According to the recently published, benchmark report on the state of influencer marketing, by The Influencer Marketing hub, 68% of marketers are looking to increase their influencer marketing spend this year.
The industry has also seen growth from $13.8 billion in 2021 to predicted growth of approximately $16.4 billion in 2022.
The influencer marketing space is growing rapidly and with so many influencers surfacing by the day. So yes, I understand, that it can be hard to choose the right one for your brand. Whether you are a start-up or a well-established brand, here are some of the questions you should be asking yourself when selecting influencers for your brand.
1. Is this influencer interested in the product I am trying to sell?
Influencer marketing thrives on authenticity, if your influencers do have any existing appreciation for your brand it would be very difficult for them to tell your brand story without coming across as too “salesy.” Go through content they have previously created to get an idea if they would be interested in your product.
2. What type of campaign am I trying to run?
In essence, will this be a short-term or a long-term campaign? A good understanding of this will inform the type and number of influencers you decide to onboard for your campaign. Existing knowledge of your target market should lead here.
3. What are their engagement rates like?
The Influencer benchmark report also showed that influencer accounts, on Instagram with a particularly larger following, tended to have lower engagement rates. This makes sense- it is much harder for popular accounts to reply to every comment or message or engage closely with their followers as is the case for Nano or Micro-influencers who have a smaller following. Also according to the report, “many people deliberately choose to follow popular influencers passively, happily “lurking,” viewing shared images without active participation.” Regardless, checking the engagement rates of prospects is a sure way to ensure that you are on your way to getting a good return on your investment. Accounts with engagement rates between;
Good engagement rates: 1.64% and 3.48%
High engagement rate: 3.48% and 6.67%
Very high engagement rate: 6.67% and 10%
4. What is in it for them?
Before you start anything, you need to understand that, this is not only about you or your brand. Understanding what the influencer stands to gain from promoting your brand also enables you to see if they are the right fit for your campaign goals. Influencers are also building a brand for themselves and aligning with your brand is as strategic as it is for you as it is for them.
5. Are you willing to give this influencer full creative freedom?
A question for the brand itself, and I cannot stress it enough. A lot of businesses have shied away from influencer marketing because they found that they had limited control. Trust comes in here if you’ve done your due diligence up until this point. You need to understand that the influencer understands their audience better than you do. Do not assume, they will use the script you provide, your campaign is only a fraction of their social media strategy. You can either choose to work with them on the concept creation process, but for best results leave the execution to them.
6. What does their audience demographic look like?
If you are a beer retailer, you would not want an influencer whose main audiences are 12–15-year-olds, unless your campaign somehow directly affects this group. It is important that you ask your influencer of choice to provide you with this information before you follow through with the campaign. This way you are ensuring that you are reaching your target audience. Most platforms should have these insights readily available, so long as the account is a creator account.
There may be more questions you would like to ask yourself or the influencer, but these are among the key questions you should be asking to make sure you are selecting the right influencers for your brand.
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