Strategies To Grow Your Business Through Influencer Marketing.
Updated: Nov 18, 2020
Influencer Marketing is rapidly growing and has become a mainstream form of communication. The growth of Influencer Marketing is huge and it has taken a permanent seat in the proverbial digital marketing table! Despite its effectiveness, Influencer Marketing is still a new concept and many businesses are yet to try their hands out.
The innovation and success of Influencer Marketing is creating trends. It won’t be longer for brands in India to get serious about Influencer Marketing. Over 70% of Indian firms are planning to increase their expenditure on Influencer-led Marketing in 2020. Most businesses are no longer experimental; they rather make strategies that help them meet their ends.
Start with defining your goal
To run a successful Influencer Marketing campaign, one must first define their goals. You need to know WHY you’re carrying out an Influencer Marketing campaign. To measure the success of your campaign you must reach each of your goals to key performance indicators (KPI). Some common goals associated with KPI’s are, increasing brand visibility, increasing product sales, increase in the numbers of website visitors, growth in the number of followers and more.
Choose the right platform
It is important to choose influencers that use the same platform as your target audience. Choose a platform that is popular and mostly used by your target audience. Building a campaign on the wrong platform will reduce your ROI. Doing a thorough research on the right platform is important. You can eliminate room for errors by mapping down details on which platform is mostly used by your audience. This will save you time!
Know your target audience well
The main problem why brand campaigns fail is not knowing which kind of audience they wish to cater their products to. It is impossible to onboard influencers for a campaign if you don’t know whom to influence. Once you know your target audience, keep their persona in mind before choosing an influencer. A campaign will be successful only if you work with influencers that influence your target audience.
Choose the right influencers
Selecting influencers according to the number of their followers is not the solution. Keep in mind you need to choose the best influencers in the market and not the biggest ones. You can group influencers by size and the number of their reach.
● Celebrity Influencers- These influencers usually have at least 1 million followers on social media. Brands select celebrity influencers only if they need to cater to a global audience. These influencers charge a heavy amount of money from brands.
● Macro Influencers- Influencers that are experts in their creating content in their space and can cater to a niche audience are Macro Influencers. They are usually difficult to approach as they tend to be the best in their niche. They work through agents and are relatively expensive.
● Micro Influencers- Influencers with a following range of 10,000 - 1, 00,000 are considered as Micro Influencers. Most Influencer Marketing agencies use these influencers. They know their area of interest well and are most trusted by the audience.
● Nano Influencers- They have followers up to 1,000 - 10,000 and can cater to local audiences well. They either have less experience or no experience with working with brands. Despite that they can get you the best engagement from their audience. Nano Influencers are best for startups and small businesses.
Build a happy community
Building a strong relationship with influencers is crucial. Influencer Marketing agencies or Brands must share influencer’s content and create content to be shared by them too! It's time that we appreciate the importance of the Influencer Marketing community and make the best use of it.
Hope you found this useful!