Influencer marketing is here to stay:
- According to Emarketer, up to 48% of marketers use inﬂuencer marketing
- An average of 10% of total media budget goes toward influencer marketing
- Inﬂuencer marketing spend is expected to increase to 5 to 7 billion dollars in 2020
But creating, executing, and measuring an influencer marketing strategy can be a ton of work — especially for smaller teams or businesses. If you find yourself scrambling to keep up with influencer marketing (or aren’t sure where to even start), working with an agency can help take the nitty-gritty of influencer marketing off your plate.
One thing to note is the shift in social media culture and engagement – specifically for advertisers. Instagram recently rolled out a new feature that allows influencers and brands to directly link products pictured in the posts.
“We’re starting to see the shift for click-through commerce. We can now gauge whether or not an influencer is really making a sale and whether they’re contributing to the bottom dollar. Brands are going to move away from the vanity metrics of likes and follower count,” Amar Braithwaite, SVP Head of Social Media at Tinuiti said in a recent interview with Business Insider [India].
Here are five reasons to hire an agency to manage your influencer marketing tactics:
- Save time
- Leverage their expertise and relationships
- Find the right platforms
- Access to consistent reporting (on more than just likes)
- Amplify the right content
1. Save time
Done in-house, influencer marketing takes a lot of time and resources. The influencer marketing process usually involves:
- Tracking down, reaching out to, and vetting influencers
- Negotiating payment
- Paying influencers and sending them the product
- Coordinating content
- Tracking posts through affiliate codes and links
- Measuring post engagement to determine ROI
If you have the resources and time to build out an influencer marketing team, you may be able to scale your influencer marketing strategy internally — but most companies don’t have that option.
Working with an agency can be a more cost-effective, less time-consuming way to build and execute your influencer marketing strategy. An experienced agency can vet influencers for you, help you set and measure goals, and do the hands-on work of building a campaign and working with each influencer. An agency provides ongoing campaign support and takes a lot of the guesswork out of the influencer marketing process.
2. Leverage their expertise and relationships
Influencer marketing agencies eat, sleep, and breathe influencer marketing 24/7. Social media evolves more quickly than any other platform; you can rely on your agency to stay on top of algorithm changes and new social media tools, so you don’t have to.
Working with an agency also smooths out the learning curve when it comes to influencer marketing. Agencies (like Tinuiti!) have vetted influencer partners and platforms that help them recommend the best influencer partners to work with their clients. Partnering with the right influencers helps you reach the right audience and reach micro-influencer economies of scale — without having to vet hundreds of influencers yourself.
3. Find the right platforms
Agencies know which audiences respond to which types of influencers, campaigns, and social media channels. An agency can help you bring your campaigns to life by pairing the right creative with the right campaigns — and posting on the right platforms. For example, you wouldn’t want to use TikTok to market to a middle-aged, childfree audience. (If you wanted to sell to a Gen Z audience, on the other hand, TikTok might be your best bet.)
The goal of influencer marketing is to organically get your product and brand in front of your target audience; to do that, you need to show up on the platforms where they spend the most time.
4. Access consistent reporting (on more than just likes)
An experienced influencer marketing agency knows what makes an influencer marketing campaign successful. An agency can monitor each post and share reporting with you, so you don’t have to refresh the ‘like’ count on every post over and over. Most importantly, they can offer expert insight into how effective each campaign is toward reaching your business goals.
Tinuiti approaches influencer marketing as a full-funnel tactic, which means that influencer posts can drive metrics at every stage of the customer journey.
We evaluate engagement through comments, likes, and impressions — as well as the quality of the content and how well it represents the product. This helps make sure the content aligns with your brand. Based on this evaluation, Tinuiti chooses which posts to amplify.
5. Amplify the right content to turn engagement into revenue
Amplification drives more engagement — and turns engagement into revenue.
Here’s how Tinuiti amplifies content for our influencer marketing clients:
- Identify top-performing organic posts and inﬂuencers
- Reach out to let inﬂuencers know they’ve been selected as a top performer and we plan to boost their organic post
- Boost the top-performing posts using the inﬂuencer’s handle. To do this, we connect the inﬂuencers’ post with the best-performing audiences within a brand’s ad account. Then, we create custom and lookalike audiences from the influencer’s most engaged followers. Finally, we add a CTA button and update the copy on the post as needed.
- Based on the results, we test, iterate, and measure the impact of each campaign on a client’s bottom line
While each agency has its own process for amplifying top-performing content, the goal is always to turn those impressions and engagements into revenue. Working with an agency can help increase your ROI for influencer marketing — and see results faster.
Learn more about how Tinuiti helps brands turn influencer posts into revenue in this post.