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Influencer Marketing on Social Media:
A Practical Guide for Businesses

What is it?
Influencer marketing is a key ingredient in modern promotional strategies, offering a powerful means to draw in fresh audiences from bloggers and specialized communities. When paired with targeted advertising, this dynamic duo can deliver results that not only match but often surpass traditional marketing efforts.

In influencer marketing, it all boils down to three key questions:
1. Finding platforms with the right audience for placements.
2. Crafting compelling offers and creatives.
3. Ensuring the return on investment for advertising expenses.

Sometimes it's a valuable tool, sometimes it's not. Let's delve into these questions.

Does Your Business Need Influencer Marketing?
Influencer marketing can be suitable for businesses in both B2C and B2B segments, provided they have a specific target audience with clear socio-demographic characteristics, interests, and needs. Additionally, having a quality product, a predictable sales cycle, and a well-structured sales funnel are important. The subject matter can vary from selling courses to cottage communities.

Another factor is ensuring the forecast aligns with unit economics in terms of the cost/revenue ratio. But that's a separate story, covered in a different article.

Influencer marketing also works well when there are already established sales channels. It helps to reach those individuals who may not be reached through targeting or contextual advertising.

Who Should Avoid Influencer Marketing?
There are several situations where influencer marketing might not be effective:
Businesses Requiring In-Depth Analytics In targeted advertising, there's a clear understanding of who sees our posts and ads. Even if ads are shown to a broad audience, platforms like Facebook's ad manager allow us to collect and analyze statistics such as gender, age, and geography. With influencer marketing, this level of detailed analytics isn't available. We rely on data from the influencer or community, or from third-party services (like LiveDune). However, this doesn't guarantee that the right people will receive the promotional message.

What to Do Before Launching Influencer Marketing:
Start with Strategy Before anything else, you need a clear strategy. Begin by defining what you want to achieve with influencer seeding, understanding the resources you have, and planning how to guide your customers through their journey.

Summary:
Influencer marketing can serve as both a full-fledged sales channel and a supplementary one.
It can be seamlessly integrated into a comprehensive business promotion strategy, making it a predictable source of traffic.
However, influencer marketing requires diligence and analysis. It's not just about finding the right platforms and negotiating with administrators.
It's also crucial to evaluate the quality of the platforms and forecast the return on targeted actions.
For a tailored influencer marketing strategy that delivers results, contact us at OUTSTAND.