Sell like a PRO with Influencer Marketing
Influencer Marketing is where you tie up with an influencer, and they promote your products or services to their followers. Many startups are enjoying huge success with Influence marketing, owing to the fact that you can reach out to your targeted audience and comparatively at a very low price.
But there have been failed influencer Marketing Campaigns too and the number one factor is the selection of the Influencer. Selecting the right Influencer is the most critical part of the campaign but mostly underlooked by Entrepreneurs and Marketers. To select the right Influencers for your campaign, you need to look at the following metrics in the following order of priority.
First, check if the Influencer has a similar niche as your business Look at the Engagement Rate of the Influencer number of followers of an Influencer Finding the Engagement rate and finding Influencers to compare is a task. Let me help you make it easy. We are going to use two simple tools.
Step 1: Go to www.influence.co and search your product niche. You will have a list of Influencers.
Step 2: Now at the top of the page, filter the list using Location and the minimum and maximum followers count. Remember to pick an ideal min and max no of followers. More followers, the lesser the engagement but more the cost. And cost-wise, in Influencer Marketing, 1 + 1 is mostly greater than 2. Add the Influencers recommended by the tool in your list of Influencers.
Step 3: Now you will have a list of Influencers according to your niche and min-max followers, it’s time to check the most important metric i.e. Engagement rate.
Step 4: Go to www.phlanx.com and look for the Engagement calculator for your specific social media platform. Ex. ‘Instagram Engagement Calculator’
Step 5: Check the engagement rate of all the Influencers from the list and choose the one with high engagement. Look for at least 3% as the engagement rate.
You can also follow specific Influencers and relevant tags in your domain to find out good Influencers. Engagement rate is the ratio of the total number of likes, comments, shares to the total followers. In simple terms, it is a measure of how engaged are the followers of an Influencer. I personally only look at the Engagement rate and do not worry about the number of followers at all. You shouldn’t either.