Only superstars and a few committed bloggers could be considered influencers a decade ago. Now, it appears that social media influencers have risen to prominence, saturated the market, and even become victims of fraud.
Suppose you’ve done any prior study on influencer marketing. In that case, you may have come across contradicting information, with advice ranging from employing social influencers without hesitation to not using them at all.
As a brand, navigating this marketing method is more complicated than ever, but we’re here to help you make sense of it all.

What is influencer marketing?

At its most basic level, is a sort of social media marketing that relies on endorsements and product mentions from influencers–people who have a large social following and are regarded as experts in their field. Influencer marketing works because social influencers have a high level of trust with their followers, and their recommendations act as a sort of social proof to your brand’s potential customers.

Influencer marketing today

It was easier to stand out on Instagram in 2014 than it is now. Your chances of being tapped as an influencer were high if you were lucky enough to be featured on Instagram’s featured page or if your style was just unusual enough. After forming enough company agreements, some people have made a full-time career out of social media IM.

Value of Influencer marketing

  • In 2021, it will be worth $13.8 billion.
  • It generates a $5.78 return on investment for every $1 spent.
  • It is considered an effective technique of marketing by 90% of study respondents.
  • Instagram is used by 67 percent of brands for IM.
  • In the last five years alone, 1360 platforms and agencies have entered the market.

The Remarkable Rise of Influencer Marketing

  • Sizable Increase in Searches for “Influencer Marketing
  • IM Grows to $13.8 Billion in 2021
  • Influencer Marketing Focused Platforms and Agencies have more than Doubled in Two Years
  • High Average Earned Media Value per $1 Spent on IM
  • Many Firms Now Budget for both Influencer Marketing and Content Marketing
  • The Majority of Firms Intend to Increase their Marketing Budget
  • Most Marketers Judge IM to be Effective

Creating an influencer marketing strategy

An influencer campaign, like any other marketing strategy, involves careful targeting and planning. You won’t achieve strategic success simply by giving away free items to anyone who asks or to your existing friends and acquaintances.

  • Organize yourself, create a strategy, plan, and budget, and devote time to research.
  • Make a decision about how you’ll locate influencers: organically, through a platform, or through an agency.
  • Be patient and human – humans conversing with people, not businesses conversing with businesses.
  1. Look for influencers and how much to pay them
  2. Make a budget and a management plan.
  3. Make a decision on your objectives and message.
  4. Contacting influencers: How to Go About It
  5. Examine and improve your strategy.

Conclusion

Influencers are here to stay, but the way the world of influencer marketing looks and operates has changed dramatically in a short period of time, and it may look and run very differently in five years than it does today. This guide will assist you in developing your approach, but like with any social strategy, you must be willing to adapt.
While working with influencers has certain special considerations, the process of creating a campaign is similar to that of other marketing campaigns: research, create a budget, determine goals, find your influencers, and then review and revise.

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