The main focus of influencer marketing is to use external influencers or content creators to communicate on behalf of your brand. In this form of marketing, influencers showcase content to their audience, helping increase awareness for your brand while converting their audience into your valuable customers.
Picking the right influencer
Your influencer marketing campaign can become successful if you can find the right influencer to work with.
First, find out where your target audience hangs out on social media. For example, if you sell tennis racquets, find out which sports personalities are popular with your target audience. And pick an influencer that suits your budget and business style.
Here are some questions you should ask before finalizing a competitor:
- What type of content does the influencer publish? Does it suit your business?
- Does the influencer promote your competitors?
- Does the competitor have high engagement rates?
Here are the 5 types of influencers to choose from:
- Mega-influencers: They have a million+ followers and are likely to be celebrities.
- Macro-influencers: They have a follower count that ranks between 500K and 1 million.
- Mid-tier influencers: They have a follower count that ranks between 50K and 500K.
- Micro-influencers: They have a follower count that ranks between 10K and 50K.
- Nano-influencers: They have a follower count that ranks between 1K and 10K.
Choose an influencer with a highly engaged audience that meets your target audience’s preferences, instead of going for influencers with large follower counts.
While mega-influencers offer maximum reach, their engagement rates are quite low. On the other hand, influencers with considerably lower reach have a high level of engagement with followers. This is why businesses often choose micro-influencers and nano-influencers to promote their business.
Each platform – whether it’s Facebook, Snapchat, Twitter, YouTube, Instagram, or TikTok – has its own group of influencers that cater to different demographics.
Paying the right price
The category of influencer you opt for will determine the costing you will incur. Influencers with a large follower count will require a significant compensation. Most popular influencers have an agency or assistant you will have to talk to before approaching them.
You should consider the expected ROI of the influencer marketing campaign. Compare the cost you would incur when a video creation firm prepares an ad for you against how much it
will cost when an influencer creates a video. The average price for a post by a micro-influencer tends to hover around the $100 mark. The average pricing for a post by an influencer with 100,000+ followers can be between $800 and $1000.
Set aside a budget for your influencer marketing program. Ensure that you are specific about your goals. Of course, your primary goal is probably to increase awareness and sales. But you will have to dig deeper. Maybe you wish to boost your consumer base among a younger demographic? Or promote a new product? Or maybe you want the influencer to talk about your brand’s values and objectives?
Ensure that you are clear about your goals. Follow up with the influencer to ensure that your goals are cleverly incorporated in his/her messaging. A mutually beneficial relationship is important for the success of your campaign.
To summarize, the success of your influencer marketing campaign depends on the influencer chosen by you, the messaging he broadcasts and the costing incurred by you. Perform thorough research to ensure your next campaign is a success. To begin with, brainstorm with your team and arrive at the goals for your campaign. And then negotiate with the influencer of your choice. All the best and wish you success!