In today’s digitally connected world, influencer marketing is quickly becoming a vital technique used by savvy marketers to increase their brand recognition. The advent of social media platforms has given rise to numerous online influencers who enjoy a wide and varied audience base. Social media platforms like Facebook, Instagram, Twitter and YouTube have countless influencers who are collaborating with all kinds of brands under the sun.
At present, Instagram influencer marketing is the preferred choice for most brands, but other platforms like Facebook and YouTube also have their own set of influencers that cater to different demographics. Facebook occupies the top spot for the number of active users worldwide while YouTube follows as a close second. Additionally, many up and coming platforms like Roposo, Telegram, Trell and Chingari are adding the much needed variety and flavour to influencer marketing in India.
What is Influencer Marketing?
Influencer marketing is a form of marketing that involves using key social media influencers to increase brand recognition. By collaborating with an online influencer, brands can market their products and services to a large audience base with ease. Instead of reaching out to multiple potential customers individually, influencer marketing enables brands to leverage the audience base of a popular social media influencer.
Nowadays, most organizations are realizing that influencer marketing is an immensely cost-effective method of reaching potential customers. The right strategy, when paired with the right influencer, can work wonders for a brand.
However, there are still many people who ask themselves ‘What is an influencer?’
The answer is quite simple. An influencer is a key leader and authority figure who can influence a target audience. When popular influencers endorse a certain brand, it works as a testimony to their audience that the brand can be trusted.
According to Adweek, the influencer marketing industry is expected to reach $10 billion in 2020 Furthermore, it is expected that this number will increase to a staggering $15 billion by 2022. Considering such statistics, you can very well imagine how important it has become to make influencer marketing a part of your overall marketing efforts.
Developing a Data-Driven YouTube Influencer Marketing Strategy
It would be safe to state that YouTube is a platform known to almost every internet user in the world. According to Statista, the popular video streaming platform has 2 billion users worldwide. Furthermore, a study conducted by Datareportal in 2019 stated that 79% of all internet users in the world have a YouTube account.
Such monumental numbers clearly indicate the wide reach that YouTube enjoys. This immensely popular platform can be used to leverage a data-driven influencer marketing strategy to enable cost savings and improve your ROI significantly. Following is a closer look at how to go about it.
How to Create an Influencer Marketing Strategy?
Like any other marketing technique, influencer marketing also requires diligent research and deliberate planning. Following are some key points that you need to keep in mind when creating a strategy for your brand.
Define Your Goals
The first step towards creating an effective influencer marketing strategyon any social media platform is to identify and define your goals – only then can you formulate a strategy to achieve them. In the past, brands have been known to err by blindly collaborating with an influencer without a clear picture of the kind of influence they truly want.
Social media influencer marketing provides a brand with many ways of engaging with their target audience. Some of the most common goals for marketers are creating brand awareness, introducing new products and increasing overall sales. However, other brands might be collaborating with influencers just to gain more social media followers or generate leads.
Having a clear set of goals in place will help you formulate an effective marketing strategy while also helping you pick the right influencer. By defining your particular goals, you will also be able to create more effective content alongside the chosen influencer. Furthermore, it will also help you identify Key Performance Indicators (KPIs) and other metrics to monitor and improve your campaign’s overall success.
Choose a Type of Influencer Marketing Campaign
Once you’ve identified your goals and laid down a framework of how you want to proceed forward, it’s time to decide upon the type of influencer marketing campaign that you want to use. While some influencers will only work with you on a payment basis, many others will be happy to promote your brand for other perks or benefits too.
For instance, instead of paying them, you can give them free or discounted products and services in exchange for an endorsement. Another plausible idea is to instate an affiliate marketing scheme wherein the influencer is given a percentage for all the leads or sales that he/she generates.
Ultimately, there are many mutually beneficial ways in which you can collaborate with an influencer. From downright payments to an influencer for becoming your brand ambassador to making use of discounts, contests and other freebies – the possibilities are limitless.
Identify and Define Your Audience
The next step towards effective social media influencer marketingis to identify and define your target audience. You might painstakingly set goals and decide upon a specific type of influencer, but these efforts will be in vain if you cannot reach your intended target audience.
It is highly important to find, identify and segregate the kind of audience you are looking to engage. This segregation can be based on various factors such as demographics, buying habits or even their likes and dislikes.
Once you have identified your target audience, it’ll be easier for you to find an influencer who they can relate to – someone who’s opinion and endorsement they will trust.
Find the Right Influencers
Finding the right influencers can be the key to your influencer marketing strategy.An influencer might not possess the required knowledge about your industry. Some might even be working for a competitor brand. For reasons such as these and many others, it is imperative to find an influencer who is right for your brand.
When searching for an apt influencer, you need to consider various points such as their number of followers, the kind of demographics they cater to and also their payment expectations and terms. While considering such options, you can also decide what specific type of influencer you want. The gamut runs wide – celebrities, social media icons, famous bloggers and industry experts are just a few examples that are viable options.
It bears mentioning who genuinely like your products and/or services will readily endorse them. In doing so, the content that they create in collaboration with you will be more authentic and heartfelt – something users will instantly recognize and believe in.
Find Influencers that Share Your Audience
Lastly, it needs to be ensured that the audience your influencer enjoys is the very same that you want to sell to. After all, there is no point in having an influencer pitch your products and services to people who don’t need them.
Take this for an example – people are less likely to believe in a fashion accessory endorsement from a YouTube gamer as compared to the same endorsement by an influencer with a fashion blog. However, if the same YouTuber collaborates with a gaming brand, people are bound to take note.
Social media influencer marketing is all about delivering the right message to the right people. So, make sure that you pick an influencer whose audience largely consists of people your brand is looking to target.
In the end, a data-driven YouTube influencer marketing strategy is the need of the day for any organization that wants to enhance and safeguard its success – now and in the future. It’s simple. The powerful reach of popular social media platforms coupled with a sound marketing strategy is a sure win for any business in the world today.
Budding and established influencers should consider Amplifiers as their preferred influencer marketing platform. Amplifiers helps influencers wade into the yet unchartered territory of stock trading in our country. To help influencers create unique and engaging content, the platform provides them with all necessary tools, including a massive content library and ready-to-use templates. Amplifiers enables influencers to guide their followers through the world of stocks and help them make the right investments. If you want to work with great people, collaborate with major brands and grow with your peers, here’s your chance. Registration takes less than 5 minutes and can be done here.