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It’s Time to Put Dollars Behind Influencer Marketing.

Influencer marketing has quickly gone from a “nice to have” to a “need to have” when it comes to a fully integrated marketing approach. According to Influencer Marketing Hub, the influencer marketing industry is set to grow to approximately $16.4 billion globally in 2023. Brands are reporting an average $5.78 ROI for every $1 spent and 86% of businesses currently leveraging influencer marketing plan to increase their spend over the next 12 months.

Influencer Marketing Spending in the U.S. (in Billions) - This chart shows growth year over year, from $2.42B in 2019 to $4.62B projected in 2023

Moore has long seen success in this space, especially when it comes to selling young families on the benefits of Florida Prepaid College Plans. Influencers have accounted for more than 10 percent of overall Prepaid Plan sales each year for the past five years, and at a fraction of the budget spent in traditional areas such as paid digital and outdoor media.

When potential buyers hear about Prepaid directly from Planholders, it makes an impact. And while the messages are upbeat and light-hearted, the sales are serious. During one Open Enrollment period alone, 10 influencers helped drive nearly 4,000 plan sales — and these are big ticket items.

Ready to see what all the hype is about? Here are six tips to get you started.

  1. Identify your why. Are you after sales or brand awareness? Content creators can help you convert sales, but they can also be instrumental in increasing social following, which can be re-targeted in the future. Set your goals and plan your campaign accordingly.
  2. Play matchmaker. Research content creators to find the best match for your brand (we like to think of them as soulmates <3). Ask yourself what is at the heart of your brand, and then seek those values in your partnerships. Confirm quality of content and engagements through influencer marketing tools.
  3. Say hello. Reach out to the influencer via email or direct message. The first outreach doesn’t need to include specific details but should describe your brand, why you thought they would be interested and what’s in it for them (paid opportunity, exclusive access, all-inclusive trip, etc.).
  4. Collab. Once your potential soulmate has agreed they want to hear more, call to discuss the campaign and ideas for deliverables. Be sure to make this a two-way conversation — after all, they are the expert in the audience you are trying to reach (their followers).
  5. Ready to launch. Finalize deliverables, execute a formal agreement and then review content as available. Don’t overly edit their content; be sure to let their authentic voice shine. (If you wanted this to be your brand’s voice, you could have just run a paid social campaign.)
  6. Celebrate success. Identify key pieces of content for boosting or use directly on your brand’s channels to maximize the creative content. Review the data to optimize future campaign goals and performance, and identify influencers you’d like to work with again.

While influencer marketing is an art, Moore has it down to a science. Moore’s experience in this space, paired with our proprietary 10-step vetting process, streamlines campaigns to deliver best-in-class partnerships and easy campaign management. Reach out to Moore and learn how we can customize an influencer campaign just for you.

Meredith Westheimer is Senior Director at Moore and the agency’s subject matter expert for influencer campaigns. You can reach her at [email protected].

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