Influencer marketing is not a new term to many marketers for home & furnishing brands. In fact, many of you have probably heard about it at least once by now, but one of the biggest questions remains - how do I calculate the ROI of influencer marketing? How do I prove to the executive team that this customer acquisition channel works to increase our brand and product awareness and result in sales?
This blog will dive deep into the five tips to transform your mindset when thinking about implementing influencer marketing for any home renovation and furnishing brands - especially if you are selling products that are high-price ticket items.
1. Finding the right influencer partners is key
2. Influencer marketing is about building a long-term relationship
3. Think about influencer marketing as part of an omnichannel approach
4. Trust the process - give it time to evolve, iterate and do A/B testing
5. Have a robust social media support system to back up your growth with influencer-generated buzz
Tips #1: Finding the right influencer partners is key
Consider this experience like going on a dating app looking for a serious relationship. You should ensure that the influencer you decide to work with has the same design aesthetics as your brand and can elevate your product when placed in their home or design projects. That influencer also has the right audience that you are targetting. To increase awareness amongst the millennial audience, you need to ensure that the influencer you partner with has a stronghold in that demographic.
Tips #2: Influencer marketing is not a one-time collaboration. It's about building a long-term relationshipWhen it comes to high-ticket items, it takes more than one touch point to convert your potential buyer to purchase from you - especially when they just heard about you for the first time. You need to create a long-term collaboration strategy to give the influencer the time to build that trust and awareness with their audience. For example, if you are exchanging a $5,000 product with an influencer that has 20K followers and 2% engagement rate, you can ask her to do the following:
Tips #3: Think about influencer marketing as part of an omnichannel approach instead of a stand-alone strategy One of the best parts about working with influencers is that you get to receive influencer-generated content. This is the most cost-efficient way for you to get authentic interior lifestyle content for your product. Once you receive this content, you should repurpose it everywhere to help your brand reach a wider audience. We suggest brands repost the content on their Instagram, Pinterest, Facebook, and YouTube channels. For the content that does well organically, you can run it as digital ads or whitelisting it with the influencer to continue amplifying the reach.
Tips #4: Trust the process - give it time to evolve, iterate and do A/B testingIt will take at least two to four months to kick start any influencer marketing campaigns for your brand. Once it starts, it is a lot easier for brands to continue the momentum and grow, but you have to trust the initial process and be patient with influencers. Many factors could come into play, including the supply chain delay, product lead time, compensation negotiation, PR involvement and conflicts with influencer's other marketing initiatives. This is what inspired us to build Giden in the first place - we want to take away the headache for brands to adapt to this new form of customer acquisition channel.
Tips #5: Have a robust support system to back up your growth with influencer-generated buzz From our experience, here are some key takeaways you can build to set your brand off to success. When you are finalizing the campaigns with influencers, your marketing team should also be making sure that your other marketing initiatives are running and this includes:
We hope that after reaching this article, it will give you more perspective on how you should plan and execute influencer marketing for your brand. If you are looking for a faster way to connect with industry-specific influencers, book a call with us here today, and we can walk you through our process of how we have helped other home furnishing brands grow their brand using influencer marketing.