Many influencers will attempt to launch a business though their social media but lack the core skills required to really drive it to market in an impactful way, with many falling by the wayside as just another unsuccessful project.
One of the first things to think about when launching a new business using social media is to consider your current and past content... Does the business you’re launching really align with your current output? e.g. a fitness influencer, who’s core following will predominantly consist of fitness enthusiasts, should not then decide to launch a homeware business targeting these followers.
The biggest mistake we’ve noticed at Genflow, are influencers launching products that have very little relation to their own content and personal brand. The product that an influencer launches must resonate with the content they create, so, if you are a successful fitness influencer, launching a fitness platform, apparel or accessories would make the most sense.
That being said, while an influencer's main output is fitness content, perhaps they also have a passion for interior design, which their followers have taken an interest in and regularly engage with. There is then the possibility that an influencer has discovered a sub-audience within their following. This specific audience would be interested in the fitness influencer launching a homeware collection, while it is not their main output, they have evidenced an authentic interest in something, which in turn their following have made a genuine connection.
So, influencers have to think about what they really want to release and whether this business will resonate with their audience. Having an audience does not always lead to sales, the products must truly align with the individual.
Once an authentic concept has been established, a launch plan must be put in place. Even a mega-influencer will struggle to sell a product without any launch strategy, how are you going to take this idea and successfully bring it to market? A pre and post-launch strategy is integral in whether the business sinks or swims. This strategy should realistically be in place up to 2 months before launch, in order to tease the target audience and plant that seed in their minds along with gaging interest… Do my audience care?
On launch day the most effective way an influencer can tell their audience about this new business venture is to simply, tell them. While a highly produced launch video may seem more appealing, an influencer sitting down and speaking directly to their following is the best way to get across the following:
- What is the business
- Why are you launching it
- Cost of the product
- Where will it be available
- Where is it made
- What each product is
Many businesses will avoid answering the above right away, opting to appear more mysterious, leaving their audience asking questions, and in some cases this can be effective. What Genflow have observed as leaders in building and launching brands for influencers, is that providing a high level of transparency from the beginning, explaining exactly what, why, where, who and how, will allow the audience to make a decision immediately about whether they want to purchase while it’s fresh in the minds.
Maintaining that buzz on launch day is even more crucial. Influencers who show the social proof of the sales in real time or increase in website traffic on instagram stories, will gage more interest from prospective customers who were originally on the fence.
It is important to keep up that original momentum post-launch, and there are a variety of ways to achieve this. From posting about the business regularly across all social platforms, providing evidence of sales, designing competitions and giveaways, along with gifting the product to other influencers / celebrities in order to reach a wider audience. With 49% of consumers depending on influencer recommendations for purchasing decisions, seeing their favourite influencer wearing your product, will more likely lead to a sale.
While there is no one size fits all, each business is unique and calls for a slightly different strategy, but after launching a high volume of successful brands for our clients, we at Genflow believe we have found the secret sauce… although to know our key ingredient to success, you’ll have to partner with us.