Influencer Marketing Strategy: Do THIS To Grow Your Business in 2024

Summary

This video script offers a detailed guide on crafting an influencer marketing strategy, using Jamal's Cookies as a case study. It highlights the potential for high ROI in influencer marketing and emphasizes the importance of selecting influencers with a genuine connection to the brand. The script provides practical steps for influencer research, outreach, contract agreements, and campaign measurement. It also discusses common mistakes to avoid and features a successful Dunkin' campaign with TikTok star Charli D'Amelio. The video concludes by encouraging viewers to download HubSpot's free influencer marketing kit for further insights.

Takeaways

• 💰 Influencer marketing can yield a significant return on investment, with $1 spent potentially generating up to $20 in profit.
• 🍪 The speaker is creating an influencer marketing strategy for Jamal's Cookies, aiming to highlight their deliciousness and affordability.
• 👵 The speaker identifies Barbara Costello, a food influencer known as 'brunch with Babs', as a potential partner for the campaign.
• 📈 Engagement rate is crucial when selecting influencers, and different influencer tiers (mega, macro, micro, nano) have varying rates that can impact ROI.
• 🔍 It's important to research influencers at all levels to find the best fit for a brand, considering factors like audience interest and demographic match.
• 📝 When reaching out to influencers, clarity on goals, visual examples of desired campaigns, and simplicity in presenting data are essential.
• 🤝 Allowing influencers creative freedom within a well-defined brief tends to result in more authentic and engaging content for their audience.
• 📑 Contracts are vital in influencer partnerships, ensuring clear terms, responsibilities, compensation, content rights, and duration of the agreement.
• 📊 Post-campaign, tracking metrics like impressions, engagements, and website visits helps measure the success and ROI of the influencer marketing strategy.
• 📈 Dunkin' and Charli D'Amelio's successful influencer campaign led to a 57% increase in app downloads, demonstrating the power of strategic partnerships.
• 📚 HubSpot offers a free influencer marketing kit and ebook to guide businesses through the process of planning and executing successful influencer campaigns.

Q & A

What is the potential return on investment for influencer marketing according to the video?

The video states that for every $1 spent on influencer marketing, up to $20 of profit can be generated, indicating a 20x return on investment.

What is Jamal's Cookies and why is it mentioned in the video?

Jamal's Cookies is the business that the speaker is using as an example to demonstrate how to create an influencer marketing strategy.

Who is Barbara Costello and why is she considered for influencer marketing in the video?

Barbara Costello, also known as 'brunch with Babs,' is an influencer in the food space who is considered because she posts organic ads that resonate with her audience, making her a good fit for promoting Jamal's Cookies.

What is the significance of engagement rate in selecting an influencer?

Engagement rate is crucial as it indicates how well an influencer's content resonates with their audience. Influencers with higher engagement rates, even if they have fewer followers, can provide a better return on investment.

What is the term 'mega influencer' and how does it relate to engagement rates?

A 'mega influencer' is an account with over 1 million followers. The video mentions that mega influencers may have good but average engagement rates compared to macro, micro, and nano influencers, who might have smaller but more engaged audiences.

What is Alix Carey's Instagram handle and why is she considered in the video?

Alix Carey's Instagram handle is 'my kitchen drawer.' She is considered as a potential micro influencer for Jamal's Cookies due to her possibly more affordable rates and the potential for higher engagement despite a lower follower count.

What are some factors to consider when choosing an influencer for a campaign?

Factors include matching the product with the influencer's audience interests, the influencer's reach and location aligning with the target audience, demographic compatibility with the buyer persona, and the influencer's overall likability and reputation.

What are some tips for reaching out to influencers when starting an influencer marketing campaign?

Tips include stating your goals clearly, showing visual examples of other campaigns, keeping numbers simple, being clear on responsibilities, and allowing the influencer creative freedom while providing a brief on goals and intentions.

What should be included in an influencer marketing agreement?

An agreement should cover the extent of the partnership, method of compensation, type and amount of content, promotional requirements, approval process, content copyright, and sunset clauses specifying how long the sponsored content should stay live.

How can a business track and measure the success of an influencer marketing campaign?

