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How to run an efficient Influencer marketing campaign in 2023

According to recent research, it is expected that 90% of companies will use influencer marketing to promote their products or services. One survey found that 60% of consumers said that they had made a purchase based on a recommendation from an influencer. Hence, there is an increasing importance of influencer marketing as a way to reach and engage with consumers.

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Key Takeaways

  • The influencer marketing industry is valued at $16.4b in 2022, which is an 18,8% annual increase, according to Oberlo.
  • When launching an influencer marketing campaign, it’s important to set clear goals, define your target audience, choose the right influencer(s) and platforms, foster creativity, build long-term relationships, consider timing and amplifying the content, track performance and measure the ROI.
  • Additionally, it is important to stay up to date with the latest trends and best practices in the rapidly evolving industry of influencer marketing.

Without further ado, let’s dive into the updated tips and tricks on how to plan and run an efficient influencer marketing campaign in 2023.

10 Steps to Run an Efficient Influencer Marketing campaign

Running an effective influencer marketing (IM) campaign can help you reach new audiences and promote your brand in a way that feels authentic and trustworthy. However, launching an Influencer marketing campaign can be complex and time-consuming, so it’s important to have a clear plan in place – that’s certainly no news. Yet, these updated tips are the key to launching an effective Influencer marketing campaign in 2023:

1. Set clear goals: Before you begin planning your IM campaign, it’s important to have a clear understanding of what you hope to achieve. Are you looking to increase brand awareness, drive sales, or generate leads? Having a clear set of goals will help you stay focused and measure the success of your campaign.

2. Define your core target audience: Knowing your target audience is essential to any marketing campaign, and IM is no different. Consider the demographics of your target audience, as well as their interests and behavior. This will help you identify the right influencers to work with.

3. Define your budget: IM can be a cost-effective way to reach new audiences, but it’s still important to have a budget in place. This will help you plan your campaign and make informed decisions about which influencers to work with.

4. Assess the maturity of the influencer market: Influencer marketing is a rapidly evolving field, so it’s important to stay up-to-date on the latest trends and best practices. This will help you identify opportunities and avoid pitfalls. Check out the Kolsquare blog for regular updates on Influencer marketing!

5. Choose the right platforms and devices: Different social media platforms are better suited to different types of content and audiences. Identify the platforms and devices that your target audience is using, and select the influencers that are active on those platforms.

6. Choose the right influencer(s): Not all influencers are created equal. Look for influencers who have engaged and loyal followers, as well as content that aligns with your brand. Here some tips on how to find the right influencer for your next campaign!

7. Contact the influencer(s) and make a contract: Once you’ve identified the right influencer(s), reach out to them and propose a partnership. Make sure to have a clear agreement in place, outlining the terms and expectations of the collaboration. Also read: Tips and tricks to set up a contract with influencers!

8. Monitor and amplify the influencer content: while the campaign is running, make sure to amplify the influencer’s content by sharing on your own social media and website, also monitor their performance and engagement to optimize the campaign in real-time if necessary.

9. Track performance and results: Use tools to track the performance of your IM campaign, and measure metrics such as reach, engagement, and conversions.

1. Here’s how you can measure the performance of your influencer marketing campaign with Kolsquare!

2. Here’s which KPIs are important to use in order to be able to track your Influencer marketing campaign!

10. Measure ROI: Finally, measure the return on investment (ROI) of your IM campaign. Look at the cost of the campaign compared to the revenue generated and determine if it is worth the investment to do it again. With these steps, you can launch an effective IM campaign that helps you reach new audiences and promote your brand.

Avoid these mistakes when planning your influencer marketing campaign

While there is no way around influencer marketing in the future, there are also common mistakes to avoid in order to ensure the success of your campaign. Here are some errors to avoid when launching an IM campaign:

Focusing on one post: It’s easy to become fixated on the influencer’s initial post and neglect the ongoing relationship. While the initial post is important, it’s also essential to maintain a consistent and ongoing presence on the influencer’s social media platforms to keep the conversation going.

Underestimating the influencer’s rates: Some businesses may be tempted to lowball the influencer’s rates, but this can lead to dissatisfaction on the influencer’s part and ultimately harm the campaign. Instead, be realistic and respectful when discussing rates with influencers.

Having too short of a deadline: Setting unrealistic deadlines can put undue pressure on the influencer and lead to poor-quality content. Allow enough time for the influencer to create and deliver high-quality content that aligns with your brand.

Limiting the influencer’s creativity: While it’s important to provide guidelines, limiting the influencer’s creativity can lead to bland and uninspired content. Instead, allow the influencer to add their own voice and style to the content to make it more engaging.

Neglecting the day and time of posting: Timing is everything, and not considering the best day and time to post can lead to poor engagement. Review your audience behavior and the influencer’s audience engagement patterns and post at the most optimal time.

By keeping these errors in mind, you can avoid common mistakes and launch a successful IM campaign. Remember to focus on building a long-term relationship with the influencer, being respectful and realistic with the rates, giving enough time to create quality content, allowing room for creativity, and considering the best timing for posting. This way, you’ll be able to create an effective IM campaign that reaches new audiences and promotes your brand in the most beneficial way.

About Kolsquare

Kolsquare is Europe’s leading Influencer Marketing platform, a data-driven solution that allows brands to scale their KOL Marketing strategies and implement authentic partnerships with KOLs (Key Opinion Leaders). Kolsquare’s technology enables marketing professionals to easily identify the best Content Creators profiles by filtering their content and audience, and to build and manage their campaigns from A to Z, including measuring results and benchmarking performance against competitors. Kolsquare has built the largest community of influencer marketing experts in the world, and offers hundreds of customers (Coca-Cola, Netflix, Sony Music, Publicis, Sézane, Sephora, El Corte Inglés, Lacoste, …) the latest Big Data, AI and Machine Learning technologies to drive inspiring partnerships, tapping into an exhaustive network covering 100% of  KOLs with more than 5,000 followers in 180 countries on Instagram, TikTok, Twitter, Facebook and YouTube. As a Benefit Company, Kolsquare has been pioneering Responsible Influence by championing transparency, ethical practices, and meaningful collaborations to inspire change.

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