Your Perfect Guide To Influencer Marketing
A recent survey by influencer marketing platform Zefmo, titled India Influence Report 2018, says that this year nearly 92% marketers will turn to influencer marketing campaigns. “The popularity of influencer marketing to drive brand awareness and reputation can be gauged by the insight that 89% of marketers have found the medium to be effective and 62% are planning to increase their budgetary allocation towards engaging social influencers,” the survey stated.
So what really is Influencer marketing all about? Let’s find out.
A few years ago you would have never imagined that Kylie Jenner, a 20 year old American socialite, would be heading a cosmetics company that has achieved retail sales of US$420 million.
Ever wondered the secret behind this success?
Well! It’s the influence that Kylie Jenner possesses. Here she recommends something and within seconds the girls go crazy about it. The name literally sells. This is just a snippet of the glory of Influencer Marketing.
Influencer marketing is a category of marketing that centers on making use of key leaders in the online world to make your brand’s message reach the larger market. So instead of marketing directly to a large group of consumers, you reach the influencer to reach your target market.
Social media marketing and content marketing are two essential components of influencer marketing. Most of the influencer campaigns significantly have a social media component and thus influencers are expected to spread the word through their personal social channels. And on the other hand some of the influencers use content element in which either you create content for the influencers, or they create the content themselves. But don’t you confuse them as influencer marketing; they are quite often the component of influencer marketing.
Not all are same!!!!
Now as we have established that how effective is influencer marketing, its time to switch our gears to other significant factors that contribute in deciding what kind of influencer is a perfect fit for your brand.
At a very fundamental level there are primarily two types of influencer – Micro and Macro Influencer.
Types of Influencers:
Talking about the domain of macro sphere of digital influencers, the topmost influencers possess millions of followers across diverse social media platform and are often considered celebrity figures. Now the prime question is – how does your brand benefit from them? Well, these influencers leverage your brand’s image and product’s outreach with instantaneous and massive amount of reach.
The next category is micro influencers. These have smaller following (around 10, 000 – 90, 000). Now if you judge in terms of followership, they might appear less influencing. But in reality they offer more trustability and creditability in comparison to macro influencers.
A primary benefit your brand attains is the personal nature of the account. In addition, their content is a lot more focused on garnering greater engagement.
In fact, according to a recent Ad Age study, Instagram accounts with less than 1,000 followers have a “like” rate of approximately 8%, while accounts with 1,000 to 10,000 followers have a rate of 4%.
So along with getting a higher ROI, you also save your bucks as their budget is also low in comparison to macro influencers.
But the undeniable fact is that both the category of influencers offers their own set of advantages. Ultimately, the kind of influencer you choose depends upon the objective of the campaign, the target audience, the project and the budget.
Metrics to consider while choosing an Influencer
- Conduct Influencer Research
In the digital age, there are endless numbers of Influencers. But in this pool of influencers, how will you find the right partner for your brand? Yes, it might seem more difficult than finding a life partner but don’t you worry, The Hustler Collective got you covered.
We bring to you various tools you can use to find a perfect match for your brands.
– Run the usual keyword or hashtag search on multiple social media. After that check out the top accounts and top posts that pops up in the search results. And there you go!!!!
– You can even use Instagram analytics tool like Owlmetrics to see which hashtags drive the most engagement.
Other tools like Buzz Sumo, influence.co etc. can also be used which we will cover in the last part of the blog.
Why later? Well trust us your patience would be worth it!
- Check the relevancy
The market which you’re targeting, the influencer you choose must be an expert in that field. The reason is obvious. The followership, the person has would act as the target audience.
The Indian YouTube star “Van chef Sanjay Thumma” would be your choice if you are launching a new brand of some new spices in India. As, you will instantaneously connect with the home cooks who follow him for his delicious recipes.
- Check the Engagements Retained
Oftentimes marketers make an error of choosing the followership of an influencer over its engagement rate.
But in reality, engagement is the most vital component to take note of when choosing an influencer. For an active conversion rate you need to make sure, the engagement is quite high.
