Influencer marketing is the newest trend in marketing techniques and by far the most effective among the lot. According to the latest survey, more than 85% of the surveyed marketers believe it has an ROI comparable to no other marketing technique. Additionally, 8 out of 10 rate influencer marketing as effective or very effective.
It is the using of an influencer, who is a powerful user on social media to promote a particular brand, product or service. The influencers on social media have an engaged list of followers who regularly view and react to their content. The said product or service can be placed in their content in a positive frame for the viewers to transform into potential buyers and further into repeat customers.
New York is the seat of small and large businesses of a variety of industry types and presents a plethora of opportunities. Though it is a large market all the business do not have the resources or the skilled manpower to conduct an influencer marketing campaign in-house. This is where an influencer marketing agency plays its part.
Influencer marketing is not a sure bet. It requires the right business and influencer collaboration, the right relationships and in-depth knowledge of the social media landscape. Though influencer marketing is effective it needs to be done correctly to yield the expected ROI.
When it comes to choosing your influencer marketing agency always consider the following,
Knowledge of the recent channel trends
From another survey, it was revealed that about 69% of marketers intended to spend their money on Instagram and about 11% on YouTube when it came to influencer marketing campaign budgets. These two platforms were considered to be the most effective when it came to influencer marketing.
There is a factor for finding your target audience in a particular platform it is also a fact that many agencies are still bent on the fact that yesterday’s best channel is still the best one. They prefer looking at totals of performance which mostly takes history into account than recent and current trends with the top-performing influencers and platforms.
Some agencies even do not prefer venturing beyond their comfort zones and preferred platforms because they would need to shift and change a lot of things including relationships. When on the lookout search for a firm that focuses on present and current, rather than totals and history as what has worked in the past might not work now.
Competency across platforms
Rarely an influencer marketing agency is good at all industry and campaign types but an agency with the required skill-set and expertise should be able to undertake a campaign across platforms. It is a rare case where existing or potential customers of one brand are present on only one social media platform. Another survey revealed about 73% of U.S adults use YouTube, 68% use Facebook, and 35% are active on Instagram. Other smaller social media sites claim to hold between 22-30% of American users.
While shortlisting an agency you need to research well for this indicator. Does the agency only have top influencer’s contents on leading platforms or do they have work on other smaller channels as well? Check their trend awareness and ask them if they can conduct campaigns on smaller sites like TikTok or even Anchor and Twitch.
Experience with clients
An agencies relationship and experience with its other clients is also a factor to consider. Influencer marketing is still growing but with its exceeding demand and limited supply of proper agencies, brands are handling about 70% of the tasks in-house.
So, if an agency is able to show you a long list of names means it has collaborated with a large number of businesses again a shortlist with multiple campaigns against their names it will tell you that they don’t have a large number of clients but some that they have retained successfully.
The agency might not want to share its client details with you. In that case, ask for anonymous details. This will tell you if the influencer communication, content and campaign analysis is up to the accepted standards and if it will meet your needs.
An agency can fully rely on influencers for the content but it is worthwhile to check if they have a content strategy. When you look at their partnered content you will know if they are updated regularly, if they demonstrate expertise in the industry, and if they are actionable and entertaining in their advice.
Also, look for engagement and consistency in the channels of the agencies on different platforms. See if they display an established following with professional and helpful content or if they are self-serving in nature.
Variety of influencers
The best agencies will have a variety of influencers with working relationships or tie-ups. Even if they have limited industry expertise they should be able to provide different types from celebrities to micro-influencers. Check if they have the influencers who are perfectly aligned with their brands in not only the areas of interest but also their personality and values.
Influencer marketing is young and dynamic. When you are looking for an influencer marketing agency treat it like due diligence as you would for any other business partner. Its ethics, ideals and business values should match yours and see your business grow with one effective move.