Here's How to Create Your Successful Influencer Marketing Strategy in 4 Steps

1. Influencer Marketing Strategy as a guide
2. Starting point Influencer Marketing goals and target group
3. The 4 W's of the Influencer Marketing Strategy
4. Guarantee of success, or not?

What a development influencer marketing has undergone in recent years - from often scoffed underdog to an integral part of the marketing mix! The effectiveness and efficiency cannot be overlooked. According to a study by agof in 2021 approximately 25 million German Internet users regularly interacted with influencer content and around 11 million were motivated by influencers to make a product purchase.

Figures that once again highlight the potential of this discipline show that influencer marketing has many advantages. It begs the question, are there success factors in influencer marketing and is an influencer marketing strategy the answer to this question? We give you an overview and have the answer:

Influencer Marketing Strategy as a guide

An influencer marketing strategy sets the framework for all influencer marketing activities and gives a specific direction. Influencer marketing strategies, often prioritized, are a situational and/or competitive analysis. The situation analysis shows how influencer measures already implemented in the past have performed. The competitive analysis on the other hand analyzes how the direct and indirect competition uses influencers, and what learnings can be gained from it for your own strategy. Tools like Storyclash or EQOLOT can help you with the analysis.

The influencer marketing strategy can be created for individual (usually spanning several months) campaigns or also serve as a guide for the entire year. The scope is larger in the latter case, while it tends to be shorter for campaigns. If it is long-term oriented, it should also ensure a certain flexibility - against the background that influencer marketing and the individual social media platforms are subject to constant change.

Starting point Influencer Marketing goals and target group

With Influencer Marketing a wide range of goals can be pursued and these should be seen as the starting point for any influencer marketing activities: Do I want reach, interaction or should selected influencers ensure more sales or traffic? The set influencer marketing goal is essential for all further steps - it sets the course for the use of influencers. More on this later.

Example Traffic Campaign

Source: Instagram amelie_weissenberger

The set influencer marketing goal is always closely linked with the message and/or the product. A concrete example: With the help of high-reach German influencers buzz should be created for the gaming keyboard and the message 'Game on'. The goal should be kept as concrete as possible, as it helps in the later creative concept development and also in the success measurement. In the example mentioned above, the desired number of impressions could also be added. When defining the goal, always keep in mind that the budget should enable to achieve the goal.

In addition to the goal and the product/message, the target group should be seen as a starting point. This is usually derived from the company's marketing target group. Especially demographic characteristics (age and gender) as well as interest definitions (e.g. interest in gaming, gaming equipment) should be included, as they can help in the later influencer selection.

Once all these points are specified, you can start creating the influencer marketing strategy. It is important to mention at this point that the influencer marketing measures should always fit into the overall strategy of the company. This ensures targeted output.

Targeted output is also ensured by creating the influencer marketing strategy using the 4 W's, which we will now describe in more detail.

The 4 W's of the Influencer Marketing Strategy  

The individual four 'W's' at a glance:

Where: Where do I want to communicate?

Based on the influencer marketing goal and the target group, it needs to be decided on which channels the activities should take place. Particularly popular influencer marketing channels are Instagram, YouTube, TikTok and Twitch. Depending on the product and target group, channels like Snapchat, Twitter and/or Pinterest could also be highly relevant for your campaigns.

But not only the target group and the goal should be used for the evaluation. Criteria such as reach or interaction possibilities should also be taken into consideration. It can help you to create your own matrix for channel selection, which includes these points. Once the channels are defined, the associated KPIs are usually mentioned in the next step: impressions, reach, average views, interactions, CPM and CPI are among the industry standard metrics. Usually the final decision about the KPIs is made after the creative concept is created.

Goal, TG, Product/Message and Budget always form the basis

At this point it should be mentioned that the channel selection should always allow a certain flexibility - especially when the influencer marketing strategy is long-term. For example, the relevance of channels could increase if new storytelling formats are introduced. Another exception should be considered when influencers with a perfect brand and target group fit are found, but they are active on other channels. Here the rule is: Influencer before channel. Regular evaluation of the channel setup is recommended.

