Influencer Marketing: Whether to Outsource or In-house?

2019

Influencer Marketing: Whether to Outsource or In-house?

Influencer marketing can be assigned to an in-house team or you can use outsourced solutions. Both approaches have their merits and demerits.

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Influencer marketing is a type of marketing that focuses on using key leaders to drive your brand messages to the larger market. It is a new concept that has become popular in the last few years. As the world is becoming technologically advanced, companies are looking for new ways to expand their business and influencer marketing is an innovative way that allows your brands to connect with their audience in a more organic manner, when compared to traditional forms of digital advertising. The influencer promotes the brand’s products or service through various media platforms but it should not be confused with celebrity endorsement. Due to lack of resources and internal knowledge, some companies choose to use outsourced solutions for influencer marketing.

According to Nielsen’s 2015 Global Trust in Advertising report, 66 percent of North America trust opinions made online by fellow consumers.

Today, people tend to trust online

influencers more compared to other forms of advertising like TV or news paper ads. This is due to the rising use of mobile phones and easy access to social media channels.

Influencers operate independently, creating their own content and integrating a company's advertising specifications into it. This promotes authenticity and helps reach a wider audience. efforts.

Therefore, almost all businesses are now focusing on influencer marketing

However, the challenge is that businesses cannot decide whether to outsource

influencer marketing or not. Some businesses have an in-house influencer marketing team whereas some choose to outsource. Both outsourcing and in-housing come with their own share of merits and demerits. ➢

Cost benefits: Setting up an in-house team for influencer marketing can be expensive. Two studies by Glassdoor and the Society for Human Resource Management put the average cost-per-hire at about $4,000 and $4,425 respectively. And, don't forget to factor in the median salary of a marketing professional. Outsourcing influencer marketing is an affordable option because it does not include salaries of new personnel, cost for training, cost per hire etc. Companies that provide influencer marketing charge fees which includes both the payment of influencer as well as the agency. The factors that determine the cost for hiring an influencer are the type of influencer, the type of content and quantity, and the experience of the influencer.

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Time: Having an in-house team gives you the liberty to work with experts at your comfort and it also gives you an opportunity to connect with influencers directly. It lets you understand how the process works, their communication style and also plan future campaigns more efficiently and quickly. An influencer marketing platform helps your team speed up the process of finding influencers and allows you to search

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their influencer databases by category, reach, engagement, social platforms and more. It saves time and also allows you to create and measure campaigns.

However, you have to spend more time on hiring and the process might have a financial impact as well. With an influencer marketing agency, all you need is the time to evaluate the agency.

What to Choose From the above discussion, we can understand that outsourcing reduces money and time you need to spend on influencer marketing. At the same time, in-housing influencer marketing promises a long lasting rapport with the influencer directly. You can invest in both approaches – for example, organizations with an internal team can hire outside teams occasionally to promote their content.

Outsource Influencer Marketing in the Following Instances ➢

If you are new to influencer marketing: If you are new to this concept, then you may not know who to contact, what type of contract to use for influencer campaign, the metrics to success and so on. There are many factors from start to finish that need to be considered. But a professional agency will let you navigate correctly and make your job easier.

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If you are not ready to pay for a dedicated team: Identifying the right influencers, communicating with them and other related tasks are time-consuming activities. So, if you don't want to keep these efforts in-house, then outsourcing is the best choice. Hire a professional team that can focus on managing these efforts.

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If you are planning influencer marketing for multiple campaigns: Some companies are multi-faceted and they may target multiple segments at a time. In order to reach out to the right audience, you will need a network of influencers and it may be difficult to handle more than one influencer campaign. In such cases outsourcing will help you manage these efforts effectively.

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If you are incapable of researching the ever evolving industry: To stay ahead of the competitors, you should study the ever changing market, new trends, marketing strategies etc. If your business is not prepared to keep an eye on the changes, then outsourcing is the best choice. Outsourcing agencies keep a close eye on emerging trends and stay ahead of the curve and they will know how to plan you influencer marketing strategy.

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Success Stories of Outsourcing Influencer Marketing •

HiSmile is startup based on the sunny Gold Coast that produces teeth whitening and other related products. They successfully outsourced influencer marketing with a turnover of $10 million in just 18 months. HiSmile founders Nik Mirkovic and Alex Tomic targeted big names with a broad reach to introduce their teeth whitening products to 15- to 24-year-olds and they were successful. They bootstrapped with USD $20,200 of their personal savings and spent the money on influencers as it was the best way to reach consumers.

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Daniel Wellington is a watch company that uses influencer marketing. Daniel Wellington team targeted thousands of influencers across a range of niche groups, including travel, fashion, photography and so on.

With influencer marketing, the

company's revenue was around $220 million.

From the above we can conclude that outsourcing influencer marketing to a business process outsourcing company providing reliable outsourced solutions helps you save time and also achieve a competitive advantage.

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