Introduction
The digital marketing landscape has over the years undergone tremendous transformation and for those businesses that haven’t really been able to keep up with it have been losing customers in the market. While many still look up to the traditional means of marketing, influencer marketing is one such strategy slowly gaining great popularity in the industry. Influencer marketing which is today a trending strategy for promoting business is steering new means of branding and promotion. Businesses are now approaching Influencer marketing companies in Mumbai for campaigns and business promotions.
Statistical backing of trending influencer marketing strategy
Today, going by statistics if you see it does make sense why influencer marketing is such a popular technique for driving sales.
- When it comes to millennials only 2-3% of them trust or go by the advertisements. On the contrary, nearly 30 % of them trust influencers they follow and go by their blog reviews for their purchases.
- Another interesting fact surfaced is that nearly 40-45% people purchase products online recommended by influencers on YouTube, Instagram, Facebook or Twitter.
So, it’s easy to see why businesses are increasingly approaching influencer marketing agency in Mumbai to promote their brand.
Tips for building a successful influencer marketing strategy
Building a successful influencer strategy is all about being focused and goal-oriented. Here are some tips to help you build and execute influencer marketing strategy for business.
Define goals and key performance indicators-
Building brand awareness- Defining goals is very important for it helps in building strategy around it and executing campaigns to achieve business gaols. So, for instance the basic objective of any business is to build brand awareness and to achieve this some of the key performance parameters would be tracking an influencer’s follower count, likes, engagement in the form of comments, use of your hashtags, and shares. By defining goals and key performance indicators, one can accordingly figure out a viable channels and suitable influencers to meet those goals.
Tapping new market- For those business looking to capture new market share, they need to collaborate with influencers who can create a buzz about the brand and drive sales. They need to accordingly look for a viable channel that can get them new customers for their business. Attracting a new target market will involve not just driving sales, but also building brand awareness, and introducing product and services into the new space.
Lead generation- Everything finally sums up to generating leads and boosting sales. This can only be achieved by collaborating with influencers having great engagement with their followers. So, partnering with influencers having good follower base and the ones who frequently engage with clients can help boost sales and grow business.
Knowing which partnership best works for your business will help you get the most out of your influencer strategy and gain fruitful results. You can eventually compare the results to determine whether the influencer marketing is giving you ROI worth continuing or not.
Understanding Influencer Landscape
It is absolutely essential and critical to establish a partnership with relevant influencers who can be trusted and are in tune with your target audiences. Collaboration with influencers and execution of influencer marketing strategy can only be successful, if the audience is in tune with the influencer and trusts their reviews on products and services. For this, it is essential for businesses to collaborate with best influencer agency India to find them right market influencer.
Expanding your reach beyond YouTube & Instagram
YouTube and Instagram is usually what first come to one’s mind when planning to find top notch influencers. However, one must try capitalizing on influencers across other platforms like Facebook, Twitter, Snapchats and other social media platforms as well. The primary goal is discovering influencers based on the industry niche and audience demographics, to deliver on all engagement metrics. One needs to find the right fit between a viable channel and influencer who is aligned with your brand’s vision, mission, and identity. Research on where exactly is your target audience active and accordingly capitalize on that influencers on that specific platform to approach your target audience. Influencer marketing companies in India specialize in this and can definitely help you find the right platform and influencer to promote your business.
Collaborating with Micro-Influencers-
Micro-influencers are the ones who usually cater to specific niche or market segment. Although they may not be good in numbers especially in terms of followers, but they are the one’s who usually have better engagement with their audience. It has always been a known fact that the larger the influencer, the lower the engagement. So, for instance, those having 1000 followers typically get 10% more likes than influencers having over 100,000 followers due to low engagement with the audience. Quality of engagement is much better with a micro-influencer than a macro influencer in general. So, collaborating with micro influencers, you will enjoy better penetration and significant reach to the target audience. It will definitely be more valuable for you to work with a micro influencer who is popular in your niche and has loyal and relevant followers who look up to them for their reviews on products or services.
Approaching influencers using videos-
For those not using video platforms to promote their business are already way behind the curve. Tapping into channels of video production for influencer marketing will not only help increase brand awareness but also help grow business substantially. Many brands are today pulling out their investment from advertisements on YouTube and opting for influencers using video to promote their business. So, with the help of influencer marketing agency in Mumbai try your hands-on collaboration with video influencers to promote your brand ad create a buzz than opting to invest in traditional YouTube ads on which you have no say or control over the audience targeted. Even social media video marketing shall offer a better opportunity for boosting your brand visibility than traditional advertising channels. Facebook and Instagram live stories and recently launched Instagram TV (IGTV), is the recent and the most popular channel for streaming longer content or videos to their followers for promoting business online. So, partnering with influencers on these social media channels can also be a viable option for your business.