Businesses are spending more and more on influencer marketing strategies. But directing more money toward a certain campaign doesn’t necessarily guarantee it’ll be an effective project. Other factors are at play as well. Here are the top reasons why people succeed with influencer marketing.
They Pick the Right Partners
During an influencer marketing campaign a business will work together with an influencer to boost a brand awareness and credibility. Picking the right partner is a delicate process. And it helps if the brand and influencer have similar values and similar visions for the industry. When those values are in sync, the collaboration seems more natural to audiences. On the other hand, a partnership between a fitness influencer and a fast food company might seem inauthentic.
A shared sense of purpose can also affect how well the marketers themselves perform throughout the campaign. Purpose is a powerful motivator, and it tends to increase the engagement of team members.
They Cultivate Long-Term Relationships
Working alongside the right partner for several months can do wonders for your business. So, why wouldn’t you try to build on that existing relationship? Long-term partnerships can boost an audience’s trust in the brand and influencer, as both demonstrate having consistent values. The brand and influencer also increase their commitment to each other; their fates (and reputations) become intertwined.
When you’re looking to extend a business partnership, communication is key. Both parties should lay out their expectations in the form of a renewed contract. When you’re both in it for the long haul, the brand might expect the influencer to work more hours. And the influencer might expect to see more compensation for their continued efforts.
Marketers have to stay on their toes. Audiences can grow tired of the same content and outreach strategies and start expecting something fresh. Successful influencer marketers accept this possibility and try to stay ahead of the game by testing out new strategies.
When they’re given space to take (reasonable) risks, influencers can really flex their creative muscles. You might agree to try a new approach to user-generated content. Or maybe the influencer wants to test a new slogan. Not every idea will be a hit with audiences, but experimenting with different concepts will lead to successful breakthroughs.
They Listen to Feedback
How do you know whether your latest giveaway or blog series is moving your business in the right direction? You have to a listen for the audience’s response.
Feedback comes in many forms. For example, you can use social media analytics tools to keep an eye on performance metrics. Ask yourself questions such as:
- Are more people seeing my content?
- Are more people interacting with my content through replies and likes?
- Is my business seeing an increase in sales?
- Is my number of leads growing?
If you’re not seeing the numbers you want, take that as a sign that you need to try out a new strategy.
Aside from metrics, you should also consider soliciting feedback in the form of actual customer opinions. On your social media pages, invite followers to share what they like about your brand’s direction. Ask them what they’d like to see more of in the future. Jot down their feedback and put it to good use.
If customers raise complaints or concerns, don’t ignore it. Respond in a prompt and professional manner. You can’t succeed unless you make your audience feel valued.
They Respect the Rules
You’ll find it hard to succeed if you regularly run afoul of the Federal Trade Commission. The FTC sets rules regarding influencer marketing, and everyone involved in the industry should stay up to date on these guidelines. Most of the rules are in place to ensure transparency between the brand, the influencers, and the customers. Influencers should disclose their business ties when endorsing products and services.
If you happen to find yourself in violation of the rules, your reputation as a business can take a hit. Not to mention, you might find yourself in legal trouble if you ignore warning letters from the FTC.
Expect the unexpected. Partnerships can end abruptly. Your latest campaign efforts could flop. The FTC could begin enforcing a new set of rules.
To prepare for whatever happens next, you’ll need to be adaptive in your influencer marketing efforts. Part of this has to do with your mindset. When a sudden obstacle appears, be ready to identify problem areas and take some risks to regain your footing.
The right resources can also go a long way in improving your flexibility. For example, influencer networks such as IZEAx Discovery give you quick access to influencers and content creators.