Apr 5, 2022 — Markerly Editorial Team, 4 min read
Reading Time: 4 minutes
Influencer marketing is powerful, but many are hesitant to approach it. Despite the success of this marketing strategy, there are still many valid concerns companies have about it. Navigating the ever-expanding array of new and popular social media platforms, dealing with concerns regarding fake followers, and understanding how to find the right influencers are all issues brands have to contend with.
The good news is that it’s easy for companies to connect with influencer agencies that can help them devise custom approaches towards influencer marketing campaigns. However, the first step in this journey is to ask yourself – is your brand even ready for influencer marketing? This article will discuss how brands can prepare themselves for working with influencers. We’ll also cover some important considerations when building a business partnership with key influencers and what to expect when devising a strategy.
Influencer marketing grew to a $13.8 billion industry in 2021, with many projecting that it will increase by over $2 billion by the end of this year. CMOs continue to rely on influencer marketing strategies to maximize return on investment in their campaigns, and it’s a proven winning bet. According to Gartner, 74% of CMOs report planning to increase social media marketing spending and 65% reported that they have already begun working with influencers as key partners in their overall marketing strategy.
While it’s clear that influencer marketing is a fantastic way to increase revenue, brands need to approach this strategic partnership correctly. Working with a leading agency in influencer marketing can help your brand navigate the social media landscape in a way that will net the largest returns for your company. However, there are a few vital preparations and considerations you must make before beginning the influencer marketing journey. Knowing what to expect and understanding what it takes to maximize returns is a great starting place for companies looking to increase influencer marketing for their brand.
For an influencer marketing campaign to be effective, it has to be authentic. Get rid of any preconceived notions you might have regarding the lifestyle of social media influencers. While it’s true that some live lavish lifestyles at the cost of hashtagging a few brands on their Instagram every couple of days, most have spent years cultivating a following through thoughtful content. It’s the latter type of influencer your brand wants to work with and who will help facilitate long-standing, sincere connections with your customer demographic and help build your online following.
The right type of influencer can offer strategic feedback that you can implement in your business plan as well as your present and future marketing campaigns. Although any company can benefit from influencer marketing, it is especially powerful for businesses that deal in consumer product goods (CPG), such as those in the personal care, beauty, fashion, and food and beverage industries. If your brand chooses to work with an influencer agency, you can benefit from their proprietary software, which can analyze metrics such as follower count and engagement rate to find the right pick for you.
Recent research has revealed that 79% of survey respondents reported consuming influencer content on their social media feeds, with an impressive 43% reporting that they’d like to see more in specific areas. Working with influencers that have strong connections to your customer demographic can help pinpoint which content is likely to be the most engaging. It can also help you fill in the gaps in niche areas with little quality content.
By utilizing influencers to gain a deeper connection with your audience, your brand can fully understand how empathy drives sales and profits. Furthermore, understanding your customers’ needs and pain points can go a long way towards optimizing your product or service. Throughout this process, as influencers interact with customers along the purchase funnel, from awareness to conversion, marketers should focus on quantifying the growth in their digital presence through engagement rate metrics. Internally reviewing these patterns will help you better understand what works and what doesn’t for future campaigns.
To maximize return on investment while working with influencers, brands should adopt an integrated approach. The power of good influencer marketing – which is no more than using the voices of established figures to spread awareness about your product or service – is not just felt online. Good influencer marketing transcends the creation of posts and the receipt of “likes.” It is present in “real” life via advertising, events, public relations strategies, and other marketing campaigns.
Savvy marketers will seek to integrate their influencer marketing with their broader brand message and their marketing and advertising campaigns. This requires internal collaboration as well as collaboration between your influencer and the agencies you are working with. Alternatively, if your brand doesn’t have a huge marketing strategy yet, you should be prepared to approach influencer marketing in a data-driven way. It will provide key insights for shaping future campaigns. After all, one of the main benefits of influencer marketing is that high-quality, evergreen content can be reshaped and recycled for future ad campaigns, both in and outside of social media.
It’s hard to deny the power of influencer marketing, but to truly maximize its impact, brands must prepare themselves for the complexities involved in finding and working with the right partners. Companies that work alongside established influencer agencies can benefit from their expertise as they seek to grow their online following and build brand advocates both within and beyond the influencer scene.Planning and preparing a successful influencer campaign can result in a colossal return on investment in increased sales. It can also provide invaluable data and feedback that can help shape future marketing and ad campaigns for years to come. Whatever growth stage your company is in, it’s never a bad choice to consider working with influencers, big or small, to build brand awareness and increase sales.
Nahla Davies is a software developer and tech writer. Before devoting her work full time to technical writing, she managed—among other intriguing things—to serve as a lead programmer at an Inc. 5,000 experiential branding organization whose clients include Samsung, Time Warner, Netflix, and Sony.
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Reading Time: 4 minutes