IS SO HOT NOWADAYS
Many brands out there are interested in testing out influencer marketing, but they’re hesitant due to the fact that they have little resources and can’t quite go all-in for a strong advertising campaign. It’s totally understandable.
If you’re just getting started with influencer marketing, here are a few ways to keep costs down while still creating maximum impact. Campaigning on a small budget will help you to determine what works, and what doesn’t so that when you do make large investments in the future… you’ll know what you’re doing.
BEGIN WITH YOUR FANS
Affinity to your brand has a substantial impact on the rates that influencers will charge you. To find those that have an affinity to your brand, take a look at your followers on social media and try to determine if any of them are micro influencers. These are influencers with a smaller following but potentially have a larger amount of engagement.
CONTACT MICRO INFLUENCERS
Contact them and inquire as to whether they are interested in working with you or getting some kind of benefit from a post. As fans, they will probably be excited to work with you, and, while this does not mean the influencer won’t hope to be paid, they are bound to work with you at a much-reduced cost to your marketing budget.
Working with these micro influencers can naturally bring your business more like-minded followers organically. When you do campaigns with micro influencers, this can attract others to reach out to your brand and express interest in working together. It’s a win-win situation.
MICRO INFLUENCERS: LOCATE THE PERFECT FIT
When looking for micro influencers, you’ll want to find those whose expertise matches your campaign. Pay attention to the content that they create. You don’t want a “dog whisperer” promoting your cat products if they don’t know how to deal with cats! Ensure that the content that they create matches those of your target customers. The more specific and hyper-targeted the better.
CONSOLIDATE INFLUENCER MARKETING WITH AFFILIATE MARKETING
Be innovative by the way you compensate bloggers. provide influencers with a unique affiliate link. This enables you more space to negotiate a lower upfront rate since they can procure extra pay from actual conversions when customers buy from their link.
This could end up costing you more over the long haul, however it removes the danger of paying an influencer without getting the outcomes you were looking for. They have an incentive to produce high-quality content which will give them additional revenue. When things work well, they can produce more content down the road.
CONCENTRATE ON ENGAGEMENT
We’ve all heard a great deal about phony followers and phony engagement on influencers’ content. When you are assessing micro influencers throughout the day, fake engagement stands out like a sore thumb. Look at an influencer’s comment section to determine if they truly have a trusting and engaged audience.
It’s better to work with a micro influencer with 20,000 supporters and a 6 percent engagement rate than a large influencer with 100,000 adherents and a 2 percent engagement rate. Influencers with a larger following benefit from a higher reach and engagement but the smaller micro influencers have a more intimate relationship with their supporters and will charge a fraction of the price.
One approach you can try is to pay based on engagement. Some agencies and networks are paying based on this method so this may become the trend and norm in the future.
ENHANCE CONTENT WITH PAID SOCIAL
Although it costs money to boost content that’s shared by influencers, if done correctly and hyper-targeted, a $25 boosted post may get your product or service in front of thousands of eyes. To allow for this, you can reduce the number of influencers that you pay to raise the funds necessary on important posts. Always keep in mind that micro influencers are the key to your brand success and sometimes you may have to pay more now to achieve more success later.
ACCUMULATE INFORMATION FOR RETARGETING
The reason influencer advertising is so significant is that you are coming to a connection with and confiding in an audience. When they have seen your item once, retarget them again to bring them back. They’ll be bound to purchase in the wake of experiencing your brand on numerous occasions.
You can put a Facebook Pixel on your site and have the influencers connect to a particular page. You can then retarget the group of followers who visited that page on Facebook.
BAND TOGETHER WITH ANOTHER BRAND
Partnering with another brand can help to reduce some of the costs of marketing. It’s definitely worth looking into regardless of your budget. Build those bridges to success.
A WORD ON GIFTING OR FREE ITEMS
Sending a free product or service be sure to cut through the “gift clutter” that most influencers receive today. It’s very possible that other brands are sending gifts as well. The key to breaking through is being personal and attentive to increase the likelihood of the influencer wanting to share their unique gift. Although you may have some apprehension about investing in influencer marketing, starting small to see what works and what doesn’t will help you to determine your brand’s sweet spot. Micro influencers are the key to your brand success but you won’t know until you try them out! Good luck!