Many brands achieved spectacular growth by leveraging influencer marketing in the past two years. Want in?
Social influencers may be hard to find and difficult to manage. Influencer talent management represents a powerful, sustainable and self-scalable marketing asset. Want to know more about influencer talent management?
Read on to find out how companies find, contact and recruit social media influencers today!
Influencer Marketing 101
According to Google Trends, influencer marketing will be a $5-10 billion dollar market in the next 5 years. But what’s exactly going on with this?
Simply put, influencer marketing is marketing with a focus on influential people. It aims to reach potential buyers through the popularity of those influencers on social media. Influencer marketing is positioned around the online activities of influencers.
The power of social media influence has seen many brands rise literally overnight. They achieved that through video advertising. There, influencers assume the role of potential buyer or actively endorse certain products.
Influencer Marketing Applications and Benefits
There are many direct and indirect benefits of influencer marketing. Today, more and more online marketing channels are affected by the rising popularity of ad blocking. Moreover, conventional channels, including TV and cable, are slowing down as people spend less time in front of a television. Some indeed don’t even own one!
Many people depend solely on social media channels and other online routes for their everyday dose of media. That’s where influencers come in. Some marketers use influencers to build consumer trust, others to raise awareness and increase social reach.
Influencer marketing is also powerful in driving online or in-store sales. There, influencers actively try and review products in youtube videos and social media.
Measuring the Value of Influencer Marketing
Influencer marketing is diverse and hard to quantify. Some marketers measure its efficiency via Earned Media Value (EMV), others track CPA returns. Others track impressions or raw traffic.
Influencer marketing can add value through enhancing social reach, producing original and engaging content, or building consumer trust.
This measures how many new and existing consumers the influencer can reach reliably through social media, websites and blogs. Influencers communicate daily with their audience and other influencers to enhance their reach.
Most influencers continuously produce original content with the potential to go viral. This content has the potential to be branded and work as indirect advertising as influencers monetize their content.
Perhaps the most important value is trust. Influencers work on building strong, enduring relationships with their audience. They aim to be trustworthy, as their audience needs to trust their opinions.
The Value of Influencer Talent Management
Most influencers are not professional marketers. They are people who for some reason have earned online popularity. Popularity is measured in likes, shares and subscribers. It’s also measured by how many sales they secure through their activities as marketing influencers.
Influencers are often volatile and fickle, and marketers need to be decisive and clever in how they manage influencer relations
There’s no “influencer ID” and what makes an influencer is still a matter of debate. Simply put, there is no clear distinction between a popular user and an influencer, and some influencers may be hiding in plain sight.
Influencer identification is talent identification on steroids. Many companies will find the task of identifying talent from among millions of users simply impossible. That’s where professional influencer providers come in.
Influencer Segmentation and Training
Yes, an influencer may be the definite authority in his/her niche. This doesn’t mean they are experts in any other subject. Simply put, no influencer can influence everyone. For example, your favorite authority on science videos has no power over an audience who follows fashion trends. Similarly, an Instagram supermodel won’t be that effective in marketing tech products.
The power of influencer marketing lies in authority and laser-targeted messaging. That’s why it is important to clearly identify the strong points of an influencer, as well as the audience they speak to.
Marketers rely on the influencer’s popularity with that audience to target their offerings. A poorly targeted influencer marketing campaign is not only useless; it can also be dangerous as well!
As we mentioned earlier, influencers are no professional marketers. So, they might need training in order to effectively promote products and services through their social media pages and blogs. Thankfully, most influencers are well-versed in online content management platforms. Still, most will require at least a primer on business and marketing, (unless they are influencers in these areas!)
Influencer Retention and Communication
Influencers may be in some form of non-exclusive contract with one or more marketing firm. They are essentially freelancers with very low retention rates. Many influencers are millennials, which creates a communication gap between them and ‘conventional’ marketeers.
In order to avoid huge replacement costs, agencies and big companies employ a range of influencer talent management strategies. These include: dynamic feedback, performance-based salaries, flexible hours, and various training and mentorship programs.
Influencer Relation Synergies
Perhaps the most important aspect of influencer talent management is the social aspect. No influencer is ever truly alone. Social media is all about connecting, and influencers actively seek out and connect with other influencers.
This has TREMENDOUS marketing power. For example, influencers can share product recommendations with each other to reach broader audiences!
Harnessing the Power of Influencer Marketing
It’s not easy to identify, recruit and activate the world’s most engaging social influencers. Thankfully, there exist reputable firms specializing in Influencer marketing resources for brands and agencies.
By partnering with an influencer resources firm, you are effectively gaining access to THOUSANDS of influencers. These influencers can reach audiences your conventional marketing could never target. It’s easy, scalable and brutally effective!
Ready to leverage the power of influencer for your company? Contact Grin today and find out how influencer marketing can take your brand to the next level!