In the coming year this year, the influencer marketing business is expected to have a market worth of $13.8 billion. That’s more than twice what it was just two years ago.
This statistic makes it evident that more and more companies are looking to influencer marketing as a crucial element in their digital marketing portfolio. And at the other end of the table, social media influencers are increasing in number and advancing their skills.
Success with influencer marketing depends on brands and influencers sharing the same interests and working in tandem. So if you’ve had issues with previous collaborations with influencers, or you’re just getting started with the strategy, read on for five suggestions for successfully working with influencers.
- Know what you can pay them and how
One of the most important aspects of working with influencers is paying them. When doing brand collaborations, you must know how they can afford to pay for the services of creating content. This allows you to connect with influencers that fit your budget.
There are two types of influencer incentives, which are non-monetary and monetary. The first is any kind of payment that is paid in cash including flat fees, commissions and bonuses, etc.
The third is any free services, products or experiences provided by your company. The majority of influencer collaborations contain these types of incentives because brands typically want the influencer to highlight their products in their posts.
Define what you can provide from the beginning to ensure that you don’t spend time contacting influencers outside of your budget. Being transparent about incentive from the beginning will help you get off on the right foot.
- Get your campaign’s details in order prior to beginning negotiations
As well as knowing what you are able to pay influencers, you must get your campaign logistics details prepared before you begin negotiating.
Consider what you would like influencers to feature in their content, for example:
- Brand mentions
- Industry hashtags or brand-name hashtags
- Links to your site or ecommerce
- Discount codes to share with their followers
Collaboration will go more smoothly if you’ve got these elements in place at the beginning. Like this, during negotiations you’ll be able to clearly explain your plan with the influencer and ensure that they are at ease with the process. They are also able to ask any questions prior to the time of posting and not at the last moment when you might not be available.
- Do not assume that you will always need a contract
Contracts aren’t require in the majority of influencer collaborations. Indeed, they can occasionally end up as “conversion killers” which can turn off less-experienced influencers.
In general, it is recommend to use contracts in the event that you’re including monetary compensation in the incentive package. But, if you’re only providing them with free products, it isn’t necessary to sign a contract, unless the product is very expensive (like a motorbike or diamond jewelry).
If you choose to use the contract, make sure you discuss it with the influencer. Top influencers (or their managers) are accustom to handling contracts, so they most likely won’t think twice. However, if you’re working with nano or micro influencers, they may not have read this type of document previously and will probably have questions.
- Give influencers the freedom to be themselves in their content
It’s okay to ask influencers to include certain elements in their content, such as hashtags and mentions. It’s also acceptable when you’ve got some general guidelines regarding aesthetics in content.
For instance, perhaps you’d like them to reflect the colors of your brand in some way. Perhaps you design sporting apparel, and you would like your customers to wear it while working out outside, and not indoors.
Do not, however, micromanage influencers as they create content. They should be allow to exercise their creative freedom. This is particularly important for live-streamed content, such as the videos produced by Twitch streamers. Live streams are dependent on the influencer’s reaction at the moment. If you try to coach them too much, you run the risk that they will appear rehearsed and unauthentic.
An influencer is the most qualified person to determine the best way to interact with their followers. So let them do just that. The campaign’s content needs to feel natural, not like someone from a marketing team was watching over the influencer’s shoulder.
- Be friendly and open to potential long-term relationships
And lastly, and perhaps most importantly, ensure that you are friendly and respectful during all conversations with influencers. This will allow you to maintain a positive relationship throughout the campaign and possibly in the future.
You should be open to the possibility of working with long-term partners. If you find that an influencer does exceptionally well while promoting your brand, invest some time into keeping the relationship going.
Long-term influencer collaborations typically are more successful than one-offs because it creates a consistent sense of awareness and a feeling of trust within the minds of the audience. So if the opportunity presents itself, don’t miss out!
Use these tips to ensure easier cooperation with influencers. Keep in mind that no campaign will succeed without establishing an objective and strategy from the very beginning. So make sure to prepare yourself well before reaching out and working with influencers.