3 things you can’t miss in your Influencer Marketing strategy
Having an elaborate influencer marketing strategy is the key to understanding what results you can expect and to be able to use the method properly in your overall marketing throughout the year. In this blog post, we will highlight the three most significant elements you must incorporate in the strategy.
Brands that were the leaders in influencer marketing 2-3 years ago tend to work the same way still today. The industry is changing more rapidly than that though – and working with influencers requires that you formulate and evaluate your plans year after year. When you develop your influencer marketing strategy, you need to have both a long-term thinking and a concrete method of how to work with influencers on a continuous basis.
1. Setting relevant KPIs
Without KPI:s and appropriate key ratios, it will not be possible to measure the effect of your marketing efforts. It applies to every effort (from Facebook ads to TV commercials) – you need to know exactly what purpose the influencer marketing should fulfill and how you should evaluate the results. Make sure you adjust the KPIs over the year, depending on the different campaign periods.
Read more about how to set the right KPIs in our guide ”How to Measure ROI in Influencer Marketing”.
Since influencer marketing is a relatively new medium, it can create uncertainty about what results you can achieve. An influencer marketing agency can help you to do a professional assessment of how influencer marketing can contribute to your overall goals, and also help you pinpoint the right KPIs.
2. Estimating expected effect and ROI
In order to present an elaborate strategy, you need to define the expected results of your investment, even before it has been implemented – both for the marketing department and for the rest of the company. Cure Media has developed a specific framework that can help you calculate an estimate on the effect you can achieve with influencer marketing. With the expected ROI you will have a beneficial tool to demonstrate results and justify the value of influencer marketing internally – and why you should (or should not) invest a significant part of the total marketing budget on this channel.
3. Defining a clear activation plan
No strategy is complete without an activation plan! Just as you define when, how, and in which TV channels the commercials should run, you need to plan the setup for activation of the influencer marketing. An influencer initiative should not only include publication ad-hoc but requires a detailed schedule to facilitate you and the collaborating influencers. The influencers can plan their workday, and you can organize the different content pieces that should be distributed and published throughout the year. Remember: the brands that achieve great results over time are those that work methodically and have continuity with on-going content, in the right place at the right time.