following the steps will help you gain insight into the process. Start looking for the face which will suit your brand, and give it a kickstart.