7 Steps to Influencer Marketing Success
The return on investment for influencer marketing is almost $6 for every dollar spent. And sponsored blog posts alone have been proven to yield up to 11x more ROI than standard banner ads. So it's no surprise that up to 80 percent of companies now choose to allocate at least some of their marketing budget to influencer campaigns.
But as a fast growing and largely unregulated form of advertising, it can seem daunting when you first sit down to plan out a campaign.
How much should you budget? Which influencers should you reach out to? How do I find my target audience? How much do I need to pay for content? What paperwork is needed? How do I monitor the performance of my campaign?
We'll answer all of these questions and more in this blog over the coming months, but to kick things off, we'll give you a step by step checklist of everything you need to do to get started with your first campaign. If you've got any questions then please get in touch with me at firstname.lastname@example.org
- Search for your perfect influencers. Find out which demographics make up the influencer's audience and align them with your target customer. If you can, check out the influencer's engagement rate and how many fake followers they have so you can ensure the best return on your marketing spend.
- Reach out to them! If you can find an email address, you'll get better response rates than direct messaging. Be sure to communicate in a friendly manner, rather than sounding corporate and dry. Follow up if you don't hear back from them.
- Negotiate your terms. Have a clear idea of what you'd like them to commit to. How much content should they post? When should they post it? How much will you pay them?
- Sign an influencer agreement. Make sure to include all of the terms you've agreed to, along with things like payment terms and whether or not you can reuse the content in other marketing efforts. Send your free product to the influencer now if it was part of the agreement.
- Review content and agree go-live date. Once the influencer has drafted their content, review it to make sure it hits all of the key messages you wanted to get across in your campaign. Agree when the content should be published - think about when your target audience is most likely to see it.
- Pay the influencer promptly! Everybody likes getting paid on time. Make sure you honour the payment terms of the influencer agreement!
- Monitor your campaign's performance. If you gave discount codes to your influencers, you should be able to track conversions in your e-commerce software. Otherwise, track impressions and engagements to see how much impact your content made.
Hopefully, this demystifies the process of running your own influencer marketing campaign. If you're looking for help, get in touch with us! We can help you run a campaign, while our platform equips you with the tools and information to run great campaigns for yourself. Our customers also get access to a library of templates to use, so don't worry if you don't know how to draft an influencer agreement!
Why not book in a free demo and consultation? Follow this link to find a time that works for you: https://calendly.com/joe-woodhouse/30min