Influencer Marketing Strategy: 7 Common Mistakes

influencer marketing strategy

influencer marketing strategy

It has become telling that consumers are getting increasingly tired of the numerous ads regularly forced on them. As a matter of fact, all social network users; including Twitter, Instagram, Facebook, YouTube and even Snapchat, are all bombarded with ads on a daily basis. Notwithstanding, social media remains the most effective way to reach your target audience.

How then can brands promote themselves without seeming too pushy? How can they catch the attention of their target audience long enough to convert leads? The simple solution is to hire social media influencers. These influencers will be responsible for sales campaigns amongst other things. Hiring social media influencers and creating a strategy is not straightforward or simple. This is why you must draw a good plan, ensuring to avoid the seven mistakes discussed below.

Choose Wisely

It is important that you do not simply choose the first influencer that comes on your radar. As a matter of fact, an influencer being in your business niche does not make them fully qualified for the task. You should choose an influencer rgar will share your ideas and vision. The best way to find such person is by being thorough in your selection process. First, make a list of potential candidates for the role; Google will this easier. After drawing up a list, the next step is to do a background check on each Influencer. Check their track records and customer reviews, this will provide you with a clear idea of the values each Influencer represents. Look out for someone whose social media page is compatible with the values of your brand.

Generic First Contact

This comes after you must created a strategy and chosen the influencer who you want to work with. As influencers usually receive a lot of messages on a daily basis, you have to send a proposal which is eye-catching and stands out. There are a number of things which you want your proposal to do. First off, your proposal should prove that your brand is legitimate, as influencers receive a lot of con messages. For this purpose, your page should have unique branded content.

The second thing to do is to find the best channel oh which to contact the influencer. Some influencers prefer using emails for business transactions. Keep your proposal short and straightforward, while also including the necessary links.

Stingy Influencer Marketing Strategy

For most influencers, their social network accounts is where they make their living. Also, they are experts whose services come at a price. This is why you should avoid underpricing them if you are expecting the best results. You must be prepared to provide enough funds for your influencer marketing strategy, in order to improve your conversion rates. Getting a positive ROI is largely dependent on the amount of resources which you put into your campaign.

Improper Communication

Improper communication here is quite different from what it means in normal terms. Communication between the brand and influencer is very important in influencer marketing strategy, as it allows for a shared sense of direction. Improper communication in influencer marketing strategy covers two types of miscommunication.

The first one is inconsistency in communication. Any influencer you hire automatically becomes your partner in executing your influencer marketing strategy. It is for this purpose that your communication has to be consistent. You should establish rules to govern the regularity of your communication. You should also be accessible at all times to allow for effective communication.

The second one is over-communication. This refers to the act of keeping your influencer on a tight leash by smothering them with too many messages. You must give your influencer enough room to be creative on the strategy, as having an input in every aspect might make your campaign too promotional.

Not Paying Attention to Analytics

By this time your strategy should be out there already, with your influencer promoting it as expected. At this point, you must keep an eye on the important metrics of your campaign. These metrics include page visits, the number of hits on daily basis, changes in number of followers and likes on your social media accounts amongst others. Ignoring these metrics is one of the worst mistakes to make in influencer marketing. The metrics help you in determining if your strategy is working out. It also determines whether you made the right choice of Influencer, as well showing how you can improve your campaign.

Expecting The Impossible

You must keep it at the back of your mind that an influencer is not a miracle worker. The outcome of your strategy is affected by many factors asides your influencer which include quality of products, timing, interests of your target market. As such, you must consider all these factors if you want to become a popular brand on different social networks. Provide your influencer with the tools they need to carry out the strategy with ease.

Lack of Influencer Marketing Strategy

The first part of creating a marketing strategy that will work is to draw up a plan. You must have a clear sense of direction, with clarity of thoughts on what you want for your brand. This way, it is easier to share your vision with the Influencer, thereby bringing the best out of your work relationship. Influencers are usually very busy individuals and approaching them with a skeletal plan or no plan at all, will not only delay but might jeopardize your sales campaigns. You must therefore ensure that your influencer marketing strategy is entailed first contact with the influencer.

