Key Considerations When Influencer Marketing

Hiring an influencer can be a very attractive prospect for a business looking to advertise their products to a wider audience. Being a relatively new advertising avenue, it can sometimes be tricky to know exactly what to do and how to go about making sure that your influencer marketing strategy is a success.

This blog post goes into the dos and don’ts of influencer marketing and gives you a rundown of what you need to do to ensure you get your influencer marketing campaign off to a fruitful start.

Consider Your Product

Before you even begin to look for an influencer, your primary consideration should be your product or service. In this respect, you want to identify what problem your product solves, and who it solves it for? Once you have carefully looked at your product and assessed its function you can move onto the next step.
Don’t skip this step as it will hinder you for subsequent steps.

Choose Your Influencer

Now you have ascertained your target audience you will need to look at influencers in that field. Here are 3 things to consider when choosing your influencer.

How Influential Are They?

Find the influencers in your chosen field that have the most followers. The more followers they have the more people will hear your message. Make sure you look at their current interactions and browse comments sections to find out whether or not people value their opinion.

Cost

Never reach out to just one influencer. Influencers on the whole aren’t marketing professionals and will not always really understand their intrinsic value to a marketing campaign. As a result, they may give you a comparatively cheap price compared to the next person you approach. When making the final decision, factor in the cost of the campaign as well as how many people your message will reach in order to calculate which is the best investment.

Brand Compatibility

Time and again companies make this critical error, resulting in an inevitable marketing faus pas and potentially even backlash from customers. Don’t be drawn in simply by headline numbers such as cost and reach. Look all the way through an influencers news feed, find out if there are things that are at odds with company values. No matter how many people follow an influencer, if they have made a racist comment a few years ago, you will want to know and move onto another viable influencer.

Negotiate

Never accept the headline rate to work with an influencer. Make sure you have tried to reduce the cost of the marketing campaign as much as possible before striking up an agreement. This is crucial because upfront cost affects your bottom line and return on investment.

Be Transparent

Communication is absolutely vital, as humans we tend to not always pay attention to critical details or overlook something that seems obvious to others. When negotiating an influencer contract, make sure you’re absolutely clear about what expectations you have. This candid conversation will allow the influencer to come back with their thoughts on what is realistic.

Eyes on the Prize

 

Advertising results may not happen immediately, it might mean that to garner tangible results you need to commission the influencer on an ongoing basis in order to cement your brand into their follower’s minds. One post by an influencer can be very successful, more often than not a long term working partnership is beneficial for all involved. Be patient with the campaign and see it through to maximise results.

Budget Realistically

Advertising is rarely cheap. Bare in mind this might be your influencer’s livelihood and they might charge rates accordingly. They may even charge more than you expect because they know how much value they provide to a brand or company. Make sure you have set aside a budget consistent with this rather than expecting something cheap.
Often the best influencers are the ones that charge the highest rates, this is not only because they have a large following but because they also actively market the products they are paid to. A fantastic example of this is the YouTube sensation AlphaM. He is by no means anywhere near the cheapest influencer, but he is possibly one of the best sales influencers on the market, meaning more people will buy your product.

We hope you found this post informative, if you need assistance with your marketing, VM Interactive is at the forefront of marketing practices. Give us a call today and we will create a bespoke marketing strategy for you!