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Advertiser's Crash Course in Influencer Marketing

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This presentation is from Affiliate Summit West 2017 (January 15-17, 2017 in Las Vegas, Nevada). Session description: Learn to leverage the power of influencers! We will cover an array of key areas: from types of influencers and payment models to their onboarding, activating, and measuring results. Q&A time at the end.

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Advertiser's Crash Course in Influencer Marketing

  1. 1. Geno Prussakov CEO, AM Navigator (marketing management agency) Chair, Influencer Marketing Days (conference) 888-588-8866 | Washington, DC www.amnavigator.com geno@amnavigator.com Advertiser’s Crash Course in Influencer Marketing
  2. 2. Introduction
  3. 3. “Breakout Term” Source: Google Trends
  4. 4. Mass Media Storm
  5. 5. Mass Media Storm
  6. 6. Facts & Stats Blog.Tomoson.com March 2015 Influencer Marketing Study
  7. 7. Facts & Stats Blog.Tomoson.com March 2015 Influencer Marketing Study
  8. 8. “We've actively decided not to get involved in influencer marketing.” 0%
  9. 9. Facts & Stats
  10. 10. Facts & Stats ROI vs. EMV
  11. 11. ROI (Return on Investment) “measures the amount of return on an investment relative to the investment’s cost.” Investopedia.com
  12. 12. Source: TapInfluence.com/ROI Facts & Stats
  13. 13. “Sales directly attributable to the positive (online) word of mouth” surrounding the iPhone’s launch “outstripped those attributable to Apple's (own) paid marketing sixfold.” A new way to measure word-of-mouth marketing McKinsey.com McKinsey Quarterly – April 2010
  14. 14. Facts & Stats Source: TapInfluence.com/ROI
  15. 15. “EMV (Earned Media Value) – the dollar value that can be attributed to publicity, social sharing, and endorsement, and other unpaid digital media exposure.” RhythmOne.com
  16. 16. Facts & Stats Source: RhythmOne 2015 Influencer Marketing Benchmarks Report
  17. 17. Outline • Introduction • Types of Influencers • Identification & Onboarding • Influencer Activation • Measurement • Conclusion
  18. 18. Types of Influencers
  19. 19. Type #1 Macro-Influencers
  20. 20. Case Study 1 + 25% MoM
  21. 21. Case Study 2 + 16%
  22. 22. Macro-Influencers o Musicians o Actors o Professional athletes o Business leaders o “Platform sensations” “… have developed an elevated status” (on specific social media platforms) by building a hyper-engaged audience, one that brands may want to reach through them.” RhythmOne.com
  23. 23. Evaluate based on your primary goals. What are you trying to achieve?
  24. 24. Reach (vs. Engagement) Instagram Marketing: Does Influencer Size Matter? Markerly.com, April 2016
  25. 25. Type #2 Micro-Influencers
  26. 26. The reason:
  27. 27. Characteristics of Micro-Influencers • Non-celebrity • Expertise • Passion • Fewer than 100k followers • High rate of engagement • Capacity to motivate (action)
  28. 28. Engagement / Followers
  29. 29. Definition Micro-influencer – a non-celebrity individual who influences a relatively small but highly-engaged follower base.
  30. 30. Examples • Instagram reviewer • Kayak fishing fan on YouTube • Photographer blogger • Thought leader / “Brandvidual”
  31. 31. Brandvidual a) Focused on developing their personal brand b) Creates content based on intelligence, experimentation, observation
  32. 32. Advantages  Deep audience engagement  Better approachability  Lower costs  Long-term relationships potential  Better flexibility  High conversion potential
  33. 33. “For $25,000, you can activate several micro-influencers within your chosen verticals and get in front of roughly 5 million combined followers. That same amount will barely get you in the door with a celebrity.” Why You Should Think ‘Micro’ When Planning Your Next Influencer Campaign Sarah Ware, TheHuffingtonPost.com, April 15, 2016
  34. 34. Type #3 Brand Advocates
  35. 35. 83% of consumers trust recommendations from people they know above all other forms of advertising. Global Trust in Advertising 2015 report by Nielsen
  36. 36. Definition Brand advocates “are a different breed of consumers” – they are happy to “evangelize their favorite brands and products.” And they do it “without cash or coupons, payments or perks.” Brand Advocates: Turning Enthusiastic Customers into a Powerful Marketing Force by Rob Fuggetta
  37. 37. Characteristics of Brand Advocates  Product fans  Happy to tell others  Do not require incentives
  38. 38. 5 Techniques to Identify Advocates I. Ask “The Ultimate Question”
  39. 39. 5 Techniques to Identify Advocates I. Ask “The Ultimate Question” II. Contact repeat customers III. Employ social listening IV. Monitor online reviews V. Turn to fans and followers
  40. 40. 3 Ways to Support Advocates I. Advocate Communities
