If Youre Not Seeing ROI On Your Influencer Marketing, Heres How To Fix It
Leonard Sarko, CBC PR and Digital Marketing Executive.
Influencer Marketing spending is projected to reach nearly $16.4 billion this year. As a digital PR agency owner, we've run our fair share of influencer campaigns. But with all that money spent, many CFOs wonder, "Where's the beef?"
From a marketing perspective, many influential companies create quality buzz. But from what we've heard from sales professionals and CFOs, most of these programs don't deliver ROI.
If simple metrics like reach and likes aren't your idea of success, read on. In this article, I explore how social media influencers can go beyond promotion and become a valuable source of predictable leads or online sales. With this strategy, you can create great content for your brand while driving new visitors through email and sales conversions.
Swipe buy Vs. older generation
Instagram influencer programs can have a good ROI, but usually only for low-barrier categories like beauty products, shoes, and apparel. They are ideal for swipe-to-buy offers where all sales can be made within the channel.
Compared to the slide above for products that take longer to close, most of these influencer campaigns do not generate revenue. To generate leads and ultimately sales, you need to create a program that encourages users to navigate to your site from the influencer's social stream. In this case, it is important to create a multi-level content strategy.
Step 1: Limit significant influencers on Instagram.
By definition, lead generation means pulling leads from influencer channels to your website. Getting significant page traffic through Instagram is very difficult. channel is designed to keep followers in its ecosystem. Instead, look for influencers who provide links on TikTok or Twitter, or who have high blog activity and readership.
Step 2: Build trust through frequency.
Just like a paid advertising campaign, your message needs to be exposed several times before your audience starts to respond. Work with influencers to generate multiple posts. By posting regularly (usually every few weeks), visitors become familiar with your brand and become more engaged. At this stage, you develop familiarity and trust.
Step 3: Add breadcrumbs.
Once you've determined your level of authenticity, it's time to drive your visitors to your site. The key to this step is creating content on influencer channels that expands on your site or serves as an introduction to a topic or offer. It's important to think 'share and inform' rather than 'sell'. Examples include e-books and downloadable materials such as more in-depth educational or entertainment content.
When you invite an audience of influencers to your site, it's important not to link them directly to your eCommerce site. They will come to find out more and in many cases will be put off by strong propaganda. Instead, create a page that positions you as a subject matter expert with videos, blog posts, an expert POV, or even a downloadable component so you can capture an email address or phone number. Then work your CRM to nurture those new leads to create long-term relationships, not just sales.
Overall, influencer marketing can be very beneficial for a business if done right. By understanding a clear customer journey, KPIs and company goals, and connecting with influencers who align with your values, you can create a creative network that will drive your business success.
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