The royalties and loyalties behind effective influencer marketing campaignsOctober 31st, 2017
In this digital age of hand-held interconnectivity and hyper media, every single user of technology around the world has the potential to be the next great communicator. And companies want the influence of these communicators to grow their business. Just take a look at these 25 influencers based in Atlanta.
But is an online influencer worth any price? Will influencer marketing add a significant leap in your ROI? What defines a successful influencer marketing campaign?
Influencer marketing has grown overnight to be a popular strategy for businesses looking to extend the reach of their brands and attract new customers. But it’s not as simple as hiring a celebrity to be a voice for your brand and letting it run on autopilot.
When considering an influencer marketing plan, consider these questions:
What are your goals?
To achieve a strong ROI from a influencer marketing campaign, it’s important to understand which key performance indicators match with the strategy. Scrunch.com offers a few pairings of strategies and goals that can deliver results:
- Brand awareness: This strategy will likely involve giving away a lot of product or services for free to influencers who can promote your business. It may also be worth creating an interactive relationship with potential influencers through exclusive first-look offers or live invitation events.
- Generate sales: If the company’s intent is to inject some adrenalin into profits, then there are several methods to try. Discount codes, for example, give influencers something to share with their followers, thus generating potential consumers. Influencer marketing can also be reinforced with flash sales that are designed to make consumers worry they will miss out on what other followers could receive before anyone else.
- Attract new target market: Invest time, money and effort on buzz builders who can drive specific website traffic and make noise about your brand in the digital space you hope to draw new paying customers.
- Increase social media followers: For example, announce a competition on Instagram that asks followers to use a specific hashtag in their posts related to your brand in order to win a prize. You can additionally promote the competition by telling influencers that they can also enter and then encourage their followers to also enter. By focusing on growing a specific social media platform, your social following will grow as will their interest in your brand.
- Customer retention: If you have built a strong relationship with an influencer, then you’ve potentially built a strong relationship with their followers as well. This transforms your influencer into a brand ambassador who can continue promoting your product, which can lead to repeat purchases.
Who can best represent or endorse your brand?
A positive endorsement of a product by a trusted personality can make a greater impact than even the most beautifully written copy or the most engaging video, according to Convince&Convert. Niche-based communicators could be potential brand ambassadors based on the relevance of their content to your brand, the traffic or new and returning visitors and consistency for posting new and authentic content. If your influencer can use multimedia digital content to extend the loyalty they’ve built with their audiences to your brand or product, then everyone wins.
What defines a “successful” influencer marketing campaign?
“The first step for measuring anything accurately is starting with clear goals,” writes Deep Patel on Forbes.com. If the goal of your campaign is to “gain more followers” or “get more clicks on the website,” then success may be vague. By establishing specific metrics, like “increase sales by 10% each month” or “collect 2,000 new Twitter followers,” there is more opportunity for measureable achievement.
Success isn’t always guaranteed, but investments of time and knowledge in your brand, your audience and your influencers can deliver a lot of promise. As Intuit co-founder Scott Cook infamously stated, “A brand is no longer what we tell the consumer it is – it is what consumers tell each other.”