10 TIPS TO PERFECT YOUR INFLUENCER MARKETING STRATEGY FOR 2024

10 tips to perfect your influencer marketing strategy for 2024

Q4 is rapidly approaching and brands are looking at either maximising this year’s budget and/or looking at next year’s.

And you can bet your bottom dollar that for any brand in sports or entertainment, a fair proportion of that budget is going to be kept aside for influencer marketing campaigns.

Influencer marketing has more than doubled since 2019, and this will in no doubt be partially due to the prevalence of user generated content on TikTok. Engagement rates on TikTok alone are great for creators, and that means we’re seeing an explosion of micro-influencers delivering super niche content for very specific audiences and getting great traction. 

Me? I’m obsessed with watching a woman pack her kid’s packed lunch every day. Couldn’t tell you why.

But with all great opportunities, there’s a catch. With so many types of influencer to choose from, it can feel overwhelming for brands to choose the right people or person. With apps changing so rapidly too, brands need to keep abreast of how those changes, like collaboration options on Instagram, affect current and future contracts. 

That’s why we at Mongoose have put together this step by step guide to perfecting your influencer strategy in 2024.

Define Your Client's Goals and Objectives

It’s back to basics. Is your brand looking to increase brand awareness, drive sales, or launch a new product? Clearly define the objectives to guide your influencer selection. If it’s a crossover of objectives, which commonly it is, you still need to decide which one objective is key.

Identify Your Target Audience

Revisit your audience. What are their demographics, interests, and behaviours? Where are they hanging out online? TikTok? If your objective is to reach gen z and raise awareness of a grassroot sports, for example, you’d not necessarily be looking at young influencers who already play a particular grassroots sports - you might want to be looking instead at people who demonstrate an aptitude to trying new things and generally being active and/or social. 

Research Influencers

There’s no one size fits all here.  Sometimes, the best way to find the right people is through search relevant hashtags, keywords, and industry-related topics to find influencers in your niche.

Many agencies will also deploy influencer marketing platforms: Tools like AspireIQ, Upfluence, and Captiv8 can help you discover and analyse potential influencers.

You also want to consult with your trustworthy friend Google, using searches and industry publications: Look for bloggers, vloggers, and social media personalities who are active in your industry. Of course, if you’ve a healthy budget, you might already know of those personalities - that’s how big they’ll already be. 

Evaluate Influencer Credibility

Assess the authenticity and credibility of potential influencers. Look for signs of genuine engagement, a real follower base, and consistent content quality. Beware of fake followers or engagement. Influencer marketing platforms can do the hard work for you in going through years of an influencers’ content, but there is no substitute for brands who do their own desk research to ensure they’re creating the right relationships.

Analyse Content Relevance and Engagement

When shortlisting, it’s essential to review the influencer's content to ensure it aligns with your client's brand values and messaging. Look for content themes, tone, and style that resonate with your target audience.Evaluate key engagement metrics, such as likes, comments, shares, and follower growth, to gauge an influencer's effectiveness. What past collaborations have they done? 

Assess Reputation and Ethics

This is a no brainer but you’ll need to investigate an influencer's reputation both online and offline. Ensure they have a history of ethical conduct and avoid partnering with influencers associated with controversy or scandal. Your brand might not be looking for a super squeaky clean look, but you’ll want to make sure it’s a risk you’re comfortable with. Some influencer tools, such as Captiv8, will allow you to filter for risk.

Reach Out and Build Relationships

Contact the selected influencers to discuss potential collaborations. A lot of mid to macro influencers will have agencies or they’ll already be working via influencer tech platforms. Talent agencies regularly approach PR marketing agencies like Mongoose to share who is on their books. But some micro influencers may not, and in this case, you’ll need to assume the relationship building might take a bit longer and you might be contacting them direct from social platforms. It’s obvious but you’ll want to be as transparent as possible about the offer, and ensure absolutely everything you agree is in writing. 

Legal and Contractual Considerations

Ensure all collaborations are legally sound. Contracts should clearly outline deliverables, compensation, exclusivity agreements, and content rights. Detail is absolutely everything. Do not get caught out by not defining rules for reuse, rules for paid campaigns, or exactly how you’d like your influencer to post. The devil really is in the detail and getting it wrong is expensive.

Measure and Report

Once you've chosen influencers and established partnerships, closely monitor the campaign's performance. Track key performance indicators (KPIs) and make adjustments as necessary to optimise results. If you’re given collaborator status on IG posts, you should get that data automatically, but you might otherwise be reliant on the influencer or the influencer’s agent to share that with you. Get this agreed upfront as part of the contract, don’t be left dangling without the metrics you need when the campaign is over. Similarly, some end-to-end influencer platforms will offer automated reporting, something which is particularly helpful when you’re managing multiple influencers for a brand over a long period.

Long-Term Relationships

Consider building long-term relationships with influencers who consistently deliver results and align with your client's brand. Repeat collaborations can enhance authenticity and audience trust and potentially turn into something much bigger and more cost-effective.

Finding the right influencers requires a combination of research, careful consideration, and ongoing relationship management with a keen eye on the detail. If you’d like support with your 2024 influencer strategy, please get in touch.