How to Boost Your Social Media ROI with Influencer Marketing
Brands flock to social media channels to build relationships with their audiences. In addition to offering massive reach, social media is a cost-effective marketing channel. What if you could further leverage this marketing channel and boost your ROI while getting ahead of your competitors?
The Social Marketer’s Guide to Social Media ROI
The best way to do that is by integrating your social media marketing with other effective marketing tactics, such as influencer marketing. Recently, influencer marketing has been making waves in the marketing industry due to its ability to generate a huge ROI.
On average, marketers who implemented an Influencer Marketing program in 2014 received $6.85 in earned media value for every $1.00 of paid media, according to a Bust Media report.
Influencer marketing can help brands build trust, authenticity, and awareness. It can serve as rocket fuel for your next social media marketing campaign. Take a look at some of these ideas to help you boost your social media ROI using influencer marketing.
Build Brand Awareness With Unique Hashtags
You have seen (and probably used) the #TBT hashtag on social media. But do you know how the hashtag originated? It began with a blog called NiceKicks.com, which is dedicated to sneakers. Since the blog began posting pictures of old basketball footwear back in 2006 in a series called “Throwback Thursday,” the hashtag #TBT has been used 193 million times and #throwbackthursday has been used more than 30 million times on Instagram alone.
A photo posted by Nice Kicks (@nicekicks) on
You can see how a simple phrase can turn into something much bigger. Try to use this to your advantage: come up with a unique hashtag relevant to your brand and/or product. You can then promote this hashtag through influencers, who will encourage their fans to use the hashtag and help raise awareness about your brand.
Nikon used influencer marketing to promote their cameras using the hashtag #NikonWarnerSound. They presented select photographers with Nikon cameras at the Warner Sound Festival, and encouraged the influencers to share pictures of their experiences at the event with their followers on social media.
There were more than 15,000 social media posts featuring the hashtag #NikonWarnerSound. With the help of this campaign, Nikon managed to generate more than 166 million social media impressions.
Increase Conversions with Discount Codes
In many cases, an influencer talking about your product and reviewing it will be enough to convince people that they should buy the product.
— Jess Estrada (@JessEstrada) October 4, 2016
But there may be times when you need to give your audience an extra push so that they feel compelled to buy. To further leverage your social media ROI, you can come up with a special discount code or limited-time offer and promote it through influencers.
Listen up!!! I have a treat for you: Today- Friday my course on @mindbodygreen (28 Days To Yoga Bliss: The Fundamentals, Poses, And Breathwork You Need To Know) is being offered for less than half off at only $30!!! _ Use promo code "FALLRESET" and enjoy 💗 Link in bio. _ Photo // @thephotoyogi_ Wearing // @aloyoga
A photo posted by Caley Alyssa (@caleyalyssa) on
This is especially important in the case of newly-launched products. An influencer backing up your claim may be enough to help you win over the trust of your target audience, but giving a little extra encouragement always helps. Nicole Vienna Watches, for instance, partners with multiple fashion and lifestyle influencers.
A photo posted by Bianca (@deblancaconamor) on
Some influencers promote a unique discount code for the watches, encouraging their followers to get a Nicole Vienna watch of their own–this type of marketing allows the brand to learn which influencers most effectively convert their followers to customers.
Boost Engagement with Contests
Give people a reason to engage with your brand by hosting a contest on social media. You can further increase your engagement by promoting the contest through influencers.
An excellent example of this is the #MyNeoShoot campaign launched by Adidas to promote its new Neo collection. They kick-started the campaign with a contest promoted by Selena Gomez.
The contest required participants to submit their photos using the #MyNeoShoot hashtag so they could win a chance to be one of the models for the campaign. Because she is a high-profile celebrity, Gomez helped the brand reach a massive audience and encouraged fans to participate in the contest.
A photo posted by Daniela Calle (@danielacalle96) on
For the #MyNeoShoot contest, Adidas saw close to 12,000 entries overall, in addition to generating more than 71,000 social media mentions for the hashtag. With the help of the campaign, their new Instagram account also managed to gain 41,000 new followers.
Win Trust and Loyalty
Consumers are more likely to trust and switch to a brand that supports a cause. Whether it’s a social cause or an environmental cause, show your audience that you stand up for something good, like Starbucks has begun to do with its Upstanders video series recently.
Teaming up for the cause with an influencer is an even better solution, as you’ll be showcasing your socially responsible side to a larger audience. Influencers also help you get your message across in a more trustworthy and friendly manner.
Ahhhhhh can't wait to snuggle with this pup again so sooooon! 💕🐶 aaaaand workout & be a part of something incredible! – Go to www.11thwarrior.com right now to get your tix & come work out with me & 30 other Games athletes! 😜👉🏼 November 12th 2016, Tampa FL. – ALL profits of sales go to @companionsforheroes – Helping the nation's veterans AND shelter dogs at the same time through CrossFit 💥❤💪🏼
A photo posted by Katrín Tanja Davíðsdóttir (@katrintanja) on
Take Boxed Water, for instance, which stands firm for environmental conservation. With the help of influencers, the brand promoted its Retree project, where they plant two trees for every Instagram post with the #Retree hashtag. Top celebrities like Alyssa Milano promoted the hashtag, informing fans about the project and encouraging them to share their own photos with the hashtag.
A photo posted by Alyssa Milano (@milano_alyssa) on
The project is in partnership with the National Forest Foundation and aims to plant a million trees by 2020. As of now, Boxed Water has planted more than 400,000 trees with the help of this project.
Social Network Stat Sheets: What You Need to Know
You now have a clear idea how you can boost your ROI on social media with the help of influencers. Whether it’s by building brand awareness, boosting conversions, increasing engagement, or earning the loyalty of your audience, influencer marketing has been proven effective for improving all aspects of your social media marketing campaign. Remember to work with the right influencers and plan your campaigns with your audience in mind.
Have any ideas or insights you would like to share? Maybe you have some questions or doubts about some of the ideas mentioned above? Feel free to leave your comments below.
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Shane Barker is a digital marketing consultant. He specializes in sales funnels, targeted traffic, and website conversions. He has consulted with Fortune 500 companies, influencers with digital products, and a number of A-List celebrities.