According to Social Media Today, 94% of internet marketers using influencer marketing say that it generates about 11 times more return on investment than traditional ads. That is because only 33% of consumers trust paid media ads with a whopping 90% trusting peer recommendations. Though this form of digital promotion is high performing, brands have to be careful not to fall for fake social media celebrities who bring little to no value to their businesses.
2018 saw a soaring number of brands investing in digital influencers. Majority of these businesses spent from $25,000 up to $100, 000 on influencer marketing alone. And this momentum is not about to slow down in 2019 – Andrew Ortiz, marketing specialist at Skillroads
Check out some great hacks that will help you avoid a myriad of challenges and get you better ROI from this hot trend.
Shift Your Influencer Marketing Dollars to Instagram and YouTube
Working with people who have a sway on the feelings and decisions of a large following can boost any promotional campaign. Influencer marketing is a top social media trend that is being implemented in all major social networks. But unless you have set aside a massive amount of your advertising budget to social media, you must decide which platforms to focus on. The popularity of Facebook has been declining over the years especially in Europe.
The spread of misleading information and several data breaches are some of the problems that have afflicted the social media giant in 2018. This year, other platforms like Instagram and YouTube are expected to become more popular among users globally. These platforms, especially Instagram, will provide greater market reach and visibility. So, build your marketing campaign on Instagram and recruit at least one relevant YouTube influencer.
Invest in Mid-Level and Micro-Influencers for Solid Results
Brands have become more conversant with how social media works. Now, most of them know that they will not always achieve the results they want from getting major celebrities and giant social media personalities to endorse their products. In 2018 any person who had a relatively large and highly-engaged follower base in any platform could identify as a key influencer.
The real power is with these micro-influencers who have fewer – as compared to well-known celebrities – but more engaged followers. These influence wielders are reachable, inexpensive, and can bring just as many sales as celebrities. Investing in micro-influencer marketing is an excellent place to start as it also allows easy monitoring of marketing ROI.
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Use Travel Influencers to Reach Millennials
With the widespread use of social media, users post and brag about luxurious events such as traveling. Millennials are traveling more than any other generation. To put things into perspective, a survey by Expedia that polled 1,001 American travelers found that millennials toured an average of 35 days a year with 55% of them traveling to relax. So, if your goal is to market to people between 24-35 years, connect with influential travelers on social media and bloggers.
That way, you will reach more people in your target market and increase conversions. When deciding who to pick, consider the specific areas you are selling your products or services at. You can target local, national or global online market.
Seek Influencer Opinions on Your Products and Post Them
If you are particularly struggling with abandoned carts, this move will help you in building trust in your brand. Often businesses invest a lot of time and money on attracting prospective customers to their websites but don’t know what to do when the visitors don’t purchase. According to Statista, 69.23% online shopping carts were abandoned globally in 2017.
While there is no one solution to this problem, having a content creator to try out your product and give a testimonial can boost the confidence prospective customers have for your brand. It is best to send the sample with a note requesting them to give a review and ask for permission to post it along with their name and photo. At least one in five bloggers you send your products to will give you positive feedback. Add these reviews to your product advertisement to increase conversions.
Recruit the Most Relevant Influencer and Check for Fake Followers
Don’t get carried away by famous people online. You will drain your influencer marketing budget without getting tangible results. Why is this? Such a person would be quite expensive to hire and will probably have just a small number of followers within your target audience. One of the biggest influencer marketing mistakes is hiring famous individuals who are not relevant to the brand’s goals.
So, what is the best influencer marketing strategy to follow? Instead of targeting these famous persons blindly, do an in-depth study to find the most relevant person to boost your brand awareness. And even if they are not directly linked to your industry, they should possess a large network of your relevant prospects. Therefore, you must first identify the specific audience you are targeting. Also, watch out for seemingly popular individuals who have fake or bought followers. How can you know someone is not genuine? Here are some red flags to check for:
1. They may have thousands of followers, but their posts get only a few likes comments or reposts. That is a large follower base but very low engagement.
2. The number of followings surpasses that of followers. If the difference is significant, the account is not legit, and you should stay away from it.
3. The user has several accounts in the same medium.
4. They have not tweeted or added posts in years.
5. They mostly use stock photos, and there are no real photos of themselves.
Promote Individual Influencer Tweets and Posts Until They Notice
As a marketer, you must learn how to put ego aside and work with content creators to push your marketing strategies. Start by re-posting and re-tweeting their content. Eventually, they will notice the free promotion and feel compelled to return the favor. Once you have their attention, talk to them about boosting your brand’s social media presence.
Create Causes around What Your Key Influencers Stand For
Selling a brand is not only about attracting customers and making them buy. You also want them to identify your brand so that you can retain them in the long term. And today’s buyers are more interested in companies that contribute to a good cause. Identify a cause that is connected to the blogger you are working with or intend to recruit and start contributing towards it. You might as well attract a community of content creators which translates to publicity for your brand.
Let’s wind up with a bonus tip. When working with widely followed social media accounts, offer discounts, free products or special deals to engage with their followers. They should, however, be solid deals that the follower will be willing to compete for. And even those who don’t win will get to know your product and will probably purchase it.