Influencer marketing for startups

Module 2: Setting campaign objectives & KPIs

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Summary

In this module, you will learn the prerequisites for setting up a successful influencer marketing campaign, defining your target audience, setting specific campaign objectives, & KPIs and also discover 3 commonly used influencer marketing strategies.
View the course to understand all of the above points in detail along with relevant and specific examples. Look forward to upcoming content on selecting the right influencers based on various metrics in the next video.

Highlights

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Prioritize clear brand positioning: Start by crafting a concise and distinctive brand positioning statement. This description should succinctly encapsulate your brand's essence.
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Establish a verified social media presence: Optimize your social media handles and aim for verification to enhance credibility. Your profiles should reflect your brand's identity effectively.
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Set up your website or online store: Ensure you have a well-designed and user-friendly website. This platform should efficiently convey essential information to visitors and be optimized to drive sales conversions. SmartBiz by Amazon can help you create your own fully functional e-commerce website without any design or coding knowledge.
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Define your target audience: Utilize demographic and psychographic segmentation to precisely define your target audience. Consider factors like age, gender, location, values, interests, and spending habits to tailor your strategies accordingly.
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Set Clear Campaign Objectives:
- Brand Awareness: Focus on influencer campaigns for brand mentions. Use product reviews, and content sharing to generate buzz and visibility. Macro influencers and celebrities are the best choice for generating brand awareness because of their large number of followers.

- Engagement: Engage your audience through social media takeovers, contests, shoutouts, and collaborations with bloggers to foster interaction and participation. For engagement, micro and nano influencers are much more suitable categories than any other influencers.

- Lead generation/ sales: Drive conversions and revenue by employing strategies such as custom coupon codes, promotions, haul videos, and affiliate marketing.
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Define Key Performance Indicators (KPIs): Establish measurable metrics aligned with your campaign objectives to track performance effectively. Monitor metrics like direct sales, website traffic, social media mentions, engagement rate, and follower growth to gauge success.
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Implement effective campaign strategies: Basis campaign objective, plan and implement the right campaign strategy. Some commonly leveraged campaign strategies are:

- Pilot campaigns: Test a variety of strategies on a small scale to determine what resonates best with your audience before scaling up.

- Hero-Hub-Hygiene Strategy: Employ a tiered approach, starting with hero content for awareness, hub content for consideration, and hygiene content for conversion.

- Barter Campaigns: Collaborate with influencers by providing products/ services in exchange for promotion, facilitating product feedback and mass awareness.
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Allocate Budget Wisely:
-For pilot campaigns, budgets can range between INR 2 to 10 lakhs to experiment with different strategies and evaluate results.

-For larger, pan-India campaigns, allocate INR 10 to 15 lakhs per month to execute comprehensive campaigns aimed at broader audiences.

-Remember to adjust your budget based on your company's stage and comfort level, prioritizing experimentation to refine your strategy for optimal returns.

Next Module: Finding the right influencers

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