Marketers are dedicating more and more time and resources to influencer marketing. In fact, Bloglovin found that 63 percent of the marketers it surveyed had increased their budgets for influencer marketing in 2017. That trend is likely to continue in the coming years. And maybe you’re part of it.
But that’s only half the battle. Just increasing your influencer marketing budget doesn’t mean you’re going to yield better results. You need to have an accurate idea how to properly distribute that budget for your campaign and how to allocate a suitable amount for each aspect, to ensure that you don’t overspend. What’s more, you should be certain that whatever you’re spending it on is worth it.
All of this is a challenge, of course. But, with thorough planning, you can budget accurately for your 2018 influencer marketing campaigns. Here are three tips on how to manage that:
1. Understand the worth of influencers.
Influencer marketing can be applied to a slew of different startup ideas, but in some areas, it’s integral to driving large sales. Let’s focus on an apparel item, jerseys, for example — the kind worn by millennials, which play off music and sports personalities. In the jersey industry, where business owners search for ways to represent culturally relevant ideas, the music industry plays a major role because of its influence on shaping culture in the status quo.
Jersey Champs is one company I looked at because of its success setting up royalty deals with some of the most prominent music artists and professional athletes in the business.
The company’s point,of course, is to stay on top of today’s most trendy concepts and the market apparel that reflects them. So the company has worked with the likes of 2 Chainz, Logic, Khalid, Lil Pump, Dez Bryant; and it’s in talks with Wiz Khalifa & The…
