How To Crack Influencer Marketing For Your E-Commerce Business
Did you ever end up buying something because you saw your favorite celebrity endorsing it on Instagram? Well, that means Influencer Marketing worked its wonders on you rather well.
Call it a trend or a phenomenon, the concept of Influencer Marketing is fast making inroads in the business ecosystem. Influencers possess great power over the decision making process of people that follow them by virtue of their popularity. Mostly, because they are perceived to be credible sources of information without any affiliation to a brand/company.
Breaking it down for you, an “Influencer” is someone who has a massive social media and/or real life following, and is a person of influence over vast section of the population.
You being a new brand are always looking for ways to spread the word about yourself. Obviously, going on traditional advertising mediums are not practical because of intense competition and exceptionally high costs. A targeted Influencer Marketing campaign can give your business the right boost in terms of recognition and conversions. According to a Mckinsey report, about 20 to 50 percent of consumer buying decisions are influenced by word-of-mouth advertising. Influencer Marketing actively uses social media channels and uses the credibility of Influencers to promote content that is perceived to be trustworthy.
Advantages of Influencer Marketing:
- Cheaper than Traditional Marketing channels: OOH, TV, Radio spots etc. are expensive and the competition there is intense. This has exceptional reach and potency at a fraction of the cost.
- Targeted Approach for better returns: According to research reports, spending ₹68 on Influencer Marketing will yield returns of ₹442. Reaching out specifically to your target audience increases the impact and efficiency of your marketing campaign.
- Trust factor: Compared to branded company promotions, consumers employ more trust in opinions of family members, friends and persons of repute/influencers in terms of product and service adoption. Endorsements coming from such sources will see a greater adoption rate compared to paid messages from brands.
- Access to newer markets/customers: An influencer has massive reach because a large number of people follow them for certain type of content. Now, reaching to these people becomes easier via the influencer, who acts as a conduit between your brand and a ready market of people.
How can you make Influencer Marketing work for yourself?
- Getting the Influencer to do a product/service review: This is the one that comes to mind most obviously. Convince the influencer to exclusively review one of your products on their social media channel/website/blog. If the product is well received, you will get an endorsement from the influencer which will certainly affect conversions for you via word of mouth.
- Featuring Content from the Influencer on your blog: If you happen to have a blog, try and get the influencer to write a guest post for your own outlet. Otherwise, do an interview of the influencer and feature them on your blog post. This will drive their followers to your outlet and subsequently drive the traffic to greater heights for your site.
- Write content for the Influencer’s blog: Fancy your writing skills and your knowledge? Unscramble your thoughts and pen a gem of an article that will be perfectly poised to go up on the Influencer’s own blog. This will get you and your brand on a platform that already has massive following, which is potent publicity in our books.
- Product Placement: Next time the influencer decides to do a tutorial/product review video, make sure you manage to get your product/brand featured in it. Usage of your product/service by an influencer will showcase your brand in a positive light which will drive up mentions and publicity.
How to engage with an Influencer?
Think of this process as a first contact email/phone call/meeting with a prospective client. You need to condense your brand and products into a formidable package with intense appeal and pitch it to them.
- Find the right Influencer
Relevance – It will be wise to conduct prior research and understand Influencers and the content that they create. It is necessary for your brand to align organically with the Influencer’s style and product category expertise. Example: A fashion blogger will be the wrong choice for promoting a finance related product/service. Similarly, asking a tech blogger to promote a food product is counter-productive to say in the least. Reach – This aspect comes down straight to numbers. Assess the reach of the Influencers based on their digital following on social media channels. These channels will be leveraged to publish and promote content for your brand. Make sure your Influencer has a sizable number of followers that correspond to your target audience. If the said Influencer has a million followers, but less than 2 percent of that number fall in your target audience, then the effect of the campaign will diminish.
- Establish Contact
Once you have zeroed down on the Influencers, start connecting with them over social media to make yourself known. Like and comment on their posts with genuine interest. This is essential to break the ice and get your brand familiar to the influencer. Engage with the Influencers repeatedly over the course of a few weeks regularly to remain relevant. This will soften the blow of a cold pitch when you actually approach them in due time.
- Reach Out
Send out an E-Mail to the Influencer introducing your brand conveying the creative partnership that you have envisioned in your mind. Having a broad idea about the kind of content that you wish to co-create and promote will increase the chances of securing a nod from the Influencer. They also need to see all-round potential in the collaboration right away, otherwise they will not be bothered to associate with your brand. Not getting a reply to that first email you sent out? Don’t be disheartened. They are probably inundated with similar offers, and you need to be persistent in reaching out to them. Send out multiple emails at regular intervals and make sure that your offer stands out in terms of creative brilliance.
- Discuss Remuneration
Influencers will expect to be compensated for their efforts, either in cash or kind. Certain established influencers charge a flat fee for services rendered, which might be subject to negotiation. Some might also settle for remuneration in kind, like free products from your brand for example. It all depends on the kind of campaign that you wish to run along with the content, and the demands of the said influencers. Secondary arrangements include a Pay per conversion strategy. Here, payouts need to be made for each sale resulting from the campaign. A Pay per engagement strategy will ensure payouts for each potential engagements (post like, page like, video views etc.)
Influencer Marketing Tools
Overwhelmed with too much information? Don’t know where to begin? We have curated a list of tools that will help you discover and get in touch with relevant Influencers for your brand.
With this tool, use the power of word of mouth via blogs, social media platforms and publishers for your brand.
Get connected to different bloggers based on their area of expertise via this platform. Choose from a list of bloggers based on your brand and the kind of campaign that you wish to run.
Use this tool to analyze relevant data to decide on the most relevant influencers and micro celebrities for running your campaign.
Use this vast blog repository to discover relevant blogs and bloggers, and interact with them to organize and execute complex campaigns.
Navigate through this vast network of Indian bloggers and search and find the right fit based on different filters like city, category etc.
It allows individuals with significant social media reach to become influencers and collaborate with brands and monetize this opportunity. Also choose from several influencers from their database to co-create content with.
Tango by Terareach lets brands organize and run influencer outreach campaigns via their database of influencers on the platform. In-built tools let users manage and analyze details of the campaign.
A vast repository of influencers and an attractive user experience simplifies the process of identifying and choosing influencers to collaborate with.
This powerful tool can help businesses big and small identify top social media trends, locate specific type of influencers for collaborations, analyze and monitor competitor actions etc.
One industry that has increasingly adopted Influencer Marketing is Apparel & Fashion. In a recent study conducted by Fashion & Beauty Monitor, it was revealed that investment in Influencer Marketing by brands involved in Fashion & Beauty was poised to increase by 59 percent. Over 69 percent of participating marketing professionals believed employing an Influencer for publicising a new product launch to be top priority. If you happen to have an apparel store that you wish to publicize to a targeted, relevant market, then Influencer Marketing is a viable option. We have prepared a list of some of the top Fashion & Lifestyle influencers in India that you can reach out to.
List of Fashion/Lifestyle Influencers in India:
Being a Small/Medium sized business, Influencer Marketing has huge potential, given that the campaign is planned and executed well. It is very important to identify the right influencer that will guarantee a connect with the most relevant audience for your brand. Also, be clear about your ROI expectations right at the outset. Lastly, choose wisely on the content co-creation aspect closely with your influencer. These are the critical aspects of influencer marketing that you need to focus on to ensure a successful campaign.
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