Tag: affiliate marketing

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Seven Common Influencer Marketing Problems and How to Avoid Them

If you want to work with influencers to market your goods and services, you must be super familiar and aware of the rules, laws, and regulations surrounding this marketing method. You don’t need to reinvent the wheel, someone else has already invented it, and it works great. All you need to do is get familiar with what the ins and outs are.

 

Here are the seven most common influencer marketing mistakes to avoid and what you should do to prevent them:

 

Not Understanding Your Target Audience

 

This leads to picking the wrong influencer, and choosing the wrong platform and social media channels.

 

Not Providing Enough Resources and Information

 

Don’t expect the influencer to do the job without the proper information. While they are great at what they do, they need solid information from you first to understand the expectations and goals for your business.

 

Remember, they are influencers because they marketed themselves as the product. Therefore, they don’t know anything about your business and what content needs to be created to get the conversions you are hoping for.

 

Thinking Too Short-Term

 

It takes work to find the right influencer and even more time to keep them accountable. Due to this, you should always think about forming long-term partnerships with your influencer. Over time, they can become even more of an asset as they become experts on your brand, products, or services. When you show influencers you truly mean business and value them as humans, they are more like to stay accountable and meet all your marketing requirements.

 

Prioritizing Conversions Over Quality Content

 

While conversions are what you want, you can’t expect that without creating good content. The right content and the influencer that actually fits well with that content make the engagement rate you need to be successful with the campaign.

 

Not Calculating and Keeping Track of Your ROI

what is return on investment

Return of investment can be tracked and should be during the entire campaign and from the very start. While it is not as easy to determine, like regular social media ads or other similar online marketing, it can be done.

Focusing Only on Vanity Metrics

 

When you only think about how many people are following someone rather than their level of engagement, it’s easy to get tricked into working with them without realizing it. Pay close attention to all the metrics that matter.

 

Ignoring Federal Trade Commission Guidelines

 

Ignoring the law is not the best way to ensure that you get what you want. Familiarize yourself with these guidelines and stick to them no matter what you feel about them.

 

There are legal requirements to follow before you can safely post influencer content. First, you must legally disclose whether or not a post is sponsored, for example, and whether or not links are monetized in order to keep consumers aware.

 

Ensure you read the information provided by the FTC guidelines and get to know them so that you don’t make these types of legal mistakes. Otherwise, working with influencers is a very profitable joy that you won’t regret doing.

 

 

 

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How to Track Your Influencer Marketing ROI

When you engage an influencer to help you market your product and services, you must track the metrics just like anything else you do in your business. The only way you can be sure that action A causes result C is that you tracked and measured it.

 

Determine Your Campaign Goals

 

Before setting a realistic budget, you need to understand your goals for each campaign clearly. You will have different requirements for every goal, which means the costs associated and return on investment for each product will vary. Working with a micro-influencer will fees significantly less than working with a macro influencer, for example.

 

For example, you may have the goal of getting more subscribers to your e-mail list. If so, what exactly will that require? It’ll require giving the audience a reason to click through and sign up, for one thing. What else? Make sure you know and match all goals with the requirements.

 

Identify Key Performance Metrics

6 WAYS YOU CAN TRACK YOUR PROGRESS

Your goal needs to be clear and direct for each campaign to determine what key performance metrics to keep track of. This way, you have a more accurate representation of your return on investment. Tracking the wrong indicators like sales volumes when your main goal is brand exposure will provide inconsistent results.

 

While exposure can translate into more sales, it is better to keep track of your audience growth, engagement rate, or new versus return visitors before, during, and after the campaign. The point is to make sure you are watching the specific metrics that reflect your goal. For sales, keep tracking affiliate links, promotion codes.

 

Highlight Individual Campaign Expenses

 

What supporting details or materials do you need to run the campaign? Product costs, travel costs, influencer fees, agency fees, and more. You must first determine the influencer strategy or content you want to create to know what you need to budget for the campaign.

 

Track, Compare and Evaluate

 

You should keep track of all data before any campaign starts. If you don’t pull key performance metrics first, you won’t know if the results are really translating into a positive return. The only way to be certain of effectiveness is to check the metrics before, during, and after.

 

Your return on investment will be as good as your due diligence. Do your research and find the right influencers who offer the best services for the budget you have. The more you work with others in this regard, the more effective you’ll become over time. You’ll be able to use the numbers to figure out what is working and do more of that.

