2020 Guide to Influencer Marketing | Margaux Agency

Guide to Influencer Marketing in 2020

The time is NOW to market while under the influence, but leave the booze and bad decisions at home. Today, we are sharing our pro tips and tricks for how your business can thrive utilizing influencer marketing. In the last decade, social media has completely revolutionized the way brands approach online marketing and how they interact with their audience. Different businesses and companies are competing against each other for consumers’ attention on every social media platform – from making viral dance clips on TikTok to starting meme challenges on Twitter.  They are constantly trying to influence consumers on YouTube, Instagram, and Facebook. Amidst this stiff competition across all channels, you and your brand need to do everything to stand out and win potential consumers over. A surefire way you can do this is via strategic influencer marketing. 

Influencer marketing has quickly become the go-to advertising strategy for various brands and businesses. In fact, it is slated to become a $5-$10 billion industry this year. This is exactly why you’ll want to include influencer marketing in your online marketing campaigns for 2020.   

People hear the term “influencer” thrown out all the time but what does it mean in a business sense? It’s not as simple as you may think and requires the right research and partnerships, so let’s take a closer look into the world of influencer marketing. 

What Is Influencer Marketing?

To put it in layman’s terms,  influencer marketing entails brands collaborating with influencers – people that enjoy a large and devout following on social media platforms – to promote their offerings and products. It shows great results since influencers are known as experts in their specific niches. For instance, a beauty blogger who provides the latest beauty trends and tips on their social media accounts will be automatically trusted by their followers to recommend the best makeup and skincare products. 

Influencer marketing allows brands to subtly promote their services and products via influencers in a way that doesn’t turn away potential consumers. Instead of blatant self-promotion, influencer marketing is based on the premise of asking a popular expert, or at least an admired and well-loved person whose opinion is widely trusted, to promote your product. 

You can choose to look at influencer marketing as the new-age advertorial. It works because we live in a social media-driven age, where we love to find out the products that your favorite bloggers, social media personalities, and celebrities love, endorse, and use. Additionally, since we admire these people, we are more likely to believe that the product they are promoting is of high-quality and the best of the best. 

How to Create a Successful Influencer Marketing Campaign

Now that you know exactly what influencer marketing is and why it is so effective, let’s take a look at 4 steps that will help you formulate the perfect influencer marketing campaign

1. Research

As with any other marketing campaign, the first step to a successful influencer marketing campaign is to do thorough research. Firstly, you need to know exactly what sort of demographic your product is aimed at. Additionally, you need to figure out which social media platform would be best suited to reach out to your chosen demographic.  

If you’re a business B2B organization, then you should probably think of running your influencer marketing campaign on a platform like LinkedIn rather than Instagram. If you’re in the hospitality industry, showcasing your amenities on Instagram will be key, as that is where you will likely find the most engagement. Whatever your field might be, you need to ensure that you are actually reaching your target audience. 

Next, you need to ask yourself exactly who are the most renowned and buzzworthy influencers in your industry. You should also know about all the up-and-coming influencers who are likely to gain lots of traction and a multitude of followers. This way, you will be able to sign contracts with them without paying exorbitant sums for their promotional services. Having a list of both well-established and relatively newer influencers will also help you reach a wide demographic of your target audience. 

2. Strategize

Once you’ve figured out exactly who you are going to reach out to, you need to come up with a comprehensive influencer campaign strategy. It should encompass everything, from the initial influencer traction to the total length of your campaign. You also need to know the long and short term goals of your influencer marketing campaign. 

You need to ask yourself these relevant questions:

  • Do you aim to increase sales of a particular product?
  • Are you looking to increase brand awareness?
  • What merits would make this campaign a great success?
  • What are the things that you need to avoid at all costs? 

Additionally, whatever strategy you come up with also needs to take your overall budget into account. You need to ask yourself these two important questions before starting your campaign:

  • What is the absolute maximum sum that you are willing to pay an influencer for this campaign?
  • How many followers should your chosen influencer have to merit this level of compensation?
  • Are you willing to negotiate in case your chosen influencer doesn’t like your offer?  

These are all vital questions that you need to answer before you begin your influencer marketing campaign. 

3. Begin Your Outreach Campaign

Now that you have a list of influencers and a marketing strategy, you can begin reaching out to your chosen influencers. If you have some micro-influencers (people with a few thousand followers) on your list, simply send them a direct message on their social media platforms. 

However, with large-scale influencers such as celebrities, you might have to take a proper course of action to reach out to them. It’s usually in the form of a link in their bio or on their “about us” page. If you try to reach them via direct messages, you can’t expect to get a reply from them as their inbox is likely stacked.

4. Assess and Tweak Your Influencer Marketing Campaign

Once you have booked your influencers and your campaign has started, try to keep tabs on all the various elements of your campaign. Make sure to note exactly how it’s going on a daily basis. Tweak the campaign along the way to ensure that it is being run at maximum efficiency. However, wait for the campaign to finish before you come to any large conclusions. 

The best way to review the performance of your campaign is to wait for a couple of months after its end. This way, you will have a clear picture of exactly how it affected your sales and brand awareness.  Once you’ve compared your results to the initial goals you set, you can start tweaking your strategy for your next campaign. 

To wrap things up, influencer marketing is the ultimate tactic that can share your brand with the masses in a modern, buzz-worthy way while offering new modes of engagement with your target audience. In the long run, influencer marketing is one of the most effective ways to build a loyal follower base. 

We hope you found this guide to influencer marketing useful. If you would like to learn more about influencer marketing and how it can help your business grow, then get in touch with Margaux Agency. We provide digital and social media marketing services and specialize in content marketing and social media management and advertising, among other things. Reach out to us today to take full advantage of influencer marketing.  

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