Beginner’s Guide to Influencer Marketing
Social media marketing is so big these days that it’s one of the best strategies for driving eCommerce sales. Creating a page, and driving traffic to it with engaging content is a great start. Try using explainer videos, as a part of video marketing, among other content because they boost your social media presence. But this alone isn’t enough. You have to engage in influencer marketing and leverage the power of influencers to make the most out of social media. Here’s everything you have to know about the topic.
Who Are Social Influencers and Why Are They Important for Influencer Marketing
Influencers are people who have some influence on social media, most often on Instagram. They know a lot about the topic they’re creating content on, and their followers value their opinion. We trust influencers as much as our friends, which makes influencer marketing one of the most efficient ways to get exposure on the internet.
If you don’t believe this fact, here’s a thought experiment. Would you rather buy a product if you saw an ad or if the business blogger you read every day recommended it? You probably would go with the latter, and so would many others. This is why Influencer marketing is the fastest growing marketing channel.
The best thing about influencer marketing is that it doesn’t cost that much. According to the same Tomoson study, 70% of businesses make over $2 per one dollar spent on this marketing channel. The average revenue from influencer marketing is $6.5 per $1 of the marketing budget.
The top 13% of the companies using influencer marketing are making $20 or more on each dollar spent. Here’s how to make it to that list.
Influencer Marketing – How to Choose the Right Influencer
The quick way of getting a list of influencers who are right for you is by using special software to find them. Apps like HypeAuditor, Social Crawlytics, or Crowdfire will let you find dozens of influencers who are interested in working with your brand.
If you don’t want to pay for a subscription, you can do a manual search to find the right influencers. It will take you a bit of time because you’ll have to look through at least 50 profiles before finding the right one. Instagram search doesn’t allow you to filter results by the number of subscribers, so that’s going to be a long process.
Here’s what your ideal influencer profile should look like:
- Over 5,000 subscribers
- Posts at least twice a week
- Talks to their subscribers in the comments
- Posts product reviews (optional)
Subscriber Count in Influencer Marketing
If you’re new to influencer marketing, you may be surprised by such a low requirement for the number of subscribers. It’s true that the bigger the number of subscribers is, the more exposure you get during the campaign. But that’s not to say you should hire celebrities to market your products.
A page like this would charge you an insane amount of money for the post, but the ad would have little success.
An influencer with a similar number of subscribers may charge even more. The choice of influencer should depend on your goal, not on their subscriber count.
If your goal is exposing your brand to the maximum number of people, then you should definitely partner up with a celebrity influencer. If you want to get a certain number of sales on a budget, you may be better off hiring more influencers with a low subscriber count.
Influencers with 5000-20000 subscribers will not charge you more than $200 a post on average. The ones on the lower end of the spectrum may even be up for promotion in exchange for your products. This means you’re getting exposure and sales practically free.
Gather enough micro-influencers, and you’ll be able to cover just as big an audience that you could with one celebrity influencer. You’ll pay less money to do that.
Engagement Rate in Influencer Marketing
The thing you should be looking for is not the subscriber count, but the engagement rate. If an influencer you’re looking at is actively responding to comments on their posts this is good for them. It’s good for you as well.
This means two things. First, they have a great communication with their followers, and the followers trust them. Instagram is all about bringing people together, and nobody likes an influencer who just posts and stays silent.
But that’s not the best part about it. The best part is that Instagram algorithms prioritize posts with a lot of comments in users’ feeds. A post that has more comments than the average has better chances of showing up.
This is crucial since you need the maximum number of people to see the sponsored post in their feeds. A high number of comments may also work as social proof.
Structure of Influencers’ Accounts
During the preparation for an influencer marketing campaign, you’ll look through hundreds of accounts and contact dozens. Make it easier for you, and compile a list of people you think are qualified to be your partners.
This will help you keep track of your activities and make sure you don’t miss an account by accident.
How to Work with Influencers in Influencer Marketing
Your work doesn’t stop there. Here’s how to work with an influencer, from outreach to tracking results.
Reach Out to Social Influencer
Open the list of influencers, and take your smartphone. Contact them in the DMs one by one, and make your offer.
If the influencer has posted sponsored posts before or state you can contact them for partnership, you can be rather straightforward with your offer. If they haven’t posted a promotion yet, you may have to convince them to make you their first sponsor.
Don’t be too pushy, though. Start by telling them about your product a bit and complimenting their work. Then, ask if they’re open to promoting the product and discuss the payment options.
Decide on Payment Model in Influencer Marketing
Once you’ve contacted an influencer, and they’re ready to be a part of your campaign, it’s time to figure out how are you paying them. Some smaller influencers may be willing to promote you only for getting a free product.
However, studies find that the CPE or CPC model is the best when it comes to influencer marketing.
It motivates the influencer to design their post in a way that generates the most sales.
Co-create Posts with Social Influencers
“Managing an influencer campaign is tricky because you can’t control everything.” – says Michael Green, Head of Marketing at Pro essay writer company. “There are things that you can control like the brand image you want to create and your special offer. Once your employees take care of that, you’ll have to trust the influencer to do the rest unsupervised.”
That’s one of the most difficult things to come to terms with for people who have to control everything. Only the influencer can know their audience well enough to create a post that won’t come off as a cheap native ad.
A good influencer who cares about your product and their subscribers will create content that covers subscribers’ pain points and talks about what’s important to them. That’s the difference between showing an ad and genuinely recommending a product. That’s the difference that’s going to make or break your influencer marketing campaign.
Choose the influencers you can trust in creating that type of posts, and your campaign is going to be a success.
You may have to put some work from your side as well. Pay for a photoshoot or help them create a great post otherwise. You can also add a special deal, a discount or a gift that only this influencer’s subscribers will receive. This will motivate people to come over and make a purchase and serve as a way of tracking the number of customers generated by each influencer.
Track Success of Influencer Marketing
There are two main ways of tracking the amount of traffic and sales each influencer brings. The first one is issuing a coupon or code that users can enter on your website to get a discount. It’s good for measuring sales but doesn’t do more than that.
If you need a deeper insight into what kind of traffic is coming over from each influencer, give each a link with a unique tracking code. This will help you see their behavior on the website.
The information you receive while tracking results will help you change your campaign to be more effective.
Work on Customer Retention
Don’t forget to work on customer retention once the campaign starts showing results. If you make sure the people who come over for the influencer stay for the product, you’re getting a lot more value from your efforts than just one sale. Remember to use customer engagement tools to know your clients’ opinions.
Influencer Marketing – Wrap Up
Influencer marketing can be a gold mine if used correctly. Choose to work with the influencers who know their niche and their subscriber base. Pay them handsomely and make sure they create original content that gets a lot of engagements. Then, convert leads you’ve generated to your fans for increased LTV.