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Feb 07 2023
There are a few different models that businesses use when working with influencers. For brands wanting to run large-scale influencer programs, some agencies specialize in working with them.
The easiest form of influencer marketing is a quick and simple exchange. Typically, the influencer creates a post (or several) for a set fee or free product. Most influencers charge a fee or require a high-value free product.
The advantage of this approach is that it is relatively easy to execute, and the results are clear.
The disadvantage is that the influencer is not committed to your brand or business and may just as easily sell their next post to your competitor. Additionally, if influencers don’t love your products, their posts may come across as less authentic and not achieve the desired results.
Rather than doing a set exchange, some businesses will create exclusive events or experiences for influencers. Many local businesses now do this when they have a new opening or product launch.
For example, a new grocery store invited bloggers to a VIP food tasting with a local chef to build excitement for their grand opening.
The goal of events like this when working with influencers is to build relationships and get them passionate and excited about your products. These events can be very effective, but they may also be expensive to execute and difficult to maintain momentum after the initial event.
One approach to influencer marketing that aims to build long-term loyalty is to find ways to activate or incentivize people who are already fans of your product or service.
The most effective but difficult form of influencer marketing is to create long-term relationships with a handful of relevant influencers.
This typically involves finding people who have similar values and are passionate about your product area, and ideally your product, then working with them collaboratively over a set period.
Walmart pioneered this type of program with their 11 Moms group. They worked hand-in-hand with a small group of influencers they promoted, sponsored to attend events, and connected with other opportunities. In return, the influencers promoted Walmart and shared specials and products they loved from the stores.
These formal long-term relationships can be difficult to execute, but they often have the best payout in the long run. Brands are establishing loyal influencers who love them instead of simply a transactional relationship.
No matter what form of influencer marketing you chose to try, remember it is a process. It is not as easy as hiring someone and saying go. Remember, to find the best fit for you and your business and then align with your goals.
If you are looking to increase your knowledge of Influencer Marketing, check out our course today.
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