The steps involved in selecting an influencer mainly revolve around their interests and engagement rates. The value of a influencer cannot be understated because of their authenticity. Consumers will be skeptical and avoid a crypto brand that settles on a vlogger. Thus, target influencers who share the same values and interests as the promoted product. Experts and sharers are the perfect fit for a crypto marketing plan. They generate informative substance that can be used to promote a brand and its products.
It is also advisable to target micro and nano influencers who are creative, entertaining and familiar with cryptocurrency. A good place to start is researching relevant social media hashtags. Create a list of influencers who use hashtags that relate to a business and its campaign and narrow it down based on engagement rates and other factors suitable to the campaign. When time is a constraint, an easier alternative is marketing agencies. Outsourcing agencies relieves the research burden. Besides, the agencies usually have a wide connection of media marketers and can partner a brand with the right one. It will cost something but it's generally a fair trade when time and ROI are considered.
Next, if you have a budget in mind, offer compensatory propositions, or inquire about their advertising rates and determine how else they can be compensated. Non-monetary compensation like discount codes and free samples can also be negotiated. Alternatively, ambassador programs are effective for large campaigns. Bloggers are compensated commissions on all sales and investments made as a result of their recommendations. Think of it as a digital sales agent program that connects brands to blockchain fans who engage in brand awareness. Similar to all successful relationships, establishing rapport with creators is important. During the project, tracking performance and engaging with the creator's campaign product, i.e., retweeting and sharing stories, is one way of establishing rapport. It's also a good idea form brands to partner with entrepreneurs they've previously collaborated with.