We all want to be cost-effective in our spending. Investing money without returns can be painful for our wallets and, at times, can lead us to rough patches. Marketing is one of the most essential operations business owners should invest in. This is because marketing allows for more attraction of customers, which in turn can result in the growth of businesses. Today, one of the most effective marketing strategies is involving influencers, which is the crazy trend we are witnessing. According to Influencer Marketing Hub, in 2020, businesses get about $18 returns on a one-dollar investment from influencer marketing.
We have seen influencers storm social media with promotional messages and great personal branding. It is also undeniable that they entice thousands of their fans into supporting the brands they promote. Results of the influencer marketing survey conducted by Mediakix in 2019 show that 89 percent of people say that influencer marketing returns on investment is better than other marketing channels.
In 2017, I came up with a unique modeling agency with a unique operational method with my partner Anne Therese. Together, we founded Role Models Management. The most significant feat we have achieved is establishing an agency that disrupted the industry norm, allowing models to speak about the things they believe in. The company is now four years old and has over 200 models, including well-known celebrities. We have partnered with the UN, Remake Fashion, and Plus1Vote. Aside from that, we have also had the privilege to handle high-profile clients, such as Nike, Amazon, and Timberland among others.
Our agency connects clients to like-minded models, and that way effectively serves them to engage in what they love most. As models, we understand the struggles and challenges in the industry, hence, we formulated new ways to alleviate pressure from work. And we are here to share some of our practices that led to the success of Role Models Management.
Engage with influencers who love things related to your brand
At its basic level, influencer marketing requires the cooperation of an individual with a dedicated social following. However, this method of marketing becomes more appealing to others when the influencer actually enjoys things related to your brand. This helps in the generation of confidence and trust among their followers, which can lead to referrals. There is no doubt that influencers impact business sales when consumers see how they patronize your brand. If you decide to invest in influencers, you need to find people who engage in activities and create content related to the goals and message of your brand. You should consider influencers who support activities related to the services and products you offer. This way, influencers can thoroughly add value to your brand since it is coupled by passion. This method is cost-effective because many people just follow influencers they share similarities with. If you want to use your money wisely, pick influencers who enjoy things related to your brand since they already have an established audience, which is your potential target market.
Consider influencer’s online performance
Metrics on an influencer’s engagement is crucial, as it determines the conversions you receive. An influencer with one million followers but only garners 10,000 likes on a photo is not as effective as an influencer with 25,000 followers but with 6,000 likes on half their photos. Again, engagement matters! You need to filter potential investments by the concentrations of social media accounts based on saves, clicks, likes, shares, and comments. Any investment should have a basis of sound analytics.
Have the right payment structure
Many people have no idea how to budget their finances, especially when newly investing in online marketing. If you are confused about the process of payment of hiring influencers, let us help you. One of our models actually made a product called the influencer rate calculator, which is the ideal tool to calculate what you should pay an influencer. Another way to gauge how much should be allotted for the payment of your online marketers is by assessing the differences between how the content of influencers is used and how photos of professional models are utilized. How are you using the images? Does the model need to be exclusive to your brand? The price varies if the brand needs to own the images, but that will always cost more than an influencer posting images on their accounts. Do they need to leave it up for one year and re-share it quarterly or do they need to post only stories with swipe-up links? You can definitely tell influencers a set budget, but keep in mind that agencies will want to negotiate based not only on posting but also on the usage of the images and certain patents.
Make cost-effective content
Scout for influencers with unique content and a high volume of engagement. You should look for quality content rather than just a high social following. The help of influencers would really be beneficial when their content is in line with your brand. As the front of your online marketing scheme, it is an influencer’s task to stimulate growth and bring in sales through the elevation of brand awareness. In order to be efficient in your pursuit to market your brand, you have to develop ways to catch the attention of the public. Instead of just drawing ideas from the usual photos you see on Instagram, get creative and think outside the box. What is something you have not seen in advertising? Can you give creators the freedom to talk about your brand in a way that will vibe with their audience? Can you choose creators that can post across multiple platforms? There should also be other marketing methods to be used to leverage your sales completely. To get more tips, you can connect with me on LinkedIn or Twitter.
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