Utilizing Influencers as part of your marketing strategy continues to be a hot topic. Business of Fashion (BOF) just published (for sale) a guide on How to Maximize Your Influencer Strategy. It examines the thoughts and strategies behind reaching your current and potential customers through Fashion Influencers. While social and content marketing should still be your primary marketing avenues a sprinkling of influencer marketing is continually being added as part of the mix.
According to Business Insider Intelligence, the value of the influencer economy is predicted to stretch to between $5 and $10 billion in global ad spend by 2022.
Influencer marketing can be expensive and it comes with no guarantees so it is best to do your research before expending any of your marketing budget.
Key Points One Should Consider
Have a clear vision of your objectives and who you are trying to reach.
The influencer campaign should start with documented objectives and KPIs that are measurable, including length of campaign, description of the person whom you are targeting, how and where you will target those individuals and specifically how you will judge the results.
When selecting an Influencer, do not focus purely on followers as brand alignment is a key factor. Fully understand who the Influencer’s followers are and if they fit your defined profile. Keep in mind that your goal is to elicit action. An Influencer popularity may be high but if they do not generate measurable results for your brand than the number of followers they have has little meaning to your campaign.
Influencers should be protective of their followers and not be willing to pitch your product for a quick payment. If they are not checking you out as much as you are of them than you might be walking down the viral marketing channel vs Influencer. Not that viral marketing can’t work for you but it is a different strategy entirely.
Try to develop a relationship with your Influencer(s). Identify her/his connection / interest in your product and how they work with brands. If they themselves would not wear / use your product on their own accord after being introduced to it, that Influencer may not be the right choice.
Allow the Influencer some creative leeway in how to fashion the outreach. The Influencer knows their followers the best and understands how best to connect with them. If the Influencer suggests a strategy or look & feel that does not align with your brand it is time to again question whether she / he represents the right fit for your campaign.
Consider starting with a small investment rather than an initial expensive campaign. Learn who your audience is, how to measure results and how closely your Brand may be aligned with an Influencer’s followers.