It’s no secret that influencer marketing has become increasingly popular in recent years, but how does a company maximize its Return On Investment (ROI)? There are a few key strategies that will assist your brand in doing so. Check out our best practices for influencer marketing below.
- Do Your Homework
The first step in any influencer marketing campaign should be to find the right influencers. You want to ensure that you’re choosing influencers who fit in with your brand and align with your brand’s values. They are going to be ambassadors for your brand, so it is integral that you’re comfortable with their content and trust that they’ll do right by your brand.
2. Be Strategic in Choosing Influencers
It is important to keep in mind that a larger following does not equate to increased effectiveness in your campaign. In fact, it is recommended to choose a few smaller-scale influencers with a high engagement, as these audiences are more likely to click through posts or, ultimately, purchase what the influencer is promoting. Additionally, it is of course beneficial to choose influencers who have audiences in your target demographic, but be careful not to limit yourself. You can also utilize influencers with adjacent audiences and overlapping audiences. For instance, if you are a beauty brand, it may make sense to recruit a few lifestyle, home, and/or fitness influencers to help increase your promotions reach.
3. Build a Relationship
The relationship between a company and its influencer should be mutually beneficial. You want to add value to your influencers’ businesses and vice versa. Sharing their content (with expressed consent, of course) promotes your influencers and also helps to build upon your business relationship.
It is also important to listen to and collaborate with your influencers. They know a lot about their following and can likely add a lot of value to your business’ promotion if you take into consideration their insight into your target audiences.
4. Allow Your Influencers To Be Creative
It can be tough to let go of some of the control in any marketing situation, but remember: your have gained their audiences by being authentic and creative, so allow them to continue to be! Any influencer campaign should be aiming to generate organic, word-of-mouth marketing and in order for this to happen, the influencers need to be free to create unique content. You can provide information about your business or product, but, ultimately, you want your influencers to promote your brand in an authentic and creative way so as not to push away their audiences. Sometimes, even a well-placed item in the background of an Instagram photo is enough to convince a following.
5. Comply with the Federal Trade Commission
It’s extremely important for your influencers to comply with Federal Trade Commission (FTC) standards during your promotion. This means expressly noting in their blog posts, photos, YouTube videos, etc. that they are partnering with your company. It’s also important that the thoughts and opinions of your influencers are their own and that any free products they received are disclosed.
In 2015, the FTC cracked down on Lord & Taylor for a campaign in which 50 influencers promoted the same dress, but did not disclose their partnership with the company. The dress sold out in less than a week, but Lord & Taylor was under fire for non-compliance. Compliance can be as simple as putting: “FTC DISCLAIMER: This video is sponsored by <Company Name>, but my thoughts and opinions are my own.” in the description of the post, so be sure not to overlook this simple necessity.
6. Track and Measure
It may sound intuitive, but it is extremely important to track and measure your influencer campaign. Choose your metrics, set goals and KPIs from the beginning, and communicate those expectations to your influencers. Then be sure to track the effectiveness of your promotion both throughout and after it runs and bask in the glory of your ROI.
Here at Martino Flynn, we have worked closely with clients to execute influencer marketing campaigns to drive awareness and increase product trial and sales. Check out additional information on the effectiveness of influencer marketing. If you’re interested in leveraging social media influencers for your brand, you can contact us to learn more about our influencer marketing and social media capabilities.