What is the best way to develop an influencer marketing strategy? (influencer marketing singapore)
An influencer campaign, like any other marketing strategy, involves careful targeting and planning. You won’t achieve strategic success simply by giving away free items to anyone who asks or to your existing friends and acquaintances.
1. Where to look for influencers and how much to pay them (influencer marketing singapore)
The first stage, like with any strategy, is to conduct research. Select the platform on which you want to concentrate your efforts first. You can always branch out to other platforms later, but if you’re just getting started, stay with one for now. In an ideal world, your company would already have a presence on this network or be striving to do so.
If you’re not sure where to start, social listening can help you figure out where people are talking about your business and brand—and which platforms have the most prominent voices in your market. To discover more, see our guide to social listening.
When it comes to implementing an influencer marketing strategy, the industry you’re in is also important. On Instagram and YouTube, beauty and fashion firms shine. Twitch is dominated by the video game industry.
Research on influencer (influencer marketing singapore)
Look into the types of influencers you’re interested in during your research step. Are you targeting celebrities with large fan bases? Or those with less than 2000 followers, known as microinfluencers? Perhaps something in the 5–10k follower area would be more your style. Your budget will be determined by what you select to focus on.
Compensation varies greatly, so look into average rates for those influencer types. Microinfluencers are usually narrowly focused on a few themes and are willing to accept items. Some microinfluencers are self-employed, while others are represented by a company or network. Larger clients and celebrities, on the other hand, may require pay and may even go through a talent agency.
You’ll need to consider the expected return on investment (ROI) of your social influencer marketing campaign: how will you measure the impact of influencer postings on your overall marketing objectives? One strategy is to compare your influencer expectations to those of other companies. For example, consider how you would budget for a video production firm to create an ad for you versus an influencer making a video. Although measuring the worth of influencers may appear to be unpredictable at first, this method will provide you with a familiar point of comparison and contrast.
Influencer’s price (influencer marketing singapore)
Influence.co announced the findings of their Instagram influencer payout investigation in 2017. They calculated the average cost of an Instagram post and discovered:
The average cost of each post was $271.
Micro-influencers with fewer than 1,000 followers paid an average of $83 per post.
Influencers with more than 100,000 followers paid an average of $763 per post.
Research is crucial, and you’ll find yourself returning to it frequently during the process.
2. Create a budget and a management plan.
You need to set your budget now that you have a rough concept of how much to pay influencers. Consider how much time you’ll need to develop, execute, and evaluate your influencer programme. Running a successful influencer marketing campaign isn’t a one-size-fits-all approach. It will necessitate close monitoring and follow-up.
Because influencers are human and frequently juggling several collaborations, some may fall behind on their promises to publish on time or make errors in your specified tags or calls to action, as opposed to a more automated ad campaign. To build these relationships, you’ll need the time to be more hands-on with them, and you’ll need to adapt your approach over time as you learn what works and what doesn’t in your area.
Consider establishing a formal ambassador programme if you have the time and resources. Fujifilm uses its ambassadors to promote new products and enrich its content. The company can diversity their feed to highlight what their equipment can achieve because they have a variety of photographers and videographers at their disposal.
Hiring an influencer marketing agency to conduct the research and coordination for you is a fantastic bet for brands that need a larger pool of influencers.
3. Establish objectives and a message
Influencer marketing is used for two main reasons: to raise brand recognition and to improve sales. Instead of putting these broad objectives as your two objectives, it will be more productive to begin your approach by focusing on what your brand requires. Maybe you’d like to expand your customer base to include a younger audience. Or you want to introduce a new product to a new user group. Alternatively, you may prefer to avoid trends and instead use influencers to promote your brand’s beliefs.
Influencers have the ability to communicate with highly particular groups of people. Instead of depending on thousands of followers, influencers will assist you ensure that your content is viewed and engaged with by a very specific audience who is likely to be interested in your product.
Influencer posts with a conversational tone and personal narrative stand out from the type of features- or sales-driven posts a business may create for the same product on their own page.
The importance of your communication is equal to that of your aim. You don’t want to inhibit an influencer’s originality or individuality, but you also don’t want them to post about something irrelevant to your brand. Determine how you want your influencer marketing strategy and message to be structured so you can keep to it later.
Source: influencer marketing singapore , business marketing