What are the key strategies in Influencer marketing?

strategies in Influencer marketing is very important to stand out in a noisy market. Creating a perfect influencer marketing strategy is totally about being goal-oriented. Just like any other marketing method, you cannot solely start without having a comprehensive plan. Without a clear path in mind, you will never get to know which roadway has the least resistance, which is most cost-efficient and which offers the best outcome.

For this purpose, it’s important for you to first map out an ideal influencer marketing strategy. Here are the major steps that you should take into consideration before moving ahead:

5 strategies in Influencer marketing

1.Define your Goal:

It’s vital to first analyse what you wish to accomplish from your campaign. Determining your goals in the initial stages of planning will assist you to shape a constant strategy throughout the campaign. Also, it will give you a brief idea about the numerous metrics that you should track for measuring the success of your campaign.

When you have a goal in your mind then it will be much easier to track down what you actually want from the campaign.

2.Find the Relevant Influencers:

Look for such influencers for whom your brand is a natural fit. As if you already know about your objective audience, you simply require to look for such influencer aspects which determine who truly influences your target audience. Before collaborating with the influencers, it’s important to perform due attention. Ensure to complete research about the influencers to avoid any mishap. Influencer marketing software like Qoruz can be of great help here. It provides detailed insights about the influencers and helps you connect with the relevant one, or you can also use Ninjalytics.

3.Decide your Campaign Budget:

Investment generally correlates to reach the number of audiences. Influencers charges on the basis of their social media following, engagement, and current market rates. Deciding your budget from before will help you analyze which influencers to collaborate with. If you have a lower budget, you can look for a smaller set of micro or nano influencers and vice versa.

• Micro Influencers-A micro-influencer is someone who has between 1,000 to 100,000 subscriber or followers. Micro-influencers focus on a distinct niche or area and are usually regarded as an industry expert or topic specialist
• Macro Influencers-Macro-influencers are very well-known influencers, often having more than a million subscribers. The limit varies but they are most often estimated at more than 150,000 subscribers or followers.
• Mega Influencers-mega-influencers are of above 500,000 subscribers or followers, they usually cost a large chunk for money. For business starting out can hire micro-influencer for specific and targeted audiences.

4.Contact the Influencers:

Remember that influencers get numerous requests from brands on a daily basis. So, try to create a concise and personalized outreach mail that cuts through the noise and grab their attention. Though many influencers publish their contact details directly on the channel, a huge number of influencers have managers, agents, or are a part of any agency. These intermediaries often reply to campaign requests or brand inquiries.

With your audience clearly defined, then we can finally start seeking out the influencers who will help us reach our goals and connect with our target market.

As we can consider options, explore the following types of influencers:

• Bloggers
• Social Media Stars
• Celebrities
• Industry Experts
• Thought Leaders
• Customers
• Noncompeting Brands

Once we determine the type of influencer that we want to use, then start researching individuals or brands in that space. You can approach influencers on Youtube or from Instagram Direct Message.

5.Track your Results:

By just getting influencers on board to advertise your content, your work is not complete. The real success is determined once you have achieved our goals. It’s important to measure the performance of your campaign. Take into account different metrics to monitor your success relying on the foremost marketing objectives that you set for your campaign.

By tracking influencer marketing success, you’ll be able to figure out what works for you and what doesn’t. This can help you make more learned decisions in the future to raise your influencer marketing campaigns. It’s perhaps due to this reason that nearly 39% of brands in the USA would be more likely to invest in influencer marketing if they could measure its overall impact on business growth.

Which Metrics to Track for Influencer Marketing Success?

Here are some of the metrics that you should use for influencer tracking:

1. Input

Input includes the activities that you offer in the identification phase of your influencer marketing campaigns. These include activities such as:

• Social media influencer outreach
• Inducing influencers to your events
• Sending out invites for your influencer program
• Asking employees to become influencers

To get your input metrics right, you need to understand which social channels your target audience is active on. This is essential because it’s on the basis of this that you can find influencers who can reach them.

Partnering with influencers on social platforms other than those where your audience is active, may not be profitable. This is because you won’t be able to reach your target audience through the influencer campaign.

To find influencers on the social platform of your choice, you can use an influencer marketing platform. It lets you filter out influencers based on the social channels, reach, engagement rates, and even audience interests. You can also leverage advanced search features such as hashtag search, influencer mentions, handles, and names.

2. Output

Output includes the activities that have actually converted into engaged and activated influencers.

Some of the things you need to measure when it comes to your output are:

• How many influencers accepted your invitations to the events?
• How many influencers turned up for your event?
• How many influencers joined your influencer program?
• How many influencers engaged with your brand once you messaged them?
• How many relationships did you manage to build?

Measuring these things will help you figure out how effective your efforts were during the initial stages of your influencer marketing campaigns.

3. Engagement Rate–

Engagement rate is one of the most critical metrics to track your influencer marketing efforts. It gives you an idea of the percentage of the influencer’s audience who interacted with your sponsored post. You can find the engagement rate by using the following formula:

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