Achieving 2020 Success with Influencer Marketing
Influencer marketing is estimated to become an $8 billion dollar industry in 2020. Here are tips to help creators take advantage of this growth and achieve success with influencer marketing in 2020:
It is More Than Just Numbers
Traditionally, choosing influencers depended heavily on having a large following on social media. This criterion gave rise to fraudulent online behavior, where people would create fake followers. Before selecting an influencer, brand marketers must conduct due diligence and look out for red flags such as:
- Significantly low engagement level or views compared to the number of followers
- Are the comments authentic? Look out for monosyllables like “nice” or emoji only responses
This fraudulence is the main reason why Instagram trialling hiding likes worldwide, and marketers should look out for similar actions from other digital platforms come 2020.
Teamwork Makes the Dream Work
This whitepaper research revealed that influencers prioritize creative control when choosing which brands they work with. Marketers must relinquish some control because, in reality, influencers understand their audience best and know what content will generate the most engagement.
Influencers and marketers must work collaboratively to ensure campaigns resonate with the brand essence and marketing objectives. This means that marketers must choose influencers who closely mirror their brand ethos and values.
Find the right person for the job. What type of content does the influencer currently create? You want to work with someone who has the right demographics and relevant interests while maintaining a committed number of followers. Select an influencer who best matches your brand. Gone are the days where an influencer would promote 3-5 different brands of the same product category as customers now question their genuineness.
Define Your Goals
Successful campaigns have a working system for measuring results with a clear set of KPIs. Articulate which channels would be most effective for your target audience and the expected ROI on the campaign.
Marketers must keep close tabs on metrics such as likes, views, comments, shares and brand mentions. What aspect of the campaign generated the most engagement? You can also use Google Analytics to show you exactly where your website traffic is generated from and whether it has increased directly due to the influencer collaboration.
Shift in Influencer Content and Platforms
Influencers will inevitably create more audio and video content in 2020 and beyond. Access to billions of information and shorter attention spans of customers has revolutionized content to formats like stories and ephemeral content-those that appear shortly then disappear.
Other growing platforms include IGTV on Instagram, as well as influencer and brand-driven podcasts
These are growing in popularity because they are short, engaging, and addictive in a way that people can spend hours scrolling through stories
Build Long-term Relationships
Long-term influencer relationships will take the lead over campaign basis approach. This is due to the power of online communities, which ultimately make working with one influencer for a long time more mutually beneficial to build trust and brand loyalty.
Begin by following the person on social media and stay updated on their online activities. Take time to understand their profile, style and audience before finding an opportunity for a closer introduction.
Successful brands in 2020 will have to prioritize strategic fit over followers by learning how to leverage smaller influencers (Micro-influencers are those with up to 5,000 followers).
Micro-influencers have an intimate relationship with their communities that go beyond reachability. They have carved a new niche of transparent Human-to-Human (H2H) interaction, which have a significantly higher engagement rate compared to larger influencer campaigns. Read more here recent report
Learn how we can help, contact us today for a Influencer marketing consultation.