"Is Influencer Marketing Right For Me?"

Influencer marketing is becoming the fastest-growing channel for brands, and with the industry projected to be worth $10 billion by 2020 (that's an $8 billion increase since 2017) this growth is showing no signs of slowing down.

Some recent studies have shown that businesses can expect a 6-to-1 return on investment for influencer marketing. Or, in other words, they are getting $6.50 for every dollar spent on influencers!

Before launching an influencer strategy, there are a few questions you should ask yourself to make sure it's a successful partnership that helps you achieve your marketing objectives (and doesn't break your bank!).

1. WhAT WOULD A GREAT PARTNERSHIP LOOK LIKE?

Before approaching any influencer it’s important that you take a step back and think about what sort of partnership you’re looking for. Who is your target audience? What is my budget? What platforms do you want to be seen on? What sort of content do you want them to share? What would the frequency of that sharing look like? How will you measure the success of your campaign? Once you’ve got a clear idea of what you would like to see from an influencer campaign, you’ll be in a much better position to find influencers who can assist you.

2. WHO WOULD BE A GREAT FIT FOR YOUR BRAND?

It’s reasonably easy to find influencers these days. They’ll pop up in your feeds from time to time. While it might be tempting to jump in and start making approaches, we’d suggest doing a bit more research.

3. DO THEY LOVE MY BRAND?

Once you’ve approached an influencer, see what their response is like. Are they interested in your product or services? If they seem to just be in it for the money, it’s potentially not a great fit.

Choosing someone with the same values will mean your content come across more genuinely to your followers. Conversely, choosing an influencer who has different values could do more harm than good. It goes without saying that the aim is for the partnership to look as authentic as possible. Followers relate more to genuine recommendations rather than those that are obviously sponsored.

4. WHAT’S IN IT FOR THEM?

Influencers are a business! They may love what your product or service, however, they’ll still be expecting something from the partnership. What you offer will probably depend on the influencer’s following size/engagement results. So, expect to negotiate. Before getting in touch, think about what you have to offer. Whether that’s a product, or whether you’ve got a budget. Don’t forget everyone is looking for a way to increase their following these days, so think outside the square!

5. HOW SAVVY ARE THEY IN BUSINESS?

What you’ll find in your travels is that there are influencers who are very well set up, and there are others (which you’d probably call micro-influencers) who are less well set up. What this means is they may or may not have access to content creators who can help them with photography or videography. Also, their response times may be quite different.

While you might not like the idea of working with someone more junior, keep in mind their rates are probably lower. On the flip side, you’ll probably need to manage them a bit more closely.

SUMMARY

Interested in Influencer Marketing but don't know where to start? Get in touch! We have helped many other clients get their brand in front of their target audience, cost-effectively. We are here to help you achieve your goals!