This year influencer marketing is expected to grow significantly, to a market value of $13.8 billion. That’s more than double the amount it was only two years prior.
From this number, it’s evident that a growing number of companies are looking to influencer marketing as an important component in their digital marketing strategy. And on the other side of the table, social media influencers are increasing in number and becoming more professional by the day.
Success at influencer marketing is contingent on brands and influencers sharing the same interests and working in tandem. If you’ve had issues when working with influencers or just beginning to learn about this strategy, continue reading for five tips to collaborate with influencers.
1) Think about the various types of incentives
- 1) Think about the various types of incentives
- 2) Make sure you have your campaign information organized before you start negotiating
- 3) Do not assume that you will always require an agreement
- 4) Give influencers freedom of expression when they’re creating content
- 5) Be welcoming and open to relationships that last a long time
One of the most crucial aspects of collaborating with influencers is the payment. Brands looking for influencers should know what they can afford to pay for the influencer services. This allows you to contact influencers who are within your budget.
There are two types of influencer incentives, which are monetary and non-monetary. The first category includes all kinds of money-based payments including commissions, flat fees, bonuses, etc.
The third is any free services, products or experiences offered by your company. The majority of influencer collaborations contain these types of incentives because brands typically prefer the influencer to highlight their products in their social media posts.
Avoid wasting time contacting influencers who aren’t within your budget. And when you start negotiating, be aware that you have the option of adjusting the quantity and kind of content to meet your budget. For example, maybe an influencer charges too much for an Instagram post, but could create a story for a price that works for you.
2) Make sure you have your campaign information organized before you start negotiating
Alongside knowing the amount you can afford to pay influencers, you need to have the details of your campaign set up before you begin negotiations.
You should think about what you want influencers to incorporate in their content, for example:
- Brand mentions
- Branded or industry hashtags
- Links to your site or E-commerce
- Discount coupons for followers to utilize
Collaboration will run more smoothly if you’ve got all these details in order at the beginning. This way, during negotiations you’ll be able to clearly discuss your plan with the influencer and make sure that they’re okay with it. They can also ask any questions in advance and not at the last moment when they’re ready to publish.
3) Do not assume that you will always require an agreement
Contracts aren’t required in every influencer collaboration. Actually, they can sometimes end up as “conversion killers” that can turn off less-experienced influencers.
As a rule you should use contracts in the event that you’re paying an influencer monetary compensation. However, if you’re paying them just with free goods and services, then you’re not really required to create a contract. An exception is when the item you’re offering them is extremely significant, such as a new car.
If you decide to use a contract, ensure that you discuss this with your influencer. When you’re dealing with top influencers, they (or their managers) are accustomed to managing contracts. However, if you’re working with micro or nano micro influencers, they may not have read this type of document before.
4) Give influencers freedom of expression when they’re creating content
It’s acceptable to request that influencers incorporate certain items in their posts, such as hashtags and mentions. It’s also fine to have general guidelines for aesthetics in content.
Perhaps, for instance, you’d like them to feature your brand’s color in some way. Or maybe you design sporting apparel, but you would like them to display it outside rather than inside the gym.
Do not, however, micromanage influencers while they are creating content. They should be allowed to exercise their creative freedom.
This is particularly important for live-streamed content, such as the videos made by Twitch streamers. Live streams are dependent on the influencer’s reaction at the moment. And if you try to coach them too much, you run the risk that they will appear too scripted and unauthentic.
They’re the most qualified person to determine the best way to interact with their followers, so let them make that decision.
5) Be welcoming and open to relationships that last a long time
Most importantly, make sure you’re respectful and friendly during all conversations with influencers. This will allow you to build a stronger relationship with them throughout the campaign and possibly in the future, as well.
Open yourself to the notion of working with long-term partners. If you notice that an influencer is particularly successful when promoting your brand, invest some time into keeping the relationship going.
Long-term influencer collaborations typically are more successful than one-offs since it helps build a sense of consistency and a feeling of trust within the minds of the audience. Therefore, always be on the lookout for potential brand ambassadors so you don’t miss out on a great opportunity.
Follow these 5 tips for easier cooperation with influencers. Keep in mind that no campaign will succeed when you don’t establish an objective and plan out your strategy. So make sure to spend some time on this before you start contacting and working with influencers.