5 Things to Consider When Crafting Your Influencer Marketing Strategyby: Dustin Hawley | Thursday January 9, 2020
It sounds like a broken record at times, but influencer marketing is a highly effective strategy that is much more than just a collection of buzzwords and Millenials selling products for brands on Instagram. A successful influencer marketing strategy helps you increase brand exposure, build authority, and connect with new audiences that drive engagement. In turn, it drives traffic to your site and leads to new customers.
While there are many benefits of influencer marketing, it can be a sometimes confusing and complicated strategy to set up, launch, and manage. This is particularly true for brands that are looking to deploy this marketing tactic for the first time. It’s a time-consuming project. The often tedious groundwork of getting started can lead many marketers to stop before they even get started.
Are you wondering how to implement an influencer marketing campaign? Is your brand looking for a plan to follow? Let's break down 5 key points of consideration when crafting your next influencer marketing strategy - and how to get the most out of your marketing budget and maximize ROI. Let's get started!
1. Nail Down Your Target Audience and The Details of your Desired Messaging
As a brand, you have specific points you want to make in your campaign - and you have a specific target audience to which you wish to deliver these points. Perhaps it's the value that your brands' product or service can bring to consumers, or maybe it's fact that your product is green and is produced entirely from recycled materials.
The point is, you have unique messaging details you want to highlight throughout your campaign. So it's imperative that your influencer understands these points before a single piece of content is created and published. Brands should also look to limit the messaging points they wish to make in their campaign. Identifying your campaign goals in your own mind makes it much easier to clearly define the messaging points you want to make. We suggest limiting your key messaging points to about 3-5 per campaign. Maybe even only one or two on platforms like Instagram.
2. FIND THE RIGHT INFLUENCERS!
Having a clearly defined audience is the foundation of any good marketing campaign. And once you have established what this audience segment looks like, you can finally start seeking out the influencers who will help you reach your marketing goals and connect with your target audience.
There are many types of influencers. Celebrities, Social Media stars, thought leaders, industry leaders, and even some of us bloggers. But which of these archetypes will have the most profound effect on your target audience for your marketing goals? Determining the type of influencer you want to use starts with researching individuals or brands in that particular space.
Influencer marketing platforms can also be helpful when it comes to pinpointing the most desirable influencers for your brands' campaign.
3. Be Mindful of your Platform Mix
Influencer marketing is a multi-faceted tactic. Choosing the right influencer is paramount to the success of a campaign. But your platform mix is also extremely important. Many influencers have multiple accounts on each of the major platforms (Instagram, Facebook, YouTube, Twitter, etc.), so the specific accounts you wish to utilize should be well thought out with how they align with your campaign goals. Communicating which platforms you plan to emphasize is also something that should be communicated to the influencer themselves. This will help to prevent any confusion or misunderstanding on where to focus their efforts.
4. FTC Guidelines Should Always Be Kept Top Of Mind
This is an aspect that is often still overlooked by brands both big and small...but an area where one mistake can prove to be costly. Be certain that both your organization and your influencer understand the newest FTC guidelines about sponsored content. Spell these out in your brief, to ensure all legal requirements are met and there is clarity around the appropriate guidelines.
This brief should contain both a direct reminder of the FTC guidelines and should also include the specific language the influencer must use (and anything they cant use, as well). Generally, when an influencer is receiving any type of compensation for the content they produce (this may include direct payment, but can also include free products or services), the content must be disclosed as “sponsored” or “paid partnership with,” etc. This is not optional.
5. Effectively Allocate Your Influencer Budget
Successful influencer marketing is a byproduct of great budget allocation. Sizing up your budget helps you determine which influencer tiers are best to partner with for a particular campaign or marketing goal. With larger budgets, your brand can achieve the wide reach provided by mega and macro-influencers. For those working with more modest budgets, your brand can assemble a collection of micro-influencers. You can also opt for the middle ground option and go with mid-tier influencers.
When it comes to influencer marketing, investment usually correlates to reach. Prices vary across industries, but many of the mega, macro and mid-tier influencers can command thousands, tens of thousands, sometimes even hundreds of thousands of dollars for a single sponsored post. This is due to their inherent ability to offer a wide impact from a single post.
Micro-influencers, on the other hand, charge far more nominal fees or only require product/service exchange in some cases. Micro-influencers can cost anywhere from twenty bucks to several hundred dollars per post.
In either case, micro, macro, and mid-tier influencers can all be useful for targeting your audience depending upon the goals and budget of your campaign.