The Most Successful Strategy for Influencer Marketing: Test & Invest
Tue Oct 20 2015
How do you generate real returns through influencer marketing? What really works?
Here at AspireIQ we have almost 1,000 collaborations per month, so we've seen it all, both the good and the bad. What we've learned is that the best, most sustainable strategy for generating ROI requires a test and invest mentality.
Step 1: Experiment with at least 10-20 different influencers
At the end of the day, it's not always easy to know exactly which influencers are going to have the best bang-for-your-buck. You'll have a sense on what style, demographics and content work well, but you need to test a number of activations to figure out which creators really resonate with your product and brand and generate the best results.
Try out a variety of influencers in a few different categories. The results may surprise you!
Step 2: Measure the ROI
Once you've picked which influencers you want to try out, figure out ahead of time what metrics you want to measure for success. Are you looking for traffic to your website? Sales? New followers?
Each of these metrics will require different types of content and calls-to-action to give guidance to your influencer partnership. Click here for more info on how to drive performance with influencer content. Interested in tracking sales? Ask your account manager about using our free sales tracking tool.
Step 3: Re-invest behind your new Brand ambassadors
Once you've found your winners, don't stop there! Make sure you take care of them and treat them like your long-term brand ambassadors. Here are some ideas:
- Important => Ask if they want to do a series of collaborations
- Negotiate a package rate to lock in a longer-term deal (e.g. once per month for the next 6 months)
- Invite them to events as a guest host
- Run an Instagram takeover
- Customize a product line for them to promote. See example of Kylie Jennier's own Bellami Hair product line.
A great example is Your Tea, who has been doing this type of ambassadorship for years. Once they found Jaz Jackson and discovered she could generate 300% ROI on a new video, they leaped at the opportunity to work with her again:
Step 4: FIND THE NEXT GROUP!
Great! You've now got a fantastic group of ambassadors who are excited to promote your brand and already locked in for the next several months of collaborations. Additionally, you now know what kind of influencers work best to generate the best results for your brand.
Now go back to Step 1 and rinse and repeat: find that next group of ambassadors until you have an entire army promoting your products!