Influencer marketing is disrupting the way brands reach their target audience and more and more companies are starting to realize the potential of this booming marketing channel. Some companies are extra successful and have managed to make influencer marketing an integrated, and crucial, part of their media mix.
So, why do some companies struggle while others succeed? In this article, we outline three of the things that so-called influencer marketing brands have in common, and why it makes them so successful.
They have an elaborate strategy in place and plan for the long term
Defining a clear strategy for your influencer marketing from the start is equally important as for all your other marketing investments. Still, this crucial step is many times overlooked in the quest to get quick results.
An elaborate strategy gives you an overview of your investment and desired results, which can reduce potential skepticism internally and help you work methodically towards your goals. By setting relevant KPIs and defining your target audience properly, you will also be much more likely to see long-term results compared to if you “try a little and see what happens”. Finally, with a plan in place, you and your team will be better prepared to scale up your influencer marketing for those products or on the markets that have proven to be the most successful. It will also be easier to motivate why you should move budgets, from traditional media channels, to influencer marketing.
They set aside a considerable budget, percentage wise
Even though research shows that brands increase their spend on influencer marketing, it still constitutes a relatively small part of their overall marketing budgets, in terms of percentage. This, despite the fact that 80% of marketers find influencer marketing to be an effective strategy.
The companies that are really successful with influencer marketing know that they must set aside a considerable, percentage wise, on influencer marketing. They donot just spend the money that is left when the marketing year is coming to a close. Instead, they realize the value in the channel and are prepared to pay for it (and of course, eventually gain ROI).
Even though your marketing budget may not be as big as of the global multi billion dollar companies, you need to treat it with as much love (and money) as your other marketing channels if you want return on your investment – and more.
They have an always-on approach and work consistently
Every day, or even every hour, we are exposed to thousands of brand messages. Influencer marketing can be an excellent strategy to cut through the noise and reach your target audience. The companies that are successful know that one single collaboration every now and then won’t make a difference. The key is to work consistently and have an always-on (rather than campaign-oriented) approach to your influencer marketing.
So what is an always-on approach, you ask yourself? An “always-on” strategy is exactly that – content that is always on, always on top of mind through relevant influencer collaborations, and well-saturated across several social platforms, where you target audience is to be found.
Influencer marketing is not just for large brands with millions of dollar to spend. The important thing is that you define a clear strategy that is aligned with your overall business goals, invest enough time and budget (with regard to your goals), and that you make sure to stay top of mind with your target audience though an always-on approach. Good luck on your quest to become a true influencer marketing brand!