The colorful American WWII General, George S. Patton, once said, “A good solution applied with vigor now is better than a perfect solution applied 10 minutes later.” This definitely applies to advertising in 2016. With influencer marketing being very popular, companies that don’t act quickly risk losing momentum and missing out on profits. Since influencer marketing is only expected to grow, here are six “good solutions” that businesses of all sizes can use to benefit from this leading new advertising trend of the digital age.
Target the audience
Brands must determine the type of customer they want and connect with the right influencer who has the right audience. When a business partners with an influencer who resonates with a large audience in the right niche, everything aligns; the message directly influences the buyer’s choices. Additionally, happy customers are more inclined to share their positive experiences on different social media platforms.
Focus on the secondary market
By its very definition, influencer advertising produces big results by appealing to smaller niche demos outside the primary market. By building relationships with these secondary buyers, they in turn influence peers, driving sales and revenue. Those businesses that have properly defined the type of individual their product serves can then feel free to approach influencers who reach these “future primary buyers.”
Cultivate a relationship with influencers
It’s not enough to view the outsourcing of influencers as just another line item on a balance sheet. It’s crucial to build solid relationships because this will pay dividends in the form of a successful campaign and increased brand loyalty. Marketing pros recommend incentivizing influencers depending on their preferred form of compensation. For those who charge for their time, implementing a commission-based rewards program for top influencers is a good idea. For those who don’t, sneak peaks of new products or services should suffice.
Don’t’ just focus on the big fish
Every business wants the biggest influencer to endorse their brand. They want those stars of YouTube and social media to turn their legions of followers into brand ambassadors and drive sales into the stratosphere. A noble goal, but it misses the bigger picture. Another way to go involves organizing a list of prospective influencers into tiers, meaning that tier one represents the biggest of influencer fish while tiers two and three would represent those with smaller, more niche followings. As mentioned above, due to the sheer power that influencer marketing wields, focusing on these ancillary markets helps build a genuine interest in the brand.
Bring the customers into the mix
There’s no need to limit the generosity to your influencers—reward customers as well. Giveaways, promos and coupon codes should be commonplace. Ensure that each of these offerings has a shareable quality that makes customers want to snap photos, create hashtags and share it all with their peers on social media. Taco bell, of all brands, found success with a unique influencer campaign that involved sending rings that spelled “Taco Bell” in cursive to a handful of “special ladies” along with an accompanying handwritten note. Those who were a part of this “put a ring on it” influencer campaign shared photos of their ring and letter on Instagram, thus disseminating Taco Bell’s branded message to an even wider audience.
Keep tabs on the results
Influencer marketing has the capability to produce a staggering return on investment. In fact, official stats put the averages at $6.50 for every marketing dollar spent. That’s why it’s imperative to properly track results in order to see exactly where the campaign is working. The good news is that identifying KPIs is easier than ever due to just how much influencers resonate with their audience. Businesses can look at which influencer is producing the most amount of buys, event visits, social media shares, introductions, mentions, etc. and adjust their tactics accordingly.
Ultimately businesses are eager to work with influencers because of their reach and resonance. But successful influencers didn’t earn their status by ignoring the interests of their audience—they directly appealed to those interests. And brands who help influencers to serve these loyal audiences will find just the type of success they’re searching for.