Influencers can help you establish a new business and scale up an existing business within a few weeks. A well-defined influencer outreach strategy can help you reach your target audience quickly and effectively. Marketing via influencers is cost-effective, wide and convenient for most businesses. A research suggests that over 70% of the current generation of millennials across the globe prefer product endorsements by non-celebrity bloggers (Source).
You need a working strategy to ensure that your partner in this business delivers effective results. Here’s how you can create a simple and effective influencer outreach strategy that will take your business profitability through the roof.
Step 1: Understand the Requirements of Your End Customers
Before jumping into the influencer strategy, you need to define your target audience first. This pre-planning stage will help you with all the upcoming stages in the strategy.
If one thing was common amongst all the top marketers and salespeople of the world, it would be understanding the end-customer. These professionals are at the top of their fields because they know their customers’ requirements correctly. Here are a few ways you can assess the requirements of your end customers.
- Assess their Pain Points: By assessing the pain points of your customers, you can design and target your campaign to tackle them. Instead of showcasing a long list of features for your product, you can showcase how your offer helped the influencer solve a critical life problem. Most of the followers of your partner influencer will relate to these problems and buy your products.
- Look for Product USPs: You need to understand what your product can offer and how is it different from all the other products on the market. When you establish this kind of a USP for your offer, you are already way ahead of the curve.
- Provide Free Stuff: Everyone loves free stuff. If you are starting your business, you can mark up the price of your product and offer other products free in conjunction with the deal.
- Offer Discounts: If you are not willing to offer anything free with your product, try offering a discount on the price. Here, you can mark up the price of your offer and then award a discount to still retain that margin of profit.
- Show Urgency: By showing urgency in form of a limited time deal, you can catch the attention of people who are looking for a good deal and a quick fix.
- Perform Competitive Analysis: By performing the competitive analysis you can understand the strengths and weaknesses of the products offered by your competitors.
Step 2: Assign a Cause to Your Campaign
The millennials will relate to your campaign better if you can couple it with the latest news. Although most millennials do not read newspapers daily, they keep a track of the global events on social media. Look for the most consistently trending hashtags on social media and design a campaign around them.
For example, memes are trending on the internet right now. They are a constant source of entertainment for several millennials who share them actively across social media. By latching on to such a trend, you can create a viral campaign within the market that has the potential to launch your product on a massive scale.
Step 3: Look for the Right Influencers for Your Product/Service
The right social media influencers will help you get the best return on investment for your product campaigns. Choosing the best one can be a real hassle since you have a large variety of them available for every conceivable type of product on the internet. Here are a few tips on how to choose the ideal influencer for your company.
Interaction Per Post
The number of likes and comments that the influencer gets per post is an important metric that you cannot overlook while choosing the ideal partner for your business. The overall number of followers is another metric that plays an important role in the selection of the influencer. However, these metrics do not overrule the following tips on the list.
Your influencer partner might have a million followers on the social media platform. However, their posts are useless if they do not cater to the right type of audience for your business. Let’s say that you are trying to sell a new electronic gadget on the market.
- Scenario 1: This influencer focuses mainly on beauty tips and has 10 million followers on her account.
- Scenario 2: This influencer reviews the tech products on the internet and has 2 million followers on her account.
In the first scenario, your product will get a better exposure. In the second scenario, it will get a more focused one. The conversion ratio will be significantly higher in the second scenario, thereby making it a better deal although the outreach is restricted to a fifth.
Exposure to Multiple Social Media Platforms
The best social media influencers have accounts and a dedicated fan following on multiple social media platforms. He/she might use Facebook, Instagram, Twitter, Snapchat, etc. actively to promote
your products. If your product caters to the needs of the millennials and Gen-X, you need to go with an influencer that has a fan following on all these platforms.
Clever Use of Social Media Features
The best influencers use video, photos as well as text-based content to generate interest for their partners. They know how to leverage the social media features to the best of their abilities.
Cost of Partnership
The ROI is generated on the cost that you are willing to put into the deal in the initial stages. Hiring quickly growing influencers is often more affordable compared to the ones that are already well-established on social media.
Levels of Associated Micro-Influencers
The most popular social media influencers have their own fan pages. Every post that they launch is relaunched by these fan pages at a smaller scale. This creates a ripple effect in the market that helps you tag a larger audience base quickly.
Online Brand Identity of the Influencer
Is your social media influencer involved in multiple shady deals and a bad reputation? Hiring such an influencer might not be a good idea since they can tarnish the identity of your product along with their name quickly.
Target Niche and History of Campaigning
Look for the most promising and professional influencers since they have better chances of helping you establish a strong online identity. Top influencers have already established partnerships with several major companies and launched their campaigns successfully.
Step 4: Establish a Written Partnership with the Influencer/s
Once you have found the perfect set of influencers (always try and choose 5 to 6 different influencers for your campaign rather than sticking to just one of them), it is time to establish a solid partnership. Never go for the verbal agreement for the partnership. Instead, you should look for a signed document that will define the role of the influencer in the campaign precisely.
The document should ideally consist details on the number, type as well as time of posts that the influencer will stick to for the deal.
Step 5: Modify the List of Your Partner Influencers Regularly
You should consistently modify your list of influencers to target the best talent in the industry. Sticking to just one influencer for a long period might not help you get the best return on investment
in the long run. Instead, hire a group of influencers that have an overlapping set of audience to run campaigns more effectively.
Step 6: Equip the Partner with Right Tools
The signed document with the influencer should clearly state the tools that you need to provide for the marketing campaign. Most influencers will have partners that can provide them with photo and video editing services. However, some of them may require assistance from your end. The influencer should charge a lower bill in case you are providing the necessary assistance for the marketing campaign.
Step 7: Set Micro-Goals for Your Partner
Setting micro-goals for your partner will help you keep a track of the campaign effectively. Do not confuse the goal setting process with micro-management. Remember! The influencer knows his/her followers much better than you do. So, you should let the creative decision-making process land on the shoulders of the influencer.
Step 8: Invest in Reporting and Analytics
You can use online tools to keep a track of the success/failure of the campaign and reinvest in other influencers if the set strategy does not fulfil its goals.
Step 9: Optimize Your Campaigns
Put the analytics of your campaigns to a good use by optimizing your campaigns with various influencers and marketing strategies. Mix up the strategies and provide true value to your customers to make sure that you get the desired output.
Follow these steps to ensure that your influencer outreach strategy reaps a set amount of results in short period. Choose your influencers wisely to make sure that you get the desired results from the deal.