5.04 billion people are using social media in 2024. That 5.04 billion people logging into various mediums, from Tiktok to Snapchat, every single day!
Dominating these platforms are social media influencers; individuals who build a brand based on their niche interests, from music to crafts, to lifestyle and fitness. Influencers can tap into their audience through connection, trust, and collaboration, highlighting the unique elements of your brand or product.
If you want to add influencer campaigns to your marketing strategy, you must build a roadmap to help determine how you approach the activation! Here are 5 key questions that are important to consider when building your strategy to get the most out of your influencer partnership:
1. What are the main goals driving our investment in influencer marketing?
Before diving into an influencer marketing campaign, pick clear and measurable objectives. Are you looking to increase brand awareness, drive sales, or promote a specific product launch? Understanding your goals will shape the direction of your influencer partnerships and help evaluate the campaign's success.
2. Who is our target audience that we want to reach?
Every influencer has a unique audience, so determining who to work with starts with understanding the audience. Look into demographics, interests, behaviors, and online habits to ensure alignment between the influencer's audience and your brand's target market. Beyond demographics, who are they following? What brands are they interacting with?
3. What type of content resonates with our audience?
Audiences savor various forms of content, from long short videos, images, blogs, or social media posts and are active on different networks. Understanding what your target audience will appreciate and where to reach them most effectively can determine which influencers you want to work with.
4. How much are we happy to spend?
Influencer marketing is a dynamic space. Nano or micro-influencers are significantly more affordable than mega-influencers with millions of followers who charge a hefty fee! Determine your budget early on to allocate resources effectively and identify influencers that fit within it. In 2024, even nano influencers with a few thousand followers expect to be compensated appropriately for their time, so you will need to set aside a campaign budget.
5. How will we measure success?
Choose the right KPIs to track the success of your influencer marketing campaign. Since influencer marketing generally falls somewhere between top-of-funnel and mid-funnel, you’ll want to look at Reach (specifically, CPM), Engagements, Link Clicks, and Sales and Conversions.
It all starts with communication. By asking the right questions as a team, defining clear objectives, understanding your audience, and selecting the right influencers, brands can tap into the exciting - and ever-growing - influencer market!
Need help creating and managing your influencer campaigns? As a Toronto social media agency, Spark has extensive experience designing and executing influencer marketing programs for brands, from nano-creator collaborations to celebrity brand ambassadorships. Send us an email to learn more!
For more tips on all things social media and content production, be sure to follow us over on Instagram @sparksocialagency
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