Influencer Marketing Tips: Why Pay Creators a Monthly Retainer?

The modern consumer is changing. Users prefer authenticity over traditional advertising methods, and brands must adhere to this demand to convert their audience. Our influencer marketing tips can help you do this.

Brands want to collaborate with creators that their audience trusts. Influencers are often the first choice for their sizable following and personable approach to social media marketing.

In this blog, we’ll provide tips on the importance of finding the right influencers, how to establish meaningful partnerships for successful campaigns, and why paying per retainer is worth it.

Yaniv Masjedi
CMO, Nextiva

Their expertise has helped Nextiva grow its brand and overall business

Build Influencer Partnerships

Why Marketing Businesses Do Influencer Marketing

There’s a reason why 60% of marketers say influencer marketing outperforms branded posts.

It leverages the popularity and reach of individuals who have built substantial followings on social media platforms. These influencers create genuine connections with their audience, making them ideal partners for promoting products and services. This makes them highly effective for promoting products and services, because their endorsements are often seen as more trustworthy than conventional advertising.

It’s no wonder why businesses are building relationships with individuals who have already cultivated their own audience, especially when their audience closely resembles your brand’s target demographic. This strategy helps you skip a few steps in the process of generating topical content that attracts people to your offer by tapping into pre-engaged groups.

Influencers are like brand ambassadors (although not everyone will be as influential as George Clooney!):

Celebrity Sells…What Else? | T1 2016 MPK732 Marketing Management (Cluster A)

Their endorsement can significantly amplify your visibility and credibility, as their followers often value their opinions and recommendations. All you have to do is convince them to represent your brand and it will create a ripple effect through them to their audience.

Finding the Right Influencers

The first step in launching a successful influencer marketing campaign is identifying and collaborating with the right influencers:

Here’s how to do it effectively:

  • Define your target audience: Begin by clearly identifying the consumers more likely to buy from your brand based on demographics, interests, preferences, and pain points.
  • Find the best influencers: Use hashtags, keywords, and searches to find influencers who resonate with your niche. You can also use the tools mentioned below to find influencers.
  • Vet influencers: Compile a list of potential influencers and conduct thorough research to ensure that they align with your brand’s values. Review their content and engagement rates, and analyze their audience demographics.
  • Reach out: Contact the most ideal influencers with a personalized message stating your interest in collaborating on your campaign. Explain how your products or services can add value to their audience.

The key here to phrase it as if you’re offering them a job. Don’t ask them to be a contractor or pay them per post. What they really want is a flat fee (most of the time). Suggest paying a retainer for one month, and be open to a partnership if you gain a good ROI on your campaign.

  • Supporting your influencer strategy: One of the things we see people neglect all too often when they partner up with one or more influencers is to have tie-ins on the landing pages that stem from a particular influencer. In this case, if Influencer “A” leads traffic to your site via an affiliate link, mention that influencer on the landing page, either by name or by having a picture of them.

And, of course, do this separately with different landing pages for each influencer you’re working with. This little detail creates a lot of connection to where the users came from and where they area headed (your website).

Monthly Retainers: A Win-Win Proposition

A monthly retainer involves paying influencers a fixed fee to create consistent content that promotes your brand, products, and/or services. Paying influencers a monthly retainer shifts the focus from one-off transactions to long-term partnerships.

And since 48% of marketers establish recurring payments with influencers, more content creators will expect this payment setup. Here are other reasons why this approach is a win-win for both brands and influencers:

  • Long-term commitment: Monthly retainers encourage influencers to partner with your brand. This commitment ensures consistent promotion for your brand.
  • Stability for influencers: Influencers appreciate the financial stability of a monthly retainer. It allows them to plan their content and allocate resources effectively.
  • Reliability and consistency: Brands benefit from a reliable stream of influencer content, and you’ll be able to track your campaign’s metrics more effectively.

Collaboration Terms and Optimizing Your Strategy

90% of marketers believe influencer marketing is effective. But to ensure a successful partnership, it’s crucial to establish clear collaboration terms and regularly monitor performance:

  • Defining collaboration terms: Outline the partnership terms in a formal agreement, specifying the monthly compensation and scope of work.
  • Track the campaign: Monitor the influencer’s performance by tracking metrics like engagement rates, click-through rates, and conversions. Provide constructive feedback and collaborate with influencers to optimize their content and strategy.
  • Flexibility: Be open to adjusting partnership terms based on performance data and changing campaign goals.

Tools for Finding Influencers

Several tools can assist in identifying the right influencers. But the two we recommend the most are SparkToro and Mighty Scout.

  • SparkToro is a great tool that provides insights into the influencers in your niche, their engagements, and their online presence. It helps businesses and marketers understand the behaviors, demographics and interests of their target audience by analyzing social media and web data.

  • Mighty Scout is another tool designed to help businesses discover influencers. Its user-friendly interface simplifies the process of identifying potential collaborators and measuring their impact on your brand through a handy dandy profit calculator.
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Click here for 16 Best Influencer Marketing Tools to Grow Your Brand and Boost Sales.

The Path to Influencer Marketing Success

Influencer marketing has become an integral strategy for businesses seeking to reach their target audience organically.

Finding the right influencers and establishing long-term partnerships are key steps in your social media marketing approach. Brands should pay their influencers a monthly retainer rather than per post to receive a consistent stream of promotion.

Give these influencer marketing tips a shot. After all, it’s the same approach we use in-house at Single Grain, and it’s worked for us! If you do, you’ll likely have a much easier time narrowing down on the best-suited, most passionate influencers to team up with your brand.

Just remember to treat every influencer partnering as its own special relationship. So long as you nurture the relationship well, it will be easy for your influencer partner to advocate for you authentically and eagerly.

If you’re ready to level up your brand’s growth, Single Grain’s influencer marketing experts can help!👇

Build Influencer Partnerships

 

For more insights and lessons about marketing, check out our Marketing School podcast on YouTube.

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