A business can track and measure success by monitoring total impressions, engagements, clicks, and visits to their website as a result of the influencer's content. This data helps determine the return on investment and the value derived from different types of influencers and content.

What is the Dunkin' and Charli D'Amelio influencer campaign mentioned in the video, and what was its outcome?

The campaign involved Dunkin' creating a drink called 'The Charli,' inspired by Charli D'Amelio's usual order. Charli promoted it on TikTok, which led to a 57% increase in downloads of the Dunkin' app, achieving Dunkin's goal of increasing app installs.

What are some common mistakes to avoid when partnering with influencers according to the video?

Mistakes to avoid include forcing a product on an influencer whose audience isn't interested, prioritizing the number of followers over engagement, not defining clear goals and KPIs, not providing a well-thought-out brief, and not allowing influencers creative freedom within defined expectations.

What is the final recommendation for businesses interested in influencer marketing?

The video recommends downloading HubSpot's free influencer marketing kit, which includes templates used in the video and an ebook with comprehensive guidance on running a successful influencer campaign.

Outlines

00:00

🍪 Crafting an Influencer Marketing Strategy for Jamal's Cookies

This paragraph introduces the concept of influencer marketing and its potential high return on investment (ROI), with a 20x return being highlighted. The speaker shares their experience in developing an influencer marketing strategy for their business, Jamal's Cookies. They discuss the process of selecting an influencer, starting with identifying Barbara Costello, known as 'brunch with Babs,' as a potential partner due to her organic posting style and relevance to the food industry. The importance of using an engagement rate calculator is emphasized to assess an influencer's impact, and the potential benefits of working with micro and nano influencers over mega influencers are explored. The paragraph also covers the considerations to keep in mind when choosing an influencer, such as audience interest, geographic reach, demographic fit, and the influencer's overall likability and reputation. Outreach strategies, including the use of mutual contacts and professional honesty, are also discussed, along with the importance of clarity in communication and avoiding micromanagement to maintain content authenticity.

05:02

🤝 Best Practices and Common Mistakes in Influencer Marketing

The second paragraph delves into best practices for partnering with influencers, emphasizing the importance of aligning with influencers who support the brand's message and values. It stresses the necessity of thorough research and the use of contracts to formalize agreements. The speaker advises on the mutual benefits of partnerships, such as cross-posting opportunities, and the significance of authentic interaction with the influencer's content. Common mistakes in influencer marketing are outlined, including forcing products on influencers, prioritizing follower count over engagement, not defining clear goals, not providing a detailed brief, and not allowing influencers creative freedom. The paragraph also presents a successful influencer campaign case study involving Dunkin' and Charli D'Amelio, highlighting the significant increase in app downloads as a result of the partnership. The speaker concludes by encouraging businesses to embrace influencer marketing and to utilize HubSpot's free marketing kit for guidance.

10:03

📊 HubSpot CRM Platform Overview

The final paragraph provides a brief overview of HubSpot as a CRM platform that facilitates data sharing across applications, ensuring alignment among teams and eliminating issues with out-of-sync spreadsheets or databases. It positions HubSpot as a solution for businesses looking to grow effectively by streamlining their data management and collaboration processes.

Keywords

💡Influencer Marketing

Influencer marketing is a strategy where brands collaborate with individuals who have a significant following on social media to promote their products or services. In the video, it is highlighted as a highly effective marketing tool, with the potential to generate up to $20 in profit for every $1 spent. The video's theme revolves around creating an influencer marketing strategy for 'Jamal's Cookies', demonstrating its importance in modern marketing practices.

💡Return on Investment (ROI)

Return on Investment (ROI) is a financial metric used to measure the returns generated from an investment. In the context of the video, it refers to the potential profit generated from spending on influencer marketing. The script emphasizes a 20x ROI, indicating the high profitability of influencer marketing when done correctly.

💡Engagement Rate

Engagement rate in social media refers to the level of interaction a post receives from an influencer's audience, such as likes, comments, and shares. The video explains that while mega influencers have a large reach, micro and nano influencers might have higher engagement rates due to their smaller but highly engaged audiences, which is a critical factor in selecting the right influencer for a campaign.

