At some point in our lives, there’s probably been a trusted person who influenced our viewpoint on a certain subject, given sound advice, or helped us make an important decision. Maybe it was a teacher, a good friend, a peer, or even a celebrity.

In business as in life, persuasion is powerful.

Last year, the influencer market in the U.S. was valued at $16.4 billion. That was a record number, yet it’s predicted to grow in 2023. Today, developing an influencer marketing strategy is integral for brands to connect with a wider audience, increase awareness, build trust, attract new customers, and ultimately drive sales.

What is an Influencer Marketing Strategy? Influencer marketing enables collaboration with a person (with a following) on social platforms such as Instagram, TikTok, or YouTube to promote your brand. An influencer marketing strategy leverages a digital creator who has ‘influence’ on a specific industry or audience. By developing a focused strategy, you can partner with these individuals to effectively spread the word about your brand, products, and services.

Benefits of an Influencer Marketing Strategy Influencer marketing has the ability to reach new audiences by creating engaging and interactive content that can help to boost online conversions. Other major benefits include:

  • Builds trust and authenticity with the influencer’s fans
  • Boosts awareness by sharing your brand story
  • Allows you to reach audience members already interested in your product or service
  • It’s cost-effective and improves ROI

Steps to an Effective Influencer Marketing Strategy Let’s discuss seven steps that’ll help you create and implement a winning influencer marketing strategy.

  1. Define your goals and budget

    • Determine the overall purpose of your influencer marketing campaign and set measurable goals.
    • Allocate a suitable budget, considering that 39% of marketers invested 10 to 20 percent of their marketing budget into influencer marketing last year.
  2. Identify your audience

    • Define your audience by demographics, psychographics, buyer lifecycle stage, or preferred social media channel.
    • Developing personas can aid in understanding the qualities you’re looking for in a potential influencer.
  3. Choose a campaign type and messaging

    • Determine campaign types such as guest posting, sponsored content, contests, mentions, etc.
    • Ensure content aligns with your brand voice and values.
  4. Find your brand influencers

    • Qualify influencers based on their fit with your brand, their content relevance, engagement rates, and prior brand collaborations.
    • Trust is crucial for successful influencer campaigns; ensure their opinions resonate with your audience.
  5. Manage your campaign

    • Establish smooth onboarding processes, clarify expectations, and collaborate with influencers to ensure authentic content creation.
    • Avoid treating influencers as employees; recognize them as brand ambassadors.
  6. Track your success

    • Monitor campaign performance using metrics like website traffic, social mentions, engagement rates, leads, sales, and overall ROI.
    • Utilize UTM parameters and analytics tools for detailed social media results analysis.

Interested in starting your own influencer marketing program? Five Agendas can help. We develop comprehensive influencer campaigns that expand reach and spread brand awareness within targeted online communities. Together, we’ll leverage the power of social influencers to help grow your brand.