Earlier this week, we were discussing the importance of paid ads on social media as opposed to influencer marketing in meeting the goals and objectives of our clients’ social media campaigns with our COO, Mr Deji Atunwa. Why is influencer marketing important? Is it as profitable as our clients think?
Embarking on a social media campaign requires a lot of planning and resource. As a brand, you want to know when to start and for how long you plan to run your campaign. You also want know your target audience and how to reach them. It is believed that influencers possess maximum, well, influence, on social media and have the ability to reach thousands of consumers at a time. They are authoritative, connected to your consumers, and trendsetters. So, why not? Right?
However, imagine spending a quantifiable sum of money on influencer marketing in hopes of increasing your conversion rates and providing awareness for your brand, without any impressive progress. You see the posts, monitor impressions, reach, and engagement and yet, your sales margin isn’t hitting the roof like you envisioned. What to do?
If you are wondering how suitable influencer marketing is in the next phase of your social media marketing campaign, here are a few things you should know:
1. Campaign Objectives Should Drive Your Decision
Before launching your social media campaign, it is important that you button down your campaign objectives. Are you campaigning to provide awareness for your brand? Or to increase your conversion rates? Which ultimately is the goal of every campaign, social media or otherwise. Every business wants to make profit!
At this point, what you should take into consideration is the type of influencers to use. Are they popular in your line of business? For example, on the insistence of the client, Vyrus Digital Engagement (Nigeria) ran a campaign for HP in 2017, using KraksTV as a social media influencer. Needless to say, KraksTv being a brand known for posting viral funny videos on social media had little influence on the targeted audience of HP. The concluded reason for the low turnover was that, people only visited KraksTV’s social media pages to view funny videos, not to view ads.
More importantly, do you want a micro influencer who would be interested in promoting your brand and make sure to encourage engagement with your target audience? Or a celebrity/macro influencer who would drop your campaign after posting once or twice.
According to a survey carried out by Tapinfluence/Altimer, 69.4% of influencers chose to be influencers so they could earn revenue. By implication, not necessarily for the passion of helping businesses grow. Before choosing influencers, identify your campaign objectives and align them with your marketing strategies.
2. Recognize Your Target Audience
Another thing you should take into consideration when choosing social media influencers, is your target audience. After segmenting your target audience, know where to find them. For example, if your brand is a fashion brand, you know Instagram is the suitable location of the young and fashionable.
This knowledge should in turn, help you determine the right influencer for your brand. As a Nigerian law firm, you have no business with a football influencer in promoting your business. Make sure to only align your brand with influencers who are prominent in your field.
3. Locate Your Niche
Finally, in building your brand, make sure to find your position in your work industry. If you run a chain store, e-mail and social media marketing will work well for you. Guarantee Trust Bank is a good example of a brand that has succeeded in creating a niche for itself in a competitive banking industry, especially with the *737# mobile banking hit. Be accessible. Position yourself in places where you can easily locate and engage your target audience and vice versa.
We’ve outlined things you should take into consideration when considering influencer marketing as a part of your marketing strategy. Endeavor to be involved in your campaign. Work with your influencers to ensure positive results. And remember, no one would be more interested in your brand than you.
Kindly drop a comment if you found this helpful!