Internet marketing is always about investing time and money. If you can’t afford to spend money on your campaigns, you must be willing to invest time and energy to achieve the same desired results. This is the beauty of internet marketing; anyone can have a successful campaign regardless of budget or marketing spending.
The same principle can be applied to influencer marketing, one of the latest – and most effective – internet marketing instruments out there. You can have a successful influencer marketing campaign and keep the budget at a minimum with these next few tips we are about to discuss in this article.
Free Analytic Tools
One of the reasons why influencer marketing is so popular is its clear ROI or Return on Investment. Anyone can set key performance indicators for their campaigns and check if the influencers involved in the campaign meet their designated KPIs. This type of control and analytics also brings a lot of insight that can help improve future campaigns.
One of the easiest ways to save money on your influencer marketing campaign is to use free analytic tools to track KPIs as the campaign progresses. There is no need to invest in expensive analytic tools and web services. Most social networks now have built-in analytics for influencers to use. You can ask each influencer to provide a report at the end of the campaign based in these tools.
Other free tools such as Simply Measured and even Google Analytics are yours to use. They are just as capable – although with some limitations – and can really help you measure impacts of the campaign effectively.
Work with a Digital Agency
This next tip may seem counter-intuitive at first, but it is actually a good way to save money. Working with a digital marketing agency can help reduce the cost of running an influencer marketing campaign by up to 40%. At the same time, the campaign itself will be more effective thanks to the experts helping you every step of the way.
So how can working with digital agencies and influencer networks help you save on influencer marketing? For starters, you will get the best price almost immediately. There is no need to negotiate or build a long-term relationship just to get a good deal on paid posts and endorsement.
On top of that, digital agencies can help choose the right influencers to work with based on the budget you have in hand. You’ll also be saving a lot of time in the process. Speaking of choosing influencers….
Don’t Just Work with the Top Influencers
Top influencers can get your message to more people faster, but they are not always the best ones to work with. You can actually reach more people and have a bigger impact on the audience by working with several aspiring bloggers and influencers as part of the campaign. Again, this is another beauty of influencer marketing; there is a campaign for everyone. As long as you know which audience to reach and the best influencers to use, you’ll be able to convey key messages effectively.