{"id":635,"date":"2019-03-26T17:31:34","date_gmt":"2019-03-26T12:01:34","guid":{"rendered":"https:\/\/rzplearn.com\/?p=635"},"modified":"2020-06-02T15:33:51","modified_gmt":"2020-06-02T10:03:51","slug":"influencer-marketing-stratgey","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/influencer-marketing-stratgey\/","title":{"rendered":"Influencer Marketing: The Simplest Approach to Make Your Business Go Viral"},"content":{"rendered":"\r\n

Influencer Marketing has gained massive popularity in the last few years.<\/p>\r\n\r\n\r\n\r\n

It has turned out to be the fastest growing marketing approach in the world, becoming one of the most effective ways to grow a brand or a business.<\/p>\r\n\r\n\r\n\r\n

According to Influencer Marketing Hub, Influencer Marketing is predicted to grow from $3 billion in 2017 to $6.5 billion in 2019. \u00a0<\/p>\r\n\r\n\r\n\r\n

Marketers are also allocating at least 20% of the budget for campaigns.<\/p>\r\n\r\n\r\n\r\n

And so, it has become a go-to trend for most marketers to generate leads, increase engagement, and maximize conversions.<\/p>\r\n\r\n\r\n\r\n

What is Influencer Marketing?<\/strong><\/h2>\r\n\r\n\r\n\r\n
\r\n

Influencer Marketing is a form of marketing that focuses on broadcasting your business and its views to a broader audience through key industry connoisseurs, often called \u00e2\u20ac\u0153Influencers.\u00e2\u20ac\u009d<\/p>\r\n<\/blockquote>\r\n\r\n\r\n\r\n

This works well for all types of businesses, no matter if it\u2019s a startup wanting to be recognized or a huge business launching a new product. <\/a><\/p>\r\n\r\n\r\n\r\n

Why Influencer Marketing works<\/strong><\/h2>\r\n\r\n\r\n\r\n

In the virtual realm where content creation takes no backseat, it can get stiff for consumers to cut through the fluff to find any context, or believe in the content, even.<\/p>\r\n\r\n\r\n\r\n

Consumers are growing exceedingly weary of ad campaigns, leaving very little room for businesses to project their content that resonates with them.<\/p>\r\n\r\n\r\n\r\n

Parallelly, businesses aren\u2019t adequately able to stand out in the consumer\u2019s eye. And, this is precisely where Influencer Marketing comes in.<\/p>\r\n\r\n\r\n\r\n

As mentioned earlier, consumers believe people over faceless ads.<\/p>\r\n\r\n\r\n\r\n

Influencers act as brand advocates and produce quality content keeping their audience in mind and work towards distributing them in a manner that is understood and appreciated by consumers.<\/p>\r\n\r\n\r\n\r\n

They help captivate them,<\/a> which in turn, helps in retention. \u00a0<\/p>\r\n\r\n\r\n\r\n

How to choose the right Influencer for your business<\/strong><\/h2>\r\n\r\n\r\n\r\n

The first step to Influencer Marketing is identifying its purpose.<\/p>\r\n\r\n\r\n\r\n

Define WHY you want an influencer to advocate your business and what you aim to accomplish through it.<\/p>\r\n\r\n\r\n\r\n

These are a few results you should aim to accomplish.<\/p>\r\n\r\n\r\n\r\n

    \r\n
  1. Increased reach of content<\/li>\r\n
  2. Brand awareness<\/li>\r\n
  3. Blazing engagement<\/li>\r\n
  4. Consistent traffic<\/li>\r\n
  5. Higher retention<\/li>\r\n<\/ol>\r\n\r\n\r\n\r\n

    Keep in mind your domain and your goals to figure out what kind of Influencer works best for your business.<\/p>\r\n\r\n\r\n\r\n

    Mega Influencer<\/strong><\/h3>\r\n\r\n\r\n\r\n

    This is someone who has over a million<\/strong> followers, driving about 2%<\/strong> to 5%<\/strong> engagement through each post.<\/p>\r\n\r\n\r\n\r\n

    They are typically actors, models, athletes, and social media celebrities.<\/p>\r\n\r\n\r\n\r\n

    They reach the largest umbrella of people because they\u2019re celebrities and they\u2019re their own brand.<\/p>\r\n\r\n\r\n\r\n

    However they also have lesser impact when it comes to representing a business and driving actionable campaigns on its behalf.<\/p>\r\n\r\n\r\n\r\n

    \r\n
    \"Beyonce's<\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

    Macro Influencer<\/strong><\/h3>\r\n\r\n\r\n\r\n

    Someone with about 10,000 to a million <\/strong>followers, driving about 5%<\/strong> to 25%<\/strong> engagement through each post, can be considered a Macro Influencer.<\/p>\r\n\r\n\r\n\r\n

    Bloggers, industry specialists, businessmen, journalists are a few examples of macro influencers.<\/p>\r\n\r\n\r\n\r\n

    Your target audience can relate very well with them because of their domain-specific knowledge and expertise.<\/p>\r\n\r\n\r\n\r\n

    Micro Influencer<\/strong><\/h3>\r\n\r\n\r\n\r\n

    This is someone with 1000 to 10,000<\/strong> followers, driving close to 25%<\/strong> to 50%<\/strong> engagement through every single post.<\/p>\r\n\r\n\r\n\r\n

    Their network and domain knowledge is very sound, which in turn, gives them the highest brand relevance on the gamut.<\/p>\r\n\r\n\r\n\r\n

    They work closely with brands and businesses based on their personal experience with a brand or a product, creating an honest relationship among both brands and target audience.<\/p>\r\n\r\n\r\n\r\n

