In this guide, we'll teach you everything you need to know about influencer marketing, from finding the right influencers to measuring your success.
With Instagram’s ever-growing user base, now is the perfect time to start an influencer marketing campaign. And with this guide, you can do it yourself – without breaking the bank. We’ll explore what influencer marketing is, the benefits of influencer marketing for businesses, and how to set up and execute a successful influencer marketing campaign, from setting goals to the analysis. Let’s go!
There are a few different types of influencers, but the most common are celebrities, bloggers, and social media users with different-sized followings. Generally speaking, the more influence a content creator has, the more effective they’ll be at promoting your product or service.
The key to successful influencer marketing is to choose the right influencer for your brand. It’s essential to find someone who aligns with your values and whose audience would be interested in your product or service. For example, if you’re selling baby clothes, you wouldn’t necessarily want to partner with an influencer who only posts about fitness.
Once you’ve found the right influencer, the next step is to develop a creative and effective campaign.
When it comes to marketing, there’s no one-size-fits-all solution, but it offers many advantages to different types of businesses:
And the stats don’t lie:
Of course, there are different types of influencers, each with its success rate. No marketing strategy is perfect, and there are a few potential disadvantages to consider with influencer marketing.
First, it can be tough to identify the right influencers for your brand. Second, even when you’ve found the right content creators, you’ll need to spend time developing relationships with them. But, if you’re willing to put in the effort, influencer marketing can be a powerful tool for growing your business.
Now we’ve covered what influencer marketing is and its advantages it’s time to learn how to create a foolproof influencer marketing strategy.
Any good marketing campaign starts with a budget. You need to know how much you’re willing to spend before you can start planning where to spend it – and that’s especially true when it comes to influencer marketing.
Working with influencers can be a great way to reach new audiences and build your brand, but it’s not free. You’ll need to factor in the cost of hiring influencers and any associated fees, like commissions or paid promotions.
The price per post depends the influencer’s:
A celebrity’s post can reach the four or five-figure range, but chances are you’ll hire a micro or nano-influencer. The fee for a micro or nano-influencer varies from $20 to $500.
Statistics show that these smaller-scale content creators have higher engagement rates. For example, a short 15-second Instagram Reel with a 3% engagement rate can be more costly than a 20-minute YouTube video with a 0.5% engagement rate. However, a fin-tech sponsored post is likely more expensive than one about gym clothes.
But, if you don’t get copyright from your influencer, the end price can be lower. It’s all just a matter of variables. If your goal is increasing awareness or click-through rate, you’ll want to partner with multiple influencers that cover a larger audience.
Many influencers prefer moral rewards like recognition or feeling they support a specific cause. So, when you start negotiating with different content creators, use this as leverage. Once you’ve set a budget, you can start reaching out to influencers and negotiating deals. And that’s when the real fun begins.
Like most marketers, you’re probably looking to drive sales as well as increase brand awareness, and because influencer marketing is based on relationships and trust, it can often improve marketing ROI. Micro-influencers have 22.2 times more direct conversations about selling products. That’s why they’re so persuasive.
Before you establish your goals, first analyze your:
Remember that influencer marketing is just a cog in the machinery that helps you achieve these goals; it’s not a magic wand or panacea. Here are some mistakes you can make in goal setting:
For example, you can assume that you simply tap into that content creator’s market once you partner with an influencer. Then, the audience has to listen to you. Wrong.
The number of customers you have is calculated by multiplying the number of leads with the conversion rate. To increase that number, you have to tweak these two elements:
For example, Dr. Noc is a Ph.D. immunologist with 220k followers on Instagram – a number that puts him in the mid-tier range. His videos and memes are funny, relatable, and, at the same time, very informative.
Dr. Noc has a few videos sponsored by @yesprotectkids, which fights against candy-flavored tobacco. Its goal is to convince people to vote against this type of tobacco so that children are less tempted to start smoking.
Dr. Noc’s sponsored videos are successful because:
Studies show that getting new customers is riskier and more expensive than focusing on your loyal ones. That means your goal can be selling more to your existing customers or selling the same product at a higher value.
Remember that your ROI = number of customers x number of orders x price/order. Focusing on simply growing your sales is frustrating and tiresome because ROI is a result, not a variable. To get the result you want, you have to tweak the factors of the above multiplication.
If you want more sales, try to get your loyal customers to buy more, or sell them more expensive packages.
FaceYogaMonna is an excellent example because she represents her brand, but she’s also an influencer. As a certified face yoga coach & cosmetologist, she certainly has the right expertise.
But she’s also worked very hard to fill her Instagram account with valuable, informative posts.
Monna explains different face yoga poses and massages on a daily basis. She also talks about the importance of exercise and staying happy, using her personal experience. This free advice is used to upsell her programs and products.
So instead of targeting new markets and getting new customers, Monna diversifies her product range (6-week course, Gua Sha, ice rollers, etc.) and her price range.
Who you target is just as important as what you say when it comes to influencer marketing. After all, there’s no point in trying to sell sandals to someone who lives in the Arctic. (Unless, of course, you’re selling snowshoes. But we digress.)
The point is that if you want your influencer marketing campaign to be successful, you need to make sure you’re targeting the right audience. Not only will this ensure that your message is heard by interested people (aka high-quality leads), but it will also avoid any awkward situations (like getting called out by an influencer for trying to sell them the wrong product).
