The news that a tweet from Kylie Jenner had caused Snapchat stocks to plunge 6%, costing them $1.3 billion, was a wake-up call to many businesses about the power influencers hold in the current global industry.
Influencer endorsement has been the fastest growing marketing channel for the past couple of years and, even if you’re yet to embrace the practice, it’s still not too late to reap the rewards.
Why Should I Use Influencer Marketing?
Having your product endorsed by a real-life person (most of whom relate to your target audience in a personal way) is a great way to increase brand trust and credibility. Influencer marketing feels authentic – advertising your product in an organic way that feels unforced.
In a world where YouTube stars are watched by millions on a daily basis, influencers have one of the broadest reaches (and can by-pass those pesky advert blockers that previously hindered your campaigns) often making them a cost-effective solution that gives a great return on investment.
But there’s a downside. Because of the authentic feel of influencers’ posts, the advertising standards agency have cracked down on brands over the past year which means…
Be Transparent With Your Partnerships
When money or gifts (including your products) are exchanged in return for promotion, the audience need to be made aware – and it’s not just on the influencer to show that they’re abiding by the rules, but also the brand.
You can specify to your influencer that they follow all advertising standards rules when working with your products. Make it a policy to encourage your influencer to be transparent about the partnership, highlighting their post as a sponsored advert with a relevant hashtag. Many platforms like Instagram work actively with influencers and brands to ease this process, offering a ‘paid partnership’ tag that doesn’t distract from your messaging.
How Do I Develop An Influencer Marketing Strategy?
Firstly, you need to identify the type of influencer you want to use. To do that, you’ll need to understand your current audience. What age are they typically? What are their interests? What other brands do they identify with? Look for key influencers that are relevant to these markets.
It’s important to pay attention to the influencers’ distribution platforms, to check that their styling of posting is suitable to your brand. Make a note of how much engagement they get on their posts, and how dedicated their audience following is.
Once you’ve decided on the influencers, you’ll need to decide what kind of strategy model to run. Will you be paying influencer per post? Providing products in exchange for promotion? Working with the influencers as an affiliate, where they’ll receive commission for every sale they drive through to your website? There are many different ways to work with influencers and it’s important to choose one, or a variety, that best fit your brand.
Most influencers will have their contact details readily available, but you can also find some influencers on affiliate platforms, like Affiliate Windows. Reach out with a message about the ways you’re open to working the individual, and then cultivate a relationship that will bring great potential to your brand!
Can I Manage An Influencer Programme By Myself?
Influencer marketing is a time-exhaustive programme. You’ll need to research potential influencers, attract interest, network, build relationships and organise details for every separate piece of activity. Relationships will also need to be maintained inbetween activity. Because of this, many brands find it easier to assign an individual role, or agency, to managing their influencer and affiliate programmes.
To find out more about influencer marketing, get in touch today.