Ultimate Guide To Grow Your Business With Influencer Marketing

Table of Content:

  • What is Influencer Marketing?
  • How Does Influencer Marketing Work?
  • Best Platforms for Influencer Marketing
  • How to Create an Influencer Marketing Strategy
  • Conclusion

A successful influence marketing strategy helps you build a trusted brand, build authority and connect with new audiences. It also drives traffic to your site and leads new customers to your products and services.

What is Influencer Marketing?

Influencer marketing is a form of social media marketing that includes impressions, endorsements or recommendations from content creators, individuals and organizations who have expert-level knowledge or social influence in their field.

Influencers have a large and engaged audience, which benefits the brands when influencers share or mention their content and message. Brand exposure captures the target audience in a positive, natural and meaningful way.

Key Statistics of Influencer Marketing

  • The influencer marketing industry was forecast to be worth $13.8 billion in 2021 (Influencer Marketing Hub)
  • 78% of marketers rate ROI as the number 1 challenge (Mediakix)
  • 80% of consumers have purchased something via an influencer recommendation (Rakuten)
  • 22% of large purchase decisions by 18–34-year-olds are influenced by influencer endorsements (ClickZ)

How Does Influencer Marketing Work?

Influencer people can show your brand through by:

  • Posting photos or videos of yourself using your product or service on different platforms
  • Posting reviews of your product or service on social media platforms
  • Write blog posts about the benefits of your offer on their blog on their website.
  • Taking an hour or day off on your social media platform to draw more attention to their endorsement.

Best Platforms for Influencer Marketing

Here are the best platforms for influencer marketing to promote your products and services on any platform. These include:

  • Facebook: Facebook has 2.2 billion users. Facebook Live is an important feature for Facebook users.
  • Instagram: Instagram influencer marketing is almost a $ 2 billion in the marketing industry. Instagram posts usually have photos and videos with detailed captions that grab the attention of followers.
  • YouTube: Influence marketing on YouTube consists of long videos where influencers can show how a product works or tell a story to raise awareness. In a survey, 6 out of 10 YouTube subscribers said they would follow the advice on what to buy from their favorite YouTube video maker on their favorite TV or movie personality.
  • Twitter: Twitter posts are smaller posts than on Instagram and Facebook. They usually come with a photo or video and target 69 million active users. Twitter chats are also popular in industries that serve professionals, especially marketers.
  • LinkedIn: LinkedIn is especially useful for victims who promote products or services designed for professionals. It allows for long posts as well as videos. The platform has over 300 million active users and is a great option for the B2B industries.

How to Create an Influencer Marketing Strategy

To create an influencer marketing strategy for your brand, go through the following steps and guide through this process.

  1. Define Your Goal

As soon as you start a smart marketing plan, your goal in the early stages of planning will help you create a consistent strategy throughout your campaign, and it will help you build your success at the end of the campaign.

Some of the goals you want to consider for your influencer marketing strategy includes:

  • Brand Awareness: Getting more people to know, recognize and like your brand.
  • Building Brand Identity: People see your brand’s personality and values.
  • Audience Building: Get more people to follow and subscribe.
  • Engagement: Getting as many shares, comments and likes as possible for your content.
  • Lead Generation: To get more people to sign up for your lead magnets and offers.
  • Sales: Getting more people to buy your products/services.
  • Customer Loyalty: To keep people interested and connected to your brand.
  • Link Building: Getting more links and sending them back to your site.

2. Identify Your Audience:

Before you start looking for inspirational people, take the time to sketch out specific details about who you want to connect with through your campaign. Develop a buyer persona that includes both demographic and psychological aspects. Once you get to know your audience, it will be easier to identify the top people who follow them and their websites.

3. Figure Out Budget:

Create a budget so you know how much you can pay the influencer. If you are a Fortune 500 company or have been in business for years if you are a startup you may be able to compensate your influencers at a higher rate. You can pay them per post, through associated commissions, or with free products.

4. Find The Right Influencer:

Once you find the right audience, you can start seeking out the influencer who will help you reach your goals and connect with your target audience.

When you consider your options, look for the following types of influencers:

  • Bloggers
  • Social media stars
  • Celebrities
  • Industry experts.
  • Thought leaders
  • Customers
  • Non-competing brands

Once you have determined the nature of your influence, start researching individuals or brands in that area.

5. Track and Analyze Your Results:

Real success is determined if you have reached your impact marketing goals.

To find out if you’ve reached your goals, track and measure your results. Using metrics to measure your success depends on the initial marketing goals you set for the campaign.

  • Brand Awareness Metrics: Website Traffic, Page views, Social Talk, Site Time, Site User
  • Building Brand Identity Matrix: Social Mention, PR Coverage
  • Audience Building Metrics: Opt-in, as follows.
  • Engagement Matrix: Shares, Comments and Likes
  • Lead Generation Matrix: Opt-ins
  • Sales Matrix: New sales, change in revenue, price per ticket.
  • Customer Loyalty Metrics: customer retention rates, renewal rates
  • Link Building Metrics: number of links, quality of links

Track the data of each of your most effective marketing campaigns so you can look back and think about what worked and what did not. Get services at an affordable price with PROS internet marketing solutions.

Conclusion

Follow these steps I’ve outlined here, and try to identify the appropriate influencers, then influencer marketing creates good results. Influencer marketing works hand in hand with content marketing to become the most successful way to market your product this decade.

Amy is the content manager at PROS — Internet Marketing & Technology Company in San Diego