As brands continue to allocate budgets to influencer marketing campaigns, it becomes crucial to ensure that every dollar spent delivers optimal returns. With the right strategy, it is possible to make your influencer dollars go further and extract the maximum value from these partnerships. In this blog post, we will explore effective techniques and insights that can help brands stretch their influencer budgets, amplify their impact, and achieve greater results in their marketing efforts. So, let’s dive in and uncover the secrets of making every influencer dollar count!
When negotiating with influencers, be clear about your expectations, establish a mutually beneficial arrangement, and consider offering a combination of monetary compensation, product samples, and long-term partnerships to create a win-win situation. If a budget feels too high, push back! However, understand that the influencers themselves will likely have a threshold for partnerships.
While some brands are only looking at their bottom line, it’s important to prioritize influencers with better performing assets. Brands should partner with influencers with high engagement because it indicates a genuine connection with their audience, increasing the likelihood of positive brand perception, message resonance, and desired actions, such as increased sales or brand loyalty. Higher view rates provide evidence that more people will see content and increase the chance of virality. Partners with better performing content may come at a premium cost and should be figured into budgets.
Sometimes walking away from a particular negotiation is the best decision. Some reasons to walk away include: the influencer’s values or behavior conflict with your brand’s values; the influencer demands an unreasonably high price without demonstrating sufficient value; collaboration terms cannot be agreed upon despite reasonable attempts at negotiation. If the influencer is the absolute perfect fit, they are already a fan of the brand, and you think they can represent the brand well, the long-term benefits of this partnership will likely outweigh the higher cost. Learn more about selecting the right influencer partners!
Brands should use nano influencers when there is a need to reach new audiences while obtaining rights to content for brand use. Nano influencers have highly engaged and niche audiences, which can result in more authentic and targeted brand messaging, increased trust, and higher conversion rates. Because their costs tend to be low, their content can supplement both organic and paid brand channels.
Sharing content on organic social media channels is the minimal use case for influencer content. To effectively use influencer content for brands, repurpose and amplify the content across various marketing channels, such as paid placements on social media platforms, websites, and email newsletters. Taking advantage of your content rights will maximize the content’s reach, engagement, and impact on the target audience. Brands may create custom landing pages to highlight the partnership and create a longer shelf life for content.
Influencer marketing can be a powerful tool for brands to connect with their target audience, but it’s essential to make every influencer dollar count. Remember, it’s not only about the quantity of influencers or the size of their following, but also the quality of the engagement and the alignment with your brand’s values that truly matter. With a thoughtful and strategic approach, brands can amplify their reach, impact, and ultimately, their return on investment.
So, embrace these techniques, avoid these mistakes, and unlock the full potential of your influencer dollars to drive meaningful results for your brand! Reach out to info@socialflyny.com to get started!
Written By: Angie Bolotin, Head of Influencer Marketing