06/05/2021
influencer marketing

Influencer marketing Strategy and tools for business

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In this blog, explains how you can get your brand noticed through influencer marketing.

 Every businessman wants his/her brand should be on social media, reachable to the audience, and get noticed. Influencer marketing is an effective way of marketing to get your brand noticed in the market. ( PR strategy )
As per the study of 2019:

• 80% of businesses found influencer marketing effective.
• 71% of marketers found better customers, quality, and traffic through influencer marketing.
• 90% of marketers said that ROI from influencer marketing is better than any other marketing channel.

So, influencer marketing is very effective today as it:
• Make your brand reachable to the audience
• Grows and increases brand trust
• Make brand messaging stronger as you show an authentic endorsement and consumers buying decisIons also get influenced in your favour.

Before implementing influencer marketing, you should have clarity of two things:

1. Goals should be set — This means what do you want to achieve by influencer marketing. Some of the goals can be:
• Brand awareness (engage the new audience)
• Increase customer loyalty
• Increase lead generation and conversion to sales

2. KPI (Key Performance Indicator) should be established.
After the clarity of the above two points, you can start your influencer search and the right and effective way to implement the influencer marketing strategy.

#1 Steps to Implement Influencer Marketing Strategy

  1. who is the right Influencer for you?

The audience profile of the influencer and your brand should be almost similar. It means the audience of influencers will be interested in your brand’s product and services. You can engage this audience to increase the sales of your product.

Example:
If your product is related to the food or cooking industry, then you will track and follow bloggers, groups, youtube channels, or social media accounts that are related to the food or cooking industry Kent Aata Maker did the same thing.

They choose influencers of Hebbars Kitchen who have 1.9 million followers on Instagram. Hebbars Kitchen has unique dishes and cooking recipes on its YouTube channel and Facebook account. Their short recipes are their unique selling point and their fans and users are also unique cooking enthusiasts.

So, to promote their equipment, Kent Aata Maker collaborated with Hebbars Kitchen on social medla and made a video on how can you make bread at home using Kent Aata Bread Maker. This video got thousands of views.

How to find the right influencer?

following are the 3 ways to find the right influencer

I. Track influencers and bloggers of the similar industry –

• Follow them and comment on their posts.

• Keep Interacting with them so that in the future, if you want to approach them for your brand, then a relationship will already be made

• Analyse the types of comments the influencers are getting on 1heir posts. This will help to know whether these influencers and their followers are relevant to your brand or not.

II. Hire a Social Media Manager or Influencer Marketing Manager –

• In your entire journey of the influencer marketing campaigns, the social media manager or influencer marketing manager is with you.
• The primary role of the manager is to search for influencers or content creators who can gel with your brand.
• They identify influencers and negotiate rates with them.
• They make a marketing strategy for the brand campaign to get maximum engagement and reachability to the audience.
• They approve your influencer’s posts before publishing and make processes of KPI’s for campaigns that they run.
• At the end of your campaign, they provide you a report on how the campaign was.
• They ensure that the content of influencer is authentic and reaching to followers and your brand credibility remains with your audience.

IIl. Use the search tool for social media influencer-

• Tools like Followerwonk, HypeAuditor, Buzzsumo, Buzzweb, Social Bond, and Sprout Social will help you to discover your influencer for different platforms.
• You will come to know from them about trending post of influencers, topics which are associated with it, customer engagement, ranking and authenticity of the influencers.
• Comparison of different influencers, audience quality score will help you to know whether the audience of a particular influencer is relevant to you or not.

3. which social media platform to choose?

You have to decide a very important thing in Influencer Marketing is the social media platform that you should optimise. There are many social media platforms. Let’s talk about the famous and most important ones.
Facebook– Majority of brands use this for social interaction. It’s a very popular medium
with high feasibility and you have the flexibility to design your content.
LinkedIn – If you want to have more professional and business-related interaction
or target a particular community, then you should do marketing on LinkedIn.
Twitter — It is all about trends, analysis, and announcements. If you want to generate opinions and engage with social audiences, then you can do your campaign on twitter.
Instagram – Very young, targeted, and the relevant audience is present on this platform. By posting images, banners, infographics, posters, videos, and even from Insta stories, you can target your audience.
• YouTube – It helps to deliver high-value video content. By this, you can educate your audience and engage them with your products.

Example:

Many small and medium brands want to associate with us and even join us. Using their case studies, we teach business lessons to our audience.

So, this influencer marketing strategy is beneficial for both:
• Brands because they are getting reach and opportunity to interact with our audience. They are able to reach the crores of followers.

In influencer marketing, you need to understand that:
• You cannot invest equal time, money, ana efforts on all social media channels.
• Your selected influencer will not be effective on all the platforms.
So, choose one or two channels so that you get good results and conversions.

