Influencer Marketing Strategy for E-comm Success in 2020
Everyone now has their businesses online. Every online store now runs Facebook ads alongside Google ads marketing to the same audience using similar keywords and methods. Launching an e-commerce store sounds very easy and seems to have a lot of potential for success. In addition to that, it’s possible to easily lose a lot of money if you don’t do it correctly. Have you have tried Facebook ads, YouTube ads and Google ads and you are still finding it difficult to scale your business from six figures to seven or eight figures? If you have not started to incorporate influencer marketing into your overall digital marketing strategy, then you are missing out greatly. According to an influencer marketing benchmark report in 2019, it was revealed that for every $1 spent on influencer marketing campaigns, a marketer can expect an average return of $18.
Whether you’re just getting started at e-commerce or you want to scale your business to the next level, then this influencer marketing strategy is for you. Read on!
Choose the right influencer(s)
Having a larger number of followers does not directly translate to more engagement, and more importantly higher conversions. In our experience, we have watched microinfluencers generating more awareness and engagement for your brand than celebrity influencers with millions of followers. The essential point of difference is that microinfluencers have targeted audience rather than celebrity influencers who mostly have fans instead of audience that are truly interested in their offering. Also, with influencers, your brand provides a more personable approach in which you can connect with your audience more directly.
In most cases, celebrity influencers are not the ones managing their accounts. So what does that mean for you business directly? That translates to the understanding that your leads are not being received by them directly. This affects negotiation and even makes working with them more expensive compared to working with microinfluencers. Additionally, working with microinfluencers builds trust in your brand because people believe that they’re highly knowledgeable about their offering because they are niche specific. This trust and engagement adds credibility to your products and leads to higher conversions. In the year 2018, two Australian men; Manny Barbas and James Hachem went into an e-commerce joint venture which they called Alya Skincare. The challenge was how they would differentiate themselves in such a highly competitive market (Beauty). Using a diversified network of micro and nanoinfluencers, the brand was able to gather a warm distributed network of highly engaged audience that within just three weeks the skincare brand had sold off over 30,000 jars with over $50,000 dollars in total sales. Today, the business is with worth over $2m dollars through influencer marketing and they have created a must-have beauty mask in the global industry.
It doesn’t matter what you’re selling and the degree of competition in your niche. What is important is your influencer network and your message. Manny Barbara and James Hachem didn’t have any beauty experience and had never launched any beauty related products. But they were able to launch successfully and generate seven figures in a matter of two years through the right influencer network and the right message.
Now that you know the benefits of working with influencers for your brand promotion, how do you identity the right influencer? You can’t just work with any influencer just because of their number of followers. There are certain aspects you must take into consideration. Firstly, the same influencer can promote two different products and still have widely varied results and engagement rates. Secondly, the same influencer who has marketed similar products that achieved amazing results may not replicate the same results for similar products in the future. Here’s why. The image, and message, of your brand is very important and you must ensure that whatever influencer you’re working with is ready to communicate such message; keeping in mind that this decision reveals your brand identity. In other words, the connection between the influencer’s voice, message you want to translate, and the product you want to launch is very important irregardless of the level of their audience engagement.
You can leverage tools to analyze and differentiate a fake influencer from a right one. There are tools to analyze an influencer’s level of engagement, audience reach and other relevant information. One of which being our in-house developed software.
For instance, you can use social listening tools such as Mention to identify potential influencers who are already talking about their products and generate a report of their engagement with their audience and the types of content they promote.
Famebit is also another useful influencer analytics tool that provides influencer marketplace. The platform provides an overview of an influencer’s follower statistics, enables in-platform campaign creation, and serves up the advertising concept to influencers who may be a good fit.
Additionally, HYPR’s platform is another tool that’s boasts of more than 10 million influencer profiles that include audience demographics, reach and engagement statistics, and other relevant information that are vital to your influencer marketing strategy. And if you’re interested in knowing more about an influencers experience, platforms like NeoReach give brands a look at companies that influencers have worked with in the past so you can get a broader overview of the influencers experience and even expand your research to know if influencer marketing with such influencer was successful.
Success in marketing depends on your creativity. A video ad for instance will have more reach, connect better with your audience, and will be more likely to gain better engagement as well as conversions when compared to a photo-based ad. Consumers are consuming more video than ever before. Take a look at this stat for instance:
- 92% of B2B prospects consume online video
- 4 billion videos are watched on YouTube every day
- Nearly one-third of shoppers will purchase a product after viewing a video ad
Customers want to see how the products will actually be of valuable to them, and understand how it will solve their problems. And if you can have your influencer demonstrate the benefits of your products then your campaign will surely be successful. Hence why video is diamond content.
Outline Your Influencer Marketing Goals
Start your campaign strategy by defining your goals, and communicating your targets with your influencers. Here are some of the influencer marketing goals to be included in your overall digital marketing strategy:
- Brand Awareness: This involves getting more people to know, recognize, and like your brand. In most cases your concern may not involve making your customers take actions related to purchases.
- Building Brand Identity: Getting people to see your brand personality and values. This works very well if your niche is highly competitive such as the beauty niche.
- Audience Building: This involves getting people to know you, follow your brand and subscribe to your email list which can be used for remarketing and retargeting ads.
- Engagement: This works well if you want to drive more shares, comments, and likes for your content.
- Lead Generation: Getting more people to sign up for your lead magnets and offers.
- Sales: Increasing our number of acquisitions.
- Customer Loyalty: Getting people to stay interested and connected with your brand.
- Link Building: Getting more links directed back to your site.
Choose Your Platform Wisely
One of the biggest traits to an influencer campaign is the definitions of the key platform to be used.. Different social platforms produce different results. For instance, if you’re a content creator involved with creation of online courses then YouTube influencers will definitely work well for you compared to working with an influencer on Twitter. Additionally, different platforms have different unique features. For instance, Tiktok’s most significant feature is video sharing. If your Influencer marketing goal is to quickly raise brand awareness, generate more video shares then Tiktok will work well for you.
Another major factor to consider is your platform’s user demographics. If you’re selling products meant for adults between 55 – 70 years then you might need to consider another platform other than Tiktok. The largest group on TikTok are people aged between 16 and 24. They make up 41% of the total user-base. This translates into, if you are into fashion accessories for teens, adolescents, and individuals in their twenties and thirties then influencer marketing on TikTok would be a good market. Also, if your brand is related to digital products such as B2M marketing softwares, then TikTok marketing probably wouldn’t make a good investment.
Make Sure Influencers Understand Your Brand’s Voice
Once you’ve identified influencers to work with and which platform to choose, then it’s time to craft that message. The best form of influencer marketing is one that creates a partnership between your brand and the influencers themselves.
Start your message with what your influencers would get working with you and then craft the kind of message you want to be shared. If your goal is to create brand awareness and drive engagement, start by asking yourself what you want your audience to say about your brand. Your message will affect your social shares. Build a unique hashtag around your brand and make that an integral part of your influencer marketing campaign. Discuss this message with your influencers and monitor performance. Also, if your goal is to generate leads, you might want to consider creating offers, deals, lead magnets that will attract your audience. Develop a buyer persona to have a better understanding of the type audience your brand will be engaging with in order to craft the ideal message for them.
Influencer marketing is an important tool in your toolbox, so why not take advantage of it?. Your campaign should begin with a strategy, specific goals and key metrics to monitor performance. Conduct your research, set a budget, determine goals, find your influencers, review and revise and don’t give up. If you’re finding it difficult to find the right influencers and develop an influencer marketing strategy, feel free to schedule a consultation with us. #Sosani