While influencer marketing has historically always had its challenges, COVID-19 has raised even more issues for the industry. However, when done properly, campaigns can perform well as we're seeing record efficiencies for those campaigns we've modified and continued to run. As a result of these programs, we've compiled five influencer marketing best practices we recommend you follow if you choose to move forward with your campaigns during this crisis. Feel free to watch the video below or read this entire post for more detail on these best practices.
Influencer ambassador strategies have continually proven to be effective at driving ROI for brands, so now is the time to take advantage of those relationships. Because these ambassadors have continually supported your brand and products over a long period of time, it won't feel forced or inauthentic for them to continue to talk about your products now. Authenticity is key during this sensitive time, so having an ambassador approach the content and messaging in a new way that you wouldn't traditionally approve of because it's more relatable right now is definitely the course to take.
No ambassadors? No worries! If you've at least run one influencer campaign before, revisit that list of influencers for opportunities. Even better, if you have the ability to evaluate the performance of your influencers and can identify those who have helped you drive better results, prioritize those partnerships. We use our iStack ranking system to analyze the content quality, engagement rate, share rate, and influencer efficiency of each influencer in every program we run. This opens the door for ambassador relationships that we cultivate for our clients.
Right now, running a full-fledged influencer marketing program may not be a priority, so don't force it! There are other ways to take advantage of influencer relationships, like leveraging their content creation capabilities. A recent survey from last month unveiled a 33% increase in brands looking to hire influencers to create their photo and video assets. This makes sense, as most influencers have everything they need to continue their business from the comfort of their homes. Don't waste resources and money when you don't need to, especially during an economic crisis.
Additionally, you may not need to seek out new content assets from influencers at all. Take some time to look back at old campaign content and see if there are any assets you can repurpose. Like we recommended with influencers, try to evaluate the worth of each asset by comparing performance against other pieces and using those top-performing assets. While this may take a little time upfront, it's going to be very cost effective in the long run.
While paid media might not always be a part of your influencer marketing strategy, now is the time to invest. We're seeing record efficiencies in terms of decreased CPMs, CPCs, and CPLPVs (cost per landing page view) for campaigns we're running right now, but we predict that this won't last forever. As we start to roll "back to normal", media costs are likely to return and possibly inflate as marketers resume paid advertising.
WATCHOUT: Try to avoid hitting the "boost" button on Facebook, and more importantly, don't amplify every piece of content. As we recommended above, work to identify which assets perform well organically and allocate your budget accordingly.