Strategies for Influencer Marketing for Businesses

by Kunwal Malik

My name is Kunwal Malik. I am an influencer by the name of HalalFoodAddict and the face behind the brand “This Is She” (Instagram-thisisshe.official) and the founder of DigiMerlin. A business that focuses on growing businesses digitally.


Like mine, many businesses rely on digital and influencer marketing nowadays. It is the most convenient way for anyone to market as you can just sit at home and reach customers anywhere in the world. Pretty sweet, right? It is if it’s done correctly. 



The convenience and ease comes with the risk of wasting your money. That’s why it is important to use the right strategies to make influencer and social media marketing more effective. As an influencer and a business owner, I wanted to share some helpful tips for businesses thinking of growing their businesses using influencer marketing.

                       
Some Strategies to use when considering Influencer Marketing:

1. Make a marketing budget
2. Make a list of influencers
- Start with a list of influencers you are interested in
- Look for organic following
- Check their engagement rate
- Check their followers to see if it meets the criteria of your targeted audience
3. Do justice when it comes down to pricing
- Offer commission along with a small fixed rate. Commission works best for when seeking conversions. Do not get forced into a fixed payment
- Always pre-calculate ROIs before signing any influencer up. For example: If an influencer with less than 100k followers charges 10,000 BDT per post and their engagement rate is less than 5%. Which means their reach will be less than 5000 followers. Would that be worth your investment?
- Compare FB/Instagram promotional ads reach and the cost with the influencer`s reach to determine the right strategy and the fair pay for the influencers. For example: what will the ROI be if you used other media for marketing instead of influencer marketing
4. Draw up a contract
- If it’s a paid promotion, make sure your contract includes clauses restricting them from promoting competing businesses for 3 to 6 months
5. Evaluate and re-evaluate after the collaboration to analyze if the promotions were worth the investment
6. Based on the results make decisions on whether to continue or to move forward with a different strategy

Things to be aware of:

1. Influencers with fake following
2. Low engagement rate
3. Their targeted audience (Age, Gender, Area)
4. Unreasonable rates. Influencers sometimes charge based on how they perceive the brand
5. Poor content quality

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