Influencer marketing can generate 11x the ROI of traditional advertising!
This alone implies how huge this trend is now and also justifies why businesses are looking at partnering with ‘influencers’ to push their businesses and drive growth. If you haven’t yet considered treading this path, now is the time to do so. Going forward in 2018, influencer marketing strategies are all set to (re)define the digital marketing strategies of several key industry players – don’t get left behind.
Business leaders today are no longer interested in fuelling their marketing strategies with the old advertising model that is broken in several places. Customers today are aware of ‘Photoshop wonders’ and many are reluctant to invest in products or services solely from an impression created as a result of a paid advertising campaign. To break this and ensure that advertising campaigns can convert prospects into customers, businesses have to find the right channel – influencer marketing, for the most part, can be that channel.
For the starters, influencer marketing is an alliance between a person – an influencer – and a business in which the latter makes the best use of the former’s reach, connections, and (relevant) fan following. Simply put, such an alliance helps businesses to market their products/ services to prospects that an influencer is already engaged with. Because the influencer is already popular in that specific community, the chances for businesses to quickly reach that community is higher, and also the prospects of engaging with it is better. Influencers already enjoy the trust of their fan following – naturally, when they endorse a business, the chances of conversion is higher.
Consider that you partner with a celebrity chef for your packaged foods business. Assuming that the celebrity chef is popular and enjoys a vast fan following, you’d have a far better reach and connect with your prospects. Therefore, the key to nailing it with influencer marketing is to find the right fit to endorse your brand.
And yes, influencer marketing is mostly relevant in the digital-social milieu.
Like with everything else, you’ve got to lay a solid foundation for your influencer marketing strategy for it to bear you fruitful results.
Once you have these in place and you have identified the best fit for the role, you can start planning to execute the campaign.
Influencer marketing strategies in a B2B scenario can be vastly different from one in a B2C. For one, in a B2B setup, the decision maker isn’t generally one person but a group of people with different opinions and preferences. Also, the decision-making process can be longer than in a B2C set-up. So, patience and persistence is the key here.
To get you started on your campaign, here’re a few best practices you could follow:
So, with these guidelines by your side, you are now ready to jumpstart your influencer marketing campaign. Don’t miss to share with us the learnings from your past influencer marketing experiences.