The vast majority of marketers across the globe are increasing their influencer marketing budgets for 2019, and by 2022 Influencer marketing ad spend is poised to reach between $5 billion and $10 billion! A recent study also showed that a majority of marketers will spend anywhere from $25,000 to $100,000 on influencer marketing.
So, what makes a successful influencer marketing campaign? We’ve listed below what we believe to be the top five key components:
Identifying the right influencers is integral to your campaign, with 75% of marketers identifying it as their biggest challenge. Not all influencers are created equal, and knowing the difference between micro, power-middle, and top-tier influencers will help to determine who is right for your campaign.
Holding influencers accountable for driving business results is necessary for a successful influencer campaign. An effective influencer campaign utilises influencers who have the proven ability to engage with their followers, and inspire them to take action. The effectiveness of influencers is determined by engagement, clicks and conversions, not by their follower count.
2. Compelling Story
It’s important to create messaging that can be translated into a larger brand story – stories can affect consumers far more than billboards, statistics, or discount offerings. Information is better retained when it’s consumed in story-form, and influencers are effective storytellers, having amassed their following as a result of their ability to emotionally connect with and understand their followers.
3. Variety of Quality Content
As consumers pay less and less attention to traditional advertising methods, it becomes increasingly important for marketers to develop new ways to creatively capture audience attention. Influencer content is valuable because each piece is unique and produced in the same style that made the influencer successful in the first place, while presenting the brand’s core message in a manner that resonates with the audience. The content establishes an emotional connection between the influencer and their influencers, and is effective in inspiring action.
Content creator and Instagram guru, @allthatsheis, is a great example of how an influencer can use her style and creativity to capture the attention of her audience. Her carefully-curated feed, which she updates once a day, has become something of a modern art form. Major brands such as Disney, Dyson, eBay, Mastercard, and many more, have cottoned on to the Instagram influencer and have all commissioned her to run advertisements on her channels.
4. Actionable CTA
The call-to-action (CTA) should be short, direct and actionable. Consumers need to be offered something that they need, which will then drive them to the next step in the process. A strong CTA compels consumers to take the further action desired of them, whether it’s visiting a landing page in order to learn more about the product or brand, signing up for a mailing list, a giveaway, a coupon, or making a purchase.
5. Tracking your ROI
It's imperative when working with influencers to have a strong tracking mechanism. Ask influencers to use trackable links so you can measure traffic, engagement and, ideally, conversions on your site if possible. Alternatively, you could direct your influencer campaign into a branded landing page in order to measure the ROI of that influencer. The influencers can have as much free reign as you'll permit, as long as they drive their audience where you want them to go. Once on the landing page, you, as the brand, can incentivise the users and capture their lead info for measurement data and future communication.
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