Influencer marketing is a big buzz word in the marketing and advertising world. With its increasing growth and popularity, many businesses ask themselves “how do I find the right influencers for my business?” Too often, business owners and marketing managers fall into the trap of “the more awareness the better;” however, that is not always the case when you partner with influencers who aren’t actually influencing your audience.
While influencer marketing is highly effective, and affordable when used correctly, it is easy to fall into the trap of pairing with the wrong influencer and costing your brand. Just because they have a large following with a lot of engagement doesn’t mean they are the best fit. Before embarking in influencer marketing territory, ask yourself these three things:
What are your goals?
When starting any marketing campaign, you need to have the end in mind. Do you want to increase sales, boost brand awareness or promote a new product line? Establishing the answers to these questions will help you determine with whom you’d like to work with. Starting the process blind will only force you to work with influencers who aren’t the right fit for you or your brand.
What are your terms?
So, you have determined your goals. What’s next? Before you reach out to anyone, you need to establish what you are willing to give and for what. For example, if you are an e-commerce retail shop, you could offer free product in exchange for social media exposure or pay the influencer for a larger campaign. Every influencer works a little bit differently, so you will have to be flexible. However, knowing what you want out of your relationship will hold both parties accountable.
What influencers are you willing to work with (macro vs. micro)?
The common misconception with influencer marketing is people think that the bigger the following the better. While follower count is important, it’s more important to find a person that your target audience values and trusts. That is the basis of truly effective influencer marketing.
When you sit down to create a list of influencers you want to work with, split the list into two segments: macro influencers and micro influencers. While most businesses make the mistake of trying to find a ton of macro influencers, many marketers argue that micro influencers gave you more bang for your buck. Surprisingly, influencers with a more modest following are more likely to have their content engaged with and are also likely to charge $500 or less for content creation.
To create this list, start with your actual consumers. You’d be surprised by how many people in your audience have a strong influence. The best part? You know they are already loyal to your brand and they will promote you in an honest light.
Once you’ve created your list of potential influencers, it is important to review their legitimacy. Having a great deal of followers does not equate to a quality influencer. That is why James Nord co-founded Fohr Card; a service that helps brands sort out bot followers from real quality followers. Take a close look at their Fohr Card rating and ask for a media kit. You can also invest in third party influencer services that help manage the process for you.
Influencer marketing is not that different from other marketing channels. In order to be successful, you must have a clear foundation and know your audience. After that, the rest is gravy! If you are seeing a lot of cold influencer requests come through, ask them for a media kit. That step alone will weed out a bunch of “influencers.” Have any more questions on influencer marketing? Tweet us at @thejamesagency.