5 Reasons You Should Outsource Your Influencer Marketing
The surge in influencer marketing means brands will spend an estimated $4.62 billion per year on influencer-related marketing campaigns in 2023. If you run a product or service-based business and are NOT engaging in influencer marketing, what’s the hold up? Is your concern money, time, trust?
With the rise of micro-influencers, it’s important to start by noting that influencer marketing is accessible to all brands, not just brands with big budgets – you simply need to create an influencer program that’s right for your business.
Here’s 5 reasons you should outsource your influencer marketing in 2023:
As a rule of thumb, if you’re unsure how much money to allocate to influencer marketing, set your budget at 10% of all planned marketing spend for that year. With this in mind, it’s important to speak to external experts in this field for recommendations on how to maximise the ROI.
While you may be tempted to work with a mega influencer like Kim Kardashian, spending your allocated yearly budget may not be the best approach. Often, it’s best to invest in talent across different channels, formats, and locations. This is helpful to gather data on the best performing customer funnels.
Sourcing and vetting the right talent for the specific campaign can take significant hours, so too can negotiations and liaison with managers. It’s important to remember agencies do this as a full-time job, so expecting you can successfully allocate the hours required, while keeping up the rest of your daily tasks, is unrealistic for most.
Whether you work on a commission basis or a retainer contract, hiring an influencer management agency to handle the process end to end can save significant time.
Particularly in the early years of business, it can be overwhelming to relinquish control to an external player and rely on them to create content that truly reflects the brand ethics, values and messaging. What agencies are great at is building trust – both with brands and influencers.
One way they do this is by creating campaigns briefs and contracts – all which are reviewed and approved by the client. A brief generally covers campaign objectives, creative direction, key messages and other brand guidelines; while a contract will include approval process, usage rights, payment terms and exclusivity etc.
Agencies notoriously have connections in the media and influencer industry and can often find contacts for those hard-to-reach managers. In addition, they leverage their existing relationships and reputation to garner better deals. Whether it’s a reduced rate, or additional content, the world of public relations (in which influencer marketing is now integral to) relies on these relationships.
Above all, it’s important to understand the landscape of the industry. Influencer marketing is a long game. On average, it takes consumers up to 8 exposures to a brand before they make a purchase.
Did you know we have a sister influencer agency with a growing database of all kinds of influencers? If you’re after some guidance for influencer marketing, let us assist you – contact us at email@example.com