Influencer marketing has penetrated deep into the digitized business ecosystem, with an increasing number of companies integrating it into their platforms.
It is not easy to reach to customers through the existing digital marketing strategies, given that 47% of customers on the internet use ad blockers[1] and only 14% of them remember an advertisement.
Amidst this competitive clutter, it is essential to stand out from the crowd. Influencer marketing empowers your company with a more effective online marketing strategy, leveraging your sales and enhancing your reputation.
Influencers and bloggers incorporate social media as one of their most powerful tools for reaching their followers. They socialize with readers, create blogs for them, mentor them while they purchase goods, and keep them tuned to the brand. It is important to keep track of statistics and correctly mold your influencer marketing strategy.
Here are five steps for developing a successful influencer marketing platform.
1) Defining The Objectives Of Your Campaign And KPIs
The success of an influencer marketing campaign depends on your goals. Businesses need to be specific about what they want to accomplish and be consistent in their efforts. Integrating an influencer marketing program will strengthen your business, but you need to focus on the Key Performance Indicators (KPIs) to keep track of your progress.
This is very beneficial when you are assessing your ROI in the long run. Successful influencer marketers adhere to their goals and focus on their strategies.
While most marketers think that celebrity endorsements will increase sales, the truth is that celebrities only influence 3% of customers[2]. This clearly reveals that influencers within the audience can significantly mold their perspectives.
It is important to note that branching out into other areas in the middle of your marketing campaign will not yield much benefit. Remember, influencer marketing is a process and it takes time for the results to show themselves.
2) Determining The Profiles Of Your Ideal Influencers
While determining the profile of your influencer, you need to choose a personality that is connected to the industry. You would also expect the influencer to have authentic social media connections and have an engaged audience.
The tone of the influencer, image, intensity, and style should be relevant to your customers. The voice of the influencer should resonate with the image of your brand. Your target group should find the persona appealing, and the writing style should keep customers engaged.
One of the greatest mistakes businesses tend to make while strategizing is opting for a celebrity with a massive following, without evaluating their connections. In any business, targeting plays a key role in marketing your product.
Your influencer may have millions of connections, but are they connected to your product? The demographics, age groups, and purchasing power of their fans should be assessed while determining your influencer profiles.
3) Choosing A Niche Market
While developing your influencer marketing strategy, it is crucial to choose a niche market, rather than targeting a wide range of customers. Moreover, your influencer should be a familiar name in that particular niche. 70% of teenaged YouTube users rely on the opinions of influencers[3], rather than celebrities.
Hence, you should focus on a particular niche when you plan your strategy. For instance, influencers who specialize in posting video game reviews on YouTube have established connections that you can reach out to, but only if you want to focus on that specific niche. It is always wise to opt for a single market rather than reaching for a star.
Stick to the niche for a little while and see the results. Engagement is one of the most important metrics used in assessing the effects of your influencer marketing strategy.
Remember, micro influencers in a specific niche can be more effective for your brand than bigger influencers who do not focus on any niche in particular.
4) Ensuring Optimum Performance Of Every Service
Your program needs to be equally effective across the areas of function and design. From determining your influencer to formulating the campaign, the entire process should be free of hassles.
While implementing your strategy, you need to keep track on your returns. A successful business must focus on numerous details while formulating and implementing their strategy. Statistics and analytics are gathered and can be used to determine the success of your campaign.
Business leaders are concerned about the extent to which an influencer can help. Around 71% of online customers are more likely to buy a product when it is referred to on social media.
Today, you will come across dozens of potential influencers. They operate on well-known platforms, and come with millions of followers. It is important to evaluate the effect of each influencer on your customer’s preferences.
5) Evaluating Your Outcome
You must now evaluate the outcome of your influencer marketing campaign after executing it. Be consistent with the evaluation process, revisiting every KPI to assess the effectiveness of the campaign.
You can learn from the results obtained from the initial campaigns and implement them in subsequent ones. Businesses need to adapt to market conditions and tweak their inputs accordingly.
For instance, you may find that posting blogs at a particular time is yielding better results, so schedule the campaign at the best time to maximize its impact. Keep improving your program based on the statistics and reports generated through this process.
A statistic revealed that Facebook is the most powerful social media platforms used by influencers, and that Facebook posts influence 19% of online purchase decisions today. Developing a successful influencer marketing platform requires an in-depth understanding of the industry.
Read More: 5 Successful Influencer Marketing Steps to Make More Money
You need to understand that online customers are overloaded with information, coming in from many different channels. With a strategic influencer marketing platform, you can bolster your business and achieve greater success.
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