 

 

 

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Four Influencer Marketing Myths Destroying Your Results

If you’ve been worried up until now about getting involved with influencer marketing, let me reassure you. There is no reason you can’t incorporate influencer marketing into your overall marketing plan regardless of your reach or budget.

 

Here are four influencer marketing myths stalling your results and hindering your ability to run and create a powerful influencer campaign:

 

You Must Have a Large Budget to Be Successful

Why Influencer Marketing Works

Unless you want to work with a mega influencer, you don’t need a large budget to get started or see results. A big budget doesn’t necessarily correlate to a successful influencer campaign. Choosing the right influencer with your specific and targeted goals in mind does.

 

Nano and Micro-Influencers Don’t Bring Conversions

 

Actually, nano and micro-influencers often have higher engagement rates. Virtually 22% higher than mega and macro-influencers. You may generate better results using smaller influencers than large ones.

 

High Popularity Means Instant Exposure and Success

 

The size of an influencer audience does not instantly equal success. Using audience size as your only or main factor to contract them is a major mistake. You should never discount influencers with lower audience totals as they can have a higher engagement rate than those with millions of followers. An audience can be bought, but engagement, the metric that matters most to your return on investment, is harder to fake.

 

Reach is More Important Than Relevant or Quality Content Creation

 

You must have relevant and quality content together to run a successful campaign. Again, just because an influencer has a high audience does not mean you will gain the same amount of reach.

 

Influencers that make the best impact create content their audience needs and wants. Meaning who they partner with should always be relevant, or they will likely ignore it. Their audience could also feel deceived or feel the partnership is ingenuine, further hurting your results.

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Seven Influencer Marketing Campaign Types to Know About

When it comes to influencer campaigns, there are several types that you need to know about. Most people do a combination of these in order to help get the word out about their products and services. Mix and match as needed to develop a fun and effective influencer marketing campaign that works for your needs and the influencer’s needs.

 

The following are seven popular influencer marketing campaign types to learn:

 

  • Sponsored Content – With sponsored content, you simply pay the influencer to create a post, a video, or both that works to promote your product or service. The influencer will reveal to your audience up front that it’s a sponsored post. Depending on the rest of the deal, you can get a sponsored post starting at about 50 bucks and on up.

 

  • Reviews – One way to have an influencer recommend your product is by asking them to do an honest assessment of it. At the same time, they will provide an honest review. You usually pay a set fee for the review and offer a percentage of sales for their unique link.

 

  • Giveaways – You can also give the influencer a free product to give away to their audience as a way to boost your own sales. Usually, they’ll provide a review plus do the giveaway and have a link to those who want to buy.

 

  • Guest Blogs or Collaborations – Working with several influencers or doing a guest blog on an influencer’s website or channel, if you’re also a vlogger or blogger, is also a great way to use an influencer’s audience versa.

 

  • Platform Takeovers – Some people give the influencer the ability to take over their own platform to get the word out.

 

  • Product Seeding – Having an influencer simply wear your t-shirt, use your product, or otherwise show themselves using it without talking about it is product seeding. Again, you’re most familiar with this happening in tv shows.

The Keys to A Successful Influencer Marketing Budget

  • Ambassadors and Affiliates – Working with influencers as ambassadors and affiliates is a great way to work with them, too, because you won’t have to pay them until they make a sale with this method.

 

There are a variety of types of influencer marketing campaigns. The above are some ideas to try for helping you get the word out about your products and services.

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Five Tips for Working with Micro-Influencers

When you start seriously thinking about working with influencers, your thoughts probably go to a huge influencer that you really love. You may imagine them using your product, and the experience goes viral, and you make a million bucks. This can happen but not without a good plan and a lot of money.

 

Top reasons to work with micro or nano influencers:

 

  • They are more affordable
  • They have a higher return on investment
  • Their audience is more loyal and targeted
  • They are more genuine and authentic

 

The following are five tips for working with micro-influencers to gain a higher return on investment:

 

Be Niche Specific

 

Because nano and micro-influencers have a specific target audience, you want to be sure their niche matches yours. In other words, their target audience must match yours for it to be successful.  

 

Always Allow Creative Freedom

 

Be sure to avoid micromanaging. Just because they are a smaller influencer does not mean they are not professional. Guide them with the proper product and business information and expectations, but always allow for creative freedom. They have the targeted audience and loyal following for a reason, their content. If you take over, it will quickly come off as ingenuine to their audience.

