Setting a clear strategy is as important for influencer marketing as it is for any other marketing channel. A strong influencer marketing strategy not only provides a clear blueprint for the channel but also ensures that you get the most out of your investment.

The influencer marketing strategy your brand uses is impacted by several factors. For example, your budget, the amount of time you can dedicate to influencer marketing, and product fit, among other things. Each strategy works best when paired with specific types of influencers. We will reference these influencer types throughout the article. You can find the parameters we use to define them below:

  1. Celebrity influencer: An influencer whose fame was built outside of social media
  2. Mega-influencer: 1 million+ followers
  3. Macro/ Midsize-influencer: 10k-100k followers
  4. Micro-influencer: 3k-10k followers
  5. Nano-influencer: Less than 3k followers

As we explore the five different influencer marketing strategies and their use cases, it may be helpful to think of them in the shape of a pyramid, as you see in the below graphic.

Influencer Marketing Strategies pyramid

 

1. Collaborations

Collaborations are the tip of the iceberg when it comes to influencer marketing. This highly exclusive influencer marketing tactic refers to a joint venture between an influencer and brand, such as a new product line, in which the influencer earns a percentage of the total sales.

The most suitable influencers for this tactic are celebrities and mega- influencers with high trust and credibility in their niche. Although celebrities and mega-influencers are not always the best fit for influencer marketing, they work well for collaborations as long as they have previously worked with your brand and are genuinely engaged with the product or service. When collaborations are done right, their biggest strength is authenticity.

The downside of collaborations, however, is that it puts all of your influencer marketing eggs in one basket, both in terms of the channel’s effectiveness and the influencer’s reputation. If the influencer is caught up in a scandal or some type of bad will, it will negatively affect your brand.

The most common objective for this tactic is driving sales, with the corresponding KPI being revenue. Another common objective of a collaboration with a celebrity or mega influencer is to strengthen brand aw