Here, we bring to you the magical formula for calculating influencer engagement rate
“Their average number of (Likes + Comments + Shares) divided by number of followers”
For example, let’s say an influencer with 1,000 followers gets an average of 500 likes, 100 comments, and 50 shares for each post. In this case, their engagement rate would be:
(500+100+50)/1000 = 0.65.”
So, do engage when you influence!!!
How to set up Your Influencer Strategy?
– Identify your demographics and Niches
Get proper insight on what exactly are you targeting i.e. the category you are looking at. Is it food, travel, fashion, lifestyle etc.?
After this you need to make two lists. In the first list, identify the age group, likes, dislikes, demographics, language of your targeted audience.
In the second list identify the influencers that have synergy with the characteristics of your targeted audience.
After the lists are generated, immerse yourself in looking at the previous works of shortlisted influencers. Check out all their social assets. The idea is to understand who they are so that you get to select the match that best fits your brand.
By the end of it, you would have the best suited influencer.
– Create authentic and engaging content
No matter what medium you choose, authenticity of the content is a must! It is essential for marketers and influencers alike. And at the same time it should grab eye balls. In digital media its tough to get this because of limited attention span of the audience.
Thus, some creative element must be incorporated to get attention. The product/service should be promoted in a way that it doesn’t appear fabricated and yet it should convey the message. For this, you could send free samples of your product to influencers or give them free access to your services.
Ex. – Urbanclap’s beauty services have been actively promoted in the same manner through micro influencers
– Add product/service reviews
Influencers are people who are considered as guides in terms of making the right purchase in his/her category. In short people look up-to them. In fact, a Twitter and Annalect study found that almost 40% of Twitter users have made a purchase resulting from an influencer’s tweet.
You can even get it done for free by simply delivering your product or service to the influencer. This will in fact increase the authenticity quotient of the product.
– Offer Giveaways/Conduct Contests
Giveaway contests felicitate assured, immediate and direct engagement. As it offers people a chance to win something, thus they willingly engage.
The best part is that there is no standard way to run a contest and thus you can customize the rules in accordance to your own objective.
When The Body Shop wanted to promote their new range of Fuji Green Tea products in Belgium, they decided to do so through an influencer-promoted contest. With a goal to increase social media engagement, the brand challenged influencers and fans to share their #HealthyMoment on social media. And they could win the complete Fuji Green Tea product line and a mindfulness workshop.
Blogs like BEAUTYMINDED promoted the giveaway contest in posts that featured the product line.
The #HealthyMoment hashtag became a hit on Instagram, and generated 50,000+ likes, according to a 3sixtyfive case study. There was a 200% increase in engagement for the hashtag.
The campaign was executed through Belgian influencers, which increased the engagement in Belgium to 22%.
Overall, the brand was able to reach 225,000 people through this giveaway contest.
– Offer Discounts
To get more conversion rate, you can offer discounts.
Oftentimes, especially in the case of expensive product, one might not directly engage in buying the product. Thus through offering a discount code or a free trial link through influencers you can garner attention
The #BreakforSpring hashtag generated more than 42 million impressions. The virality of the coupon code helped the brand get a return on investment of 8,000%.
If done rightly, Influencer marketing has the power to generate massive ROIs and of course engagement.
Influencer Measurement sites
We reserved this section for later as we really wanted to deep dive into it as the tools are the most vital component of managing your campaign
It provides you several functions that help you measure the success of relationship you create. You’re able to upload influencers you wish to reach out to, add old and new, filter by location or demographic, and get a full look into their influence, plus get in depth numbers that will allow you to make a clear decision on who will be the best fit for your brand.
Onalytica gives you access to influencers across the globe. You are able to gauge who is best suited for your campaign and who would be the most influential in your community for your particular campaign.
In addition, you get to take a look at real time data that will allow you to see the impact of your activity and engage with content creators to see what they feel works best for their audience, and ultimately yours. You get an insight of which influencers are engaging with their audiences, and get a holistic view of who they are building relationships with, so you’re able to build up your campaign to be the best it can be.
