How to Build an Influencer Marketing Strategy
Influencer marketing is a process in which companies reach out to people with a strong social presence and get them to talk about the company’s products or service on a social platform. Every day, while browsing through your social media accounts, knowingly or unknowingly you come across these influencers. Be it Twitter, YouTube, Blogs or Instagram they are everywhere, and they are changing the marketing scenario one post at a time.
Influencer marketing has proved to be a hit with the crowd as a rapidly growing number of entrepreneurs are associating their brand name with famous social influencers as a part of their marketing strategy. The most benefitted of lot seem to be the new entrepreneurs, who are awaiting a perfect kick-start for their company’s venture. Even the well-established brands are not slacking off when it comes to utilizing the perks of influencer marketing.
For a successful run in the endeavor of reaching out to more consumers, it is indispensable that a full proof influencer marketing strategy is followed by the company. While steps like vigorous planning, research, and public relations are crucial for excelling, the following ways should also be adopted by a company to know how to build an influencer marketing strategy:
How to Build an Influencer Marketing Strategy
Know your product well
Before engaging in the idea of pitching your product to an influencer, learn all the details about your product that the consumers would want to know. It is important that you are aware of what you want the influencer to share with your target audience about your product.
Create goals and Key Performance Indicator (KIP)
Set feasible goals and effective KPIs to weave your marketing strategies around it. Once you set your goals and performance indicators, it will become easier for you to maintain a track of your progress and outcome.
Know your rivals
It is always a good idea to gauge the strengths and weaknesses of a competitor before facing them in the market. Follow the work and strategies of your competitors to be able to decide on the best-suited influencer for you.
Know your demographics
The target Audience is a vital and indispensable part of any marketing strategy. Do thorough research to find out about the target groups of your product and their general likes and dislikes. Once you are able to get the information about their likes, finding out a suitable influencer will not be difficult.
Research the influencers
A number of tools are available online to assist the course of research on influencers with strong social presence. Make use of such search engines to obtain details about their level of engagement, choice of social platform, a merit of content generated over time and audience size before you decide upon your company’s influencer. Do not go overboard while appointing your favorite influencer and stick to your marketing budget.
Developing a professional relationship
Before embarking on a venture with an influencer, it is beneficial to develop a cordial impression on them. Get to know them a little before you jump the gun and take them by surprise. Follow their work, learn more about their process and then approach them for business. Avoid bothering them via messages and emails, instead, try to get an appointment and present the business proposal before them in a very professional manner.
Brief your expectation
It is always a good idea to discuss each other’s expectation before kick-starting a new collaboration to discharge the rise of creative differences in the future. Once the choice of your influencer agrees to your proposal of promoting your company’s brand, brief them about your expectations on the collaboration. Tell them how you would like your product to be perceived by the target community. Suggest your ideas and listen to their suggestions as well.
Trust and respect
Trust and respect are the foundation of having any strong and successful relationship. Once you have the attention of the desired influencer, tell them, why you deem them perfect for promoting your product and also brief them about your product’s objective. The influencer would be successful in reaching to your target audience, only if they have trust in your brand.
Monitor your visibility goals and Key performance indicators
While engaging in a new marketing strategy, it becomes crucial that you continuously monitor the results from influencer actions to be sure that your endeavors are paying off and you are getting the desired return on your investment. Pay close attention to the referral traffic, cost per engagement and other KPIs that affect your overall visibility to track its effectiveness.
Besides planning and executing each strategy, maintaining a good rapport with your past influencers is also important to have a foolproof influencer marketing strategy for all your present and future endeavors.
Also published on Medium.