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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“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.”
“reflecting a broader #trend in recent years where more #creative, #social media and #digital marketing operations are shifting away from agencies to #internal teams.”
how to find influencers in your industry?
“Finally, content is no longer king, distribution is. Platforms are more powerful than publishers. And recent changes to the Facebook algorithm in particular now prioritize peers over professional creators.” Good read on recent changes: inversion of influence, earning attention and distribution is king over content.