How to measure if your influencer marketing strategy is effective?
To know if Influencer Marketing is effective, let's remember why it was generated and if the brand really needs it, later there will be important factors that must be known to measure the performance of the strategy and thus obtain profits and good results.
How did influencer marketing start?
Currently, marketing has used different resources to promote and encourage services or products with the aim that the final consumer obtains them.
However, some tactics have reached the intrusion of the user's privacy, causing advertising to be invasive and intrusive, looking for a more subtle and natural way to sell them , that is when Influencer Marketing seems like a solution.
But what or who are the influencers?
As the phrase expresses it, it is one or several people who influence others in ideas, opinions and actions, standing out as opinion leaders , athlete, artist, etc., in a specific topic or segment through social networks .
They use digital media to be a reference for a large number of users, turning them into their loyal followers , interacting from time to time. In this way, influencers are relevant to indicate, recommend and request actions from their fans.
This action causes marketing to see influencers as a great opportunity to promote and even make immediate or direct sales of their products or services, therefore, these influencers have great power of attraction and conviction on these social platforms.
Benefits of hiring influencers
1. Accessibility: There will always be an influencer who adapts to the objectives of your brand, whether it is for a specific niche or for a massive audience.
2. Guaranteed conversion: Influencers already have a captive audience where they recommend products or services with which they identify or associate. For this reason, brands hire these characters who they consider meet the ideals and values of the brand's identity, promoting a precise investment with a return, seeking a successful return on investment.
3. Brand Awareness: The main function of an influencer is to publicize the brand in which it is affiliated.
Brand awareness is essential in this process, which is why we find a wide variety of digital products as product recommendations. For example: Unboxing videos, which are a trend on YouTube and Instagram that consists of people or micro-influencers recording themselves opening a package that they have just received and showing its content in a video.
Example: The video of Luna mattresses as Unboxing.
4. Integrity: In order to buy products that an influencer recommends to their audience, it is important to have credibility and trust in them, customers seek to have a solid long-term relationship with the brand, establishing consumption habits based on experiences .
How do I know if I need an influencer marketing strategy?
Before acquiring a strategy that contains influencers you need:
1. An approximate budget for the marketing campaign will help you choose an influencer according to the possibilities of the brand.
2. Defined market niche . Having a target audience to which the influencer refers will help to obtain better results in sales conversions.
Some market niches:
*Fashion and beauty
3. Social Network in which you want to impact and have visibility. By knowing what type of social network you want to reach and define the target audience, you will improve the performance of the campaign, avoiding excessive costs and sending the type of message through the correct medium.
These three aspects will help you choose the ideal candidate or influencer. On the other hand, there are other factors that you should take into account when choosing the influencer, these are:
4. Constant and current Content Generation .
Some types of content they develop are:
* Publications or posts
5. Large number of followers (depending on the market niche).
6. Type of influencer (micro influencer, influencer or brand ambassador).
7. Engagement rate (there is no standard for this metric, but when you compare different influencers of your interest you will be able to take into account who has the best response with their followers)
Influencer Negotiation Methods
Some influencers ask in exchange as a negotiation:
1. Exchange: free products and services.
Example: Setareh Khatibi who promotes SEYTU brand makeup products.
Signing of a contract with brands within an established period, becoming faithful representatives of the brand.
Example: Guillermo Ochoa being a notable representative, considered an ambassador of the Kavak brand in Mexico.
Activations through posts, reels or stories in exchange for economic remuneration.
How to start the influencer marketing strategy?
After knowing the information provided above, the first step to develop an influencers mkt strategy is:1. Choose an influencer that connects with the target audience
The buyer persona is important to define our influencer; Knowing common preferences, tastes and interests cause great interaction and charisma among followers, feeling identified and idealized with them.
2. Marketing campaign .
This is concentrated in two modalities.
- Continuous work: That is, he always talks about the brand as an ambassador, reinforcing his presence and identity with his followers.
- Introduction of new products to the market in order to attract new customers.
Both modalities must take into account the scope of the campaign, the influence and the objective they want to reach in order to take full advantage of the strategy established at the beginning.
3. Generate Positive Reviews
Taking care of the product or service from the perspective of the influencer is not an easy task, therefore controlling the actions and taking care of the tone of communication will be essential to persuade the potential client in a favorable way, encouraging benefits, advantages and even promotions.
4. Measure the results:
Knowing the history of the data and measuring the results is essential for any marketing strategy, so we recommend verifying how much they have generated for your company through the planned actions.
How to measure the strategy to know if it is effective?
As a summary to start we recommend following the following steps:
Determine the objective: select the appropriate profiles for the campaign or product and determine the objective to be met, this can be:
Total number of sales generated
Increased traffic to the website
Mentions in social networks
Engagement rate/share per post
Increased fan base on brand platforms.
Some KPIs to consider are:
Engagement rate or interaction rate: In general terms, having a community of 1 million followers and only interacting with 10 is not profitable for an influencer marketing strategy. Therefore, we must pay full attention to the number of times your followers comment, click 'like', share or save a publication . Having a real, authentic and interesting link based on the content generated by the influencer is paramount.
Performance indicators: The conversion rates generated by the increase in subscriptions, sales through a link, download of an application or discount codes of the product generated in a post or in any other type of publication can be tracked by:
UTM tags : These are specific extensions that are added to URLs and that vary according to the origin of the click, offering information about how the user has reached the website. For this point we recommend the Google Campaign URL Builder tool to generate friendly tracking.
Landing page associated with the campaign .
Discount codes: They are used as an incentive offering unique and exclusive benefits of brands related to your interests.
ROI: Measures the relationship between the money earned and the money invested in a specific action. This metric stands for "Return on Investment" or "Return on Investment" and is a performance calculation used to validate investments made.
How to find influencers in RRSS?
Some tools that can help you find the perfect Influencer are:
Heepsy : Locate more than 1 million influencers on Instagram and Youtube with more than 5 thousand followers. The basic version of this tool is free and allows you to perform simple keyword searches.
Influencity : It is a software that searches in a few minutes among +55 million influencers, updated in real time and distributed globally in the main social networks. Features include custom workflows, cost predictions, fake influencer detection, engagement analytics, and real-time performance reporting.
Socialpubli : Unlike the other platforms, it is a database where even you can train as an influencer, it is an online platform that connects brands with normal people, that is, without being under the watchful eye of any media.
Influencers have taken over the internet causing a drastic revolution to traditional marketing strategies.
To get a product or service to sell, the best option is to persuade the customer through the public opinion of a figure with idealized tastes and interests. The best way to measure this strategy is with performance metrics in interaction and return on investment.
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