INFLUENCER MARKETING
A form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field. Pairing the right influencer with the right strategy would help the company bring more awareness, conversions and revenue.
TYPES OF INFLUENCERS
mEGA
500K to 1 million+ followers
Provide brands with a notably great reach but a very high cost.
macro
100K to 500K Followers Reaching a broad demographic - e.g. young females
micro
1K to 100k followers Focus on a specific niche/area, have stronger relationships than a typical influencer.
cHOOSING INFLUENCERS FOR TARGET MARKET
MICRO - INFLUENCER
I think that micro-influencers works the best as they have the least followers among the other influencers, hence they get to interact with their followers. By interacting more with their followers, they engage more and followers would trust them more. Micro-influencers are also perceived as "people like me", so when people see them carrying or promoting Buhi Bags, they might actually be keen to purchase because they trust them and also want to be like them.
To target the right market, the influencers should have relevant interests with the market. This would allow the audience to relate better and be more interested as it is something that they are interested in.
As seen from the pictures, the interests of the influencer and the market are similar, this would increase the engagement and conversions.
INFLUENCER MARKETING STRATEGY
There are 6 types of strategy provided after your choice of influencer has been confirmed, each of the strategies works differently in different social media platforms. Choosing the right strategy would lead to positive results in revenue.
In the 3 influencer rounds, I tried affiliate marketing, social media takeover and giving gifts to the influencers. I feel that the affiliate marketing strategy works the best for me as it created the most impressions and brought the most revenue compared to other strategies.
LEADING DRIVERS FOR REVENUE
These were the leading drivers for revenue gained from Instagram. Micro-influencer World Travelers brought the highest conversions and revenue to Buhi Bags. They increased the impressions from Instagram compared to Twitter with 463,737 impressions. Hence, I feel that I made the right choice in choosing micro-influencer as it cost the least compared to other influencers.
Factors to Consider
During the influencer rounds, I used this website provided by Mimic Social to help me execute my influencer marketing rounds. The website has provided11 factors to consider, I used the various factors to help me select my influencers. ​
Define my target audience​
1
Set objectives
2
MEASURE THE RESULTS OF YOUR INFLUENCER CAMPAIGNS
3
