Considerations when starting an effective influencer marketing campaign
It’s hardly a surprise considering the thriving array of internet stars nowadays that influencer marketing has taken off and become quite a hot topic in the world of marketing. With the power to promote a brand with a single Instagram post or story to a multitude of fans, influencer marketing is both a powerful and complex game.
When we think of ‘influencers’ we naturally think of famous personalities, such as Kylie Jenner, Selena Gomez and Ariana Grande. Those who have been around since influencer marketing first became the “in thing.” Now, this world has expanded and evolved into a wider pool of people and has altered how influencers market the brands themselves.
Nearly 65% of marketers are reportedly outlining ways to increase their influencer marketing budgets this year. With Estee Lauder’s president and chief executive officer, Fabrizio Freda, leading the way by allocating a mammoth 75% of investment into digital influencers. This has the potential to be a great avenue for Estee Lauder, as it owns multiple skincare, hair and makeup brands; making it a perfect domain for influencers for Youtube beauty and makeup tutorials and Instagram posts.
According to Instagram, 68% of its regular users visit the platform specifically to interact with creators, while the platform boasts a reported engagement rate of 2.2%, trumping other platforms like Facebook.
So what exactly makes someone an influencer?
Well, an influencer is someone who has the power to affect the purchase decisions of others because of their authority, knowledge, position or relationship with their following. Usually, this influencer will have a particular niche, usually beauty, gaming or fashion, that they actively engage with.
There are many different types of influencers, these include celebrities, bloggers and content creators, micro-influencers and industry experts.
Why brands rely on influencer marketing?
Well, it’s a no-brainer really, influencers generate sales, which is why this type of marketing has become so favourable over the past few years. Depending on the influencer’s channel and campaign length, sales can be generated straight away or over a few weeks. To top it off, they create their own content, pumping out high-quality engaging content for their vast number of followers.
Things to Consider
- Define objectives
The first step for any successful influencer marketing campaign is to define your objectives as they will help your overall strategy. Some popular objectives usually include generating more brand awareness, increase engagement, make influential customers more loyal or to drive traffic to a website. Depending on what the brand is after will determine the next steps.
- Finding the right influencer
Once you’ve finalised the objective you’re aiming for, the next step is to find relevant influencers to collaborate with. This can be the biggest challenge, to find the right and relevant influencer.
It is crucial to identify an influencer that will be a positive reflection of your brand and morals. You don’t want to put all your resources into using one influencer, to then find out they are being negatively portrayed in the media, causing implications for your brand.
And just because a person has a high number of followers, it’s not necessarily an indication you should team-up. For example, Cristiano Ronaldo may reach millions of people but that doesn’t mean they’re the best partners for you. Consider how they got their following. Given reports of ‘fan’ buying, use a third-party verification source to make sure you’re truly getting what you wanted and it’s being seen by real people. Remember influence is earned not bought.
Some marketers will solely look at the follower numbers to gauge a person, whereas others will look at the engagement of ‘likes’. Meanwhile, other marketers prioritise the average number of comments an influencer’s posts receive as a way of assessing just how influential an individual is.
In most cases, if an influencer has millions of followers it doesn’t always mean they are the right fit for your brand. I’d focus on how well their following interacts with them and how well they will interact with your product. If done well, a follower will see it, then share or tag a friend, accumulating your brands reach, which surely is better than just a lot of people seeing it but not reacting. Therefore a single person can influence others well beyond the initial network of followers or fans who see that person’s content.
Also if you have picked the right influencer and it’s a product or service they are likely to use themselves they will talk about it better and may continue to use after the campaign, in turn generating more sales.
- The cost of influencers
Influencer marketing doesn’t come cheap, but to use a face that’s well-known means the assets are recognisable and followers have an instant positivity opinion on them.
The bigger the influencer, the more they usually cost. Therefore as a brand, a budget needs to be set. If you’re wanting to go for the champions at the top, make sure to find out influencer costs first. If the campaign has a limited budget, create partnerships with a larger number of potential influencers, who may only have moderate influence. It’s still exposure.
If an influencer is relatively new, they might not cost anything, just free samples of the product. Though the lower the cost the likelihood of a lower audience.
Does it work? Well, the facts speak for themselves.
According to statistics:
– 70% of teens trusted influencers more than traditional celebrities.
– 49% of people rely on influencers for product recommendations.
With influencer marketing having such a huge impact on how customers buy everyday ideas, you can’t afford to not even be thinking about your next influencer marketing campaign.