Speaker 1: If you want to get the most from your influencer marketing campaign, it's important to have a good relationship with your influencers. The more you get to know each other, the easier it will be for them to understand and communicate your brand message correctly. That's why in this video we'll tell you what Influencer Relationship Management is and how you can implement an IRM strategy to drive growth in your company. Let's take a look. What is Influencer Relationship Management? Influencer Relationship Management, IRM for short, is a term used to describe all your interactions with an influencer. This includes your first contact with an influencer and every interaction you have before, during and after launching an influencer marketing campaign. The aim of an Influencer Relationship Management strategy is to develop an ongoing collaboration where both brand and influencer can get to know each other better in order to create more relevant and effective campaigns. It's a bit like Customer Relationship Management, except instead of managing your relationships with your customers, you're getting to know your influencers better in order to drive growth and boost your ROI. How can Influencer Relationship Management tools help? Influencer Relationship Management tools are a form of marketing campaign software that brands and agencies can use to improve the way they develop their collaborations. With the right tools, you can nurture meaningful and ongoing relationships with your influencers. You can get to know the specific skills, content formats, platforms, and marketing styles of each influencer, and they can develop an in-depth understanding of who you are and what your brand represents. For example, InfluenCity's Influencer Relationship Management tool has been designed to enhance each stage of the influencer relationship. This includes the research stage, where you measure and compare influencer performance metrics and market segmentations, initial contacts, negotiations, campaign preparation and management, follow-ups, and final feedback. By creating a page for an influencer in your IRM, you're creating a one-stop shop where you can view their various profile metrics, save notes, price history, and email exchanges, and add any relevant contact details. Perhaps the biggest benefit is that instead of storing all this information on spreadsheets and emails, you can centralize every detail and access what you need at the click of a button. This makes it much easier to stay up-to-date with negotiations, pricing, proposals, and collaborations. If you're interested in trying InfluenCity for free, you can find a link in the description of this video. And to have some tips on how to pick the best influencer marketing platform for your business, download our free ebook for a complete overview of the options available. Now, let's see a few influencer relationship management best practices to help you develop profitable collaborations with your influencers. Identify and vet influencers to find the right fit Before you use influencer relationship management tools to develop your collaborations, it's important to identify and evaluate each influencer to make sure they are a good fit for the specific goals of your campaign. The best way to vet influencers is to look into their background and past performance. You need to make sure that the content they post aligns with your brand and that it's creative and engaging. You also need to make sure that their audience is relevant and likely to take an interest in your campaigns. Plus, their follower demographics need to align with your target market, and users need to be active and engaged with the influencers' posts. Develop mutually beneficial partnerships It's also important that the influencer you collaborate with sees the relationship as being mutually beneficial. Otherwise, they won't be motivated to perform at their best with your campaigns. The best way to establish this is to pay your influencers fairly. But you should also make sure you provide influencers with as much information about you, your company, and your brand so that they understand the value that you are offering and can form an emotional connection with it. Measure the success of your IRM program Finally, it's important to regularly measure and track the success of your influencer relationship management program. After all, if you don't track the results, then how can you improve it? The simple way to determine how effective your relationship with an influencer is, is to monitor their performance by checking on their content and their performance KPIs. If you click on the video that appears now, you will learn about the most important influencer marketing KPIs, or Key Performance Indicators. They are essential to measure the results of your campaigns. Thank you for watching. Subscribe to this channel if you like this content and see you in the next video.