What sets apart one brand from the next when it comes to influencer marketing is its ability to develop quality content (e.g., articles, social media posts, videos, etc.) that drives measurable results. And that requires planning. So, not skipping the critical first step and, instead, creating a solid influencer marketing strategy is the key to developing campaigns that have the best chance of moving the needle for your business. A viral video AND ROI? Now, that’s a win-win! Read more about how influencer marketing strategy is a cost effective marketing solution that delivers terrific ROI for your brand in this report.
Tip! Don’t know your company goals? Haven’t set campaign benchmarks? Don’t have a clear understanding of your resources and processes? No worries! These 6 steps address what to do BEFORE you develop an influencer marketing strategy.
This post, designed to help you get all the pieces and parts in place to create your influencer marketing strategy, is the second in our “Comprehensive Guide to Influencer Marketing” 6-part series in which we discuss the 6 Things You Must Do Before Developing an Influencer Marketing Plan, How to Create Results-Driven Influencer Marketing Campaigns, 6 Influencer Marketing Campaign Management Best Practices, How to Successfully Manage Influencers, and 11 Influencer Marketing Tactics to Rock Your Campaigns.
4 Steps to Creating an Influencer Marketing Strategy
1. Set influencer marketing strategy goals and key results.
- Raise awareness.
- Increase consideration.
- Drive conversion.
- Ad clicks and/or impressions
- Affiliate sales
- Awareness (e.g., impressions, views)
- Creative assets (e.g. professional photographs, blog posts, videos, etc.)
- Coupon downloads
- Earned media
- Newsletter subscriptions
- eNewsletter click-through and/or open rates
- Engagement (e.g., comments, likes, shares, and regrams/repins/retweets)
- Giveaway entries
- Increased social media following
- Loyalty program or other service sign ups
- SEO (e.g., ranking high on search engines, getting backlinks, etc.)
- Third-party site reviews (e.g., Amazon, Walmart, etc.)
- User-generated content
- Increase awareness of pet-friendly travel content on blogs and YouTube from 1.2MM to 3MM impressions and views by December 31, 2017.
- Increase eNewsletter subscriptions from 2,000 to 10,000 subscribers per monthly by December 31, 2017.
- Drive 20% more user-generated content on blogs, YouTube, and across social media, including on third-party review sites like TripAdvisor by December 31, 2017.
2. Determine your budget.
Click here to learn what The Small Business Administration recommends for start-ups, small, and larger business advertising and marketing budgets. Read this article that shares a calculation based on sales to help you determine your ad budget.
Tip! The more you tie your goals to measurable results that improve your company’s bottom line (creating campaigns that pay for themselves and then some), the more you can justify dedicating a bigger budget to your influencer marketing efforts.
3. Develop a timeline.
- Key promotional times of the year (e.g., spring break, holiday)
- Potential campaign(s) that will support each season
4. Create a reporting structure.
Reporting meetings vary based on the location of your team, whether you are a small or a large group, how short or spread out the timeline is, and more. Create a format that works for your group (e.g., in-person meeting, video conferencing, phone conference call, etc.). Keep your meetings short and report out on your goals.
Not sure where to start? Let’s talk! Partnering with a professional influencer network, such as Mom It Forward Media, yields many benefits. We’ll meet with you to discuss your ideas, goals, and objectives. From there, we’ll develop a campaign that will meet (and hopefully surpass) your objectives. Does that sound like a plan? Contact us at email@example.com to get started.