Frequently asked questions about Influencer Marketing Strategy
Q: Is it worth paying Kim Kardashian West $500,000 for a single Instagram post?
A: Good question. In this course, we will take a close look one of Kim’s Instagram posts, which says, “#ad Excited to be partnering with @sugarbearhair to share their amazing hair vitamins with you! These chewable gummy vitamins are delicious and a favorite part of my hair care routine #sugarbearhair.” You will learn how to calculate the number of orders that Kim’s sponsored post needed to generate for SugarBearHair to get a positive return on marketing investment (ROMI).
Q: How do I identify the right influencers?
A: Identifying the right influencers is hard. In this course, I will show you how to use 3 different tools to discover the most relevant influencers for your campaign. Why so many? Because each one has different strengths and weaknesses. And a decade ago, I used a fourth tool, but the company that made it has been closed. So, I don’t want you to become too dependent on any one tool to find the right influencers.
Q: How do I find the right engagement tactics?
A: In this course, I will share several examples of influencer outreach best practices, which I call “schmooze optimization.” This is the process of making casual conversation with influential individuals who can help you to achieve measurable business goals. In 2012, Mark Huffman, the Integrated Production Manager at Procter & Gamble, said that his key takeaway from the conference where I coined the term was the concept of optimized schmoozing. And it’s worked for a wide variety of B2B, B2C, and nonprofit organizations – although I will share the story of one brand which is used to treat “jock itch” that my agency wasn’t able to help because we couldn’t find any key influencers who wanted to promote their content.
Q: How should I measure the performance of my programs?
A: It depends. Which marketing goals will your organization focus on over the next 12 months? This course will teach you how to measure the success of your programs with the appropriate key performance indicators (KPIs). If it’s brand awareness, then you will want to learn how to measure brand lift. If it’s engagement, then you will want to learn how to measure applause, conversation, and amplification rates. If it is lead generation, then you will want to learn how to track influencer campaigns in Google Analytics. And if it is being successful at tracking ROI, then you will want to learn how to calculate return on marketing investment (ROMI), which is different than ROI.