By cmcginley@hubspot.com (Corinne McGinley)

If you’re a marketer looking to reach new audiences, partnering with influencers can be a great way to do that.

Influencer marketing is an incredibly effective strategy. Nearly 3.96 million of the world’s population is using social media, and researchers say that number might reach 4.41 million by 2025.

As a result, influencer marketing has naturally become one of the most popular marketing methods. As target markets become younger and more digitally connected, influencers can help organizations connect with consumers where they are – online.

By building influencer relationships, brands can leverage an influencer’s reach to achieve their marketing goals.

But if you’re considering hiring an influencer for your brand, where do you even begin? It can be tricky to narrow down your goals, what type of influencer you want, and what goals you hope to meet with an influencer strategy.

To help you narrow your search and ensure your influencer marketing strategy is as effective as possible, we’ve created a template and guidelines to help get you started.

Follow Along With Our Free Influencer Guide + Templates

Influencer Collaboration

Influencer collaboration is a marketing strategy that involves paying individuals with a large social media following to advertise your brand to their followers. The influencer can demand compensation in monetary value or complimentary products and services in exchange for their recommendation.

According to Influencer Marketing Hub, 90% of marketers will allocate a budget to influencer marketing, with 62% increasing their existing budget. The same study also cites that most brands that have worked with influencers are pleased with their results based on conversion rates and sales they received as part of the collaboration.

The good news is even companies that hired micro-influencers (that is, influencers with 15K followers and fewer) still got impressive results.

According to Convince and Convert, the top 13% of marketers are getting great returns from influencer collaboration regarding quantifiable results.

In fact, for every $1 spent on influencer marketing, they’re getting $20 or more. This explains why marketers are increasing their influencer marketing budgets.

Here are six steps to help you create and implement an influencer marketing strategy:

1. Define your goals.

By clearly defining the end goal of your strategy, you can work your way backward to determine the steps needed to get there. Using your goals as guiding lights will also define your strategy’s metrics for success. These will help keep your campaign on track.

Are you trying to increase brand awareness or drive engagement? Do you want to spruce up your lead generation method, or do you want to build on the loyalty and goodwill of your existing audience?

Dunkin Donuts is an excellent example of how defining your goals can influence your results. They hired Charli D’amelio to advertise their products to increase their app downloads.

After her video went viral, they launched a drink named after her, “The Charli,” …read more

Source:: HubSpot Blog

Author: Aaron