The value of implementing a long-term influencer marketing strategy
To be successful in influencer marketing, you’ve got to be in it for the long-term.
It’s an approach that’s currently being acknowledged and implemented by more brands, and it’s an effective tactic that brands use to earn longer lasting results from their influencer marketing campaigns. Brands that are new to influencer marketing typically commit to a one-off collaboration deal with influencers, but by engaging in these types of transactions, they’re missing out on the many benefits of maintaining ongoing influencer relationships.
Debunking Common Assumptions
Many brands are hesitant of accepting the idea of engaging in long-term partnerships with influencers. They may believe that planning a multi-month or multi-year influencer campaign is too expensive or too complicated to coordinate. Others may believe that targeting the same audience is an ineffective marketing strategy.
But here’s the thing: working with a stable set of influencers can save you both time and money. Instead of negotiating compensation and collaboration details with every new influencer you work with, you’ll have a network of influencers who already meet your budget. They’ll also have prior knowledge of your brand’s guidelines and goals, so they’ll know exactly what your brand needs, thus allowing you to avoid the time-consuming task of continually explaining your collaboration expectations.
In addition, as we’ve seen with traditional television advertising, retargeting the same audience with a sponsored ad is an incredibly effective marketing strategy. Consumers who are exposed to a single marketing message will likely forget your brand within a week. By continuously partnering with the right set of influencers to publish sponsored content, you’ll be able to ensure that your target audience is constantly exposed to your product or service, which will help boost brand awareness and memorability — your brand will be at the forefront of your audience’s minds when they make purchasing decisions.
So how do you start reaping the rewards of long-term influencer marketing?
Measure Your Campaign Results
It’s imperative that you closely monitor the results of your influencer marketing campaign to determine whether the campaign was a success. One of the core ingredients of a successful influencer campaign is to collaborate with the right and relevant influencers. Without adequate measurements, it’ll be impossible to know who’s working well for your campaign and who’s not.
By constantly measuring the effectiveness of your influencer marketing campaign, you can get a clearer picture of which influencers are right for your brand and what impact they had on your campaign.
Rehire Influencers That Have Met Your Campaign Goals
When measuring the results of your previous influencer marketing campaigns, keep an eye out for influencers who have stand-out engagement numbers (likes, shares, comments, or views) on their sponsored posts. You should also note the cost per engagement to assess how effective the influencers were for your campaign and whether they delivered your ROI.
If you identify influencers that have met or surpassed your campaign goals, they are a great match for your brand — rehire them for a long-term partnership!
Test New Influencers
After identifying the influencers that worked for your previous campaign and those who didn’t, you’ll need to find more influencers who will deliver similar stellar results. When searching for new influencers, it’s important to find ones that are aligned with your brand’s values, so you can find a relevant audience to target, and to focus more on the influencers’ engagement rates than their follower size, as those with higher engagement rates have greater influence.
Engagement rates gauge how responsive the influencers’ audience is to the influencers’ content, which indicates how responsive the influencers’ audience may be to your sponsored post — higher engagement rates are likely to return higher conversions!
The Bottom Line
Influencer marketing is most effective when you have a clear, long-term vision. An ongoing influencer marketing campaign will help boost awareness of your brand, save you time, and more importantly, keep your brand relevant. By engaging in a genuine, long-term relationship with influencers, you’ll be able to fully maximize the true value of influencer marketing.