  41. 41. 3 Ways to Support Advocates I. Advocate Communities II. Inside Information
  42. 42. 3 Ways to Support Advocates I. Advocate Communities II. Inside Information III. Spotlighting Them
  43. 43. Advocacy is always: a) strategic/ongoing b) earned
  44. 44. Identification and Onboarding
  45. 45. Principles of Identification
  46. 46. Key Criteria i. Audience Resonance ii. Audience Engagement iii. Lack of Brand Contradiction
  47. 47. The Influence Formula Reach × Brand Affinity × Relationship with Followers ____________________________________________ INFLUENCE The Explosive Growth Of Influencer Marketing And What It Means For You Kyle Wong Forbes.com, September 10, 2014
  48. 48. Influencers’ Role in the Marketing Funnel Razorfish Social Media Influence Marketing Report, 2009
  49. 49. • shorten the sales cycle • amplify other marketing
  50. 50. Tools to Consider
  51. 51. tracking
  52. 52. 2 archetypes databasesinfluencer networks
  53. 53. Influencer Databases
  54. 54. Definition Influencer databases are structured sets of data regarding publishers of digital content.
  55. 55. Influencer Databases  Platform-specific  Holistic (cross-platform)
  56. 56. Influencer Databases (Examples)  Little Bird (for Twitter)  Inkybee (bloggers and Twitter)  GroupHigh (bloggers and their social imprint)
  57. 57. Influencer Networks
  58. 58. Definition Influencer networks are networks of opted-in influencers, who have been vetted by the network.
  59. 59. Common Functionalities
  60. 60. Influencer Networks (Examples)  Whalar (for Instagram)  Grapevine (for YouTube and Instagram)  BlogMint (bloggers)  FameBit* (cross-platform)  TapInfluence (cross-platform) * Acquired by Google on October 11, 2016
  61. 61. Influencer Networks …can be vertical-specific  Health & Wellness (e.g. Wellness Amplified)  Fashion & Lifestyle (e.g. Shopping Links)  Travel (e.g. iAmbassador)  Outdoors (e.g. GravityFed)
  62. 62. Conclusion
  63. 63. Influencer Activation
  64. 64. Principles of Activation
  65. 65. 3 Facets I. Definition (of activation) II. Setting incentives in place III. Consistency
  66. 66. I. Define Activation Examples: • Mention on social media • Review within content • Traffic referral • Conversion(s)
  67. 67. II. Set Suitable Incentives TransactionalRelational
  68. 68. 1.Transactional Incentives Examples: • Cash payment • Free product • Recurring payments tied to consumer actions
  69. 69. 2. Relational Incentives Examples: • VIP Treatment • Event invite • Sneak peek • New product trial
  70. 70. III. Stay Consistent
  71. 71. Conclusion (We must have) a clear, unbiased understanding of the situation at hand, deep insights into the vagaries of human nature, the establishment of appropriate and reasonable expectations and goals, and the constructions of a balanced set of incentives. Bronwyn Fryer, “Moving Mountains” (Harvard Business Review on Motivating People, 2003)
  72. 72. III. Stay Consistent 1. Start with the truth 2. Appeal to greatness 3. Make them proud 4. Provide constant and consistent communication channel 5. Build trust 6. Care for the little guy 7. Set different incentive levels Bronwyn Fryer, “Moving Mountains” (Harvard Business Review on Motivating People, 2003)
  73. 73. Activation in Action
  74. 74. 3 Phases I. Pre-activation II. Activation III. Post-activation
  75. 75. I. Pre-Activation
  76. 76. I. Pre-Activation Source: GroupHigh Compensating Influencers While Maintaining Trust, 2015
  77. 77. Consider: Influencer type Relationship with brand
  78. 78. II. Activation i. Back them up ii. Equip them
  79. 79. Equip with… o Customer demographics o Content about product o Lists of bestsellers o Keywords o Testimonials o Videos
  80. 80. III. Post-Activation Support them via: • Social media • Guest blog posts • Feature them in your own marketing
  81. 81. The majority of influencers are motivated when brands help them boost their image and grow their audience. It’s a “win-win” situation!
  82. 82. Measuring Influencer Marketing
  83. 83. “Measurement is the first step to control & improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.” — H. James Harrington
  84. 84. Measurement Problem?
  85. 85. …or blurry goals?
  86. 86. Customer Journey (AIDA) Awareness Interest Desire Action
  87. 87. Marketing Funnel Awareness Consideration Action
  88. 88. Awareness KPIs  Views/Reach  New followers  Re-posts  Likes  Traffic  New links
  89. 89. Consideration KPIs  Views of specific pages  Email submissions  Free trial/demo request  Items in cart  Searches  Comments  Social sharing  Newsletter sign-ups
  90. 90. Action KPIs  Revenue  ROI  Conversion  New v. Returning  Average Order Value  Lifetime Customer Value
  91. 91. In Conclusion…
  92. 92. Thank You! Q&A Time

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