    What next?<\/em><\/h2>\r\n\r\n\r\n\r\n

    Connect with your Influencer<\/strong><\/h2>\r\n\r\n\r\n\r\n

    Once you know who you want to work with, find a way to connect with them.<\/p>\r\n\r\n\r\n\r\n

    This is the most challenging part in Influencer Marketing because it is absolutely necessary for the Influencer to align themselves with what your brand stands for.<\/p>\r\n\r\n\r\n\r\n

    There can be instances where the Influencer has already mentioned your business in their content.<\/p>\r\n\r\n\r\n\r\n

    This can be a gateway for you to approach them because they already believe in your brand. Once you have this out of the way, your job is pretty much done!<\/p>\r\n\r\n\r\n\r\n

    Talk money with your Influencer<\/strong><\/h2>\r\n\r\n\r\n\r\n

    The biggest mistake possible would be not providing competitive compensation to your influencer, which can possibly make them drop the whole project.<\/p>\r\n\r\n\r\n\r\n

    The key is to find a balance which works well for both you and the Influencer.<\/p>\r\n\r\n\r\n\r\n

    These are some compensation plans to consider:<\/strong><\/p>\r\n\r\n\r\n\r\n

    Pay per post<\/strong><\/h3>\r\n\r\n\r\n\r\n

    With ‘Pay per post’, you pay your Influencer a fixed chunk for every post they create, develop, and publish.<\/p>\r\n\r\n\r\n\r\n

    Pay per click<\/strong><\/h3>\r\n\r\n\r\n\r\n

    PPC or pay per click is a common payment\/bidding way in performance marketing.<\/p>\r\n\r\n\r\n\r\n

    With this type of payment, you’re essentially paying only on the total number of clicks you receive on your landing page, driven by their campaign<\/p>\r\n\r\n\r\n\r\n

    Pay per engagement <\/strong><\/h3>\r\n\r\n\r\n\r\n

    With pay per engagement, you pay your influencer on the total number of engagements on a piece of content<\/p>\r\n\r\n\r\n\r\n

    Pay per conversion<\/strong><\/h3>\r\n\r\n\r\n\r\n

    Whenever someone purchases a product who’s directly come from your influencer campaign, you pay a commission to the influencer.<\/p>\r\n\r\n\r\n\r\n

    Set-up your Influencer Marketing campaign<\/strong><\/h2>\r\n\r\n\r\n\r\n

    Whether you\u2019re launching your business or a product, get involved in content creation and an approach that really makes an impact on your target audience.<\/p>\r\n\r\n\r\n\r\n

    You are essentially employing your Influencer to create content and distribute it. It\u2019s definitely best if you\u2019re a part of the strategy your Influencer will use to work on promoting your business or product.<\/p>\r\n\r\n\r\n\r\n

    \r\n
    \"Amelia<\/a><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

    This also helps your influencer make better sense of what the business or product stands for, helping them work on the campaign in a significantly better manner.<\/p>\r\n\r\n\r\n\r\n

    Target what social platforms you want to focus on, the kind of content that needs to be created, and a distribution plan.<\/p>\r\n\r\n\r\n\r\n

    Your plan should essentially focus on the type and frequency of posts, and a way to measure the results. Experiment with images, YouTube videos (vlogs), blogs, and infographics.<\/p>\r\n\r\n\r\n\r\n

    Evaluate your Influencer Marketing campaign<\/strong><\/h2>\r\n\r\n\r\n\r\n

    This is probably the most critical part of running influencer campaigns. Understanding how your campaigns have performed helps you evaluate and optimize future campaigns.<\/p>\r\n\r\n\r\n\r\n

    Understanding how your campaigns have performed helps you evaluate and optimize future campaigns.<\/p>\r\n\r\n\r\n\r\n

    So, once your campaign has completed a cycle, be sure to go over the results to understand how it performed.<\/p>\r\n\r\n\r\n\r\n

    Analyze the ROI metrics that are most relevant to your campaign goals.<\/p>\r\n\r\n\r\n\r\n

    By analyzing the data in hand, you\u2019ll be able to see what works and fix what isn’t.<\/p>\r\n\r\n\r\n\r\n

    Reward your Influencer<\/strong><\/h2>\r\n\r\n\r\n\r\n

    Yes, we already talked about money. But rewarding your Influencer is a great way to show how much you appreciate their work.<\/p>\r\n\r\n\r\n\r\n

    It can be anything – an experience or a few products of your brand, even!<\/p>\r\n\r\n\r\n\r\n

    This helps establish good relationships with your Influencer, making them want to work with you in the future.<\/p>\r\n\r\n\r\n\r\n

    The bottom line<\/strong><\/h2>\r\n\r\n\r\n\r\n

    You may probably have a good idea of what an Influencer Marketing campaign can do to your business, and believe us – there are endless possibilities!<\/p>\r\n\r\n\r\n\r\n

    By actually carrying out a campaign, you\u2019ll end up building trust and relationships with your Influencer, as well as your target audience.<\/p>\r\n\r\n\r\n\r\n

    It\u2019s a win-win! <\/p>\r\n","protected":false},"excerpt":{"rendered":"

    Do you think your Content Marketing strategy has come to a stand still? It\u00e2\u20ac\u2122s time you turned to Influencer Marketing – a powerful approach to enliven your business!<\/p>\n","protected":false},"author":151156458,"featured_media":642,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1383],"tags":[1574,1570,1571,1573,1572],"class_list":{"0":"post-635","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-content-marketing","9":"tag-influencer-marketing","10":"tag-instagram","11":"tag-social-media","12":"tag-youtube"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156458"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=635"}],"version-history":[{"count":2,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/635\/revisions"}],"predecessor-version":[{"id":10422,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/635\/revisions\/10422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/642"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}