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Looking for influencer marketing examples before trying such a campaign? This article and infographic is your quick guide to working with social media influencers and micro-influencers in your target niches...
Guest post by Brian Mechem
Top Tips For Achieving Optimal Influencer Marketing ROI Benefits
This type of relationship marketing has quickly become a prevalent method of marketing for brands. This massive explosion is being led by Instagram, where over $1.5 billion was spent in 2018 alone.
The primary reason for this is the high ROI that influencer marketing gives brands. In fact, a survey revealed that beauty brands managed to get $11.38 in revenue for every $1.29 invested. Those are some nice influencer marketing statistics!
Ignoring such a huge ROI is difficult. However, to achieve it, you need to plan your campaign strategically. Here’s how to create a successful influencer marketing campaign.
1. Cash
Influencers charge fees for promoting your brand’s products and services. While their rates depend on the number of followers the influencer has, and their industry, plan your budget for it. This is the first step to smoothly executing influencer marketing campaigns.
2. Product
Some influencers and micro-influencers may be open to working with you on a barter basis. In such a case, they will promote your brand and your products or services in exchange for the product or services.
While this may not be as costly as paying the influencer, it still requires a budget. That way, you can decide which products you can offer to your influencers.
3. Time
You need to build a rapport with influencers for a successful collaboration. Plan to put a reasonable amount of your time into communicating with influencers in your target niche.
- Familiarize them with your brand
- Introduce them to your products or services
- Explain campaign objectives
Just for starters. Compensation will also need to be discussed.
Your best interest is building long-term working relationships with your chosen influencers and micro-influencers.
4. Commission
The affiliate model works very well for your influencer marketing platform. This is especially true when you are trying to generate sales.
Provide each of your influencers a unique affiliate link. It is a simple execution - Whenever any of their followers makes a purchase through their link, the influencer gets a commission.
This method will encourage them to perform better and generate more sales for you. From there, you just need a method for tracking the affiliate links.
If you want to know other benefits of a successful influencer marketing strategy and the different types of ROI, the infographic below shows you the way.
About The Author:
Brian Mechem is COO and Co-Founder of Grin, a software solution for companies who run influencer marketing programs. Connect with him on LinkedIn.
4 Replies
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This is Very very nice article. Everyone should read. Thanks for sharing and I found it very helpful.
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Nick, Glad you found this article helpful relative to influencer marketing. We update the blog frequently, so please stop back for similar insights. Thank you for your kind words, and for your thoughtful comment. ~Keri
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Hi Jaehnig, One of my friends shared this article with me and she told me this is useful. Really she is right! This is very useful for me! Thank you for sharing!
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Hello Ms. McLellan, Happy to know this article was referred to you by a friend, and that you find it helpful! 🙂 It would be great to know what insight is most helpful and how you plan to use it in your influencer marketing campaigns. Thank you for your comment, ~Keri
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