Navigating The Waters Of Influencer Marketing — What We’ve Learned From Working With Influencers
As the demand for Influencer Marketing grows, so does the need for knowing how to navigate the waters of working with influencers.
Every industry, from manufacturing and retail to home services, can benefit from establishing a relationship with influencers. That, assuming there is a plan with clear objectives in place.
Influencers are, in short, popular individuals with a fair number of followers and who wield some influence on a specific market segment — more on what “fair number of followers” means later on.
The benefits of partnering with an influencer as part of a marketing campaign have been known in the advertising industry for years.
It is a widespread practice with enthusiasts and detractors.
Marketing teams are allocating more of their budgets to influencer marketing. According to a study cited in The Influencer Marketing Trends That Will Explode In 2019 (Forbes), 39% of marketers plan(ned) to increase their influencer marketing budget in 2018. Now, did they?
Based on The State of Influencer Marketing 2019: Benchmark Report, the answer is YES. Their numbers show influencer marketing grew from a $1.7 billion industry in 2016 to a $4.6 billion in 2018, and it is expected to continue to grow in 2019.
Swimming In A Public Pool
Diving into the waters of influencers is like swimming in a public pool.
You find serious swimmers practicing to perfect their stroke and novices holding onto the rail not knowing what to do next.
Oh, and there is always someone on a flamboyant flamingo floater.
Influencer Marketing is not new but is far from being a mature industry. Which means not everyone plays by the same set of rules. In fact, trying to find some guidelines around it is difficult.
Let’s take a look at fees, as an example.
Prices are all over the place, and they are not based on a single formula.
We encountered micro-influencers charging more than influencers with larger follower counts and higher engagement rates.
The services they offer also differ from one to another. Some offer different “packages” that include various services (blog post, social posts, etc.) for one set fee while others offer one service with add-ons each priced individually.
To put it in numbers, a blog post by an influencer with 8k to 20k Instagram followers can cost you anywhere between 500 to 1500 Canadian dollars. That is without social posts, which can double the price depending on quantity and platform.
Prices do not necessarily reflect a standard of quality. It all comes down to what you need and what the partnership will bring to your brand.
You might want to practice swimming with an expert, hang out with a novice in shallow waters or grab the flamingo by the neck and jump right on it.
It all depends on your needs and the objectives of your campaign.
Not Everyone Is An Expert Swimmer — But Everyone Can Enjoy The Pool
Let’s go back to that statement above:
Influencers are, in short, popular individuals with a fair number of followers and who wield some influence on a specific market segment.
What “fair number of followers” means is that follower count is relative and is not synonyms with success.
Risking sounding like a broken record, it all depends on your objectives and your brand.
In our case, we do not let the number of followers be the only deciding factor when choosing an influencer we want to work with.
Some micro-influencers will bring you better ROI than influencers with a larger follower count. The most important thing is that you effectively reach your niche.
So remember, larger numbers does not necessarily mean better results.
Communication — Read The Signs
Clear communication is key. In the beginning, in the middle and the end.
It was surprising to find out that many influencers are not particularly good at responding to a business query in a timely manner. Response time varies between one day to two weeks, with some not returning emails at all.
If you contact a potential partner (a.k.a. influencer) with a serious proposal and you do not hear from them after a day or two, take it as a sign!
A sign to keep your distance.
Not responding to serious business queries is probably not the soundest business strategy.
However, each entrepreneur runs their business the way they consider appropriate.
It is up to you to see if establishing a relationship with someone who does not have time to send a “thank you, but no, thank you” email is worth pursuing.
Like any relationship, the beginning is the enchanting stage. If that early on the game, you are losing confidence, and not getting answers, it is better to step away.
No hard feelings, just a “no further contact” note on their file will do.
There are plenty of fish in the water, so find the one that best suits your brand.
But how?
Snorkelling! — Discover What’s Below The Surface
Which in our case means doing the necessary research.
When considering partnering with an influencer, some factors to consider are:
- The type of content they create, specifically their blog posts and social posts (text, video, etc.) Look at what they talk about, the language their use, their tone, style, length of pots and videos, the imagery they use.
- Their audience. Find someone whose audience is similar to yours, or who is an expert on a subject that is of interest to your target market.
- Their location. Because a great influencer in Algoma, Wisconsin might not be the best for your Toronto bakery. Find someone who is located in or near the areas you serve.
- That their values align with your brand and fit those of your target audience.
- The type of products and services they have worked with in the past. Are those brands similar to yours in terms of their values and audiences?
- Their relationships with past partners, how they present other products, how they talk about them.
Learn from history. If your potential partner has posts that do not align with your brand in terms of values, tone, or if you find one post that makes you uncomfortable, it is better to reconsider initiating a partnership.
Testing the Waters
Doing a monumental cannonball jump seems like a great idea; until you discover the water is frozen. After you have jumped. Do you remember the video?
The clue was the still water.
Influencer marketing requires brands to look at potential partners in terms of followers, and engagement rate. Sure.
However, it is also important to see if they are active. Make sure the waters are moving before we jump in.
Look at their social media accounts in terms of activity. Are they active? How often do they post? Do they respond to comments? The answers to all those questions will give you an idea of the kind of exposure your branded content will get.
The algorithms like to see people being actively posting, liking, commenting and responding. They reward accounts that are active and users who engage with their followers. Choose an influencer that is active, and you will be increasing your chances of showing on your audience feed.
Final Lap
Let’s recap with the following list of things to consider when selecting the right influencer for your campaign:
- There is no one set of rules to follow. Prices vary. And there is no standard of quality. It is up to you to research and find the type of influencer that will be more beneficial to your brand.
- Larger numbers do not mean better results. Some micro-influencers can provide you with a better ROI. Consider all options.
- Communication is crucial. Open and clear communication can help you avoid potential issues when embarking on a partnership with an influencer.
- Your research should go beyond the number of followers and engagement rate. Consider factors like their values, audience, content, location, etc.
- Choose an influencer that actively posts, comments and responds. The algorithms like it!
Also, because it has not been mentioned before (wink*), it all depends on the campaign objectives and your brand.