💡Mega Influencer

A mega influencer is a social media personality with a follower count of over one million. In the script, Barbara Costello, also known as 'brunch with Babs', is mentioned as an example of a mega influencer. The video discusses the pros and cons of working with mega influencers, noting that their reach usually equals the rates they charge, which might not always be cost-effective for smaller businesses.

💡Micro Influencer

A micro influencer is an individual with a smaller but highly engaged following on social media, typically ranging from 10,000 to 100,000 followers. The video script introduces Alix Carey, known as 'my kitchen drawer' on Instagram, as a micro influencer. The speaker suggests that working with micro influencers can be more cost-effective and potentially yield a higher ROI due to their engaged audience.

💡Outreach

Outreach in the context of influencer marketing refers to the process of initiating contact with potential influencers to discuss collaboration. The video provides tips on how to conduct outreach professionally and honestly, emphasizing the importance of clear communication and leveraging mutual contacts for introductions.

💡Content Authenticity

Content authenticity is the concept of creating content that is genuine and true to the influencer's personal brand and style. The video stresses the importance of allowing influencers to create content that is authentic to them, as this tends to result in higher audience engagement and a more successful marketing campaign.

💡Contract

In the video, a contract is mentioned as a crucial document that outlines the terms of the partnership between a brand and an influencer. It includes details such as the scope of the partnership, compensation, content requirements, and approval processes. The script advises getting contracts reviewed by an attorney to ensure all legal aspects are covered.

💡Campaign Measurement

Campaign measurement involves tracking and analyzing the performance of a marketing campaign. In the script, the speaker discusses using a template to track metrics such as impressions, engagements, clicks, and website visits resulting from influencer content. This data helps determine the ROI and the effectiveness of the influencer marketing strategy.

💡Best Practices

Best practices refer to the recommended methods or techniques in a particular field or activity. The video outlines several best practices for influencer marketing, such as partnering with influencers who align with the brand's message and values, conducting thorough research, and ensuring all agreements are in writing.

💡Common Mistakes

The video identifies several common mistakes to avoid in influencer marketing, such as forcing a product on an influencer whose audience isn't interested, prioritizing follower count over engagement, and not defining clear goals. These mistakes can hinder the success of a campaign and are highlighted as pitfalls to be avoided.

Highlights

Influencer marketing can generate up to a 20x return on investment.

Crafting an influencer marketing strategy for Jamal's Cookies.

Avoiding common mistakes in influencer marketing.

Benefits observed from an influencer campaign by a major US brand.

Selecting an influencer in the food space for showcasing Jamal's cookies.

Barbara Costello, known as brunch with Babs, as a potential influencer.

Importance of engagement rate in influencer selection.

Consideration of mega, macro, micro, and nano influencers for ROI.

Researching micro-influencer Alix Carey for brand suitability.

Factors to consider when choosing an influencer for brand alignment.

Initiating outreach to influencers with clear goals and examples.

The importance of not micromanaging and allowing influencer creativity.

Drafting comprehensive agreements covering partnership details.

Using a template to track and manage contract status and deliverables.

Measuring campaign performance through impressions, engagements, and website metrics.

Best practices for partnering with influencers, emphasizing brand support and contract clarity.

Common mistakes to avoid in influencer marketing, such as forced product placement and prioritizing followers over engagement.

The successful Dunkin' and Charli D'Amelio influencer campaign which increased app downloads by 57%.

HubSpot's free influencer marketing kit and its benefits for businesses.

Transcripts

- So, here's a crazy fact I learned recently.

Every $1 spent on influencer marketing

can generate up to $20 of profit.

That's a 20x return on investment.

Absolutely mad.

So, that's why I'm here to walk you through

crafting an influencer marketing strategy

as I create one for my own business, Jamal's Cookies.

Plus, I'll take a look at the biggest mistakes

to avoid when entering the world of influencers

and how even one of the most beloved

and ubiquitous brands in the US

was able to benefit from an influencer campaign.

You're not gonna wanna miss that,

so be sure to stay tuned to the very end.

Now I'm looking for an influencer in the food space

to show off how delicious

and affordable Jamal's cookies are.

So, I'm gonna start there.

One of my favorites to cover the food space

is Barbara Costello, AKA brunch with Babs,

the internet's grubbing grandmother.

