In 2017, $1billion was spent on influencer marketing, a unique brand of advertisement. Companies, small and large scale, employed digital marketing to boost sales and earnings. The return on investment (ROI), from influencer marketing has reached a peak level according to Forbes.
The following are some of the most effective influencer marketing strategies to employ to build your business and brand in 2018:
1. Engage All Influencer Levels
Do not make the error of restricting your marketing plan to only celebrities and mega influencers. Micro-influencers are just as important, even more in some instances. 2017 saw a significant rise in the SEO of many businesses who employed the use of micro-influencers. Starting your marketing drive from the grassroots and working your way up is the effective route to take. While micro influencers have a more limited reach, they are able to actually interact with potential customers individually.
2. Use Videos and Visual Aids
The use of videos in marketing was a concept that finally became widespread in 2017. Quantifiable research has shown the effectiveness of videos in converting clicks to sales when compared to the use of text. Video marketing has become a mainstay, with around 75% of the traffic on the Worldwide Web, some form of marketing. Videos are also easier to integrate into social media, compared to text based ads.
3. Track Return on Investment
Your company’s ROI due to influencer marketing must be monitored to discover the effectiveness of each social influencer. There are various influencer marketing tools that helps keep track of the traffic and other activity each influencer drives towards your brand. Knowing what is effective or not, allows you to cut costs and change adjust your strategy.
4. Take Advantage of Instagram Influencers
Take advantage of the rapidly growing, untapped market potential of Instagram. With over 800 million monthly , Instagram is the largest market for influencer marketing. Hire Instagram influencers who will help promote your brand in an organic way. Explore the options available on Instagram, pick a user whose post history can be aligned with your brand and let them market your brand to their loyal follower base. Industry research has revealed that the value of Instagram influencer marketing is $1 billion dollars and this figure is expected to double in a a few years.
5. Improved Business-Influencer Relationship
Ensure your relationship with your influencers is not restricted to employer-employee only. Influencer marketing is more effective when the influencer was actually a fan of the brand, this leads to a more passionate promotion that does not seem forced. Monitor your influencers posts, to ensure your goals still align with their persona. However, you must give some creative license to your influencers to promote your brand.