Influencer Marketing 101: Developing Effective Business Marketing Strategies
Did you ever rely on a celebrity or Instagram model’s review to purchase from a fashion brand or skincare company? These testimonials can be pretty convincing for most consumers. While various digital marketing trends make businesses stand out, influencer marketing continues to dominate today’s marketing world.
What is Influencer Marketing?
As the name suggests, influencer marketing is a product or service’s advertisement through an influential personality. It’s an integration of traditional and modern marketing techniques that focus on the concept of celebrity endorsement on social media.
Most businesses with excessively content-driven marketing campaigns collaborate with influencers to reach a larger audience. The collaborations between influencers and brands aim to redirect a mass audience to the company’s products and services.
Today, influence marketing doesn’t only rely on celebrities. Companies are now choosing people with extensive social media following to promote their brands in offline settings too.
Is It an Effective Marketing Technique?
Influencer marketing became a widespread concept when brands resorted to Instagram marketing through influencers and celebrities. This strategy became significantly effective for most companies. As a result, businesses began teaming up with influencers on other social media networks too. In fact, an Adweek forecast indicated that social media marketing through influencers reached $10 billion by 2020. Today, giant social media platforms like Snapchat, TikTok, and YouTube consist of millions of influencers, depending on the demographics they represent.
According to a 2018 Mediakix survey of marketers on influencer marketing, 89% of the marketing experts said that they received better ROIs from influencer marketing than other digital marketing methods. As a result, companies focus on increasing their influencer marketing budgets for the following year.
How to Develop an Effective Influencer Marketing Strategy?
Conduct Extensive Research
The first step is to research the best social media platform to promote your brand. While you can expand to multiple platforms, in the long run, it’s better to stick with one when you’re new to influencer marketing. Picking a medium depends on the industry your business is involved in. Instagram is excellent for beauty and fashion companies, while Twitch, Snapchat, and Youtube are compelling for the gaming industry.
Choose Influencers Who Can Convey Your Message
The next step is to shortlist the influencers who can promote your business in the best possible way. Remember to choose influencers who have substantial knowledge about your industry and have sufficient experience talking about similar products or services.
Get in Touch with the Influencers
Once you’ve shortlisted the influencers, reach out to them through formal emails or social media. Send them a collaboration contract and get started with your influencer marketing strategy.
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