How to create an influencer marketing strategy?

Digital Marketing
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Like any marketing tactic, an influencer program takes deliberate targeting and planning. You won’t find strategic success just by sending free things out to everyone who asks or to your existing friends and acquaintances

1. How to find influencers and what to pay them

Much like any strategy, [research is the first step] Choose the platform you want to focus on first. You can always expand to other platforms later but if you’re just starting out, stick with one. Ideally, your brand should already have a presence on this network or be looking to expand into it.

If you’re unsure of where to begin, social listening can help you identify where people are talking about your industry and brand—and it can help you find the most influential voices in your industry on each platform. Check out our guide to social listening to learn more.
The industry you’re in also matters when you’re planning to implement an influencer marketing strategy. Beauty and fashion brands shine on Instagram and YouTube. The video game industry dominates on Twitch.

During your research phase, look into the type of influencers you’re interested in. Are you going for celebrities with massive followings? Or [microinfluencers with less than 2000 followers? Perhaps something in between in the 5–10k follower range is more your preference. Whatever you decide to focus on will determine your budget.

Compensation varies wildly, too, so be sure to look at common rates for those influencer types. Microinfluencers tend to be focused on a few topics and accept products. Some microinfluencers work independently while others may be represented by an agency or network. Whereas, larger accounts and celebrities will need compensation and might even go through a talent agency.

You’ll need to think about the expected ROI of your social influencer marketing campaign: how will you gauge the contributions of influencer posts to your overall marketing goals? One approach might be to compare your expectations for influencers to other firms – look at how you might gauge the budget for a video production firm’s work in creating an ad for you versus an influencer creating a video. It may initially seem like judging the value of influencers is unpredictable, but this type of approach will give you a familiar point of comparison and contrast.