#2 Influencer Pricing

 
You have chosen your social media channel and influencer along with the decision on what type of content you will be making with him but if all these don’t fit in your budget, then the entire strategy will become zero.
You can choose from the following 3 types of influencers:

1. General Influencer— This influencer is very popular and has many followers. Basically, their fame will give your brand good exposure. For example, Mr. Amit Bhadana has 19 million followers. He is also a Youtube sensation. Harsh Beniwal is also a Youtuber and Instagrammer who has approximately 8 billion followers. Their content reaches audiences through videos (singing, acting, and comedy). Both of them are 1he top-level influencers; so, they will have higher fees. They .charge around 35 Lacs to 1 crore.

2. Industry Influencer — They have a large number of followers but they target audiences of the specific industry. They can be very cost-effective. If you want to tap the audience for specific industries like auto, food, or entrepreneurship education- related audience, then this category can be very beneficial. Below are the influencers from different industries –
• In auto companies influencers like Powerdrift, Mu s afi r.
• In food influencers like Ranveer Brar, Food Talk India.
• In entrepreneurship and motivation influencers

3. Nano and Micro-lnfluencer -It is a very important category of influencers. It fits in your budget and also gives a high impact. Nano and micro-influencers have 1000 to 1 lakh followers because they are more focused on their segment and they have deep connections with their audience. So, they publicize your brand more engagingly for a respective niche audience. In fact, the influencers who have 1000 followers have 85% more engagement than influencers who have more than 1 lakh followers.

Example: A small and growing fashion brand of South India when tapped in influencer marketing techniques, they collaborated with a micro fashion blogger. within 2 weeks, they got a jump of more
than 40% sales 

So, if you use influencer marketing techniques effectively and collaborate with the right influencer, then you will definitely get the conversions. The fees of these 3 types of influencers are decided on the following basis-

1. Fee-Based — General influencer basically works on a fee model wherein you give them a fee in exchange for the amount of coverage you want for your product or service. You may give them the fee for followers or engagements also. Now, you need to decide what type of engagement you need whether:

• You only want your brand name in the video,
• Want a case study on your brand, or
• want to organise a contest.
So, the fee-structure will be decided based on how and what type of engagement you want, how much time does the influencer is spending on it, what video he has made, designing and editing of video, etc.

2. Commission-Based — Nano and micro-influencer works on commission model. If there is sales or X amount of leads generated, then you can give them the commission of that amount.

3. Barter-Based — You are giving your influencer a product or service free of cost. If you are from the fashion industry, then you may give your influencer a fashion hamper every month. if you are any clothing retail brand, then you can give them shopping vouchers.

4. CPM 1 – It means for every thousand views, you will give your influencer some fees. This is a very common module and very popular and relevant on social media.

#3 Performance Tracking

It means what are the metrics to track the performance of influencer marketing. For this, you need to check the following:

• Organic Reach – To how many people, your posts have reached, how many people saw these posts organically, how many reacted, and commented on those posts. A campaign is highly successful if the number of views is high.
• User-Generated content – lt means how your audience is sharing your content, what is their sentiment analysis on it, are their sentiments positive or negative, how many products mentions you received, and how many times your hashtag trends.

• KPI’s – They are directly linked with your numbers including the number of downloads and sign-ups for your app, the number of sign-ups generated on a client’s website, conversion in sales, and the number of times the audience has used your promo code during your campaign. These clicks and sign up show that how many people have followed up after the post of your influencer. Eventually, this determines how much your campaign was successful and whether the sale conversions happened or not.

#4 Benefit to Entrepreneurs and Small Businessman

• Cost-Effective Marketing Campaign
– It’s a cost-effective marketing campaign. Influencer marketing helps small businesses to have a good impact on the target audience at less cost. On the other hand, for TV or print media, you have to go to big influencers and brands to get an impact and this is not cost- effective. On social media, you can repost and reshare even after some time to put your brand in the minds of customers. If you want repetition on Tv and print media, then you have to invest more money.



Due to regular engagement brand loyalty increases
nevertheless slowly.

Focused advertising technique– You can tap the right audience, right age group, right geography, and right consumers through influencers.
Track ROI — You can track ROI with metrics explained above. For other mediums, it is difficult to track ROI because you don’t know how many people saw your campaign, and even if the sale happens, then does it happened due to that campaign.

What is Influencer marketing?

Influencer marketing involves brands collaborating with online influencers to market products or services.

What does Influencer marketing means?

Influencer marketing is a type of social media marketing that involves endorsements and product placements from influencers.

What type of marketing is Influencer marketing?

influencer marketing is a type of social media marketing that uses endorsements and product mentions from influencers.

How do you measure Influencer marketing?

1. Audience Reach 2. Impressions 3. Engagement (Comments, Likes, Shares) 4. Sentiment 5. High-Quality Content 6. Conversions.


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