Up Your Revenue This Year With Influencer Marketing
Influencers. Love them or hate them, they sure do well for business. The boom of social media platforms has seen a steady rise in influencers, and a big rise for business revenues as a whole new genre of marketing emerged; influencer marketing. Using influencers to promote products and services on their social media pages is not a new concept now, but businesses are still seeing the steady growth that they can bring for them. Influencers now play an important part of our online marketing plans, so make 2021 the year you embrace the influencer.
Deciding on an influencer can be a daunting process. Social media stretches far and wide now and there is an influencer for every niche, and for every platform. This is why it’s really important to know who your ideal client is, so you know exactly where they are spending their free time, who they’re following and what they engage with. Once you know this, knowing who to reach out to and what influencers fit your brand becomes a lot easier.
When deciding on an influencer within your niche, finding one that aligns with your goals and values as a brand is important. An also important aspect is looking at their engagement rate. Influencers can have big followings – but followings don’t always equal clicks and views. A good engagement rate on Instagram, for example, would be considered anything above 5% of their followers engaging in their posts.
But what else is there to influencer marketing? Here are 3 things you definitely need to keep in mind when planning your influencer marketing campaign.
Measure Influencer Success
Many wonder how they can call an influencer marketing campaign successful? Are you rating it by sales? By views to your website? By follows on social media? By clicks on a link? There are all different ways to measure the success of an influencer marketing campaign. It all depends on what you decide what you want to achieve through this. If you go in with unrealistic expectations, no matter how great the influencer is and how engaged their audience is, it just won’t feel like a success story. However, most people would say that sales would be their target and measurement of success.
If people clicked to your Instagram page but didn’t click to your website or product, that indicates that the influencer campaign was successful on their end as they got customers to your page. What it also indicates is that there is something holding back potential customers on your Instagram page. Maybe it’s not an easily clickable link to your product. Maybe it’s not easy to ready or user friendly. Maybe it doesn’t entice the customer enough to go to your website. Maybe your ideal client is different to who your trying to reach through this marketing campaign? Influencer campaigns can very much identify pain points in your sales process.
Again, if people clicked to your Instagram page and then clicked to your website, but didn’t buy the product, then you need to be looking at your website, and how ‘sellable’ your product is. Is the layout easy to use and read? Is the purpose and call to action obvious? Is the product and click to checkout a simple process? Is the photo and copywrite of the product enticing? If customers clicked through to the website but didn’t buy, this indicates a pain point regarding your website and or product.
However, if people didn’t click to your Instagram page at ALL, this indicates that it wasn’t a successful Influencer campaign.
Don’t Rely On Flattery
Don’t be afraid to ask for what you want. Many people get almost ‘shocked’ when someone famous - whether that be a celebrity or an IG influencer - wants to use their product. They believe that they should be grateful, that the fact that this person wants to use your product or service is enough for you and your business. 9 times out of 10, it’s not. Whilst it is absolutely wonderful (and exciting!) that an influencer has paid attention to your business, you have to treat this as you would any other business deal. What will you be getting in return? State clearly what you want in agreeance of sending them a product or using your service. Will they recommend you? To who? Their instagram followers? What is their engagement like? Most of all, you should know that it is ok to say no. If your product is an expensive one to make, you could be giving away a couple of hundred (or thousand) dollars to a person that really just wanted free stuff. Having a written understanding of what is expected of both parties, and the time frames you expect them in is important for a successful influencer marketing campaign.
Get A Contract
Please, for all the love that is holy, get everything that you want and expect out of this deal with an influencer in writing. This is a follow on tip, but this deserves it’s own complete section. A good lesson of this is some things we can observe from the media and court cases that have erupted between influencers and businesses. More recently, the case between Chloe Roberts and a business that she had struck a deal with. The deal was that she was to post a photo on Instagram of her at a local cafe, write a loving description about the food, and for this she would receive a paycheck (and a free feed.) However, the cafe was upset when just a month after the post, Chloe deleted it. They had assumed the post would be up forever in her feed, helping bring in revenue and attract customers if they so happen to scroll down her Instagram feed. So - they sued. And lost. Because that part was never in writing, and Chloe argued that the post didn’t fit in with her branding on Instagram and reached its potential within the first week, where, thereafter, the post was rendered fairly useless to the company. This doesn’t make Chloe the bad person, nor does it make the café bad people either. What it does do, is highlight being extremely clear and having a good understanding of expectations from both ends. If the influencer you want to work with is not good at communicating – walk away.
Finally, I think it’s important to remember that influencers are people in a job, too. They want to be paid for their work. If they can show they will offer you something of value, they deserve to be paid their worth too. As long as you have clear expectations in writing, you do your research, and you understand your ideal client, you too can have lots of success with influencer marketing.