- Fashion Monitor
Through Fashion Monitor you’re able to get access thousands upon thousands of content creators at a click of a button. You’re able to connect with influencers who you believe will be perfect for your target audience, as well as plan campaigns in accordance to industry news and events that are shared on a daily basis.
Platforms for Influencer marketing
Though obviously the kind of medium your influencer is active on makes a major difference but here we bring you, what type of marketing tactics would be effective for these mediums.
Now we all know about Twitter wars and competitions. Through marketing on twitter you can unleash the potential of re-tweets and the old school ego baiting.
So if you are looking to build your Twitter page, you must consider developing memes while working alongside an influencer.
This is perhaps one of the most important platforms for an influencer. Instagram is purely about creating effective visual content.
If the influencers will be shown using your product, reviewing it or even talk about it. You will be able to reach directly to your target audience through their loyal followers.
We personally reckon you to work with a bunch of micro influencer for more engagement.
According to polling by Cowen And Company, 71% of Snapchat users are aged between 18 and 29.
So if you are planning to target youth than its quiet an effective method. Businesses have found that the easiest way to use influencer marketing to promote their product is to encourage influencers to tell their brand story in an indirect way. An influencer may be prepared to take photos of him or her using your product and then share these snaps on Snapchat. These come across best if they appear organic and not at all like advertising.
YouTube is by far the most effective type of medium for influencer marketing.
In its annual survey, Variety found teens’ emotional attachment to YouTube stars is as much as seven times greater than that toward a traditional celebrity. Additionally, YouTube stars are considered 17 times more engaging than mainstream stars.
Be strategic in your implementation. Influencers with large subscriber numbers are great if you’re looking for a lot of impressions; however, smaller, up-and-coming influencers can have much more engaged audiences, generate just as much buzz, and are often much more affordable.
With over 100M+ active users and over 2.3 billion page views each month, Pinterest is among the fastest growing social networks today. In addition Pinterest is second only to search when determining purchase intent - 93% of users use Pinterest to plan purchases.
On Pinterest, virality on an influencer’s Pin is not only driven by their follower reach, but engagement driven over time via search results, category feeds and external websites. As a result, where posts on other social networks live and die in followers’ social feeds, Pins live forever in a state discoverability.
Influencer marketing success on Pinterest is not dependent just on the ability of an influencer to reach their followers, but how well that Pin is amplified across search and discovery channels is to be found by the network at large.
It is a difficult to stand out on Facebook as the retention span is low.
But there are always mechanisms to grab eye balls. Use Facebook live, promote it through contests, and make influencers tell a story about your brand. Along with these, incorporate the strategies that we have mentioned earlier.
Personal Web Assets
Here we want to majorly talk about the personal blog sites of the influencer. They can be great mechanisms to garner greater visibility and engagement.
So, make use of the influencer to the fullest potential across various online portals.
Oftentimes the company tends to be a lot more controlling about the content of the influencer. We do understand that you want your content to appear in a certain way but by overdoing it you not only damage the creativity of the person but also their USP and thus the engagement gets affected.
In fact a Julius Works study found that 63% of influencers wouldn’t work with a brand for a second time if the brand had restrictive editorial guidelines.
Discover them from your Audience
Influencers are a hard fish to catch! Well, we don’t consider that true. If you are good at fishing you can pretty much find them in your audience itself.
If your product enjoys popularity in a certain segment of the audience. Research about the audience. There might be a person whom you can use as an influencer
We have personally practiced this and it does work!!!!
Partner in Events
Invitation to participate in an ambassador program, involve in social programs; chats, webinars, IG takeovers, etc. is an important step. Create co-branded content, exclusivity. Remember, you need to give a little more at the start to establish yourself.
Provide Fair Compensation
According to Influence.co, the majority of influencers report that less than 50% of brands offer them monetary compensation.
To establish a strong relationship with influencers right from the start, offer them fair compensation. Consider your budget, and come up with a fair compensation model for influencers before contacting them.
Hope it was a pleasant learning experience for all of you. We at The Hustler collective offer amazing influencer marketing solutions. Contact us and we will make a clutter breaking strategy for you which will level up your promotion game to a new level.