Top 3 Tips To Reduce Influencer Marketing Cost

Top 3 Tips To Reduce Influencer Marketing Cost

Reduce Influencer Marketing Cost

Who would have thought watching Nick Offerman sitting by a fireplace and sipping whiskey for 44 minutes would go viral? But it did. The concept was pretty simple. A chair by the fireplace. A bottle of whisky at his left. And silent gazes at the camera.

You feel on the edge of your seat as you watch, anticipating something phenomenal or some twist and turns. But nothing! Just a man gazing at the camera, with a whisky by his side and glass at hand. This influencer campaign was so successful that it won an award as one of the best cases in influencer marketing campaigns.

It was creative. Simple. And the best part – cost-effective. So while this idea may not work a second time, you can make it work by creating something as unique and creative as this campaign without breaking the bank.

The dream of every marketer and CFO is to reduce influencer marketing cost without compromising the results. And guess what, it’s possible. Here’s how to save money on an influencer campaign.


1. Work With Mid-influencers

A report by Dectech proves that mid-influencers exert more influence over celebrities. Although they may not don’t have as many followers compared to celebrities, the followers they’ve amassed are loyal and supportive, with a high engagement rate.

And the best part: their services wouldn’t cost you a hand and a leg. You don’t have to use celebrity influencers whose rate is equivalent to selling your soul to the devil. Especially when there are more passionate individuals with engaged followers who promise a much better result

Once you get in touch, they are willing to offer you a better deal if you bring them more business down the line. So drafting a long-term contract with your influencers is ideal if you want to reduce your influencer marketing cost.


2. Establish Relationships With Your Influencers

The more you know your influencers, the better the working relationship. After all, they are humans with feelings, passions, and interests. You’ll need to turn yourself into a detective to uncover what they are passionate about, the things that make them spark. For instance, if your influencer is passionate about combating climate change or perhaps rescuing animals, that’s an angle you can use.

You could host a climate change fundraising event and invite them to attend. Chances are they will honor the invitation. But if they don’t, rest assured that they are bound to let others know about the event.

Cyberstalk them with every resource you have and get insight into what they say and post. If you can learn to create posts that center around their interest and include a quote from a piece they’ve written, they will be more likely to share with their followers. You discover that you’re using their influence to promote your brand by paying little to nothing in the long haul.


3. Use an automated payout system

A while ago, paying influencers after an incredible job was a hassle. First, you’ll have to sort through multiple invoices one after the other, burning precious time better spent focusing on the big picture. And worst, you end up spending more on transaction fees.

These issues are simply because influencer marketing specialists didn’t have access to an automated payment system. But when they automated this process using Gigapay’s payment system, they saved themselves a ton of headache and money, and  also improved the relationships with their influencers.

Some of the best marketing companies in Sweden have already integrated this feature, like TaskRunner, Vembla, TidyApp, Ksting, and Adrecord. Imagine how many influencers would want to work with you again when you always pay instantly, with taxes and social benefits declared.


Takeaway

Getting the most from your influencer marketing strategy is not rocket science, and it doesn’t have to cost you everything either. Once you have identified an influencer whose followers are your target audience, get in touch and propose a long-term contract.

Nurture the relationship. Spoil them by always paying them instantly. And don’t forget to offer their followers something that they’ll appreciate. Do this, and you’ll have a good chance of getting some great publicity without spending big.

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