 

Influencer marketing is the 21st century equivalent of word of mouth advertising, as almost everyone is active on social networks. This makes it easier to reach your target audience using a good strategy. You must therefore ensure to avoid these seven mistakes listed above in your strategy and you can be sure to have a successful campaign.

Influencer Marketing Trends You Must Be Aware Of In 2020

influencer marketing trends

influencer marketing trends

Influencer marketing is expanding at an exponential rate. A majority of brands are now using influencer marketing in some capacity.  It is more important than ever to follow emerging trends so that you don’t get lost in the crowd.

Whether you just want to ensure you’re staying ahead of the game or you’re new to influencer marketing, here are the top upcoming trends you must know.

The Importance of Balancing Micro-Influencers and Resources

As you may know already, micro-influencers are influencers that have a small but highly engaged following. While they may not have an impressively-sized audience (typically less than 100,000), don’t let that fool you. These micro-influencers’ engagement rates can be nearly 8 times higher than an influencer with 500,000+ followers. As a result, micro-influencers are incredibly valuable and are great at generating action with consumers.

Not only are micro-influencers less costly than their larger audience counterparts, but they’re also more readily available to build a meaningful, long-term relationship with your brand. However, before reaching out, you should decide if a micro-influencer is right for your goals and your resources. For example, if your main goal is to reach a large audience, then you should keep in mind that you will generally need to manage more micro-influencers to reach that large audience compared to choosing one influencer with a very large following (macro-influencers). Though, keep in mind that a macro-influencer is going to be very expensive and typically has much lower engagement rates than micro-influencers. In the end, it’s all about balancing your budget and your goals.

Brands are Valuing Long-Term Relationships With Influencers

As influencer marketing becomes more saturated, it’s important for a brand to build long-term, dedicated relationships with their influencers. Brands are starting to recognize the value of having long-term partnerships with influencers. This is a win-win scenario for both parties since the influencer will make a steady, trusted income from a brand and that brand will have a stream of content created. In addition, long-term collaborations will introduce your product/service to your target audience in a way that’s more organic and consistent. In a long-term partnership with an influencer, you can expect steady growth and exposure for your brand.

Multi-Brand Collaborations Are on the Rise

Now, you might be thinking that a multi-brand collaboration may split potential customers, but that’s not necessarily the case; if you do it right. You can partner up with another, non-competing, brand that complements your own and then work with influencers that will highlight both brands in their upcoming content. This way, you can share the costs and both benefit from working with each other and the influencers.

Something to keep in mind is that these multi-brand collaborations tend to perform best with consumer brands. For example, a makeup brand might collaborate with the influencer’s content.

Business-to-Business (B2B) Influencer Marketing is Thriving

B2B influencer marketing is becoming more and more prevalent. An influencer can be anyone that has some form of industry credibility or known-expertise. This can include not just social media influencers, but public figures, industry experts, or even your most outspoken customers.

An easy way to get started finding a B2B influencer for your business is to make a list of industry bloggers. Contact them to inquire about writing a guest post on their site. To make it mutually beneficial, be sure to offer these influencers a space on your platform for a guest post as well. This will also drive more and new traffic to your site.

Brands Are Implementing Influencer Events

The final trend is brand-hosted, influencer events. These events are put on for a select group of influencers and allow brands to connect with influencers, create in-depth partnerships, and secure multiple marketing opportunities… all in one event!

Successful influencer events also allow influencers to use your product/service. For example, a beauty brand may throw an influencer event that allows influencers to try out and take home samples of their new products. This will generate genuine interest with your brand and create some lucrative influencer partnerships. During these events, you can also receive valuable feedback from influencers that you can use to better your product/service.

These five emerging trends offer a glimpse into the future of influencer marketing. However, as more brands start to use influencer marketing, it’s expected that new opportunities and challenges will arise.