 

Research and Watch Their Engagement

 

Micro-influencers have more time to engage with their audience by responding to comments and offering a closer friendship-like experience for their audience and followers. Due to this feeling that the audience is close to the influencer, they are often more likely to take the influencer’s recommendations on what to buy.

 

Consider More Than One

 

When working with small influencers, one way to compensate for the smaller audience numbers is to work with more than one at a time for a rolling campaign. For example, choose five influencers with small audiences of 10 to 50 K each and have each influencer start their campaign on a slightly different date to get the ball rolling.

 

Compensate Fairly

 

Just because they have a smaller following, subscriber base, or audience does not mean they deserve to be well compensated. Avoid product-only compensation models if you can. Giving them more for sales and just for trying can really help encourage them to do more.

 

Working with micro-influencers may actually be more beneficial for you if you have a smaller budget. Plus, studies show that micro-influencers have more responsive audiences than huge influencers anyway.

The Do’s and Don’ts to Influencer Marketing

 

 

 

 

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The Keys to A Successful Influencer Marketing Budget

One of the first steps to running a successful influencer marketing campaign is to set up the right budget. However, a large budget does not translate to instant results or a high return on investment either. For influencer marketing to work, you don’t need an outrageous budget to get started. Instead, you need the right budget that includes specific key information depending on your goals; this will and should vary.

 

Here are the keys to creating a successful influencer marketing budget:

 

Understand Your End Goal

 

This is by far the most important step to your entire influencer marketing campaign. Without clearly defining your goals, you can’t know what materials you need or who you can hire for the project—leaving many costs unaccounted for.


Pick Your Influencer Campaign Strategy

 

Each influencer level comes with a different set of fees and expectations. Typically, the fewer followers you have as an influencer, the lower the rate.

 

The following are common set rates for each level of influencers for a single post on Instagram:

 

  • Nano – Influencers with 1,000 to 10,000 followers charge a rate of $10 to $100.
  • Micro – With 10,000 to 100,000 followers, they charge around $100 to $500.
  • Macro – They have 500,000 to 1 million followers and charge $5,000 to $10,000.
  • Mega – Over 1 million followers cost $10,000 and up.

 

These are just estimated ranges that many companies have reported. The numbers can still vary outside of these ranges due to their metrics compared to your specific campaign goals, what type of content they create, and the platforms they use. In addition, follower numbers do not automatically transfer into a positive return on investment. This means these numbers should just be used as a baseline or starting point.

 

Pick your Pricing Model

 

While many influencers will charge a set price, that doesn’t mean there are no other ways to do it. Here are some common pricing models to pick from:

 

  • Cost Per Engagement
  • Cost Per Acquisition
  • Cost Per Click
  • Cost Per Mentions
  • Set Compensation Package

 

It’s important to note that even if influencers charge a set price, you can use these payment models to determine if the return on investment is worth it. For example, if the influencer is charging 500 dollars for one post and your goal is to get at least 1,000 engagements, then the following formula can be used:

 

$500/1000 = 0.5 * 100 = 50%

 

For this example, your return on investment would be 50%. As long as the influencer can show supporting metrics or other information that the post will get that much engagement, this would be a great partnership and more than worth your money.

 

Determine Other Campaign Costs

 

Influencer compensation is not the only cost needed to run a campaign. Remember to highlight products used, travel expenses, tools, software, third-party services, and any other supporting material costs required.

 

As outlined above, your budget is determined and set by your campaign goal. Keep it specific and clear to easily determine the right costs and run a more successful campaign.

Define Your Influencer Marketing Goals

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Six Tips to Communicating and Collaborating with Influencers

Nearly 63% of top brand marketers have reported working with ten or more influencers at one time. Further making proper communication and collaboration paramount to your success. Every business should already understand the value of appropriate communication and take steps to learn how to do so for each goal and department of their organization, especially when it comes to marketing and communicating to your target audience.

 

Here are six tips to establishing proper communication with any influencer:

 

Keep Communication Type Consistent

 

If your influencer works mostly through e-mail, keep all the conversations there. However, if you work with several influencers, try to find one platform to keep everything organized. For example, you don’t want to talk to one influencer through Instagram directly while talking to another on Facebook directly.

 

Eventually, it will get too unorganized as you continue to add influencers to your team. Imagine if you had ten influencers on your team, each using a different channel or software to communicate. Over time this can get confusing and disorganized, easily providing an opportunity for missed information. Not a sustainable relationship for anyone.

