The Merriam-Webster Dictionary defines the word influencer “as a person who is able to generate interest in something (such as a consumer product) by posting about it on social media.” Today, influencer marketing has become a crucial component of many brand’s marketing plans, becoming one of the fastest growing methods for customer acquisition.
Working at a full-service marketing agency, I have had numerous opportunities to work with influencers for clients across the spectrum. Over time, I have learned a countless number of lessons which has helped me to represent my clients better and find the right fit for the brand. Take a look at the top 3 lessons I learned from working with influencers:
1. Choose your influencers based on the target market you’re going after
This almost sounds like a no-brainer, but I’m always shocked to see local brands working with influencers who do not have a large impact in the local market. For instance, imagine a local restaurant partnering with an influencer who has over 20,000 followers, but only 5% of those followers live in the vicinity of the restaurant. Since influencers often charge by the number of followers they have, you would be paying a premium to speak to a small piece of the pie. Instead, Impact suggests that working with micro-influencers who tend to have higher engagement rates at a much lower cost. Additionally, make sure that you’re finding an influencer that aligns with the geographic market you’re going after! It’s all about finding the sweet spot between cost and engagement with the right target market.
2. Don’t be fooled by vanity metrics
I can’t tell you the number of times that influencers have sent me metrics about their platform(s) only to find out later that they were all vanity metrics. Some influencers buy followers and likes to make it seem like they have more engagement than they really do. Take some time to check individual followers and the comment section to see if anything seems suspicious. You can also use online tools such as this Instagram Audit Tool to analyze Instagram accounts for fake followers and likes or this Instagram Influencer Earnings Calculator to get an understanding of what an influencer’s post should be worth, based on their engagement rate.
3. Make sure the ROI is worth the cost to you
When working with influencers, you’ll notice that each contract is unique to the individual. Some influencers will ask for more complimentary services/products in exchange for reduced rates, while others will just charge a higher rate. The truth is, there are no rules in influencer marketing and it’s up to you to identify what they’re worth to your business. If it’s my first time working with an influencer, I always take the top tips into consideration to come to an agreement on a rate that doesn’t pose too much of a risk on me. Make sure to always ask for analytics after the campaign (work it into the contract!), so that you can see the ROI they have had on your business. Additionally, it’s okay to say no to influencers. If they’re simply asking for too much in exchange for their services, let them know. Most of the time, they will work with you to find a cost/exchange that is reasonable. As you continue working with influencers, use the analytics to determine if the ROI is worth the exchange of services/costs.
Have you worked with influencers before? I would love to hear more about your experiences! Feel free to share any tips in the comments below.
Social Media Posts:
Facebook: First time working with an influencer? Not sure what to look for? Here are the top 3 lessons I learned over time: https://bit.ly/2YkcLcw
Twitter: Know the value of influencer marketing & how to maximize it for your business! Here are the top 3 lessons: https://bit.ly/2YkcLcw