Without a doubt 2017 was the year of influencer marketing and I don’t expect this trend to stop any time soon.
This year Influencer marketing will continue to grow, with brands fighting to work with the best Instagrammers, YouTubers and Bloggers in the social sphere, hoping to grow their audience and increase sales.
The question for a lot of people working in the affiliate marketing industry is, how do you make brand engagement campaigns as cost-efficient and profitable as traditional affiliate marketing?
For years, PR and communication teams have worked with influencers for branding and SEO strategies, sending products to review and paying a flat fee, although with those campaigns brands were spending a lot of money and they could barely track clicks; let’s not mention sales!
Some will say that influencer marketing strays from the traditional affiliate marketing model, although it ultimately results in a better return on investment than the traditional channel if done successfully.
Here are my top 5 tips for running a successful influencer marketing campaign.
1: Do your homework.
Finding the right influencer can be hard work. If you’ve never run an influencer campaign before, stick to 5-10 influencers max that really engage with your brand. The biggest challenge is to recruit the right influencers and convince them to work on a performance marketing model. If you’ve done that, you are half way to success!
2: Start Using Influencer Marketing Tools.
There are some great tools that can help with your influencer marketing campaigns. Companies like PopularChips will help you plan a more accurate Influencer Marketing strategy – they have created an amazing Influencer Search Engine and Analytics Platform that provides data-driven solutions for brands and agencies. You can check how strong an Influencer is compared to others on Social Media; how influencers rank; how many likes and comments they average, their level of engagement and their demographic reach.
If you’re not sure how much to pay an influencer or if you think you’ve been overcharged, companies like SocialBlade will help you understand how much money an influencer is generally making per day/month, providing information such as estimated earnings and future projections. Statistics are free and available to anyone!
3: Talk to influencers like human beings.
Forget the words affiliate, joining our programme, CPA, tracking link, conversion rate, optimisation plan, increased exposure. Start instead with a simple greeting to show that you are friendly, and you are talking the same language, what about starting with:
“Hi Laura, (yes, they do have a name!),
I am Viviana and I work at Acceleration Partners. I love your instagram, especially your last post about travelling in New Zealand, what an adventure!
I have a great idea on how we can collaborate together, one on my clients is in the travel sector and you’ll be the perfect brand ambassador for a campaign I am working on!
Let me know if you are interested and I’ll share more details with you.
Have a lovely day,
4: Be prepared to revisit your payment structure.
Don’t say you are offering 3% CPA. Hybrid solutions of a flat fee plus commission help control the costs and still reward the influencer for their work. If the influencer asks to get paid a flat fee of £250 plus commission, the payment can be structured as follows: £50 to post + standard CPA + tiered-bonus payouts for 5, 10, 50 sales and so on. If the targets are met, the influencer gets the opportunity to earn much more than the originally proposed flat fee and rest assured you’ll gain their trust.
5: Follow FTC Guidelines for Influencer Marketing.
If you want to avoid any legal troubles, make sure the influencers you work with clearly state that they’re being compensated for promoting your brand. As with any other channel, it should reflect the basic truth-in-advertising principle that endorsements must be honest and not misleading.
Want to find out more about working with Acceleration Partners’ team of affiliate marketing experts? Get in touch with our team today.