How: How do I use influencers and their trust?  

Influencers not only bring (incremental) reach, but also a high trust in their communities. This trust should be used for your own campaigns. There are various approaches available in the collaboration with influencers, which should be applied in conjunction with the influencer marketing goal. You do not have to rely on a single field of application, you can also use several of these fields simultaneously.

Fields of use of influencers

If the goal is to bring the previously mentioned gaming keyboard to the target group with as much buzz as possible, the use of influencers as content creators and/or testimonials can be recommended. The probably most commonly used influencer application is those of the content creator. Influencers create content that is exclusively published on the influencer channel and/or brand channel. Influencers are more and more often booked as content creators for the company's internal content pool. This content is not shared on the influencer channels, but can be freely used by the company and steered through its own social media tools or through the platform itself.

The use of influencers in the areas of testimonial and co-creator has also significantly increased. Both fields usually involve a long-term use of influencers. Both sides can benefit from the long-term commitment to a brand and it should always be strategically considered. Reasons for this are authenticity, incremental reach and predominantly also earned content (the publishing of additional, not booked and therefore free content). Especially when we think about the area of co-creation, influencers usually not only bring knowledge about the preferences of their community, but also exciting insights. These can help you with product or design development. A great potential for your company!

Example Co-Creation

Source: TikTok heyMoritz

What: What do I do in implementation?

Based on the influencer marketing goals, it needs to be decided which specific measures can be taken. For example, if you want to create awareness for the new gaming keyboard, a classic product staging could be just as worthwhile as an event where the product is shown. The product staging could then take place in the form of an unboxing, for example.

In addition to these two very classic approaches, a very community-focused approach has also emerged over the past year. The advantage is that the community deals more intensely with the product and the message through active integration. The approach can be implemented in various intensities - from surveys to handing over the decision to the community. An example of the latter would be that the influencer's community actively shapes the day.

Even (TikTok) challenges offer high interaction potential.

Example McDonald's McChicken Challenge

Source: TikTok totebabalola

In addition to deciding on the form of communication, it is also recommended to determine the frequency of the measures. Should a one-time activation, an always-on approach (i.e. regular content publication) or even a mix of both be focused? You should always make this decision in relation to the goal and the budget.

With whom: Who do I want to collaborate with?

As part of the influencer marketing strategy, it is also important to define with which influencers you want to work. To stick with our example: Company X with gaming keyboard targets young men aged 18-25 with high interest in technology, tech gadgets, gaming and entertainment. The question that now arises is, how can you ensure that the influencer's target group is identical to your company?

Influencer marketing tools, like CreatorIQ or IROIN® Influencer Marketing Suite, can help. The former allow a pre-selection based on quantitative data (such as age distribution or the country following) using various filter options.

On OMR Reviews you can find even more exciting software and get an overview of further influencer marketing tools.

When selecting, it is also important to define the size of the influencers. Depending on the goal and the previously defined strategy, it may be worthwhile to cooperate with a few selected macro influencers, who provide buzz and reach. Just as legitimate could be a seeding approach with many micro and mid-influencers.

Guarantee of success, or not?

The previously defined 4 W's can help you give a framework to your influencer marketing activities. The order is usually the same and ensures a goal-oriented output. However, the content of the strategy should be continuously evaluated for content and success. It must not be forgotten that influencer marketing per se is a very dynamic discipline that takes place on constantly changing channels. What works today on Instagram or TikTok may be outdated in a few months.

Is an influencer marketing strategy a guarantee of success? To pick up and answer the question asked at the beginning - yes and no. An influencer marketing strategy definitely sets the right course, but also the creative concept, the selected influencers and the final output are factors that can influence the final success. For this reason, it is important to carefully implement the strategy defined beforehand and to pay attention to high quality in execution. Then nothing stands in the way of your success.