With increasing digital content consumption and the influx of newer content sharing modes, influencer marketing is evolving. Brands are employing sophisticated customizations in messages and measuring outcomes of marketing efforts. Already, performance marketing is on the rise, leading to payments based on marketing campaigns’ impact. Thus, in the world of influencer marketing, competition is turning stiff.
Staying competitive in this scenario requires thinking outside the box. Here are some strategies to help you bag the winner’s place.
Tips for outmanoeuvring competitors in influencer marketing
The fundamentals of influencer marketing are similar to other advertising formats. The Holy Grail is to provide value instead of focusing on selling.
Show potential customers the experience they can expect from your products or service. Get your influencers to talk about the feel and perks of using your product.
Involve your audience in your influencer marketing campaign. Encourage them to post photos or videos while using your products with your brand’s hashtag. Such user-generated content often creates more of a stir than sponsored messages.
2. Add value for free with giveaways
People love freebies. You can request your influencers to host giveaways to catch your target audience’s attention. Keep your participation criteria simple, such as commenting and following your account. It can get better engagement.
Once the customers sample your merchandise and start trusting your brand, they will return for more. Studies show that 8 out of 10 consumers purchase items after seeing it recommended by a social influencer. The social proof from influencers wins the consumers’ trust. Hence, such strategies can be valuable in driving sales.
3.Stay relatable with micro-influencers
Bigger may not always be better when it comes to outperforming competitors in influencer marketing. Rather than the number of your influencer’s followers, their post engagement matters more. It helps you gauge if the audience is paying attention to what your influencer says.
Micro-influencers may have lesser followers. But serving to a niche audience, they connect more to their followers through one-on-one interactions. They know how to communicate with their followers to generate the right response. Their audience identifies with them, finding common ground with their personality and lifestyle. Their fan bases are thus more devoted to them.
The result – even influencers with less than 1,000 followers can yield better engagement rates than celebrities.
4. Consider long-term partnerships with influencers
A long-term partnership gives your influencer in-depth insights into your brand ethos, tone, and style. When they are personally invested in your brand’s success, their efforts to resonate with the audience improve. Also, you have more say on how the campaign pans out without having to oversee every minute aspect.
But the relationship needs to be a two-way street for the success of influencer marketing. If your brand is the only party receiving benefits, you may fail to partner with top-level influencers.
Recognizing these criteria for staying ahead in influencer marketing competition, leading stockbrokers Angel Broking launched Amplifiers. This influencer marketing platform spreads investment awareness through the engaged fan base of registered influencers.
Angel Amplifiers provides influencers with adequate training and quality content creation tools. Networking with peers and industry leaders keeps the influencers up-to-date on the latest developments in the field. Also, transparency in payments earns the influencers’ loyalty to the brand, making them more invested in the campaigns.
In 2020, 65% of the brands were planning to increase influencer marketing budgets. . Using this channel effectively can upgrade your arsenal of marketing strategies. And long-term collaborations with the right influencers through influencer marketing platforms can help beat your competitors in influencer marketing.