How to Exploit Influencer Marketing to Increase Your Sales in the New Decade
By Space Coast Daily // November 18, 2020
You must have heard and probably used influencer marketing in your marketing campaigns. But are you sure you’re using it correctly?
Now that we’re living in the age of the new version of the coronavirus revising your influencer strategy is a must.
In this post, I will let you know how to take advantage of influencer marketing in the new decade and get a higher ROI.
What is influencer marketing?
Influencer marketing is generally the newest form of celebrity endorsement using highly-engaged social/internet users.
An important difference is that you don’t have to be a celebrity or a superstar. In fact, you just need to be a content generator in a certain field to gain fame on social networks and become an influencer.
Influencers comprise a vast range of social users, from Nano-influencers with less than 5,000 followers to those who are niche thought leaders with millions of followers.
Influencer marketing is the collaboration between a business and one or more influencers with the purpose of marketing a product/service.
This is actually a cost-effective method for audience reach that many businesses use to promote their brand. Companies are spending masses of money on influencers to increase their sales through social services.
However, this field is constantly changing, and if you want to use influencer marketing efficiently, you need to update your strategies. For example, the rise of the novel coronavirus has led to a significant change in different aspects of influencer marketing.
Many sources have claimed that many influencers have decreased their prices during the COVID-19 pandemic. So, this profitable online business needs to be modified based on the new situation if you want to build your bottom line.
In any way, at all stages of influencer marketing, such as identifying niche influencers, selecting the right ones, approaching them, and eventually establishing a long-lasting relationship with them, you need to be vigilant.
Keep tracking your competitors
Tracking the activities performed by your competitors is the first step in revising your influencer marketing strategy.
You need to do research on the competition and find successful influencer campaigns in your niche. Try to jot down the bold aspects your see in these campaigns so that you can use them in your own campaign.
It’s always necessary to track the best niche influencers considering all features, not only the number of their followers.
Remember that when working with influencers, your only purpose is to increase brand awareness. So you and the influencer should have a lot in common within your industry to be able to generate more leads.
Take advantage of tools to find niche influencers
Identifying the right influencer to partner with is another critical step in influencer marketing. There are several useful means of finding and communicating with influencers. Here are some of them:
• Google Search
Obviously, using Google is the first way to search for niche influencers. Influencers usually generate niche-relevant content for blogs, and as a result, they will be found via a simple Google query. Using Google Trends for SEO is also a perfect way to find trendy topics related to your niche and also top influencers that have created content around those topics.
Try to scan all sought after blogs related to your industry and find the email address or social media handles of the authors. You can use online tools such as Rocket Reach or Hunter to find this information for a list of authors.
Of course, you can also track influencers by searching certain hashtags on various social media platforms.
You need to try different keywords, phrases, and hashtags to see the most visited accounts. Of course, you have to analyze them based on their followers, campaigns, age, gender, location, etc.
You can use your community to get referrals to certain influencers who have had successful marketing campaigns.
Previous influencers might be willing to bring other influencers into your work so they can be trusted.
Social media marketing agencies can also provide you with a useful consultant about suitable influencers. They might charge you, but their suggestions are always worth it.
• Influencer tools
Just like many other tasks, influencer marketing also has a lot of tools/apps helping you optimize your influencer campaigns.
You need to make sure that you’re taking every right influencer into account. So a simple Google query or a suggestion from a niche partner can’t always lead to the best option.
Influencer tools such as Klear, BuzzSumo, and Traackr can help you choose the right niche influencer based on your resources.
Fortunately, these online tools provide you with insightful demographics so that you can make sure you’re choosing the right option.
Niche, gender, age, region, language, and the number of followers is of great importance in influencer marketing.
Focus on trendy, informative, and entertaining content
When selecting influencers, a lot of social media marketers concentrate just on the number of followers. This solution isn’t always the best because generating evergreen content is much more important if you want to become a niche thought leader.
If you want a profound and long-lasting impact on your community, you need to work with niche experts. Being too promotional without thinking about long-term consequences can’t help you anymore.
Remember that the beneficial effects of authentic collaboration with influencers and broadcasting compelling content will emerge after a while. So be patient and think about your content strategy.
Build a network of various influencers
Often working with a single influencer can’t solely help you reach all your goals. As Social Tradia claims, many influencers want to sell their accounts, and you have to change them if you want to reach organic audiences.
So you need to build a network of different influencers, preferably from different levels. Nano-influencers and Micro-influencers are probably the best choices you have. Big companies, though, might have the chance to work with Macro or Mega influencers.
By the way, your only task is to define a unique style for all your campaigns so that your audience can recognize your content. You have to design your strategy like a puzzle and assign each influencer a specific element to work on.
Partner with organic Nano-influencers
The coronavirus is still spreading in the world, and its financial consequences might be longer than what we thought.
As a result, you have to be economical and prioritize your budget. Influencer marketing has always been an important part of many brands’ budgets. But now you have to revise your plans.
Although many influencers have reduced their rates, you’d better work with organic influencers as a priority.
Organic influencers, as opposed to paid influencers, are your real customers/audiences who might be willing to have a say in your brand story. Influencer loyalty is the most important matter when collaborating with these influencers.
You can encourage them to recommend their followers to use high-quality products/services without charging you. Of course, it’s better to offer them some benefits such as discounted prices.
Analyze your influencer campaigns and get feedback
Remember that you can’t continue with a single strategy forever. Social media marketing is an ever-changing area, and you need to constantly analyze your performance and optimize your plans.
Here are several useful methods to analyze your influencer marketing performance.
• Social media analytics tools
Fortunately, every social media platform has its own analytics tool, which allows you to track different metrics.
The number of followers, likes, mentions, shares, and many other things can give you an insight into your influencer marketing campaign.
If you want to increase the ROI of your influencer strategy in the new decade, you have to analyze influencers’ performance using social media analytics tools.
• Sentiment analysis
Apart from numbers, you need to analyze the quality of feedbacks when collaborating with influencers on social media.
It’s important to know what the intent of influencers’ audiences is under their posts, especially about your brand.
Sentiment analysis is a great approach to recognize positive, negative, and neutral comments and mentions of your brand.
There are several useful sentiment analysis tools by which you can automate sentiment analysis and save your time and money.
• Social media A/B testing
A/B testing is another useful method to know the best approach in marketing.
When you change a specific item in your social media posts, you can track the interactions of your followers with that post. So you can figure out if the difference is big or not.
You can take advantage of this method in influencer marketing to find which influencer is performing better.
• Social media polls
Direct questions are still popular among businesses and people. You can simply ask your followers’ opinions about your influencer marketing campaign.
Social media poll features are best for this purpose. Every social media platform has its own feature for the poll, and you have to know their limitations to make the most out of them.
This was just an abstract about influencer marketing and what you can do to increase your efficiency when working with social media influencers. The key to enhancing your influencer marketing strategy is to appear organic. Remember that advertisement is necessary but being too promotional is not good at all.