Lastly, it is becoming increasingly important for brands to ensure that they understand the Federal Trade Commission’s (FTC) disclosure requirements and that brands are working with influencers that truly believe in your product/service. At the end of the day, the one thing that will always remain constant is the importance of authenticity in your influencer campaigns and building genuine relationships with influencers.

10 Reasons Why Micro-Influencers Matter To Your Business

micro-influencer

micro-influencer

Simply put, micro-influencer marketing works. Though, you might still be wondering how and why. First, let’s start with an understanding of what exactly a micro-influencer is.

A micro-influencer is an individual with a small but engaged and loyal following. For example, a  micro-influencer may have less than 10,000 followers on Instagram or only a few thousand on Twitter and Facebook. Don’t let their smaller following deceive you; micro-influencers deliver significant returns to brands that partner with them.

Now that you’re up to speed, here are the top 10 reasons why micro-influencers should be a key component of your influencer marketing strategy and wider digital marketing strategy.

The Cost Of Micro-Influencers

Micro-influencers are extremely cost-effective. This is because their rates tend to be lower than influencers with larger followings, which can be referred to as macro-influencers. Larger influencers’ significantly higher fees stem from the cost to access their audience, fees paid to them by previous brands and in some cases higher content creation costs. While you may reach a wider audience with a large influencer, there is a tradeoff between the upfront cost and your prospective ROI.

Micro-influencers, on the other hand, are far more economical. For example, you could pay $15,000 for one macro-influencer to create one piece of content, or, you could take that money and distribute it amongst 15 micro-influencers with a more engaged following, leading you to the next point.

Micro-Influencers Help You Diversify Your Content

When getting started with influencer marketing or trying to determine your next steps, micro-influencers allow you to diversify and optimize. By partnering with many micro-influencers you can select influencers with varying visual aesthetic or slightly different target audiences with little risk. Once the campaign is completed, you can examine the results and identify new opportunities for success.  These new opportunities allow you to access a new demographic or visually showing off your product in a way that you hadn’t considered.

Scale Your Content Creation

If your marketing campaign is focused on maximizing content creation, then micro-influencers are your golden ticket. Pairing their low fees with their ability to create high-quality content, micro-influencers are a great way to diversify the content you are sharing on your brand’s social media accounts. Aside from diversifying your content you are also engaging multiple audiences. Whether you are looking for videos, pictures, or written content, micro-influencers create great content without breaking the bank.

Build Trust And Awareness

Micro-influencers have loyal and engaged followings that trust their opinion and welcome engaging with their latest content. Many followers of a micro-influencer are people they have personal relationships with, their friends, family and people they’ve met over time. To compare, macro-influencers have similar followers, however, the percentage of personal relationships is significantly less.

Engagement can be an effective way to measure influence. For example, an influencer with 100,000 followers may only see approximately 1% of engagement from their audience. This means that only about 1000 people are truly engaging with the influencer’s content. On the other hand, a micro-influencer with only 15,000 followers and an engagement rate of 5% would see 750 people engaged with their content. The cost of the micro-influencer is far better, especially when you consider that you’re engaging nearly the same amount of people (albeit, a significantly higher percentage) with the macro-influencer vs. the micro-influencer.

Micro-Influencers Are More Authentic

A micro-influencer tends to be able to engage with their audience more than a macro-influencer. As a result, they can be more authentic and personal with their viewers. This is one reason why micro-influencers have higher engagement rates; they’re able to share more of their personality with their audience. For this reason, micro-influencers are often viewed as more trustworthy than macro-influencers. Additionally, high-profile influencers tend to work regularly with various brands and over-saturate their audience with paid advertising campaigns.

Further, micro-influencers are typically looking to grow their community and are more readily available to interact with followers both online and offline. Influencers with large audiences are not as able to engage in the same way with their audience, which creates a barrier between themselves and their followers.

Micro-Influencers Are Motivated

Micro-influencers are great to work with since they will typically go the extra mile to impress a client. More often than not, they are grateful for the opportunity to take on advertising projects with brands that appreciate their work.

