Think you can get away without dipping into the world of influencer marketing? Think ahain. According to The State of Influencer Marketing 2020: Benchmark Report, which surveyed 4,000 brands, marketing agencies, and industry professionals, earned media value, which is publicity that comes from promotions, not paid advertising, is $5.78 for every $1 spent on influencer marketing.
That means while ROI is notoriously difficult to track when it comes to influencer marketing, the publicity gained from influencer marketing is nearly six times as much as is spent. While direct sales may be difficult to track for some companies, it seems that exposure is exponentially increased thanks to influencer marketing.
Here are the best practices to keep in mind when you’re searching for the right influencer for your brand.
Select the Most Important Platform
Choosing the platforms where you want influencer marketing to have an impact isn’t as cut and dry as you may think. On the one hand, the platform where your business is already performing well is a great place to capitalize on that popularity and help it grow via an influencer campaign. On the other hand, a platform where you don’t have a strong presence but where an influencer who’s a great match for your brand and does have a strong presence is also beneficial because you can break into a platform you’ve been wanting to add to your strategy.
You may want to focus on one type of platform over another, or you could try to do both at the same time, assuming the influencer you choose has a solid following on both platforms. What’s most important is that you choose influencers who are doing their best work on the platforms you’ve decided are most important for your business. More on selecting the right platform next.
Approximately 90% of influencer campaigns include Instagram, so whether you only want to promote your business on Instagram or it’s part of a larger campaign, Instagram should absolutely be included. This is especially true if your customer base is under the age of 35 since the largest concentration of Instagram users are ages 25 to 34, followed by 18 to 24.
Make Sure the Influencer Is Relevant to Your Brand
There’s a lot more to think about than just the influencer’s Instagram following and the average age of their fans. Even if they’re in the exact same niche as you are, their content and messaging have to be consistent with or complementary to your brand, too. If the aesthetics or voice of the influencer’s content is way off compared to your own branding, you’re not going to reach the right audience, no matter how engaged their following is. And you could even harm, or at least muddle, your own reputation, too.
A good way to find the influencers who are relevant to your brand is to discover which ones are already talking about you. Influencers are experts at knowing their audience and what will connect with them, and if they’re interested in what you sell, chances are they know it’ll be a great match for their audience.
Select Influencers According to Your Budget
When it comes to influencers, you should care more about the quality of their following than the number of followers they have. But, in general, a smaller influencer is going to charge less than a larger-scale influencer. If your budget is meager when starting out, aim for a micro-influencer with a dedicated fan base. What you don’t want to do is try to talk to well-known and well-established influencers into accepting a lower rate than they deserve. You could ruin your relationship with an influencer who you’d love to work with in the future when you have a bigger budget to dedicate to the campaign.
Search the Old Fashioned Way
While you can Google something like “top influencers in organic cooking,” you may be disappointed with the results. Lists of top influencers are often repetitive, only featuring the same ones, and you’ll miss out on a bunch of influencers you don’t even know exist. Instead, go about your search the old fashioned way. If you’re on Instagram, for example, search by hashtag. If you use #ad or #sponsored to search, you can skim the results to see if any post looks like it matches your brand’s industry and look. This process may take a while, but it’ll be worth it, and you’ll come across a lot of high-performing smaller influencers who you’d never know about otherwise.
Spot a Fake Influencer Before You Get Too Far
Many influencers are in it for the money they’re paid, and it’s clear why just about anyone would love that opportunity, even without working for it. Fake influencers quickly gather a massive following by buying followers and engagement, which can make their accounts look popular, even if it’s all smoke and mirrors. There are a few strategies you can use to determine if an influencer is the real deal or not, but the most telling one will be their engagement ratio. If they have a ton of followers and their posts have a bunch of likes, but nobody is actually commenting on their posts in a meaningful way, it could be that all of those “fans” are actually bots.
Narrowing down your list of influencers is just one step toward getting a compelling influencer campaign up and running. You also have to pitch the influencer to encourage them to work with you, and then you have to figure out how they work with clients, what type of campaign you want to run, how to track the effectiveness of it, etc. All in all, though, it will be worth it, and with more businesses planning to increase their budget for influencer marketing, you’ll not just only reach more members of your core customer base, but you’ll also compete with others in your industry.
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The post 5 Best Practices for Finding the Right Influencer for Your Brand appeared first on Social Media Week.