How to Leverage Influencer Marketing in Singapore
Every business today is rushing to get its brand recognised online, and this has paved the way for influencer marketing in Singapore. It is a form of digital marketing that leverages on influencers and opinion leaders to reach a broader audience via social media channels.
Studies show that approximately 40% of consumers aged between 16 and 24 years, trust what people say online about brands more than they trust the ads put out by the business.
The starting point is to reach out to the influencers that will show your brand in the best light. You can do this by reaching out to the influencer personally or using an influencer marketing agency. The most common influencer marketing campaigns KPIs in Singapore include:
· Reach: This is measured by counting the number of followers gained. It is easy to measure but has the least value to your campaign
· Clicks: These are also easy to measure, and they are one of the most important performance-based metrics
· Engagement: This includes any social action taken by users, such as the number of shares, comments, and likes. This requires the use of a hashtag or a unique link for appropriate attribution. They are also more valuable to your campaign than clicks
· Conversion: This includes sign-ups, installations, form completion, and purchases. It is the hardest KPI to measure since it requires a pixel and amp or a promo code for attribution
Types of Influencers
Over the years, there has been a shift from using high-end influencers to using micro-influencers that are more relatable with your target audience. The different types of influencers are:
These are people who have over half a million followers on any social media platform. They include athletes, artists, musicians, among other celebrities who can drive between 2% and 5% engagement for every post. Unfortunately, they have the lowest overall resonance with the target audience, which makes them a secondary option when it comes to driving engagement for your brand.
These are professional vloggers and bloggers that have a following of between 50,000 and 500,000. They can drive between 5% and 20% engagement per post. Macro influencers have the highest topical relevance since they base their online presence around a specific category such as business, lifestyle, food, and travel, to name a few.
These are everyday consumers who have between 1,000 and 100,000 followers and can drive between 25% and 50% engagement per post. They tend to have the highest brand relevance since their influence is based on personal experience.
These are consumers who are passionate about a brand and are willing to share their experience. However, they have the least influence of all types of influencers. However, they can be a great source of user-generated content.
Before you start on influencer marketing in Singapore, you must plan the incentives to your intended influencers beforehand. There are different factors that you should consider before deciding on the incentives that you will extend to the influencers.
· Influencer type: Most mega and macro-influencers have been seen to prefer cash incentives. On the other hand, micro-influencers and brand advocates are open to different kinds of incentives other than cash
· Exclusivity: The incentives should be exclusive to the influencers you wish to work on your influencer marketing campaign
· Brand affinity: The preferred level of influencer relationship with a brand ought to be based on both parties sharing mutual beliefs
· Fulfilment effort: if an influencer has to create or share branded content, then the incentives will have to be higher
There are three common types of incentives used in influencer marketing in Singapore, including cash, recognition, and VIP treatment. However, you could also consider early access to products, discounts, exclusive events, an experience box, gift cards, limited product samples, and more.
Here are three trends that will help you leverage on influencer marketing and improve brand engagement:
Most brands make various mistakes with influencer marketing in Singapore such as solely relying on influencers for their digital marketing campaigns and choosing popular influencers without qualifying them. However, the biggest mistake brands make is posting or sharing irrelevant content.
However, in coming months and years consumers will be looking for quality and relevant content. Ideally, the content shared by the influencer ought to be suited to the influencer and the brand, natural, and must have a clear CTA to produce positive results.
People-Centric Influencer Marketing
Many marketers go into influencer marketing without considering the influencers who do the bulk of the work. For this reason, influencer marketing in Singapore is becoming more people-centric with a focus on the audience when implementing each influencer marketing campaign.
The campaigns ought to provide users with the right incentives to drive customers to make purchases and to add value to their lives.
Singaporeans Are Becoming More Risk-Averse
Singapore consumers are increasingly becoming reliant on word-of-mouth and influencers to make decisions on the items and services they purchase. This means that you cannot pass up on the chance to get into influencer marketing in Singapore. For starters, it is one of the best ways to improve your ROI.
While different brands have different goals for their marketing campaigns, certain objectives will help you leverage influencer marketing. The most common ones include product launches, community building, content generation, and brand awareness.
Influencer marketing in Singapore is the best way to improve brand engagement and improve ROI. However, you need to understand the rules governing influencer marketing; for example the influencer should indicate that it is an ad and not an ordinary post.
The influencer you pick could make or break your brand. For this reason, ensure that you share similar values to ensure that you have a long-lasting relationship. However, picking one is not as easy, and you ought to consider using an influencer marketing agency in Singapore.