Influencer Marketing-What is it & how to devise its strategy?

Photo by Campaign Creators on Unsplash

Influencer Marketing Decoded

Influencer marketing involves collaborating with popular and relevant influencers in your niche to promote your brand and increase your revenue.

  • social-media marketing
  • content marketing.
Via Smartinsight
  • create engaging content
  • announce giveaways
  • host Q & A sessions, etc.
Via google images

Framing the influencer marketing strategy

Digital marketing pioneer, writer, speaker Ann Handley has said

  • to increase brand exposure
  • drive website traffic
  • build your audience
  • ultimately drive more sales for products and services
Via Social media hat

1. Document Your Goals and Key Performance Indicators.

The first time brands invest in influencer marketing, it can certainly feel like a gamble — one that may or may not ever generate any ROI.

2. How to find influencers and what to pay them

Much like any strategy, research is the first step. Choose the network that one wants to focus on first. One can always expand to other networks later but if you’re just starting out, stick with one. Ideally, the brand should already have a presence on this network or be looking to expand into it. Demographics vary on each network.

Photo by William Iven on Unsplash
  • Are you going for celebrities with massive followings?
  • Micro-influencers with less than 2000 followers?
  • Perhaps something in between in the 5–10k follower range is more your preference.
  • how will you gauge the contributions of influencer posts to your overall marketing goals? One approach might be to compare your expectations for influencers to other firms — look at how you might gauge the budget for a video production firm’s work in creating an ad for you versus an influencer creating a video on an authentic video-driven platform like Hobo.Video for you.

3. Set a budget and management strategy

Now that you have some idea of what to pay influencers, you need to create your budget. Be sure to also factor in time for planning, executing and reviewing your influencer program. Running a successful influencer marketing campaign is not a set-it-and-go type of strategy. It’ll involve careful monitoring and follow up.

Photo by Luke Chesser on Unsplash

4. Decide on goals and message

The two most common reasons for using influencer marketing are

  • to elevate brand awareness
  • Increase in sales.

5. Review and refine your strategy

Even if your influencer marketing campaign is ongoing, you should still have pre-determined dates where you’ll measure its progress. The next part of this guide will go into how to track your results. Not all campaigns are successful but hopefully, you’ll learn with each one you create.

Executive Summary

The digital landscape is shifting rapidly, and those not keeping up are wasting their ad budgets, losing customers, and shrinking their market share.

  • Look closely at true brand enthusiasts.
  • Work on cultivating a rock-solid relationship with them and leave room for them to be the genius creators they are at their core.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Hobo.Video

Hobo.Video

We are on a mission to provide revenue streams to influencers via making an ecosystem of video commerce driven by localised community of generation Z