So before you launch your next campaign, take a moment to think about who your target audience is and make sure your influencers are reaching them. Sometimes, your influencers can help you (re)define your audience.
For example, a fitness influencer can help you sell baby clothes to parents who take their kids to baby-and-me workout groups. Look at this post, for example. It’s not a sponsored one, but it could be.
One fundamental question must be answered when it comes to influencer marketing: which channels should you use to reach the target audience?
That might seem like a no-brainer, but believe it or not, many brands mistakenly use the wrong channels and waste a lot of time and money in the process.
So how can you avoid this mistake? The first step is to understand your audience.
Once you have a good understanding of your target audience, you can narrow down which channels will be most effective for reaching them.
For example, if you’re trying to reach teenagers, using Snapchat, TikTok or Instagram would be more effective than Facebook or Twitter. By taking the time to determine the proper channels for your campaign, you can ensure that your influencer marketing efforts are successful.
This article is about Instagram, but your Instagram audience can also be on TikTok, YouTube, or Twitter.
That said, Instagram is one of the best channels to be on because:
In the world of marketing, influencers are the new black. Everybody wants them, but not everybody knows how to use them effectively. Finding the right influencer is essential to a successful influencer marketing campaign – and it’s not always easy.
The first step is to identify your target audience for Instagram. Once you know who you’re trying to reach, you can narrow down your list of potential influencers. Look for people who have a genuine interest in your brand and an engaged following. It’s also essential to ensure that your values align with the influencers you work with.
After all, you don’t want to be associated with someone who doesn’t share your brand’s core principles. Once you’ve found the right influencers, it’s time to start building relationships. Do your research to ensure your chosen influencers are legit. Using an engagement rate calculator is an excellent idea because it will tell you if those content creators:
Fitness Blender is an excellent example. The home-workout fitness company frequently uses its trainers as approachable, relatable influencers. Tasha is one of them.
This video, for example, shows:
Why does this strategy work? Because Fitness Blender has always aimed to create a family. Thus, people working out on this website aren’t just users; they’re part of a larger movement that promotes healthy living over strict beauty standards or rigid diets. The people inside this community are loyal to Fitness Blender, and the brand always makes them feel included and part of something bigger.
Fitness Blender also leveraged this community to upsell its services. As such, the company went from offering free workout videos to launching FitnessBlender Plus, a paid membership program offering exclusive workouts and privileges.
Depending on your goals, business size, and budget, there are different types of influencers you can choose from:
Ultimately, the right type of influencer depends on your specific goals and objectives. Whatever you choose, remember to make sure these content creators are legit.
That said, here’s how to find influencers on Instagram:
Any successful relationship requires communication, mutual respect, and a clear understanding of expectations. These principles also apply when working with social media influencers.
Before beginning any partnership, it’s essential to sit down and define the terms of the relationship:
By taking the time to establish a clear relationship from the start, you can avoid misunderstandings and set the stage for a productive partnership.
No one is an island, as the saying goes. In today’s social media-driven world, that could not be more true.
We are constantly connected to others, and our relationships can significantly impact our lives. That is why it is important to cultivate strong relationships with our influencers.
Here are some tips for doing just that:
To keep track of everything, you’ll need to use:
Anyone who’s ever scrolled through Instagram knows that there’s no shortage of people happy to promote a product – but that doesn’t mean they’re all equally effective at influencer marketing.
The key to finding the right message for your campaign is to consider the product you’re promoting and the audience you’re trying to reach. After all, there’s no point in paying someone to post about your product if their followers aren’t interested in what you’re selling. Let your influencers help craft the message because they know your audience intimately. Leverage these insights to improve your creative efforts.
Also, remember that studies show:
Eddie is an excellent example. As an Asian man with some skin problems of his own, he’s more credible when discussing Korean beauty products.
His posts are convincing because:
This sponsored video showing how the Hero Cosmetics patch works is an excellent example. Besides seeing up-close what they can expect, people also receive a 15% discount code.
Many marketers don’t monitor their influencer marketing campaigns, but that doesn’t mean you shouldn’t. So, set your Key Performance Indicators (KPIs) first, according to your goals.
Next, use these tools:
Any good influencer marketing campaign is bound to have its share of successes and failures. The key is to learn from both to improve your campaigns going forward.
Here’s a quick rundown of how to analyze the results of your influencer marketing campaign:
1. Gauge input vs. output: Keep track of how much you’re spending on influencer marketing, and compare it to your results. Are you getting a good return on investment? If not, try to pinpoint where the problem lies. Is your targeting off? Are your influencers not delivering quality traffic?
2. Write a report: A good report should include an overview of the campaign, a summary of the results, and any lessons learned. Include metrics such as reach, engagement, and conversions so that you can show your clients exactly what they’re getting for their money.
With a thorough analysis, you can ensure that your next influencer marketing campaign is even more successful than the last.
Running an effective influencer marketing campaign takes a lot of hard work, but the payoff can be huge. By monitoring your campaign closely and analyzing the results, you can improve your campaigns for even better results next time around.
So what are you waiting for? Get started on your next influencer marketing campaign today!
David Morneau is the co-founder and CEO of inBeat, a hybrid micro-influencer marketing agency that helps brands scale their marketing efforts. He has helped over 200 DTC brands to date.