By Adlin Sherley
Influencer Marketing – An Overview
Influencer marketing, an increasingly popular term, and concept is the idea that anybody with strong opinions, ideas, and the right medium can influence a specifically targeted group of people into sharing these common ideas and making purchasing decisions based on it.
When translated into marketing and promoting brands, Influencer Marketing is the bridge between Influencers, brands, and people.
Becoming an Influencer opens up an endless array of opportunities for people, provided they know how to make the most of it. Similarly, Influencer Marketing gives you a chance to market your brand more effectively and to a much larger audience. When you become an Influencer, you become a face, voice, mind of a particular brand. And, to do this efficiently, step one is to understand the brand and what it stands for.
No two influencers have the same agenda or goals, and as a brand, you have pre-defined milestones as well. Keeping this in mind, it’s vital for an Influencer to study the brand, read up on its mission and vision, and also dissect its target groups and thoroughly analyze what message the brand is trying to portray and how.
Different brands also have different requirements. Their style and manner of marketing vary depending on their marketing strategies and their long-term goals.
So, as a brand, how do you partner with the right influencers to have the right influence on people? How do you translate your brand values through them?
In layman’s terms – does every shoe fit you perfectly?
If your answer is no, you probably understand why some influencers could be perfect for you and some, not so much. Just like how every brand is different and unique, every Influencer has their own distinctive traits, differences in style, though, likes/dislikes, strengths and weaknesses too. And this is why it is so important to understand that all influencers might not be the perfect choice for you.
Keeping this in mind, we’re listing out Key Performance Indicators that you should be considering, before collaborating with or signing on an influencer:
This is probably the most important KPI you need to look at because no quality means zero conversions. Once you’ve made a list of all the probable influencers you would like to team up with, your next step should be to go through their previously posted content and check for quality. Is it what you’re looking for? Does the level of creativity impress you?
Different perspectives and different levels of creativity do exist, no doubt, but the whole idea is to find an influencer that you can work in tandem with. If their tone and style of communication match the tone of your brand, then you’re ticking off the most important KPI on your list!
Engagement is nothing but the number of likes, comments, and views an Influencer’s content is receiving per post. You also need to check on the engagement to follower count ratio. For example, if an influencer with 50K followers is getting only 300-400 likes per, then chances are that the conversion rate from this collaboration might not yield great results.
On, the other hand, if an influencer with 20K followers has over 2000 likes per post, then clearly their followers are more loyal to them, and your conversion rate is definitely going to be better and more lucrative. This isn’t just about it being a numbers game; it’s about understanding how authentic their fan following is.
Relatability to brand
All influencers don’t blog or post about the same niche. Some are experts in fashion, others are good enthusiasts, while some come under the broader brackets of lifestyle and travel. You need to be careful about choosing an influencer who can relate to your brand and create content that seems less forced and more authentic.
A food blogger talking about fashion or travel doesn’t have as much credibility as a travel influencer doing the same. And that’s the reason why the relatability is a key factor for a collaboration to be successful.
Value for money
If you’re willing to spend a lot of money on influencer marketing, you also need to be able to keep track of how much you’re getting in return for your investment. Turn over and lead generation can help you track this, but you cannot do this at the beginning itself while choosing the influencer.
In such cases, you need to ensure that you’re not spending too much on an influencer that might not work out for you. Instead, offer rewards in kind first, and once you’ve monitored the performance and are happy with it, you can increase the rate of investment too.
Influencers who have profiles that are swamped with promotion after promotion might not be able to do much for your brand, because their audience is being exposed to an array of brands and profits on a daily basis and their curiosity tends to fade away. So an influencer whose account is already saturated with too many different brand promotions might not be the best platform for you to promote your brand.
Instead, go for an influencer who is picky about what they post, and also choose quality over quantity with each of their promotions.
Choosing to go the Influencer Marketing way is a smart decision for many reasons, and several brands have chosen this path too. However, even before you start designing your marketing campaign, you need to be careful about who you decide to make a brand ambassador. Hopefully, these KPIs will help you make an informed and smart decision!
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