E-Commerce Seller Financing • January 6, 2020
if you have even made a purchase inspired by a person on social media, then you’ve experienced the effect of influencer marketing.
As traditional advertising is becoming less effective, other marketing tactics are gaining more traction. Influencer marketing is one of them. It is not only effective but also lucrative. It can increase brand awareness, increase traffic to your website or marketplaces where you display your products, or generate regular sales.
Therefore, more and more brands are allocating at least a fraction of their marketing budget to influencer marketing.
If you haven’t yet, the New Year is a good time to incorporate influencer marketing into your advertising strategy.
Yet, you may not be entirely sure about how you should go about actually doing it. Let’s take a closer look at how your e-commerce business can do influencer marketing.
How to Do Influencer Marketing
1. Determine Influencer Marketing Strategy Goals
Before you start looking for influencers or reach out to them, first determine what your primary goal is.
Would you like to increase the awareness of your brand and grown the number of people who know about you and your products? Would you like to improve the SEO ranking of your site and improve the authority of your website? Or would you simply like to get more sales.
While you may automatically opt for more sales, there are benefits to various approaches to influencer marketing.
2. Define Your Target Audience
To proceed with this step, you will benefit from developing customer personas, fictional representations of your ideal customers. This will help you understand what type of content they would most like and would be most likely to like, follow, share, or comment on.
You also need to make sure the type of content that would benefit your brand and appeal to your target audience will also go along with the influencers’ regular content. Otherwise, your sponsored posts will come across as inauthentic and may repel your target audience.
3. Set Your Budget
Next, determine how much of your marketing budget you’d like to go to influencer marketing. This will help you determine what influencers you should seek. If you work with a very small budget, then working with influencers who have large followings may not be an option. Their rates may be too high for you to gain a sustainable return on investment.
In the meantime, you may start working with a few micro-influencers, r influencers with small followings. While you may not gain a lot of sales at the beginning, your influencers will grow along with your brand. So, if they remain loyal, your influencer marketing revenue will grow over time.
4. Look for and Review Influencers
Now you are ready to seek influencers. You can either use Google or social media platforms for that. Numerous tools can facilitate that for you.
Keep in mind that the tools will require investment. So, review their features and the platforms that they focus on before you go and purchase one. If available, consider trying their trial or demo version first.
Once you look for influencers, make sure that they meet your requirements. Take a look at the content that they post and if it aligns with your brand messaging. Are their followers real, and do they engage with the influencer’s content? Does the influencer interact with them and respond to their comments? Would working with this influencer fit your budget?
Make sure not merely get excited about any influencer. Carefully assess them before making any agreement.
5. Reach Out and Offer Collaboration
Once you know that an influencer would be the right fit, send them a direct message or an e-mail. Make sure to say something nice about their work and why you think that collaborating with your brand would be beneficial to them.
Make sure to nit just talk about the benefits that you would get. Mention what they will gain and how you will reward them. Will you offer discounts to your products or perhaps free samples?
6. Agree on Campaign Expectations
If the influencer has agreed to work with you, make sure to agree on all the details before you begin your partnership. Will you pay or reward them with other benefits? How will you pay? Will it be per post, for results acquired, or on a regular monthly basis?
How long will you work with each other, and how will you communicate? How would you like for the influencer to demonstrate the results?
7. Pay Your Influencers
Make sure your influencers don’t simply work for free. This can spread negative fame causing other influencers not want to work with you.
If you cannot reward with money, consider other ways, such as free products (which they could wear or use to promote your brand), discounts, or other benefits.
8. Measure the Results
Last but not least, always pay attention to how effective your influencer marketing campaign is. This will allow you to evaluate your future actions for even better results.
It may be a good idea to reward your most successful influencers with extra bonuses or special gifts for holidays, such as their birthdays. Going that extra mile can help you build a strong relationship that will pay off in the long run.
Would you like to do influencer marketing? Feel free to reach out to us with any questions you may have.