This is a tried and tested theory and it will save you money! (Guaranteed)
Have you defined a phased release of your product or service to distribution partners in key target markets?
Most entrepreneurs are typically forced to think very niche with traditional advertising because of small budgets. So naturally, they are phasing their business deployment in select target markets.
But that strategy gets a little skewed when working with influencers. Why? Because working influencers allows you to tap into so many target markets so cheaply.
Shoutouts and mentions can cost as little as $200 to a highly engaged audience in the tens of thousands! And on the flip side, you can find influencers who will charge thousands of dollars for posting content in a way that does not serve you, and to audiences who do not serve you.
And with influencers all around the world so readily available to promote your product, it’s super important to launch your campaign intelligently and NOT be lured in by everyone willing to sell or promote your stuff!
I deep dive into the dynamics of the influencer marketplace and what effects influencer prices and typical rates in my influencer marketing blueprint program. You can access that training here.
But right now I want to give you some solid advice on how to limit negative exposure.
Because remember, your goal should be to optimize your phased deployment in line with your objectives, KPI milestones, and timelines. Remember, you are working with Influencers to help you achieve YOUR goal, not theirs.
What’s a phased release?
A phased release, or rollout, is a process where you activate influencers in stages instead of all at once. You could limit the release of your influencer and distribution marketing partnerships to geographic restrictions, targeted audiences, or specific demographics.
Here are 3 ways to manage a phased release:
# 1 Start with key target markets
By targeting influencers who speak to audiences in specific geographical areas allows you to see how influencers in those areas (and their respective audiences) respond to your offer. This allows you to adjust and respond to feedback accordingly. Your production, backend processes, sales message or infrastructure can be adjusted and scaled appropriately in line adoption.
For example, if there was something wrong with your product or if an influencer’s content or message became detrimental to your brand, you can immediately hit the pause button and fix things in a more manageable way. This limits any negative exposure to your other Influencers and customers, instead of everyone!
# 2 Set milestones and KPIs
Using success measures like tracking KPIs for brand awareness, direct response and overall sales is particularly important for a new product launch using influencers.
You can make changes to content, change influencer types relative to geographical markets, create different sales funnels phase by phase and market by market. You can quickly highlight areas which are hampering or bottlenecking your success measures and adjust for best possible outcomes.
KPI’s for influencers building brand Awareness could be:
- Website traffic
- Branded Searches
- Brand mentions
- Media mentions
- Likes, shares, comments
KPI’s for influencers focusing on direct response KPIs could be:
- Email signups
- Click Through Rates
- Content downloads
- User Account creation
- Cost Per Lead
# 3 Create reasonable timelines for measuring success
If you set realistic timelines, mapping each stage becomes simpler…
So define the timelines you want to tie to your market penetration strategy and other success measures so you can properly plan your pre-launch, launch, and post-launch strategy.
And don’t forget when developing your timeline you want to be thinking about which influencers you want to approach…
Influencers come in all shapes and sizes, some work best for brand awareness, some great for direct response. Some speak to a certain geographic target better than others and some are better with certain demographics. You may want to work with all of them, but it’s wise to phase your collaborations in line with your target markets and with what success measures are most important to you!
For a deep dive into influencer marketing, check out my influencer marketing blueprint HERE.