It is harder and harder to reach out in social media. Working with employee advocacy is necessary to gain both reach and credibility. Demand for influencers is increasing and it is a cost effective way to market a service or product.
To succeed with influencer marketing, you need to have clear goals and know what you want to achieve with the campaign.
Influencer, micro influencer and nano influencer – what’s the difference?
As it becomes more expensive to use influencers who have a large network, both micro and nano influencers are becoming more common.
The difference is that you can have more people talking about your product or brand and hopefully get a greater overall reach than if you only hire one person. Of course, both budget and the type and size of networking play a role here.
Using one or more influencers who have relatively large networks will result in greater awareness of the company’s brand and products.
Are nano influencers the market of the future?
A nano influencer has 10 to 3000 followers while a micro has up to 100,000. There is, however, a big difference and it is for the benefit of a person with fewer followers – they often have an audience that engages and has a great power to influence the word of mouth.
Probably both you and I support something that a friend likes and shares, and you probably get a higher credibility via a nano influencer. Their value is higher and they have a unified / common purchasing power for brands.
One advantage of nano influencers is that they often have time to engage with all because they have fewer followers. They are more strongly connected to their followers. Often, the person is a specialist in something and that means that their views will be highly valued. Credibility will have a major impact on ROI.
With the same budget, a company can partner with 20-30 SMEs to reach a different demographic and is likely to see a higher level of engagement compared to a celebrity. The platform Gnack sees that people who use social media every day and have around 10000 followers have higher unity and have greater credibility.
A survey from Markely with 2 million social media influencers shows that unpaid posts from Instagram influencers who have fewer than 1000 followers get a like share of about 8%, while those who have between 1000 and 10000 followers end up with about 4%. Interesting, right?
As the organic reach of social media is relatively low, Facebook is 2-5%, demand for influencers will increase.
Why is it important to use influencers in their marketing?
Adweek has written an article on why influencer marketing is important and can be summarized as follows:
- it is powerful
- it is social
- everyone talks about it
- cost-effective (buyer’s market)
- Consumers are tired of ads
- It is native advertising
- it improves SEO
- it is measurable
Before you get started, consider the following tips, all in order to avoid making costly mistakes in starting up your influencer marketing efforts.
The secret to success lies in having a clear goal and how and why the specific person can help you get there.
1 Identify the right influencers
Maybe this sounds obvious, but you have to start by finding the right influencer who can market your business to the right audience.
With tools like BuzzSumo and Ninja outreach, you can identify appropriate influencers. You can also use Linkedin’s search function and search for hashtags.
Or, as an alternative, hire companies that only work with sponsored posts, ie advertising in different ways. You can also manually search for relevant keywords and hashtags to find the right influencers in your industry.
Do not stare blindly at how large the network is, the important thing is to look through the person’s flow and see what the activity looks like and how big the commitment is. Demand is increasing for “micro-influencers” and they may have more time to help your company compared to one of the larger influencers.
The biggest challenge lies in finding the right person and according to a survey, 75% say that the biggest challenge is finding the right person, and 53% finding the right measurement methods.
- you hire influencers who share relevant content regularly
- you have made sure that the influencer has a large and engaged
- audience who both comment, like and share
- you see that the person is authentic and genuine
- The influencer has a way that relates to your brand
2. Set a measurable goal
To know when you have succeeded, you need a measurable goal. Some companies want to create good content about their brand, for a special event or product. Some want to drive traffic to the website or a specific landing page.
What do you want to achieve with the campaign?
3 Get in touch
Whether you are interested in gaining greater visibility in social media or boosting business growth, you need to find the right influencer. After you find out who or whom you want to collaborate with, you can contact:
- Directly to the person via social media
- Via a direct message on social media
- Via email
- Over the phone
Your goal is simple, get the person involved and assume your mission. Explain clearly your goals, expectations, what products/services it is about, and negotiate. A common and beneficial agreement for both parties should be your goal.
What do you want to measure? Many large influencers probably do not have time to respond to every comment or message. Set a realistic goal when it comes to the response rate.
It is necessary to measure both conversations, the ways in which contact and traffic are created to the website.
The more data and information you gather, the easier it will be to have the right approach going forward. It’s about understanding the statistics and making the next campaign even better.
4 Set a budget
In a perfect world, you will find people who are willing to share your post or product for free. But unfortunately, it does not work that way today and even nano influencers charge.
Large influencers receive a high compensation, up to $ 100,000, for your brand to be named, while a person with smaller networks may receive $ 100 and up. Whatever you choose, it is a cost that should be followed up, regardless of who or what company you represent.
Once you’ve set your budget, it’s time to implement a ROI measurement system. There is nothing wrong with paying a person who shares the company’s posts or products – as long as you earn more than it costs.
An Agure´s survey reveals that an influencer is most motivated by increased visibility and commitment, and by creating high quality posts.
5 Follow up on the results
This is where it is decided, what separates a campaign from a success to a failure. The campaigns that succeed have a good and detailed system for measuring with clear CPIs. The more expensive the campaign, the more you have to measure.
How do you know which influencer has generated the most buzz and return for your business?
How do you know which influencer did not meet your expectations?
You need to measure every detail and this is the only way for you to understand and adjust your strategy in the future. And remember, it is not always a person with the greatest number of followers that gives the best effect. It is about how much influence the person has in their industry.
For example, a person with 50,000 followers on Instagram can generate more than one person with 500,000 followers. That is why it is important to do your homework and choose the person you are going to work with.
There is no guarantee that the campaign will be a success but by following these 5 tips you will be on the right track and get the results you can feel satisfied with.