The digital marketing landscape grows more exciting by the day. Influencer marketing, in particular, is flourishing as more social media platforms become widely available globally. A 2019 survey conducted by Marketing Hub across 800 marketing agencies found that 86 per cent of respondents devoted a budget to influencer marketing – compared to only 37 per cent in 2017. And this number is only set to grow exponentially in the coming years.
However, despite the rise of influencer marketing as a viable digital marketing strategy, it still requires extensive research to ensure you hire the right key opinion leader who matches your marketing objectives. It is common to see many marketers treat their marketing strategy like a shot-in-the-dark. But that shouldn’t be the case for you.
If you wish to succeed in your campaign, you need structure and clarity. Everything you do must align with your overall marketing plan. This logic also applies to influencer marketing. You will need a well-thought-out roadmap and strategy to ensure this marketing tactic work for you. Let us share the five essential elements you need to consider for your influencer marketing framework.
Essential elements for your influencer marketing framework #1: Know your marketing objective
As the adage goes, “If you fail to plan, you plan to fail.” Therefore, it is essential to have clearly defined goals before you begin executing your marketing campaign. Carefully outline what you hope to accomplish so your team is clear on what they are aiming for. Additionally, you need to consider how working with an influencer can help you achieve these goals.
Essential elements for your influencer marketing framework #2: Know your target audience
Identifying your target audience is perhaps the most important factor you need to decide on before launching your campaign. Whom do you want to attract with your campaign? What are your ideal demographic and their interests and relevant values? These are all crucial factors you need to consider.
The target audience will determine how you execute your marketing strategies and which influencers and content creators you should hire. For example, if your products are aimed at those who are environmentally conscious, you would likely want to hire an influencer who produces content focused on saving the environment.
Essential elements for your influencer marketing framework #3: What are your key performance indicators
You’ve hired your influencer, and the content is ready to go, but how do you track whether your campaign is a success? To measure this, you are going to need to identify your key performance indicators (KPIs).
Having identifiable KPIs allows you to quantify and track the performance of your campaign and whether it is allowing you to achieve your marketing goals. With the relevant data, you will know how your campaign is performing and whether there are areas to improve upon.
Essential elements for your influencer marketing framework #4: Select your influencer wisely
Influencer marketing is not always as simple as hiring the most famous content creator and expecting the magic to happen instantaneously. You need to ensure the influencer you are working with has the same values as your company to ensure brand consistency.
Other factors you need to consider when selecting the right influencer include their track record and whether their personality aligns with the message you hope to deliver to your target audience. Having a clear idea of what your company represents allows you to choose the perfect brand ambassador for your product.
Essential elements for your influencer marketing framework #5: What is your budget
Your budget plays a key role in what you can do with your marketing campaign. However, you also do not want to overspend and not achieve your overall campaign goals. Therefore, balance is critical. You need to plan out your budget accordingly before you begin your marketing campaign.
Proper market research needs to be conducted beforehand to gain a better understanding of your niche and your market positioning. This will allow you to determine how much of your total budget you can allocate to your various marketing strategies, including influencer marketing.
Many businesses, big and small, have built new generations of consumers and grown their social media presence through influencer marketing. However, you should not assume their success is due to pure luck. Numerous hours have been dedicated to research and planning to ensure they engage the right influencer to market their products, leading to a successful campaign that is a hit with their intended target audience.
So if you are looking to include influencer marketing as part of your digital marketing strategy but are unfamiliar with the process, you should consider working with a trusted social media influencer marketing agency. At Kobe Global Technologies, we utilise AI-driven technology to pair brands with the right influencers that embody the companies’ values. Do not hesitate to reach out to us to assist you with your influencer needs.