Marketing can be a tough job for even the most hardened entrepreneur. This is because marketing has a lot of facets like branding, speaking the language of your audience choosing the right platforms for marketing your product or service, and identifying the strategies that are most effective for your target customers. These can make marketing a challenge and here is where you need to think about new methods of marketing like influencer marketing. Influencer marketing can boost your ROI and the bottom line.
What is influencer marketing?
Word of mouth publicity has always been one of the most effective methods of getting the attention of the market. If you need something and your friend tells you where you can get it then it is more likely that you will buy the product suggested by your friend. This is the concept of influencer marketing too, but it is on a larger scale. Influencers are people on social media who have a large following of people who trust their word. So if they suggest to their fans that they should buy your products or service, it is more likely that the fans will do just that. This is because they need the product or service and they trust the influencer who is telling them to buy it.
How to find these influencers
If you are wondering how to identify influencers in social media then this is not a simple task. Here you first of all need to identify your target audience and then ensure that the followers that the influencer has are the kind of target audience you require. For instance, if you are a beauty brand and you decide to work with a beauty blogger. Here the question arises whether you want to target young people or teenagers or you want to sell your products to middle-aged women. Hence you need to check whether your target audience is the same as your influencer’s fan following.
Of course, if you try to do this manually it will be impossible and this is why there is some software that will help you find influencers. This software has its own database and the names of influencers along with the type of fan following they have. This method saves a lot of your time and you will be able to find the right influencers who can promote your products or services.
What to do if you are a new brand?
If you are a new brand then your main challenge will be brand recognition. The cost of paid ads on social media is skyrocketing and you still don’t get the kind of ROI from these ads that you can get with influencer marketing. This is the reason that as a new brand you should opt for influencer marketing. Here you also need to understand that as far as the millennials are concerned only 1% of them trust advertisements, while 33% will trust blog reviews of any product or service before they purchase anything. According to a study by Tomoson, influencer marketing generates $ 6.50 on every dollar you spend, provided the marketing is done in the right manner.
New brands cannot expect to get such ROI with any other media of marketing. When the influencer talks about your brand, his or her fans are certain to trust their opinion. Here you need to understand that the influencers will themselves first make sure that your product or service is worth promoting. This is because if they promote the wrong product or service they will lose the trust of their fans. Hence you should not expect the influencers to lie about your products or services. This concept should be clear to you even before you contact influencers.
The different methods of influencer marketing
If you are a new brand and you have identified a few influencers who can promote your brand then you need to whip up the interest of your target audience, by using the following methods:
- Discount codes and affiliate marketing: This is a great way to attract customers because if you not just provide a free giveaway and instead tag it along with some other item like a list of all your products or services then it will be a successful gesture. For instance, if you are selling ebooks, then it is a good idea for the influencer to provide a short description of his or her partnership with your brand and then direct the audience to a URL which provides a free ebook along with the list of all the books that your brand is selling.
- Competitions and giveaways: If you have the budget for it then it is a good idea to plan some competitions and giveaways to the audience or even to the influencers. The influencers get a good chance to use the product and provide an honest review of the product. This will in fact attract more of the fans who know that the influencer is providing a description of his or her own experience with the product. When it comes to the competition side then you can drive more engagement by including suggest instructions like tagging friends, liking the post, following, sharing the content, signing up for a newsletter, or creating new content. This will definitely get the target audience to engage with your brand and will generate awareness. At the same time, the fans who get the prize for the competition will also most likely publish their opinion about your brand.
If you create a good influencer marketing strategy when you are a new brand then it will bring a lot of benefits to you. Influencer marketing will help you to create brand awareness which is a major challenge for all new brands. At the same time, your target audience will also learn about the quality and standard of the products or services that you are offering. The influencers are trusted for their opinion by their followers and they will trust them on what they talk about your brand. For the promotional content, either you can provide the content, or better still allow the influencer to create it. It has been proved in many cases that influencer marketing provides a great ROI for every dollar spent as mentioned above and this is the reason that if you are a new brand then you should opt for influencer marketing.