Influencer marketing. We’ve all heard about how effective it can be – in fact, most marketers now have it in their everyday marketing mix or have used the tactic in the past.
If you don’t already have a handle on influencer marketing, it’s time to get started. Why? Because influencer marketing can increase your brands connection with your target audience through authentic storytelling and valuable advocacy that can only be created through a trusted third-party source – which can ultimately increase your own influence and ROI.
Before entering the world of influence marketing, certain questions need to be asked: Which influencers are the right fit for my brand and how do I find them? How do I create a relationship with the right influencer? How should I compensate them?
In the spirit of giving, we want to give you advice on the best practices of how to give and take when in an influencer/brand relationship. After all, the essence of the influencer/brand relationship is built on reciprocal exchanges!
Set your goals
As with every strategy, it’s crucial for you to know your goals before entering in a relationship with an influencer. It’s especially important in this case as you are asking someone else to execute your idea. Being clear on goals will help streamline your vision and will get you the right influencer.
Find the right fit
With your goals in mind, you’re ready to find the right fit – this is where the giving and taking begins. You want your campaign to help you reach your goals but also ensures your influencer will build strong content that helps them reach their goals.
For your brand to look its best and for your influencer program to look seamless, it’s important to look for fit – meaning your campaign aligns with the influencer’s brand and vision – not only how many users your influencer can reach. It is important to look at the quality of content the influencer is publishing and how many people engage with the content. The question to ask is, what kind of value can your influencer bring to the table and what value will you bring them?
Create a partnership
When you’ve found the right fit to reach your goals, treat the relationship you are about to build with your potential advocate as a partnership. By doing so, you are allowing for a natural relationship to be built and for great content to be developed. Seeing as you’ve chosen your influencer for a reason – for quality of content, creative thinking and/or a healthy following – take in their vision all the while being clear with your goals. The beauty of developing a partnership is that it allows for a relationship that can last for the long-term, not just one specific campaign.
So you’ve created your partnership, now what? How do you compensate your influencer? To be clear, many different types of influencers make their living off partnerships developed via influencer marketing. It’s important to remember that creating content takes time, effort and skill for all influencers. Therefore, it is vital to leave some budget aside for compensation. Know what you’re asking, negotiate with your talent and remember that you’re “buying” their influence via the audience that they have worked hard to build.
All in all, influencer marketing is relationship-building and like any relationship, knowing to give and not just take is vital. Whether you are giving product, creative freedom or status, make sure you know what is expected from you and from your talent for your campaign.
Want to know more about influencer marketing to build on your campaigns? Contact us!