Introduction
For the past decade, Influencer Marketing has gone to another level of success. It has become viral among marketers. Promotions through influencers have become the first choice for many brands. These people are leaders of opinion. Through them, brands connect with their new and potential customers. Their followers think of them as trustworthy people in their area.
There are different kinds of activities that influencers do to promote a brand's product. Some include:
- Unboxing
- Sponsored contents
- Brand representatives
- Partnerships
- Social media takeover
It is a big task for every brand to choose the right influencer and the strategy for its promotion. But, the key to success is planning, research, and building relationships with them by following the right steps. The marketer needs to understand the importance of the process "how to build an influencer marketing strategy." Do it right to have substantial positive impacts. If done wrong, it will result in loss of many resources.
This article will share the step-by-step process for building the right influencer marketing strategy.
Six Steps for How to Build an Influencer Marketing Strategy
Define Your Target Audience
As a brand, the first thing you should do is define the audience of your product or service. That is how a successful campaign will begin. You can ask the following questions to understand your target audience better:
- Who are they?
It will include their age, income, social status, etc.
- What is their stage in the Marketing Funnel?
In the funnel, understand where your customer stands, from being aware of the brand's existence to taking a step towards making a purchase.
- What are their interests?
See what interests your audience, what they usually watch, what they want to see, which influencers most of them follow, and accordingly, design your strategy.
- What are their behaviors?
Study your consumer's behavior. It will help you see how your consumers decide on a product or service. To study this, you can survey your audience with a mix of qualitative and quantitative questions. The information from the survey will help you observe their behavior better, online and in-stores.
Set goals and KPI
Partnerships with these individuals can have more than one goal like any other promotional campaign. Define your objective and set your key performing indicators. Your KPIs will help you know how successful your campaign has been. For example, a campaign that aims at brand awareness may include the following goals:
- Total reach
- Total engagement
- Traffic on your website
- Search interest
- Mentions in media (hashtags, story mentions, post tagging)
If sales or any other objective is part of your campaign, make it your KPI.
Find the right channel
Knowing which social media would work as the best place to bring more value to the campaign is important. As per MediaKix, 89% of the brands choose Instagram for their promotional campaign. As a result, marketers spend two-thirds of their budget on Instagram. But, Instagram shouldn’t have to be the only platform for you.
Your channel selection would depend on your target audience interests, demographics, consumption, etc.
Determine the campaign budget
It is an important step. Your budget will determine the reach of your campaign. Influencers set their price grounded on their follower base because that shows their strength.
You may revise your KPIs after the budget is determined.
Pick the right influencer
If you choose the wrong person for your promotion, all the prior work will waste. The right influencer for your campaign would be one with similar brand values.
Set up the campaign
An influencer will create content. Their job is to fulfill consumers’ expectations and forward brand's message to their followers through the campaign
"Galaxy Marketing" can serve you here with genuine followers who will help increase the reach and engagement of the campaign.
Conclusion
This step-by-step guide on "how to build an influencer marketing strategy" will help you make the best decisions. Setting the audience, objectives, budget, and the people to include in the campaign all can be decided in the best way through this guide. Instagram is usually the most prominent option, but it may vary depending on the nature of the campaign. This guide will make your way easy throughout the promotion.
