While numerous companies sell a particular product, not every business will scale. Why is that? Maybe it is because consumers find that specific product useful or helpful in their everyday lives. Or, perhaps it was endorsed by a particular celebrity or a social media influencer, aka “influencer marketing.”
But is it worth the hype? Whether a large athletic footwear brand or a small boutique clothing line, influencer marketing is an effective way to scale. Influencer marketing is a marketing strategy that brands and influencers collaborate to endorse products or services, usually through audience engagement on social media.
But how can you leverage influencer marketing? Here are five quick ways to scale your business:
- Find the right influencer to endorse your products.
The first step in influencer marketing is finding the right influencers to promote your brand and products. Their expertise and experience should match your industry and requirements. In addition to that, decide whether you want to work with mega influencers or micro-influencers.
First, before even approaching influencers, set your marketing campaign’s objectives and goals and share this information with selected influencers. Make sure your objectives and goals are measurable, achievable, relevant, and have a timeframe. Be specific: age range, gender, work experience, followers count, location, etc.
Once you finalize everything, you can search for the right influencer via multiple sources. You can manually search for influencers on various platforms or channels. Make a competitor comparison and look for similar influencers in the industry with similar audiences.
Need more assistance? Many tools help brands identify suitable influencers to represent their brand.
- Let them promote your brand story.
Brands should let influencers promote their story who are just starting or are trying to expand their business via influencer marketing. You can take ideas from the influencer and discuss what they could do to help promote your brand. Make sure you are open to ideas. This way, you can gain your influencer’s trust.
Storytelling is an excellent way to connect with your target audiences personally. And for this, your influencer will be able to help you tell your brand’s story in an authentic and fresh tone.
Talk to your influencer in detail and discuss the best way to promote your brand or products. Check what method they would like to follow that works best for your target audience and followers. Once you’ve completed a brainstorming session, you can begin a marketing project.
- Giveaways do work
Giveaways not only help brands with followers and brand awareness, but they also give your target audiences a chance to try your product. This way, they will also recognize the factors that distinguish your product from your competitors’ which will then help scale your business and increase your customer base.
You have to ensure that the rules and conditions of the giveaways are clear and straightforward before you reach your influencer with the idea. It is essential to provide something that your target audiences find valuable and helpful; otherwise, making your customers join the content would be slim.
If you don’t have much idea about hosting giveaways, you can ask your influencer to create the rules. You can check them and make necessary changes if needed before you approve. You could also work with your influencer on giveaways to know what to expect and your end goals.
- Define your budget
Set a budget both for the initiatives and the influencer themselves. Here are a handful of ways that you can use to decide your budget:
- Cost per click
- Providing free products or services in exchange
- Cost per engagement
- Pay per post
- Cost per acquisition
When you are creating a marketing plan, you should include everything. Make sure to keep in touch with your influencer for status updates. They can sometimes get overwhelmed with work. So to reach a milestone on time, create a calendar and share it with your influencer. Then you both will know what to expect the next day.
Influencer marketing will keep changing and evolving with brands and customer requirements. As an entrepreneur, learn to adapt to these changes and implement them in your strategies. A good design and a significant influencer will go a long way to a successful marketing campaign.