November 14, 2018
/ by Sarah Parker
We just discussed how you can use Digital PR as a framework to justify your budget for 2019 and now we want to dive deeper into the influencer marketing section of the budget.
Before diving into influencer marketing for your brand, be sure you have the right influencer strategy in place that matches the goals that any campaign or partnership is trying to achieve.
Influencer marketing is just one strategy and it might not be the right strategy for your brand. It's also possible that a "traditional" influencer marketing approach isn't right for your brand, but there is a creative angle that does make sense.
We'll break down what you need for your budget, no matter which stage of influencer marketing your brand finds itself in.
If your boss hasn't bought into the need for influencer marketing, you need some research to back up your budget ask.
Start with the following:
Journalists are only one type of influencer, but they're an important component of an overall influencer marketing strategy for a PR professional.
So, how much should you ask for? That will of course depend on your brand's available resources, but the following should help you get started.
To decide how much of your budget to allocate to influencer marketing, you need to run through some qualifiers.
Start with these five:
All of these questions should help you frame out how much of your budget you should allocate for influencer marketing in 2019.
Be sure you're approaching the influencers that are right for your brand, that you and any influencers you work with agree on exactly how you'll measure success before you launch any campaign or partnership, and you have the right tools in place to do that measurement.
You don't want to make a researched case for how you'll use influencer marketing budget, then sign an agreement with an influencer who doesn't deliver.
You also don't want to agree on metrics then find the tools that you use can't cover what you were hoping to capture.
Let us know if we can help with that, or with sourcing your influencers.
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