Influencer marketing is different than traditional outbound marketing. It is the wave of the future and it is a type of marketing where a focus is put on an influential person or group instead of the targeted market. The process is one where individuals who have influence over buyers are sourced to help provide information about the products a company wants to promote for sale.
It works by being a conduit between the buyers and the brand. The consumers will more likely trust a recommendation from a third party they admire than they will an ad. The third-party influencer in this type of marketing also brings his or her audience to the fore. Their audience has a loyalty to them making it an even more effective or convincing form of marketing than other types.
With influencer marketing, the trick is to align oneself and the brand with the right influencer. They have to have a decent audience that will help bring traffic to your website, increase your social media presence and help you get more sales mostly by telling your targeted audience why they recommend your product. It is almost solely through your influencer’s story-telling that gets the sales of the product.
The major problem with influencer marketing is that sometimes an influencer does not mention the product. A company using this type of marketing usually assumes this is the trick to getting sales and this is not the case. Just because an influencer does mention your product it does not always mean that you are getting huge sales.
Tips on how to make money using Influencer Marketing
Some companies think that if they spend a lot of money on a marketing plan that it will work. More money does not always translate into more sales. You need to set a budget for your marketing plan, including for the influencer’s help, and stick to it. Observe the progress of your campaign. Treat it as you would any other type of marketing.
Just because the third party mentions your product or your service it does not guarantee an automatic return on your investment. Be patient and keep watching how and who is being reached and driven to buy from your marketing strategy. What times of day do your customers place orders? What type of content has seen more sales than others?
Influencer Marketing is just another form of marketing. It is important to know your target audience. This helps you make sure you have the right influencer ready for the job. Your YouTube campaigns will almost always help you figure out which influencer is right for you.
This is because this is one of the major forefronts of marketing today and you can more easily track which influencer gets more views than others. In addition to the views, make sure to keep track of the number of purchases.
One of the most important things to do to make sure your influencer marketing campaign works is to keep track of all your social media platforms. Instagram is even more popular with influencers that Youtube but you cannot disregard how well your Youtube account does. It could very well be tied in perfectly with Instagram or Facebook.
When you decide to give influencer marketing a try, be sure to focus on the right influencer. Learn as much as possible about them and how they can relate to your target market as well as bring along their own audience. Negotiate a good price up front.
You might want to try to do a test run with your first influencer. Make this part of the negotiations. Have them work for your company on a trial basis. If they bring in the numbers, then you both can act on a more permanent basis contractually.
Stick with influencers who are willing to negotiate, too. You must understand that while this form of marketing is crucial to social media and web success for your company that you do not want to mistakenly pay a lot for an influencer because of their level of fame. You need to negotiate a price that will fit your budget because there is still a chance the campaign will not bring you the returns you are after.
To ensure that your influencer works with you on price, tell them that if the campaign is successful that you will increase their rate in the future.
Do not forget to keep up with other types of marketing once you launch your influencer marketing campaign. This is important especially if you are a small business. Even if you are a larger company, you still need to keep your reach as wide as possible. Your return on the investment can take a big hit if your one influencer marketing campaign does not work out.
Keep up with all types of marketing. Be sure to stick with the best ones for your industry. The beauty and fashion world tend to do very well with influencers. Still, this type of marketing is being added to most any strategy in any industry so give it some thought. Your company may do quite well especially if the influencer is carefully chosen and the campaign carefully monitored.
Once you implement your campaign, give it time to work. Your influencer may be perfect but your company needs time to get the attention it needs. It will happen when you cover all of your marketing bases both online and offline. Even though traditional outbound marketing is not at the forefront today, it does not mean that it does not have its place.
Be consistent. Do not forget that word of mouth advertising still works. Your word of mouth may be coming along more with the help of your influencer. Take care to see what those in your industry are doing with their Instagram and YouTube accounts. It cannot hurt to observe and learn from them so you can leverage the knowledge you get when you implement your successful influencer marketing plan to make more money.