They are also more readily available in terms of responding to email and private message communication as they have fewer messages to respond to and likely won’t have their manager or agent fielding messages for them. This means that it’s easier to build meaningful relationships with micro-influencers and have in-depth conversations about your advertising vision.

Micro-Influencers Provide Market Opportunity

Bigger companies often have bigger budgets and can typically work with whoever they want. For this reason, big brands generally tend to overlook smaller micro-influencers. While big brands are off chasing the big influencers, small businesses can work with the more engaged and authentic micro-influencers.

The good news is, no matter your budget, you will have the ability to compete in the market, even against big brands. At Vetterview, you can partner with an influencer for as little as $20. Micro-influencers are the perfect option to get started on your influencer marketing path and to achieve excellent results.

Micro-Influencers Have Niche Audiences

The smaller audiences that micro-influencers often have many people that share similar passions and interests. Their niche followings tend to have the same preferences in content style and share a similar demographic profile. If you are targeting a specific niche audience, then micro-influencers will help you engage with your target consumers.

High ROI

We’re moving into a new era where traditional tactics, like print marketing, are no longer the dominant approach in raising brand awareness. To successfully drive various KPIs, launch a new brand/product/service, and generate positive PR, influencer marketing delivers strong results.

Consumers are looking to social media, online reviews, and blogs when making their purchasing decisions. The internet is the first place they go to do their research. Pre-purchase consumer research is commonly done through a Google search, Facebook reviews, or scrolling through Instagram hashtags. This is partly why influencer marketing is so successful. Consumers make their purchasing decisions based on the opinions and suggestions from their favorite influencers.

TIP: Businesses can stretch their budget with influencer marketing. By replacing in-house content shoots done by a photographer with micro-influencer their ROI will increase. Micro-influencers will not only take the pictures but they will share them as well.

Avoid Adblockers

There’s no doubt about it, consumers are getting more savvy when it comes to Adblock software (or just plain skipping over online ads on Instagram and YouTube.) To maximize the audience that you reach, you’ll need to get a bit more creative. That’s where micro-influencers come in. Having micro-influencers introduce your product to an audience adds authenticity to the consumer experience (exempt from Adblocking technology). It also removes the feeling that your product/service is being forced upon them.

 

Ultimately, there is incredible power and value in influencer marketing, especially with micro-influencers. By incorporating these micro-influencers into your marketing plan, you’ll create the perfect path to success

Product Launch How To: Tips For Success

launch

 

You just might have the next game-changing product idea, but the question is, how are you going to present this idea to the world? The first step is to execute a brilliant product launch.

A strong product launch is the best way to set yourself up for success as it’s the first true introduction of your product to the public. An effective launch will have a lasting impression and draw in consumer interest.

The frightening part of an initial first launch is if it doesn’t have an immediate impact on your intended audience, it’s not possible to re-do the launch. You only have one shot to do it right. But, don’t let that scare you. With careful planning and research, you can be well on your way to successfully launching your product, even if it’s your first time.

While you may be thinking that a perfect first launch is easier said than done, there are a few key ways to help you get it right. With this in mind, we’ve built a product launch how-to guide to get you started.

Know Your Market

With inspiration comes excitement— you’re ready to show the world your great idea. You should be! However, it’s important not to let excitement prevent you from taking the time to learn about your market first. Investing the time to perform adequate market research will help you throughout the development and launch phases.

With market research also comes competitor research. Before you can fully develop your launch plan, you need to know who else out there is considered your competition. Keep an eye on both big companies and small because while ‘small’ competition might not seem concerning now, they can grow very quickly, catching you off guard and hurting your business.

Now that you’ve identified your market and competition, see where your product can uniquely add to that market. Once you understand how in the market is fulfilling a need for your customer base, you’ll get to know how your product fits into the landscape.  You can highlight those specific benefits in your product launch.

Establish Realistic Product Launch Goals

Setting realistic goals for what you would like to achieve helps you to define a path to success. Having a series of smaller goals for your launch will also help you on your way to achieving your company’s big-picture goals. It is vital that your goals are realistic and are based on the current status of your capabilities as a business.

