THE ULTIMATE GUIDE TO INFLUENCER MARKETING (Part 2)
As a $5 to $10 billion industry in the year 2020, influencer marketing offers a lot of value depending on how you use the channel and the media. While 76% of marketers say that they have difficulties measuring their ROI after campaigns, some others say they have 11 times the ROI.
In my last article, we focused on the Introduction to Influencer Marketing, and how to approach influencer marketing as a brand for optimum results.
Today, in this article, a summary of CXL Institute’s Influencer Marketing training with Siim, we are going to look at how to identify/ choose the right influencers to match your brand or business's overall message.
One thing to take note of is that in marketing, we look at a three-dimensional graph looking at earned, paid, and owned.
Paid media includes any form of marketing that you pay for. It could be PPC (pay-per-click), display, retargeting, or all sorts of things like that. Owned media, on the other hand, includes all the channels that you technically can control to a certain extent. Think of your website, your mobile app, blog, and your social media channels, to a certain extent, all of those are like your own properties. And then earned media is anywhere where you have other people speaking on your behalf, and a lot of people refer to this as the Holy Grail.
According to the IPA which has an enormous amount of data on past campaigns, says that if all of these things work in conjunction, then you are going to see the biggest business effects that are possible. However, if earned works in isolation, meaning that everything is organic, then that has a very limited effect. Also, if paid works in isolation, it has a limited effect. So, if owned works in isolation, it will also have a limited effect.
Now that we all know that organic reach is pretty much dead, chances are that 95% of your friends and followers will not see nor be able to engage with any of the content that you put out there organically. This goes further to prove that if you want to get great outcomes, it is an orchestration of all channels, not just one thing.
HOW TO CHOOSE INFLUENCERS THAT FIT YOUR BRAND FIT
There are five guiding questions for you to answer when considering influencers in terms of synergy and brand fit, and to also see if some of the influencers should be prioritized higher or lower.
Here are the five guiding questions;
- What does my brand stand for on social? Here, you need to ask what is the role of social for your brand? And specifically, what does it mean for your company?
This is very important, and if you don’t know what that is, then it is very likely that the influencers will do the job for you, and it might be all over the place. And before you know it, you might be criticizing them for doing that, if you haven’t given them almost like a north star, saying this is what our brand is in social, and this is how it works.
- How creative is the influencer’s content? This is very, very important to ask. Earlier, we spoke about the science of influence, and there’s a big part of this which is about how good the influencer is in creating content, and especially comparing that with an advertised or a branded post versus a general post. So, there, you could potentially see how good the person is, in terms of taking a brief in and making it sound as if it’s an authentic story for their audience from a brand, right? So, that’s a real challenge. And we know that even the biggest agencies in the world are struggling with that, and certainly, there’s a lot of influencers who are struggling with that. So, it’s a good thing to look at that.
- Has the influencer worked with my competitors? Sometimes this is a red line, sometimes it isn’t. However, it is always good to ask that to see if that is present in the data. Sometimes, if the tools don’t provide you that, then you’re going to need to go through the stream yourself or ask your analyst or agencies to do that.
- What is the tone of voice and style? So, if everything is done correctly, but the tone of voice is too different from what your brand is used to, then it raises a question of whether that influencer is the right choice/fit or not. Some influencers may be talented, but still, be a wrong fit for your brand. Choosing highly opinionated individuals may seem nice, but for a brand campaign, it might just be too slippery of a slope. It might also be too unsafe or too risky.
- What is the content format? Note that putting up an Instagram story or a post is significantly easier than putting together a YouTube video or a TikTok content format, which is also very different than Instagram or YouTube.
So, one thing you need to ask yourself, what is the content that is ideally required for the campaign, or what seems to fit that sort of context?
If it is still images that you are after, then probably an Instagrammer will do fine. But, If you are expecting a higher level of creativity, then by default you should gravitate towards either someone in the video sphere, as in YouTube, get an active YouTuber, an ex-Vine profile, or maybe someone from the TikTok community.
So, that’s all there is to the guiding questions, you can now go back to your list and see whether it needs prioritizing higher or some profiles, or the other way around. Ideally, in the initial stages, you should have a list that is three to four times bigger than you would ideally accommodate for. So, if you can accommodate a 50-influencer campaign, then you should have 100 on your list.