Influencer Marketing is a fusion of traditional and digital marketing tools. It replaces the idea of celebrity endorsement for promoting your product and services with social media influencers. The primary differentiation in the case of influencer marketing is that the campaign results are collaborations between brands and social influencers to increase the engagement rate on that particular product and service.
This influencer marketing platform promotes products and services with word of mouth. These micro-influencers trust a massive audience for brand awareness, creating engagement, and communicating messages of brands’ target audiences. This collaboration between brands and influencers helps reach the brand’s attention among potential customers.
These days businesses find the right influencers according to niche to register their brand and promote among the audience. Influencers being brand ambassadors of the brand, these influencers post about the product in blog posts, feed posts or stories. Digital Marketing has also made online shopping easier. It helps to keep the companies and customers updated about one another. It’s not an entirely new concept but making resources more efficient.
Recently researchers in digital marketing companies indicated that almost 80 % of consumers read a blog post, watch videos and go through product reviews before attempting to purchase a product. This search is to find the product that is of the best value for money.
This has made consumers’ position strong, if the bloggers and influencers do not like the product or service, their negative reviews will impact the sale of the products. At the same time, products that get favorable reviews from influencers will influence consumer behavior by tilting the balance in their favor.
Set your marketing goals and KPI’s. Market planning includes the goals behind the campaign. It helps you shape a consistent strategy throughout your campaign, and it will also give you an idea about the means to measure your success.
Here are some goals that include for influencer marketing strategy include the following:
Once the objective of the influencer marketing has been decided, then the next step is to determine influencer marketing strategy according to your brand niche and intent.
To find out the impact of your influencer marketing campaign. Here are a few metrics through which you can measure your return of investment (ROI)
Implementing the strategies that worked for the brand and skipping out wasn’t adequate for the audience. Keep track of the information for the campaign, which is run with influencers, so you can go back and review what worked for the brand and which areas need improvement. Utilize the data to help guide the next marketing campaign based on influencers.
Artificial Intelligence revamps influencer marketing is still a potent digital marketing strategy through 2022. The amount spent on marketing through influencers is predicted to rise to 15 billion by 2022, up from 9.7 billion by 2020, BEN Group (previously Branded Entertainment Network) reported earlier in 2021.
Performance-based influencer marketing is expected to become a popular trend in 2022 due to A.I. technologies that drive effective campaigns. Marketers can use A.I. to find the top influencers for their demographics concerning the quality of their posts, how they reach, and engagement, instead of just their followers. Additionally, A.I. can analyze images, text, and video information quickly and accurately in ways that humans cannot do.
Moreover, A.I. can determine the number of conversions an influencer could bring in, allowing digital marketers to maximize their budgets and evaluate the ROI.
Integrating influencers into the online marketing equation can take the consumer-centric strategy to new heights because influencers can reach broader – and different – audience types than traditional or social media-based advertising.