I see that she posts ads like this one

for Athletic Brewing Company's non-alcoholic beer

in a way that's organic

to the way she typically posts for her audience.

So in the influencer research template,

I'll fill in the pertinent information, like platform,

follower count, contact information and category.

You can use an engagement rate calculator like this one

from Phlanx for a bird's eye look

at a particular influencer's impact.

Babs has a good but average engagement rate on Instagram

for what we call a mega influencer,

or an account with 1 million plus followers.

You could find that macro, micro, and nano influencers

may actually have a higher engagement rate,

due to their smaller, but highly engaged audience.

I suppose that probably makes Babs a nana influencer

because she's someone's grandma.

Mega influencers reach is usually equal

to the rates they charge.

So if you're a smaller business,

you may get more return on investment with a micro

or nano influencer.

So just to be thorough,

I'm going to investigate a micro influencer I really like,

Alix Carey AKA, my kitchen drawer on Instagram.

Her engagement rate is a bit lower,

but that might mean more affordable.

It's worth doing thorough research at every level

of influencer so you can determine

what will work best for your brand.

Some things to keep in mind during this stage.

Does the product you're selling match

what the influencer's audience is interested in?

Is the influencer's reach in the same place

as your target audience?

If you're trying to reach teens, for instance,

a LinkedIn influencer probably isn't the way to go.

Does the influencer's demographic match the buyer persona

you're trying to appeal to?

And finally, is the influencer well-liked on the whole?

Remember, they'll be associated with your brand.

So if you're a wholesome cookie person like myself,

you probably don't want someone controversial or edgy.

So you've settled on an influencer you'd like to work with.

Now what?

Once you've identified your candidates,

it's time to start outreach.

In the free HubSpot ebook,

there are some great templates

for starting the conversation via email or dm.

When you're starting outreach,

try to take advantage of any mutual contacts you might have

for an introduction,

but always be professional and honest

with what you're looking for.

A few things to keep in mind when you begin

to reach out to influencers.

State your goal clearly.

Let them know at the outset what outcome you're hoping for.

Show them visual examples of other campaigns that you like

to give them a showcase of what you're looking for.

Keep the numbers simple.

Don't bog them down too heavily in the data.

Give them the brass tacks

that are relevant to your campaign.

Be clear on the responsibilities of who you partner with.

Are they creating the content or just sharing it?

Finally, don't micromanage.

You want to brief them on your goals and intentions,

but allow them the space to pitch ideas that work

for their own brand.

The more authentic the content is to the influencer,

the more engaged their audience will be.

When the time finally comes to drop an agreement,

be sure to cover all your bases.

This includes things like

the extent of the partnership,

method of compensation,

the type and amount of content included,

promotional requirements, approval process,

content copyright, and sunset clauses.

In other words, how long the sponsored content

should stay live on their page.

There's a lot to go through here,

and I'm not a legal professional,

so make sure to get the contracts

looked over by an attorney.

But once contracts are in motion,

the agreements tracker in the template

makes it easy to track and manage the status

of contracts and deliverables.

So, be sure to check that out too.

I just have to copy over the influencer info

and use these dropdowns to change the status of the field.

So here, I've sent the contract to Babs

and I'm waiting for her to get back to me,

while the other contract is signed and delivered.

So contracts are signed, content is live, now what?

Well, once the campaign is complete,

I'll move to the campaign measurement tab in the template

and start tracking just how well it performed.

I'm gonna input the total impressions, engagements,

and clicks and visits to the Jamal's Cookies website

as a result of that specific piece of content.

Yeah, not too shabby.

In the long run, keeping track will not only help you

determine your total return on investment,

but over time also help you form a clear picture

of the type of influencers and content

that are getting you the most value.

Influencer marketing can feel like a whole new world

to a lot of us, especially if you've been entrenched

in more traditional marketing methods.

So, what are some of the best practices

when you partner with an influencer?

I touched on it a little earlier,

but I want to underline its importance.

The best tip I can offer is to partner with influencers

that support your brand's message, your company's culture,

and your personal, moral, and ethical standards.

Do thorough research on the influencer's brand,

previous partnerships, and reputation,

before signing any contracts.

