How to Increase Your Influencer Marketing ROI
Every business needs investments. There is no other way to make any progress. The return on investment is the true measure of success. Every company is looking for new methods and strategies to improve its ROI, whatever the investment is. Lately, influencer marketing has been one of the most efficient marketing strategies for social media. With that in mind, we want to spend some time and talk about ways to increase your influencer marketing ROI.
How to maximize your investment when it comes to influencer marketing?
The last thing you want is to invest money in a marketing strategy and still have a low profit. To drive positive sales with influencer marketing and make a profit, you must ensure you are helping your influencer. Even though they are the ones doing the advertising, you still need to make sure you are providing the necessary information and guidance. You can do this in a couple of simple yet crucial steps:
- make sure you are working with the right person for your business;
- define specific goals and share them with the influencer;
- get full rights to all content;
- adapt the content for all platforms
- keep track of relevant metrics;
Are you working with the right influencer?
As we all know, there are different types of influencers. Having more followers does not mean that a particular influencer will benefit your business. If you are a startup company, you will profit more from influencers with around 10000 followers. Their cost is lower, and they have all the desire to prove themselves and build a larger audience. They can also benefit from doing business with you, which means they will be more invested. Thus, learn how to choose the best influencer for your needs, and your ROI will quickly skyrocket.
Be clear with your marketing specifications
To increase the ROI, you need to have clear communication with your influencer. They need to understand what you want and what your business needs. For this, you first need to define marketing goals. And remember, they need to be SMART! That is the only way to keep track of relevant KPI metrics and know if the marketing strategy is bringing any positive results. If you don’t know what your business needs, neither will the influencer.
Buy full rights to influencer content
Even though an influencer makes content for your business, that does not mean you own the copyright. If you wish to gain full benefits from working with the influencer, you must include this clause in your contract. Remember that some influencers do not like to sell rights to their content. In this case, it might be worth finding someone who will. The majority will agree to this step if you offer a little bit more money.
Adapt content to all platforms
Influencers usually work on multiple social media platforms, even though they might be more popular on one than on others. At the same time, you want to advertise your business on as many platforms as possible. Your clients might be coming from different social media channels, so you want to cover all of them. If you are working with a YouTube influencer, can you use the same video ad on Instagram, Twitter, or Facebook? Every social media platform has a specific way of posting content. It would be an intelligent move to optimize it so it can bring better results. Besides adapting content to all platforms, you should also be active on all platforms. And it is crucial to be consistent. If you feel like you cannot handle more outlets simultaneously, do not do half work. It is better to focus on one platform at a time and slowly build your audience and team to manage multiple platforms.
Keep track of relevant metrics
The only way to know if your marketing goals are achieved is to keep track of relevant metrics. If your goal was to increase traffic by 15% or to gain 10000+ followers on business social media accounts, all you need to do is check the statistics. It is also essential to make sure that the influencer is holding their part of the deal. Make sure they are posting content as agreed in the contract. Also, please keep track of their comments section, and be a part of the conversation.
Keeping track of relevant metrics is definitely essential. However, how can you do that most efficiently? The best solution is to use software that provides a complete overview of all the critical metrics. If we look at all of the available software options on the market, it might be challenging to choose one. You should definitely look into influencer management platforms. This type of software allows you complete access across all the important business areas when it comes to working with an influencer. This is more than just a tracking tool but also a phenomenal piece of software that will help you to shape your influencer marketing strategy and get the most out of it. As an additional benefit, you can use the platform to compare the work of multiple influencers, communicate with them, and commission the one you like. Access to the right type of influencer has never been this easy. With that in mind, take time and sign a contract with the right influencer. There is no need to rush this process.
Increase your influencer marketing ROI by staying active
The final piece of advice that will help you to increase your influencer marketing ROI is to constantly be active in communication. Be engaged and tightly monitor everything that happens. Even though other people are advertising your business, no one cares about it more than you yourself. With that in mind, be present, communicate ideas and goals, and your ROI will always be positive!
About Author: John Johnes is a professional content creator and blogger for MoversTech CRM. He specializes in content marketing and teaches startup businesses how to approach various marketing strategies.