Does it make sense to invest in Influencers within a marketing strategy? Glad you asked.
Turns out, Influencer Marketing Hub found that businesses are making $5.20 for every $1 they spend on influencer marketing. And that’s one exciting stat if you ask us.
Plus, consider the fact that people buy from people. To us, that’s the biggest reason why Influencers are such an effective strategy.
We’ve noticed some chatter in our Facebook group about influencer marketing and today, SEMrush is guiding us through a few strategies starting with the different types of influencers.
- Micro-Influencers: the every day social media user with between 1,000 and 10,000 like-minded followers.
- Macro-Influencers: aka celebrities with hundreds of thousands+ followers. But its also pretty expensive.
- Nano-Influencers: less than 1,000 followers but highly engaged niche.
Now, SEMrush’s 6 steps to building a solid influencer marketing strategy.
- Have a clear understanding of what will or will not work by setting SMART goals. For example, focus on Reach when building awareness on a product or service to a new audience.
- Define a target audience and make sure it aligns with the influencer before you form a partnership. Otherwise, it’s like Ed Sheeran on Game of Thrones. It’s fun but makes zero sense. Focus on building a highly engaged fanbase instead of yelling to the masses.
- Identify your campaign messaging that closely aligns with goals. Include how the influencer can assist in that messaging, too.
- Don’t begin negotiations with influencers without setting a budget. An overall budget for an influencer partnership will involve compensating the influencer as well as products/services to gift. To get you in the right ballpark, WebFX offers this pricing expectation for each social platform.
- Facebook: $25 per 1,000 followers
- Instagram: $10 per 1,000 followers
- Twitter: $2 per 1,000 followers
- YouTube: $20 per 1,000 subscribers
- Snapchat: $10 per 1,000 followers
- Blogs: $60 per 1,000 visitors
Grab the last two steps from SEMrush for an effective influencer marketing strategy!