Earlier some bloggers and the celebrities were taking benefits of influencer marketing. But now a rise in the number of social media influencers has been seen. How will you define influencer marketing? Here the individuals known as influencers mention or endorse products in their niche. The social following of these people is very high. The followers of social influencers have a lot of trust in them and this helps in working of influencer marketing. A very good platform for influencer marketing is Instagram. By 2025, $24.1 billion will be the net worth of this industry. Now I am going to tell you how to use influencers to market your business.
What are the ways to build an influencer marketing strategy?
1. Find influencers and pay them – The first step is researching. Select the platform of your interest. Stick with one platform only if you are a beginner. For expanding it to different platforms you have to wait for a definite period of time. You may take interest in expanding it if on this network your brand is present for quite some time. For identifying at which place the audience is discussing your brand, take the help of social listening. This will help you in deciding where to start. On various platforms the voices that are most influential can be easily identified with this. According to the results published by Influence.co in 2017, for a single Instagram post, the average costs are as follows:
For a single post, $271 was the overall average cost.
Sometimes there are less than 1000 followers for some influencers. These are known as micro-influencers. For a single post, $83 was the micro-influencers’ average price.
If there are greater than 100000 followers for some influencers then for a single post, $763 was their average price.
2. Develop a strategy for budget and management – Setting a budget becomes necessary after you know how much you have to pay to the influencers. In order to plan, execute and review the influencer program you need to spend a considerable period of time. The strategy of an influencer marketing campaign can be successful if you monitor it carefully.
3. Set your goals – Increasing sales and elevating brand awareness are the influencer marketing’s two basic reasons. But don’t set these 2 reasons as your goals. As per the needs of your brand, give your strategy a very good start. Sometimes with a younger demographic you may take interest in growing the customer base. You may also take interest in a new group of users having a different item. Reaching the audiences of a specific type is very easy for influencers. As a result of this you don’t have to rely on a large number of followers. You just need to take the help of an influencer.
4. Contact the influencers – For finding good influencers you need to do some research and at the time of researching keep the following things in mind:
Is he posting for the similar products that your company offers? As an example, if you are a car dealer and you take interest in promoting a new car then search for an influencer who is posting about different types of cars.
Is he legit? See his posts. Check if instead of having so many followers he has a poor engagement. His account can be fraud if he receives spam comments.
Does he have a working knowledge of brands similar to yours? Check his portfolio to see his experience.
Now, how will you contact these people? You can send a private message to micro influencers. Go to the contact details of those who are well established.
5. Review the strategy – It is necessary to measure the progress of your influencer marketing from time to time.
How will you track your campaigns of influencer marketing?
In order to measure your campaign’s success, you can use a number of ways. For tracking an influencer, use #SproutPartner which is a hashtag and it is very easy to create this. If something has been discussed about a particular hashtag then you can see it very easily with the help of Sprout Smart Inbox.
If you run an online business and you take interest in growing it and generating qualified leads then it will be good for you to contact a digital marketing company. It will also offer you those advertising solutions that are goal-oriented.