Why You Need an Effective Influencer Marketing Strategy in 2023
Have you ever scrolled through your Instagram or TikTok feed and found yourself drawn to a new product or service? You’re not alone! A recent study by agency Matter Communications found that 81% of consumers reported that social media posts drove interest. These posts were from influencers, friends, or family members within the past year. This high percentage indicates that influencer marketing is a powerful tool for businesses looking to promote their products or services. Many consumers embrace influencer marketing, making a strategy essential. To take advantage, businesses need an effective influencer marketing plan.
What is an Influencer Marketing Strategy?
An influencer marketing strategy is a plan for using social media influencers. The strategy outlines how to promote your brand’s products or services. It involves identifying the right influencers, setting goals, developing a content plan, and measuring the success of your campaign.
According to Matter Communications there are some interesting findings. The most successful influencer marketing categories are food and beverage, health and wellness, and beauty and personal care. When asked which platform hosts the most authentic influencer marketing content, 36% of consumers placed YouTube at the top of the list.
Benefits of a Successful Influencer Marketing Strategy
- Increased Brand Awareness: Working with influencers can help you reach a wider audience and increase brand awareness.
- Improved Trust and Credibility: Influencers have built trust and credibility with their followers. This then can be transferred to your brand through their endorsement.
- Greater Engagement: Influencer marketing can help you increase engagement on social media. This is done by creating content that resonates with your target audience.
The Matter Communications study found that consumers are increasingly looking to influencers as an educational resource. The study revealed that consumers prefer certain types of content. Content such as how-to content like recipes and tutorials (42%), stories with digestible bits of information (35%), and photo or image-based posts with information in the caption (33%).
Tips for Developing an Effective Influencer Marketing Strategy
- Identify Your Goals: To develop a successful influencer marketing strategy, start by identifying your goals for the campaign. This could be to increase sales, generate leads, or improve brand awareness.
- Research and Identify the Right Influencers: Research and identify influencers who align with your brand and target audience. This is essential for developing the most effective influencer marketing strategy.
- Develop a Content Plan: Develop a content plan that aligns with your goals and messaging. Make sure that resonates with your target audience as part of your influencer marketing strategy.
- Measure and Optimize: Use metrics such as engagement rates, click-through rates, and conversion rates to measure the success of your influencer marketing strategy. Optimize your approach as needed to ensure maximum impact.
The Matter Communications study also revealed that consumers prefer influencers who have a relatable personality (61%), followed by expert personalities (43%), just-for-fun personalities (32%), and aspirational personalities (28%). This means that followers are more likely to engage with influencers who they feel they can connect with on a personal level, a critical aspect of any effective influencer marketing strategy.
However, with the rise of influencer marketing comes a rise in consumer skepticism. The Matter Communications study found that 63% of respondents noticed an increase in sponsored content from influencers on social media in the past year, and questions about the authenticity of influencer recommendations are becoming more commonplace.
To combat this skepticism and ensure a successful influencer marketing strategy, it’s more important than ever for brands to focus on sharing credible, authentic content that highlights positive messages and experiences around their products and services. By doing this, brands can balance out undesirable opinions from disgruntled or unhappy influencers.
In conclusion, influencer marketing is a powerful tool for reaching new audiences and promoting your brand. But to take full advantage of this advertising tool, it’s important to have an effective influencer marketing strategy in place. By identifying the right influencers, setting clear goals, developing a content plan, and measuring the success of your campaign, you can increase brand awareness, build trust and credibility, and drive engagement on social media. Remember to focus on sharing credible and authentic content that resonates with your target audience, and strive to create a personal connection with your followers through relatable influencers. By following these tips, you can develop a successful influencer marketing strategy and stay ahead of the curve in 2023.