Influencer
marketing is a powerful tool for brands, but too often companies neglect a key
component: good relationship management.
For brands and businesses across numerous industries, gaining a
foothold in social media increasingly means building campaigns around
influencers. These are people who have engaged followings and know how to use
that engagement to encourage followers to try certain brands. As Adweek puts
it, “influencer marketing has become an essential aspect of most
companies’ marketing programs.”
In fact, 86% of people surveyed for a 2019 benchmark report (including brand
managers and people at marketing agencies) said they planned to spend marketing
dollars on influencers this year. Also, 63% of businesses that have dedicated
budgets specifically for influencer marketing plan to increase their budget
over the next year. Some experts predict the influencer marketing industry will
reach $10 billion by 2020 — and $2.38 billion
will be spent on Instagram alone this year.
It’s clear why. Statistics compiled by the Digital Marketing Institute show that the
majority of teenagers trust influencers more than traditional celebrities, and
40% of consumers have purchased a product directly after seeing it in an
influencer marketing campaign on Instagram, YouTube, or Twitter. Taken together
with the fact that estimates show on average businesses generate $6.50 in revenue for
each $1 investment in influencer marketing, it’s easy to see how it is quickly
becoming one of the most widely adopted customer acquisition methods for
marketers.
I regularly speak with brands about how to do influencer
marketing most effectively. The answer boils down largely to management — and
it’s where much of the industry is unprepared and has gone wrong for years.
Social media wasn’t developed for marketing, but it has become
such an important way of reaching customers and audience that marketers have
faced something of a Wild West scenario when trying to leverage social media in
new ways. Often, influencer programs started with marketers simply asking
people with large followings to push their products in tweets and Facebook posts,
and hoping for the best. And because young people have often been savvier with
social media, many marketing leaders put younger, less experienced workers in
charge of coordinating with influencers.
This means that, all too often, the people dealing with
influencers have much less experience managing people, and as a result, the
brand fails to build strong relationships with the influencers.
In order to better manage influencer relationships, here are
practical steps your organization can take.
Do Your Homework
Successful influencer marketing is not about finding just anyone
who is “Twitter famous.” It begins with finding the right person —
someone whose audience, capacity for storytelling, and personal brand align
with the marketing campaign and messaging.
While conventional wisdom might hold that “bigger is better”
when it comes to a social media following, in practice, “microinfluencers” —
those with a follower range from 10,000 to 50,000 — can often have a greater impact when they’re selected for
the right campaigns. They’re more likely to engage with followers and to have
an audience specifically interested in topics and products they choose to
highlight.
When you reach out to the right influencers, explain why you
wanted them specifically. Show that you’ve taken the time to understand and
consider what they’re all about. This starts off the relationship on the right
foot.
Allow Creative Freedom
Social media influencers are not like actors hired to be
spokespeople in ads. Influencers have impact because they produce authentic,
engaging content. If they post parroted talking points about a product, they
lose the authenticity that their followers count on. So it’s important to let
them develop content that tells a story for their audience in their voice while highlighting
your brand.
Putting too many restrictions in the content development process
can hurt the influencer and brand relationship. Nearly 40% of influencers cite “overly
restrictive content guidelines” as “one of the biggest mistakes brands and
agencies make” in working with them, according to GDS Insights.
If your brand requires strict adherence to very specific
messaging, it may be better to look for other internal or external campaign
solutions, rather than influencers.
Keep Things Simple
Despite appearances that social media influencers may spend all
their time having fun with friends, exercising, and enjoying nice things, the
position requires hard work to be successful. To put together a living, most
influencers have multiple clients — in fact, showed
that 46% had seven or more clients in the last 12 months. To maintain their
audiences, most are constantly working to churn out engaging, meaningful
content in varying formats and styles.
Like any freelance or contracted worker, the last thing they
need is added friction and bureaucratic hassle when partnering with a new
company. Making partnerships with them as smooth as possible — and ensuring
they get paid promptly within deadlines — can make a huge difference.
Above all, keep in mind that influencers are human beings. When
you delve into influencer marketing, you aren’t just buying your company space
on a popular social feed. You’re creating an interpersonal connection with
someone who has worked hard to build a community. When you honor that in the
way you manage these relationships, you’re more likely to see big success.
Comments
Post a Comment