Is Influencer Marketing a Profitable Strategy?

Looking for a way to build a loyal customer base and increase your brand awareness?

Influencer marketing is quickly becoming one of the most important online marketing channels. However, running a successful influencer marketing campaign takes careful consideration, monitoring, and follow up.

Here’s what you have to do as a brand to be profitable with influencer marketing.

Define what success looks like to your business

As a brand, you should have a clear idea of what you want to achieve. First things first, define your goals of the influencer marketing campaign and how an influencer can help you reach said goal. Additionally, discuss what key performance indicators you will be using to track these goals. These will help you understand the success of your influencer marketing campaigns and make data-driven decisions. Whether it’s to generate sales, grow brand awareness or something else, clearly define your goals before searching for and hiring influencers.

Align your brand with the right influencers

Finding an influencer who aligns with your target market as well as your brand values and aesthetic can take time and effort. You may be asking yourself, how do you find the ‘right’ influencer? Influencers help brands make authentic connections with their target market, so choosing the right person for this job is important.

The right influencer can usually be defined as someone who is trustworthy and invested in your brand. The influencer should not be working with you solely for money or free products, but shares excitement when they get your product. The influencer you chose should have the audience size you're looking for and maintain a good engagement rate. If you find someone who meets that description, they will make a good long-term brand ambassador for your business.

Focus on long term relationships

Stop using one-off marketing tactics! This means that your brand is always having to find new influencers. That requires lots of time, energy and money that you don't want to spend, and stress you don’t want to create.

Instead, think long-term. Find creative influencers that you can trust and build a genuine relationship with and keep them around for a while! By doing so, you will create a good relationship between you and the influencer, and ultimately between you and consumers. A successful campaign requires the company to have preparation, communication and commitment to their influencers.

Differentiate your brand

With more and more brands increasing their budget for influencer marketing, audiences may start to gloss over the usual influencer content. If your brand is going to be successful, you have to stand out from the crowd. Find ways that you and your influencers can deliver value and profitable results without losing authenticity.

People connect with other people. That is why putting a relatable face to your brand will promote a genuine connection with consumers. And when you create a long-term relationship with the right influencers and execute an effective influencer strategy, your brand will get the customer loyalty and results you want!