 

Provide a Clear Plan or Roadmap

 

Tell the influencer exactly what you need and how their content can benefit your company. Highlight your goals and the metrics you are hoping to gain from the partnership. Be as clear as possible, ask questions and always follow up to ensure they know what the plan is or provide the influencer an opportunity to ask questions or offer suggestions.

 

Keep Communication Open

 

Allow space for your influencer to provide their opinion and be open to new ideas. The one thing that makes influencer marketing so great is its unique content. They also understand their audience and how they will react to certain information better than you would. They want to see success just as much as you. If they don’t produce the results needed, they will be without a contract or revenue.

 

Form an Authentic Relationship

 

Just because it is business does not mean you can’t form genuine and strong relationships with influencers—the more authentic the connection, the better the content. If you truly care about each other, you won’t have any problems working together and getting the results you both need. So start engaging with their content and following all their social media pages. Like and comment on their posts and treat them just like any other friend or customer. Not only will the influencer appreciate it, but their audience will too.

 

Schedule Content Creation Time Together

Important Questions to Ask Before You Work with An Influencer

Brainstorm new ideas or content to use for the campaign together. Be open to creativity and innovation. The influencer is here to create content, so be sure they are involved during this process.

 

While you need certain information to be shared with their audience, this doesn’t mean it has to be a sales pitch or read from a script. The influencer knows how their audience digests information so let them do the bulk of the content creation. Just be sure to provide them any supporting materials and information they need. You need to guide them and educate them on your products and services, not micromanage them.

 

Create Personalized Incentives or Gifts

 

Send products or create unique promotion codes personalized to each influencer. The more you treat your influencer as an individual with their own feelings and thought processes, the better the relationship altogether. Don’t treat them like a corporation and dehumanize them.

 

Overall, taking the necessary steps to communicate with your influencer properly is vital to your campaign and collaboration success. Use these important tips the next time you reach out to an influencer.

 

 

 

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How to Create an Influencer Contract or Agreement

Developing your influencer contracts isn’t as hard as most people make it. The truth is that it’s always a good idea to get a lawyer to help you create your contracts but signing a document that you create is also acceptable in a court of law.

 

The following are the basic requirements for any social media influencer contract:

 

  • Parties To the Agreement – Include the legal names of the people subject to the contract terms, including their business name and entity type and address and contact information.

 

  • Terms Of the Agreement – One way to put all the terms you’ve agreed to in the contract is to just list out by number each person’s responsibilities in order of importance.

 

  • Timeline Of the Campaign – Dates and the timeline are imperative inclusions into any contract if you want it to be enforceable.

How to Search and Vet Potential Influencers

  • Content Creation Expectations – Be very specific about what you’re expecting the influencer to create for your payment.

 

  • Compensation Amounts – Describe not only how much but what signals the payment to take place and how it’ll be done. For example, you might want to pay them half up front, half after the campaign, or some other schedule.

 

  • Advertiser Policies – Always include any policies that you want to have, such as not including bad language, grammar, and punctuation, as Facebook’s Advertising policy states.

 

  • Confidentiality Agreements – If you have one, put it in the contract and be very specific.

 

  • Non-Disclosure or Exclusivity Agreements – If there is something you don’t want to be disclosed, such as the private marketing stats you provided to them, make sure it’s in the contract. Likewise, if you don’t want the influencer recommending your competition, make sure to say so.

 

  • Breach of Contract Clause – What happens if either party breaches the contract? If you describe what should happen now, it’ll make it easier should something go wrong.

 

  • Governing Law – Always include which state, city, and county (or country) law’s will be the guiding force of this agreement should there be a disagreement.

 

  • Signatures of All Parties – Don’t forget to get it signed. It doesn’t have to be notarized, but this can help. Using software to sign is also helpful.

 

Lawyers aren’t required to make contract legal, but they are required to know what you are permitted to put in the contract as you cannot contract illegal things. If you write an agreement on a napkin and sign it, it’s legal as long as the items put in the contract are also permitted. A self-designed contract is better than no contract, but it is advisable to seek help from an attorney or paralegal to perfect your arrangements.

 

 

 

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Four Things You Should Always Provide the Influencer

When you start working with influencers, it can be tempting to keep it very informal, but the truth is, contracts and information help you avoid problems. This is good advice whether you’re working with influencers, service providers, or consultants. Contracts and clear information make all the difference.

