What Is The Best Way To Create An Influencer Marketing Strategy?
Influencer marketing is becoming more significant in today’s world, but how do you create an influencer marketing strategy? This section explains how to strategize and build an influencer marketing plan in detail(influencer marketing singapore).
Step 1: Establish Your Objectives
Identifying your objectives is the first stage in establishing an influencer marketing plan.
Do you want to concentrate on increasing engagement, reducing work with a low churn rate, or increasing conversion rates? Your plan will have a consistent framework if you decide on your goals early on. The following are the two most typical objectives for an influencer marketing strategy:
- Increasing brand recognition
- Boosting sales
However, rather of setting such broad objectives, it is preferable to focus your objectives on what must be accomplished as a result of your approach. To get you started, consider the following objectives:
- Increase your customer base among Chicago’s young people.
- Increase sales by 30% in the coming year
- Positively manage your internet reputation.
- Increase the number of people who follow you on social media by 40%.
- Obtain market authority over a product category.
Step 2: Figure out how to reach out to your target market.
After you’ve decided on your objectives, you’ll need to figure out how to achieve them in order to reach your target audience. The Awareness-Interests-Desire-Action (AIDA) model, commonly known as a purchasing funnel, is one technique to deliberately tap into your customers’ minds to influence them.
When you want more people to recognise and know your brand, you use awareness. People aren’t aware of your product at this point, so you’ll need to figure out how your influencer will spread the word. Will it be by photo, video, or blog post prompts, for example?
Fiji Water, for example, enlisted the help of social media celebrity Danielle Bernstein to raise awareness. They accomplished this by just placing a Fiji water in the background of Danielle exercising. Fiji water raised awareness of their brand and its purpose – to keep you hydrated – in this way(influencer marketing singapore).
When a consumer is aware of the offering (and its competitors), yet develops a soft spot for just your brand, this is known as the interest stage.
This is frequently accomplished by enticing, educating, and motivating the customer to desire more.
For example, OnePlus frequently provides presents to well-known influencers in exchange for reviews, unboxings, and generating curiosity among the target audience before the offering is officially launched.
Your customer may like your goods, but he or she will not purchase it. As a result, if you want to reach out to your target audience, consider the type of content you’ll employ to ensure that interest turns into want.
For example, Daniel Wellington was able to grow his $15,000 company into a $220 million company in just four years by using an influencer marketing strategy that sparked demand. Influencers made shoppers want to go to their website and buy watches by using appealing images, elegant colours, and a subtle feel in all of their photos.
Now that the customer is interested and ready to purchase, he or she will proceed to purchase the offering. At this point, your influencer marketing approach should be focused on how to make this activity possible.
It’s critical to understand your target audience because it affects what kind of content your influencers should create. The tone, style, and type of content developed as part of an influencer marketing campaign must be a perfect match for the audience you’re trying to reach.
Step 3: Make a financial plan.
You must design a budgetary plan for your influencer marketing campaign after you have defined your goals and target audience. You must consider the following when creating a budget:
Goals are an important part of your budgeting strategy since they help you plan how much money you’ll need to attain your objectives.
Assume that one of your objectives is to double your sales from the previous year. Doubling sales is, without a question, a lofty ambition. If you want to achieve a lofty objective, you must spend boldly and wisely.
If you want to increase your following by 20% in the next quarter, you may have a less budget than someone who wants to double their sales.
As a result, compare the proportion of resources required to fulfil your objectives. Create a budget based on the comparison.
The type of influencers you want to work with is the second most significant consideration when designing a budget strategy. There are four basic sorts of influencers from which to choose:
Micro-influencers: Micro-influencers are celebrities, online specialty experts, or opinion leaders with more than one million followers on at least one social media site.
Opinion leaders, niche specialists, and well-known individuals who have between 500,000 and 1 million followers on at least one of their social media platforms are considered macro influencers.
Mid-Tier Influencers: These are up-and-coming specialty specialists or well-known personalities with 50,000 to 500,000 followers.
They called ordinary people who are famous because of their expertise of a specialty or for some other reason as micro-influencers. Micro-influencers have between 10,000 and 50,000 followers on one of their social media platforms.
Nano Influencers: These influencers have fewer followers (1,000–10,000), but they have a high level of engagement with them since they are thought to be experts in their fields.