Influencer: do or don’t?

source: https://www.kaushik.net/avinash/

Let’s start with the punchline.

If you have spent to the point of diminishing margins of return and extracted the full profitable opportunity from every other marketing activity and you still have some money left, then and only then should you consider Influencer Marketing.

If your email marketing budget could use another $50k, give it to the email team instead of the Influencer effort.

If another $120k means your video marketing on Hulu could reach desired audience psychographics, give that money to your video team instead of your Influencer effort.

If your search team can use Smart Targeting to reach another 10k relevant users, give the Bing Paid Search team the $200k Influencer budget.

If you can spend your last $45k on a cheesy self-made TV commercial to sell your used cars on remnant late night Cable TV ads, spend it there instead of spending it on Influencer Marketing.

If your—well, you catch my drift.

Of all the faith-based marketing we do, few are as obviously non-accountable as Influencer Marketing. Just about the only thing you can account for is that the Influencer got something valuable.

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Influencer stats 2019


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“About two-thirds (65%) of multinational brands plan to increase their spending on influencer marketing over the next 12 months, but they will do so only where standards on transparency are met, a new global report has found.

The research found that 68% of brands and their chosen influencers currently disclose their relationship via hashtags, while other methods include descriptions in the post or video (63%), a verbal mention (50%) or paid partnership labels (43%).

And all participants in the WFA survey said they used Instagram for influencer marketing, with Facebook and YouTube used by 85% and 67% respectively, while Snapchat (44%) and Twitter (33%) proved to be less popular platforms. Only 19% used WeChat and Pinterest.”

 

Patagonia on purpose

“The company’s three-strand mission statement – to build the best product, cause no unnecessary harm and use business to inspire and implement solutions to the environmental crisis – informs every aspect of the marketing strategy.”

“Weller explains that marketing within Patagonia is focused on “building a movement” based on the values it shares with its communities, a connection that cannot be achieved through traditional above-the-line advertising.

“It’s community building and we’re very much focused on doing that socially online, physically in the real world and we invest as little as we can in paying to talk about what we do and who we are,” he adds.”

“You can’t reverse into a mission and values through marketing. The organisations that are struggling with this are probably the ones that are thinking about marketing first.”

Patagonia on why brands ‘can’t reverse into purpose’ through marketing

Patagonia_ You can’t reverse into purpose through marketing

 

Gen Z leaves social

#genZ quits #social: “Largely because of the effect social media has on their mental health. The study states that sixty-four percent of Generation Z is taking a break from at least one social media platform, while thirty-four percent is leaving permanently.”

 

Personal branding on social

The power of employees’ personal brands.

  • When brand messages are shared by employees on social media, they get 561 percent more reach than the same messages shared by the brand’s social media channels.
  • Brand messages are re-shared 24 times more frequently when posted by an employee versus the brand’s social media channels.
  • On average, employees have 10 times more followers than their company’s social media accounts.
  • Content shared by employees receives 8 times more engagement than content shared by brand channels.

The bottom line is that we trust people more than we trust brands, and we engage with people more than we engage with brands. If you don’t get your employees involved on social, you’re absolutely losing out to companies that do.

source: Fiona Stoop