 

Here are four things you should never neglect providing an influencer:

 

Contract or Agreement

 

Once you have hashed out all the responsibilities of each party to the contract, make sure to put it in writing. Don’t be scared of contracts. List each person’s information and list the responsibilities for each party to the agreement along with timelines, due dates, and any pertinent info needed to fulfill the contract accurately. Plus, describe exactly what you’ll want to do if there is a dispute to prevent any unforeseen problems.

 

Contracts need a starting and ending date, names of all parties involved, payment amounts and due dates, penalties, or changes if breaches, missed deadlines, or disagreements.

 

Clear Expectations

 

Before you even approach the influencer to work with you, develop your expectations to be clear to yourself. That way, it’ll be easier to communicate what you are expecting from them. Always ask them if they understand what you are saying and listen to them.

 

If you have formal meetings, record the information you gather at the meetings, and then agree to what has been recorded, it’s easier to make sure everyone is on the same page regarding expectations.

 

Compensation

 

Be very clear about how you’re going to compensate your influencers. Do what you say you will when you say you will. Don’t necessarily try to go for the cheapest deal when it comes to influencers. Instead, go for the best return on investment.

 

One way to ensure that you’ll receive a good ROI is to compensate influencers in multiple ways, from product sales, free products to a flat fee to commission as an affiliate.

 

Content and Other Supporting Materials

 

Once you’ve settled the contract and everyone is clear about what is expected, make sure you deliver the content and supporting material as soon as possible. Then, if you meet your deadlines, you will ensure that they meet theirs too.

 

Furnish your audience persona and other information you want to be provided to your audience through the influencer so that they can design the promotion based on the research you’ve already done.

Start with the Right Influencer and Target Audience

Influencer marketing is an effective way to get the word out about your products, services, and offers. But you must plan beforehand and do your due diligence to ensure that the people you work with are up for the task.

 

 

 

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Important Questions to Ask Before You Work with An Influencer

The following are important questions to ask your potential influencers and key information they should provide back to ensure you pick the right influencer for your campaign:

 

  • Who Is Your Target Audience? – Ask them if they have an audience persona created or if they can provide audience demographics so you can be sure their audience really will want what you have.

 

  • How Does Your Target Audience Algin with My Brand and Message? – You need your own brand message and reason for existing, and it should align in some way with the influencers you choose to work with. Let them explain how they align.

 

  • What Type of Content Do You Produce? – It will help you to know the type of content they can produce to start with. For example, some influencers do life-like vlogs and don’t do scripted commercials or advertorials. Work with influencers who give you what you need but be open to new ideas.

 

  • How Often Do You Publish Content? – Knowing their production schedule can help you ensure that your campaign is launched at the right time.

 

  • What Is Your Engagement Like? – They should tell you about some actual numbers regarding their engagement but understand if you choose to work with new influencers (which works great, by the way), they may not understand yet, but you can show them.

 

  • Have You Ever Worked with My Competitors Before? If so, Why and Why Do You Want to Work with Us Now? – This can help you ensure that they’re going to be upfront and honest with their audience about their recommendations.

 

  • Have You Worked with Similar Brands Before? How Successful Were You? – Getting these stats will really help you project the type of response they might get for your campaign.

 

  • How Often Do You Share Sponsored Content or Affiliate Links? – You want to ensure they have a good ratio of information and sponsored content or affiliate content. This will help you determine if they have staying power.

 

  • What Are Your Overall Expectations for Partnering with a Brand? – You want to know from them what they are expecting to gain from this too.

 

  • What Are Your Thoughts About Exclusive Brand Partnerships? – If you want them to work with you exclusively and not another brand that competes with you, this is good information to know.

 

  • What Is Your Content Creation Process? – Understanding their process can help you understand how you’ll work with them, including timelines and other info.

How to Easily Crank out Content Daily

  • Do You Want to Work with Us to Create the Content and Share Before Posting or Be on Your Own? – How autonomous will they want to be, and are you okay with this method? Of course, you can’t make them work how you want to work, but you can judge whether you can work together or not.

 

  • What Are Your Fees and Other Compensation Needs? – Try to get them to give you a fee schedule instead of telling them what you’ll pay. Not only will they feel more in control, but it’ll make working together easier.

 

  • What Sort of Timeline Do You Need to Get to Publishing? – Knowing the timeline will help you get your information to them promptly.

 

Use these questions to figure out whether you can work with the influencer in a seamless way that matches your own needs and includes their needs. You’ll be very glad you took the time.