Making Money On-line: How to Create a Mutually Beneficial Influencer Marketing Relationship

Thursday, 16 November 2017

How to Create a Mutually Beneficial Influencer Marketing Relationship

One of the most important elements of growing a business is marketing. When it comes to getting the word out about your brand, products, or services, there are numerous avenues you can use, from online and offline advertising, to search engine marketing, e-newsletters, social media, and more.

However, these days, in a world where more and more people look to trusted names for recommendations and/or inspiration, there is a growing trend in using influencer marketing. If you’re thinking of trying out this route but are not sure how to create a mutually beneficial influencer marketing relationship, then read on.

How Influencer Marketing Works

Influencer marketing is the act of promoting and selling products or services through people who have the ability to have an effect on how a brand is viewed. While this concept isn’t new, as companies have been partnering with celebrities, athletes, and well-known leaders already, the strategy is now being used with anyone who has built up a large following and presence on social media.

With content production through the roof, influencer marketing has risen in popularity so much because it’s getting increasingly difficult, almost impossible, for firms to cut through the noise and actually get their message noticed and remembered by consumers. As such, people who can become brand advocates and actually have an effect on buying decisions are becoming more powerful and attracting a lot of interest.

Influencers can be paid with cash, free products, or other incentives to align with brands and spread the brands' messages to their audience — ultimately creating a win-win situation. Since influencers are trusted by their followers, their words about or pictures of products and services are taken more seriously by consumers, and sales can rise as a result. While people are less likely to place their trust in traditional advertising these days, or even notice it a lot of the time, they are more likely to trust a person they recognize and align with.

Different Types of Influencer Marketing

There are numerous types of influencer marketing but not all of them turn out to be mutually beneficial to both parties involved.With so many options, you can find a style that suits not only your budget, but also your firm’s goals (short term or long term), and a preferred platform.

For example, you might choose to create long-term ambassador roles for one or more selected influencers who resonate with your brand and who have the kind of target followers you want to engage. You could get these influencers to promote your products or services (and not with competing brands), for a set collaboration period on their social media pages, website, and the like.

If you want to directly influence sales figures, consider a type of influencer marketing whereby you provide an incentive for both the influencer to market your wares and the consumer to buy them. You can encourage people to spend money with your business via a call to action which is accompanied by an exclusive discount code or gift voucher coupon they won’t want to pass up. In addition, the influencer can make money from the transaction by way of an affiliate link, so that every time someone clicks from their website or social media page to yours and makes a purchase, they get rewarded for the referral.

Another option is to hold competitions and giveaways with influencers. This allows you to expose your brand to potential new customers and followers, and get consumers involved and engaged with your business at the same time. You could also arrange for a sponsored blog post on an influencer’s website, arrange for an influencer to be present at an event, or even allow an influencer to take over your social media pages or other content for a day to drive more traffic to your landing pages.

Tips for Making Influencer Marketing Work for You

To make influencer marketing work well for you, start by being clear about your goals for the promotion. For instance, do you want to build brand awareness about your company or a new product or service, or do you want to drive sales, or achieve something else?

Next, it is important to find the right influencers so that you actually have a chance of achieving the results you’re after. Start by searching for influencers in your specific niche, rather than just anyone who happens to have a huge following.

From there, look for people who also have a high engagement level with their followers, and who are likely to genuinely be interested in, approve of, and want to use your products or services. Connect with your shortlist of influencers and work on building a relationship with them before you ask them to promote your business. These efforts will make the connection more authentic, plus allow you to check that the fit is right. When you do get in touch with an influencer to start pitching your ideas, be sure to send them something personalized, that shows you’ve done your research and indicates how the partnership can be of mutual benefit to them.

Once you have influencers onboard, make sure that your social media strategy is airtight. Download the Guide to Social Media Marketing to start preparing today.