Your brand identity is who you are, what you do, and how people view your brand. It’s not just the visible elements of your brand like color, design, and logo. But many people don’t trust brands, especially unknown ones. They don’t believe everything you tell them. That’s why you need to connect relevant influencers to build a strong brand identity.50% of Millennials trust product recommendations from influencers, while 92% of marketers believe influencer marketing is highly effective. Influencer marketing saw a dramatic rise in popularity during the pandemic, and many businesses now work with influencers to reach wider audiences and promote products. If you’re an entrepreneur looking to grow your brand, here’s how to win at influencer marketing.
Work with the Right Influencers
82% of consumers are more likely to follow a micro-influencer recommendation. Don’t be quick to rush to the big influencers, work with the less popular ones first. Also, choose an influencer with the same values as your brand.
Don’t get an influencer who loves burgers and chicken if you sell vegan and vegetarian products. If you sell business software, you’ll seem insincere if you work with a fashion blogger. Do your research upfront to avoid confusing your audience. Your influencers should mesh with your brand and be people you would associate with offline.Set Specific Goals
Brands that succeed at influencer marketing have specific goals—increasing brand awareness, boosting engagement, or generating revenue and leads. Your marketing goals will help you measure your campaign results. By looking at the key metrics, you can easily assess your performance.You can measure the impressions, likes, comments, and shares or create custom affiliate links for each influencer to keep track of purchases. Setting goals and measuring results will help you determine the ROI of your campaign and the value generated by each influencer.
Have a Big Enough Budget
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75% of brands dedicate precious budget dollars to influencer marketing, but the marketing medium is not cheap. The average cost of influencer marketing depends on the type of influencer you’ll work with.
- Micro-influencers: $100 – $500 per post.
- Mid-tier influencers: $500 – $5,000 per post.
- Macro influencers: $5000 – $10,000 per post.
- Mega influencers: $10,000+ per post.
Influencer marketing requires a big budget, and you’ll have to dig deep into your pockets. If you’re cash-strapped or don’t have enough money for the project, consider getting a title loan. You’ll get the money you need for marketing fast as the loans don’t have many title loans requirements like traditional loans.
Track YourInfluencer Marketing Campaigns
To track influencer marketing performance, assign tracking codes to your influencers. Tracking codes help you measure the source and performance of your traffic and conversions. You can also use hashtags to measure the success of your campaign. You can create a specific branded hashtag, like #BrandPartner, to track influencers’ performance. Some social media management tools help you easily track what’s being discussed with specific hashtags or watch for mentions of specific keywords.