By Ellen Gomes
Influencer marketing has become a bit of a buzzword in the marketing industry as of late. Merriam-Webster defines influence as “the power or capacity of causing an effect in indirect ways.” From my perspective, influence, as it relates to marketing, is someone who resonates with an audience, makes an impact and provides value.
Why Should Marketers Invest in Influencer Marketing?
A recent study conducted by Content Marketing Institute found marketing campaigns that include influencers show a 10x increase in conversion rates. Think about that in terms of return on investment (ROI). That’s a potential return of over $9 for every dollar invested. Why wouldn’t you make a sound investment like that? And according to McKinsey, those customers who do convert have a tendency to stick around. They’ve reported that influencer campaigns achieve, on average, a 37% increase in retention. The numbers don’t lie. Marketers should explore how to engage influencers throughout the year. In this blog, we’ll examine what it takes to get and influencer engagement strategy started.
Things to Consider
What should brands consider when building an influencer engagement strategy?
- Resources: Determine what it will cost to implement and integrate a new influencer engagement program. And in addition, what it will cost if you don’t secure relationships with the top influencers in your industry—and the competition does.
- Targeting: Research the top influencers you want to engage with and how you want to collaborate. Outline the where and when, types of engagements (webinars, speaking engagements, tweet chats, live streams, podcasts, etc.)
- Sustainability: Think about how you can continue building the relationship beyond a single engagement. Create a long-term strategy that outlines future engagements to maintain consistent touch-points and a cadence of collaborations.
- ROI: Identify what you’ll get by investing in an influencer program. Clearly define the impact an influencer program will have on your marketing, brand, and business.
Get Your Targeting Right
One mistake I often see marketers make is thinking of influencer engagements as a one and done strategy. However, in a digitally connected world, where individuals are following and engaging with influencers on a daily basis, aligning your brand with those influencers consistently is becoming more important than ever. Let’s dig a little deeper into how to determine the best fit for your brand.
How should brands start to identify influencers?
- Observation: Look at who your target audience is following. This is a quick and easy way to identify who your audience is listening to and engaging with.
- Understand Impact: Determine who will be impactful and provide the most value to your audience. Most influencers are creating and publishing new content on a regular basis. Research and review their top content to determine if what they’re creating is relevant, consistent, and helpful.
- Understand their Voice: Ensure their tone and style matches, or complements the brand.
- Credibility: There are a plethora of qualified, knowledgeable professionals out there who would be happy to work with your brand. Why waste your time on somebody who isn’t genuinely knowledgeable and engaging?
Who Runs the Program?
Once you’ve developed a strategy and identified who Go to the full article.