Influencer Marketing is everywhere, and it is becoming widely acknowledged that influencer marketing can do a lot for businesses if it is done right.
At Rock the Blog 2017, Beate Kornfeld and Michael Tobehn from the TBWA Deutschland Holding GmbH, aka “The Disruption Company”, dedicated their talk to a disruptive approach when using influencer marketing.
Due to a lack of experience in the fairly new field of influencer marketing and not enough set responsibilities, the high potential of influencer marketing is not being used to it’s full potential. This means influencer marketing budgets are not used sustainably and disappear in the big cosmos of social media and influencer marketing. To take a disruptive point of view, we firstly need to evaluate the current common practices of influencer marketing: How is influencer marketing currently done?
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We only work with big influencers – How influencer marketing does not work
Many companies claim that they only want to work with the big influencer stars that have hundreds of thousands of followers to maximize their return. In fact, only 13% of these influencers earn more than 1.000 € per Month. 78% of bloggers regard themselves as hobby bloggers.* This means that the majority of the influencers are smaller and less professional bloggers and influencers.
The advantage of working with smaller bloggers is less competition, as the big influencers work with a lot of different brands. Campaigns with smaller bloggers will, therefore, draw more attention to your product. Moreover, TBWA has found out that most collaborations are one-time and therefore most influencers tend to promote a lot of different brands in a short period of time. In their talk, TBWA had a look at some Instagram accounts of the big players on social media and marked all branded posts in a feed. The result was shocking: many feeds of successful instagramers contained more than 50% of branded content. Some even worked with direct competitors in a short time frame.
Influencer Marketing 2017: Missing your target
It can often happen that influencers are seen as a “converter” of a business’ marketing strategy. However, a survey by Altimeter shows that the goals of influencer marketing are very different. According to this study, the main goals of influencer marketing are improving brand advocacy, expanding brand awareness, reaching new target audiences and strengthening the voice of a brand. How influencer marketing should be done depends a lot on your communication objectives.
New conventions for your influencer marketing strategy: What if…
The intentional targets of influencer marketing are missed in a lot of campaigns. This does neither meet the company’s needs nor the influencer’s goals. The current conventions and common practices of influencer marketing have to be rethought for 2017.
How to find the right influencer for your influencer marketing campaign
First of all, the communication objective of the campaign has to be set. Once this is determined, the search for the right influencers can start. The relevance of the target audience for your objectives is crucial. You need a more holistic approach than just looking at pure numbers of followers. Engagement is a very important marker that needs to be observed. An influencer that has a close relationship to their followers has more credibility and has earned more trust. The closeness of an influencer with their followers is one of the most important aspects when choosing an influencer to work with.
Develop long-term partnerships with influencers
Long-term partnerships can be rewarding when it comes to influencer marketing. They should not just be seen as distributors of the advertisement, but as a partners on the same level as the brand. Influencer marketing is especially valuable with influencers that are convinced about your product already, and therefore, your product is visible several times on an influencer’s channel. A good relationship based on trust between an influencer and the brand will be rewarding for both sides.
Even though most marketers think in three-month cycles, this doesn’t work for influencer relations. Most bloggers want to plan long-term who they will to work with. According to Michael Tobehn, thinking from campaign to campaign does not go to together with successful blogger relations.
Understand current trends and topics: Influencers as trendsetters
Influencers should be seen as communicators and representatives of the currents trends and topics. They know what is going on in the scene and can act a lot faster than the marketing department of the big companies. Their feedback is also very valuable – having good communications with your influencers can be very rewarding.
When doing an influencer marketing campaign, you should trust the influencer. They know what their audience likes and what the trending topics are. With influencers by your side, you have the possibility to react quickly to upcoming trends in your target group.
When done right, influencer marketing can be very rewarding. An equal relationship based on trust between an influencer and a business is a sure way to reach your communication objectives.
*blogfoster blogger survey 2017