How Do You Scale Influencer Marketing?
It’s simple: You can’t grow without the right strategy in place.
Here are four key components to scale enterprise influencer marketing:
#1: Define SMART Goals
Before you scale your influencer marketing campaigns, it’s essential to (re)define SMART goals and metrics.
Do you want to drive traffic to a specific web page? Generate buzz for an upcoming event or product?
Defining your goals will help guide the type of campaigns you create, the influencers you work with, and your ideal influencer marketing ROI.
TIP: If you’d like to hand the reins over to experts, Later’s influencer marketing services team are trusted by top enterprise brands to manage their campaigns. Schedule a call to learn more.
#2: Set a Budget
How much budget will you allocate towards your influencer marketing strategy? Be prepared to consider costs for:
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Paying Influencers: Their rates can range depending on how many followers they have, the platforms they’ll be posting on, and the type of content they’ll create (e.g. static posts versus video).
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An Influencer Marketing Platform: Costs can range depending on whether you’d like ongoing monthly support or a one-off campaign.
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Additional Ad Spend: Will you want to use paid support to boost content created by influencers?
NOTE: There is no universal one-size-fits-all pricing rule for influencer marketing — many digital marketers adhere to a $250-$450 per 10K followers rule, as a starting point.
#3: Identify Ideal Influencers & Reach Out
While influencer marketing isn’t new compared to more traditional ads, many enterprise businesses point to not knowing how to find (and choose) the right influencers for their campaigns.
Here’s how (don’t overcomplicate it):
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Check Your Brand Mentions, Tags, and Relevant Hashtags: Set time aside to frequently monitor your tagged posts, comments, DMs, and search relevant hashtags to find influencers who could be a good fit. Then, reach out via email.
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Follow Industry-related Podcasts, Newsletters, and Events: Keep an eye on podcasts, events, and newsletters related to your industry: What do they talk about? Who do they interview? Who speaks on their panels?
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Use An Influencer Marketing Platform: Automate influencer discovery and outreach with Later’s influencer search tools.
Simple as that.
#5: Manage Your Influencer Campaigns
Once you’ve contracted your creators, we recommend breaking out your workflow into steps.
The key management components are: content reviews, communication with stakeholders, and processing payments.
Our top tip? Let Later’s services team handle it all to truly scale your efforts (more on that, later).
#6: Track Your Results & Refine Your Strategy
It’s important to track, monitor, and measure the results of your campaigns.
This way, you can see how the content performed and use it to inform future campaigns — whether it’s working with the same influencers, finding new ones, or refining your goals.
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