Three common reasons why your influencer marketing isn’t working: wrong influencer, wrong content, bad price negotiation.
Here’s how to avoid these traps and make influencer marketing pay off the way it’s supposed to.
If you don’t sponsor an influencer your target customers are watching, you’ve failed your influencer strategy from the get go.
But how do you know if your target customers are watching?
Some social media platforms, most notably YouTube, have audience demographics so you can see what percentage of viewers are male or female, what country they are watching in and the age group of the viewership.
You can also ask the influencer what they know about the people watching (they probably know more than you think, especially if they’re monetizing their social media content).
Have they already talked about your brand? Or another brand with similar target demographics? What were the comments, likes and shares like with that content?
Specificity is key, try and get your target customer as exact as possible. Read this article for more information on how to find the best influencer for your brand to sponsor.
Sometimes it is a case of improving with experience.
Go back over your campaign and analyse the influencers who proved the best return on investment as well as the worst, this way you know which type of influencers to work with again and which to avoid.
It’s not easy to find and recruit the influencers who will deliver the best results, it’s why marketers are turning to outside expertise and analytics like those collected by Sponsokit for help.
If your influencers were on point, the second most common error is the wrong content format.
Doing an out and out app or brand placement is not going to win you too many clicks or installs. Your target customers are preferring native content over ads, not just to the social media platform but to influencers.
It is more important than ever to ensure any referral to your app or brand is incorporated seamlessly into content the influencer would produce even if it was not sponsored.
When briefing your influencers make sure this is clear and ask them to give you an outline of their creative idea for your content before you agree to go ahead with the collaboration.
You can also ask for pre-approval of the final content before it is published, which gives you an opportunity to review if the influencer has followed the brief and request edits.
Many marketers mistakenly either base their payment on the number of subscribers the influencer has or try and negotiate, for example, a cost per install price.
Both these are bad moves. This article explains why cost per install is a poor payment metric.
To summarize it, the price will be higher because the brand will pay the influencer’s share of the risk on performance based deals. Similarly, the content won’t disappear unless it’s deleted, so the brand will have to keep paying long after the campaign has finished. All in all, it’s a bad deal for marketers.
Paying per subscriber is also a bad metric to negotiate price on. Subscribers do not see every piece of content. A YouTuber may have 200,000 subscribers but only 100,000 views and some of these views will be from none subscribers.
In general, the subscriber number doesn’t matter in influencer marketing, far more important is the average views and engagement rate of the influencer and these are the best starting points for your price negotiation.
Go back through the influencer’s past videos and come up with an estimate of how many views you expect your sponsored content to get.
Look at how the influencer interacts with the viewers. How are the viewers engaging with the content and the influencer? If there is a lot of interaction, you might have to raise your price slightly because you are likely to get a better click through rate.