And to that last point, you should always have contracts.

Handshake deals have no place here,

even if they have really nice nails

that are perfectly manicured.

Always make sure everything is in writing

with responsibilities and expectations spelled out clearly.

Point out the value you can provide to the influencer

to show them why the partnership

would be mutually beneficial.

Sure you're paying them or giving them free stuff,

but perhaps cross-posting

with your brand's own social accounts

will lead to new followers for their accounts as well, hmm.

To that end, you should also be interacting

with their content organically through social media

and not just the stuff you're tagged it.

Authenticity goes a long way for both your partnership

and the relationship with the audience.

Now, if you're new to this world, it's super easy

to fall into some common mistakes.

So what should you absolutely avoid at all costs?

First, do not force your product on an influencer

that just doesn't make sense.

We all remember the Kendall Jenner Pepsi ad.

It might be tempting to go after a big name

if you've got the budget,

but if your audience doesn't intersect with your own,

the outcome will only damage both brands.

People don't like it when things they're not interested in

are forced onto their feeds.

Common mistake number two,

prioritizing the number of followers over engagement.

Remember, just because an influencer

has 10 million followers,

doesn't mean 10 million people are 100% engaged.

If you're deciding between two options,

one with a million followers and poor engagement,

and one with 15,000 followers and excellent engagement,

generally you're better off going with the latter.

Mistake number three, not defining goals.

It's critical to be absolutely clear,

I'm talking clearer than a VVS diamond,

with your key performance indicators,

so you can track the success and value of your campaign.

Know which metrics are going to truly benefit your business.

Defining your goals will help you choose

the right influencers to partner with,

hold them accountable for the benchmarks you sent,

and will help you be able to define the success

of the campaign in total.

Number four, not providing a well thought out brief.

You want to be able to clearly show your goals, timeline,

budget, target audience,

and key info about the product you're featuring.

If you're a vegan brand, for instance,

it should be mentioned in the brief

that the influencer shouldn't be using any meat

or animal byproducts in their content that's promoting it.

The flip side to this is common mistake number five,

not letting the influencer be creative.

It's important to write a comprehensive brief,

but you're hiring these folks for a reason.

They know how to talk with their audience the best,

so let them.

As long as expectations are clearly defined,

influencers will create more effective content

for their audience when you give them the freedom to do so.

At the start of this video, I mentioned taking a look

at an influencer campaign

for one of the US's most beloved brands.

So what was I talking about?

Well, as you probably are aware,

America runs on Dunkin', and in 2020,

TikTok was running on Charli D'Amelio's dance videos,

as she was the first creator

to reach 100 million followers of the platform.

Charli was often seen sipping ice coffee in her videos,

and soon enough it became clear that it was Dunkin'.

Can you see where this is headed?

In an epic partnership, Dunkin' created the Charli,

a drink inspired by the influencer's usual order.

The star promoted it on her TikTok, along with an offer

for 100 bonus Dunkin' rewards points

if they ordered the drink through the Dunkin' app.

Any guesses on what happened?

Yeah, downloads of the Dunkin' app

increased by 57% thanks to The Charli.

(emoji exploding)

Undoubtedly, Dunkin's goal was to increase app installs

through this partnership and it a hundred percent worked.

So with all that said,

influencer marketing is serious business

in the form of fun content.

And the great news is your business

doesn't have to be left behind

in this ever evolving age of influencer marketing.

So be sure to download HubSpot's free

influencer marketing kit,

that includes the templates that I use in this video,

and a complete ebook with all the ins and outs

you need to know for a successful influencer campaign.

What has your business done to partner with influencers?

Let us know in the comments below,

and be sure to like and subscribe

to HubSpot's YouTube channel for more great tips,

tricks, and how tos from yours truly.

Now, if you'll excuse me,

I think I gotta go get the Charli from Dunkin'.

I don't know if that promotion's still running,

but if it isn't, I'm gonna bring it back.

Until then, I'll see you next time.

(upbeat music)

- I can't find this client info.

- Have you heard of HubSpot?

HubSpot is a CRM platform,

so it shares its data across every application.

Every team can stay aligned.

No out of sync spreadsheets or dueling databases.

HubSpot, grow better.