Some examples of goals for your product launch might be:

  • garnering interest from relevant media outlets;
  • expanding your consumer base and/or social media following;
  • and/or setting and meeting a sales target

Something to keep in mind is that your goals for the product launch should parallel your long-term growth strategy. Having cohesive goals for your first launch and your company will solidify a streamlined path to success as well as align your product launch with your company’s overall trajectory.

Learn Your Audience and Define Your Main Message

After you’ve completed your market research and set your goals, it’s time to dig a little deeper.

Now you need to get to know your target audience in more detail. This includes your target market’s demographics, their current influences, media consumption, and any emerging trends in their lives.

A good way to start is by putting yourself in your audience’s shoes. Developing an in-depth understanding of your customers will help you specifically express the benefit of your product to your target audience. Focus groups and user testing are both common strategies to learn this important information. These should be done well in advance of your product launch.

Part of the process of getting to know your audience is developing a clear and concise message about your product and your company. What’s your company’s purpose and what does your brand stand for? Your audience will want to know what your company’s message is and what you represent. Make sure you have a message that distinctly identifies your company’s objective and vision. Keep in mind that people don’t buy what you do, they buy why you do it. (Simon Sinek link)

Develop and Test

Testing for your product should begin early. There will likely be many phases to your product so you must start testing as soon as possible. Your product doesn’t need to be flawless before you get it out to your first group of consumers. Start with a minimum viable product (MVP) for your first customers to test and provide feedback on.

When you’re in the development stage, you should design the full end product, including all the features, with the understanding that not all of these features will be implemented right off the bat. Painting a full picture of your intended finished product will help your developers plan your product’s stages and, ultimately, save you time.

Once you have your MVP ready, you can start collecting feedback from your established consumer focus groups. This will provide you with a better understanding of your target audience’s needs and thought processes. That being said, you should keep in mind that feedback should be considered guidance, not gospel, and you can’t have too much feedback.

Construct Your Marketing Plan

Creating your marketing plan can be done early, even before your product has reached its final stage. In fact, you should start thinking about your marketing plan before your product is finished.

Here are some examples of activities you should consider when developing your marketing strategy:

  • Company and product branding
  • Use of social media;
  • Social media influencers;
  • Planning a launch event;
  • Having a pre-launch press-release for various media sites

Some of these ideas are dependent upon your target audience, so this is why it’s important to understand your customers on a deeper level. For example, if your intended market is individuals that are ages 60+, investing heavily in social media influencers may not be the best course of action.

Additionally, you don’t want your product to seem to appear out of thin air. You should start spreading the word about your product and building interest well before your product launch date. On the flip side, you don’t want to start marketing too early as your consumers may lose interest waiting. While there is no right or wrong timeline to use, we have seen success when a marketing plan is implemented 1 ½ to 2 months before your launch.

Lastly, your marketing plan needs to expend well beyond the launch. It is important that you continue to develop your brand and grow your audience. This will ensure that your product doesn’t just drop away from the spotlight after the initial launch hype but continues to grow.

Measure Results

To fully understand if you’re on the right path to a successful first launch, you need to ensure you’re measuring your results along the way.

For example, take a look at those earlier goals you set. Did you meet them? Why or why not? Some other measurable ways to evaluate your progress are by performing consistent analytical data tracking, such as sales, website traffic, social media engagement, etc.

Don’t wait until after your launch to take a look back or analyze your process. By then, it’ll be too late to change course. Instead, take the time to reflect on your past goals and how you feel you’re doing in meeting your current goals along the way. Continue to measure your success and share your reflections with your team. Having everyone on the same page is key to a smooth launch.

Keep Up the Momentum

It doesn’t all come to a halt after the launch; you’ll need to think ahead to what comes next. Continue setting your goals and think long-term, because, truly, the launch is just the beginning of your journey.

Remember that there is a wealth of knowledge out there to support you. You can always ask for help or advice from other entrepreneurs that have been in the same position as you once upon a time. By learning from those with experience and with diligent planning, you’ll be well on your way to a successful first launch.