You may increase brand recognition, drive more traffic, increase brand authority, and attract new customers with the aid of an effective influencer marketing campaign. 90% of marketers think influencer marketing is a successful tactic, therefore most firms are aware of the influencers’ potential. However, the correct influencer marketing plan is necessary if you want to maximise the impact of your efforts.
Influencer marketing has a lot of advantages, but even if you’ve conducted campaigns previously, it can be difficult to set up, launch, and manage everything. Along the route, there are many obstacles to overcome, such as locating influencers that reflect your brand’s beliefs, calculating the prices, and navigating the legal documentation. These difficulties may cause your campaign to lag or keep you from receiving the desired outcomes.
To assist you in developing an effective influencer marketing plan for your brand, we wrote this guide. Continue reading to find out how to develop a successful influencer marketing plan from beginning to end.
How To Develop a Successful Influencer Marketing Plan?
We at Storyclash deal with numerous renowned B2C and DTC businesses, therefore we are aware of what distinguishes a successful strategy. To acquire the finest outcomes for your brand, adhere to this step-by-step procedure.
Define your campaign objectives
Every strategy begins with choosing the appropriate objectives and key results (OKRs), as many marketers do in order to determine their level of success. Your larger company objectives will determine the campaign objectives you prioritise:
For one of your important product areas, do you need to increase sales and conversions?
Or are you concentrating on objectives like achieving a specific level of engagement or reach?
Decide what you want to accomplish right away so that you can stay focused throughout the process and evaluate the results later.
Create a general setup plan
Whom, when, how much money, and where are you trying to reach?
The success of your campaign depends on the responses to that question.
Spending time and money trying to connect with a particular demography only to discover that your product is actually better suited to a different client cohort is not something you want to do. To determine the proper targeting criteria, it is worthwhile to take the time to examine your present clients, consult with your sales staff, and look into your analytics tools.
You also need to decide how much money you want to invest in your campaign and when it should run. This will be obvious if you are organising a product launch or event with a specific date. If not, you might need to conduct additional brainstorming.
Track down real influencers who can help your brand
Are you prepared to locate influencers for your brand? For your entire influencer marketing effort, the discovery phase is crucial.
The most effective influencers can reach audiences that are interested in them and that they have painstakingly developed over several years, if not longer. They are in a prime position to expose your business to potential new clients because of the great amount of confidence their followers have in them. Finding influencers, according to 34% of brands, is their biggest issue, so it’s not so simple.
When interacting with influencers, haggle over the terms
While influencer marketing can be highly glamorous and exciting, it also involves some tedious but required paperwork. Any influencer you work with must agree to the terms and conditions in writing after a negotiation.
The collaboration will be compensated; if so, how much? What do you anticipate in return? Exist any further crucial terms, such as exclusivity? It is advisable to put everything in a formal contract and have your legal team or advisor approve it.
What is the price of an influencer? A survey by hypeauditor found that 46.10% of mega-influencers (above 1M) make up to $1,000–$2,000 every post, compared to 70.7% of micro-influencers (1K–10K) who reported receiving less than $100 on average.
Go over the specifics of the partnership
Therefore, you are aware of who you are working with, how, and what your objectives are. At this point, it is your responsibility as the brand to inform the influencer about the campaign’s goals as well as your company’s core principles and brand identity.
It is typically ideal to allow the influencer full creative control so they can unleash their creativity because they are the ones who know their audience best and understand what types of material will resonate with them. Results that are highly prescriptive and controlled by the brand’s micromanagement of the creative process frequently come out dull and artificial.
Monitor your marketing
Now that you’ve gotten this far, your campaign is running. Congratulations! Now that your campaign is up and running, you should pay close attention to it.
It’s crucial to avoid making a mistake now after your thorough planning. You must closely monitor the progress of the campaign and how users are responding to the content because conversations on social media can take off quickly.
Keep an eye on crucial figures like:
Reach Engagement Sales
Report, examine, and assess
Measuring the outcomes and compiling the lessons learned is the process’s last step. Have you met your campaign objectives? In order to know what kind of content and which influencers to concentrate on the following time, create reports of the collaborations with all essential performance data and look for any patterns.