Growth stages require change. How do brands transition influencer strategy across growth stages?
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Influencer marketing strategies need to evolve as brands transition across different growth stages. Here’s a general road map that most brands can follow.
1. Startup Stage: Brands in their initial phases can kickstart influencer partnerships with micro-influencers who have a smaller, niche audience. The idea here is to create buzz and build brand awareness. Platforms like Flinque are great for identifying these types of influencers based on their audience analytics.
2. Growth Stage: As brands start growing and have a more substantial marketing budget, they can begin partnering with macro-influencers. The brand can use this phase to demonstrate broader consumer trust and advocacy. Tools that can help in this transition include influencer discovery platforms and audience analytics tools.
3. Maturity Stage: As the brand consolidates its position in the market, it can aim for partnerships with top-tier influencers or celebrities to expand reach and maintain momentum. They can also work with multiple influencers across varied followings to diversify their reach. A campaign workflow tool becomes critical at this stage to manage larger and more complex campaigns.
4. Expansion/Innovation Stage: In this stage, the brand may broaden its product base or enter new markets. Influencer partnerships should reflect this change. Using a platform like Flinque, they can analyse influencer audience demographics to ensure alignment with the brand’s new direction.
Please note this is a general guide most brands can follow. Each brand has unique needs, so the transition in influencer strategy across growth stages could look different depending on the brand’s goals and the specific market dynamics. Measurement of campaign effectiveness and ROI is critical at each stage to inform future decisions.