WHAT IS INFLUENCER MARKETING?
It’s one of the biggest buzz phrases right now in business, especially for those people in the B to C marketing. To have your product being used by the likes of Zoella, KSI, Jake Paul, Casey Neistat and many many others can give your brand the positive uplift it may well need, BUT, it doesn’t come cheap. So how can you be sure you’re using the right influencers for your brand?
WHAT’S THE RETURN ON INVESTMENT?
During a time where everyone wants to be an influencer, and so many people seem to have a great number of followers and subscribers, it’s becoming increasingly difficult for brands and businesses to understand who the best influencer is for them to work with, and more importantly, if that influencer will bring the results in they need to warrant the high price tag. Working with some influencers can cost a brand in excess of 6 figures, so you certainly want to see a return for that type of price tag. However, we also sadly live in an age where people are capable of buying an audience, or at least as I’ve previously discussed, buying vanity metrics, so their numbers look good i.e. 17k followers on twitter, but when they put out content the activity on the content is low, or nothing at all. This is where the ball is in your side of the court. As a brand, as a business, it’s up to you to not get seduced by someone having 1,000,000 subscribers and take a further look into the analytics.
I’ve spoken about this a lot at live events, and I’d much rather a brand looks to build a small group of raving fans than a large group of none active nobodies, and you need to look at this when looking at influencers. What would be the point in dropping £5000 on a photographic posting from someone because they have 90,000 followers if their average interaction rate is in the region of 100 people on their content? You can be sure 99% certain 89,900 people probably won’t see your photo because the way the algorithms work means your paid piece of content will get dropped down the feed, as it will see the influencer as someone making content that’s not relevant to anyway.
This is the same for all formats of social media, you need to understand the influencers market as much as you understand your own, and know exactly what you want to get out of it. For example, numbers again come in to play a lot on YouTube, but, if someone has an average view duration of 20% that means there’s a chance people might not even get to the stage in the video where your product is being spoken about, or more importantly get to the call to action, so you need to set rules in place, such as, please speak about the product in the first 60 seconds etc. etc. so you can be sure your brand name is there at least.
I spoke recently to Sonny Tee owner of Sumo Growth an influencer agency who specialise in working with more micro influencers, and this seems to be an excellent option for brands who have a budget but want to be more targeted with their content and influencer campaigns. Keep your ears open for the podcast going live this coming Friday (3rd August 2018).
So when it comes to influencer marketing, it’s wise as a brand and business to do your research, ignore those vanity metrics shown on the profile and dig a bit deeper to find out if the person you’re going to work with is going to bring value to their audience with your brand and vice versa.
If you want to chat more about building your brand for FREE or for very little, I’d love to chat, I’m free for Skype calls once a month or you can always get me on my email email@example.com