The number one question I get after ‘how do you make money?’ is ‘does influencer marketing really work?’ I think once the theory and the concept are explained to anyone, it’s clear how it’s supposed to work – but how can brands or companies measure the success of their campaigns when they work with bloggers or Instagrammers?
I mean, how many times does your favourite online ‘person’ have to mention a brand before you buy it? Before you buy it a second time? Before it becomes your go-to brand? And not only that, but how do the bloggers and influencers ensure they aren’t peddling goods they don’t really endorse and maintain true and authentic in their messaging? (This is something I take quite seriously and I work hard to partner with brands who totally ‘get me’ as a blogger.)
Today’s episode of In The Storyhouse digs into these questions – how can bloggers understand the brand perspective? Fundamentally, brands work with bloggers not to be nice, but because they want to increase their sales, boost their brand image, and grow. HOW can we measure that when bloggers operate in an emotional space? When our lives are the content of our blogs? When numbers aren’t always what they seem?
It is an in-depth look at the brand side of the equation from the vantage point of a blogger…whoa.
Hope you like the episode! Follow us on itunes and join In The Storyhouse on Facebook!
SHOW NOTES & Articles Referenced:
Here’s a stat from a recent VICE article:
A decade ago, print advertising accounted for 53 percent of Google searches worldwide, according to Google Trends, which shows how often search terms are entered. Today, influencer marketing accounts for 51 percent of Google searches, while video advertising accounts for 32 percent and print advertising makes up the remaining 21 percent.
What’s better than partnering with an influencer with 100,000 followers? Partnering with 100 influencers with 1,000 followers each. Working with big-name celebrities or well-known bloggers can be a difficult task for smaller brands. Even if a famous celebrity is accessible to work with you, they often come with a hefty price tag.
From Twirp Communications:
You may think “It’s just an Instagram post. How long could that take?”
Any influencer worth working with takes more than five minutes to put together their posts. Setting up the photos and editing them can take an hour or more. Writing a 500 word blog post is another hour. Then you have to add the time to craft each share on social media. Now consider the time it took to use the product you sent as well. You could be asking your influencer to spend 10 or more hours on your contract if this is a DIY project, for example.
The future is in shopper-driven content intelligence. Using shopper behavioral and basket data by product to deliver recommendations about the optimal content will allow marketers to create strategic insights at the beginning of any influencer initiative. Leveraging this data will also help marketers inform the timeframes in which content is in the market to maximize sales impact. Influencer marketing is evolving and is much more than mere influencer selection.
By looking at market basket analysis, the industry will be able to shorten purchase cycles across retailers, uncovering which items are being purchased most alongside specific brands to develop shopper strategies. This intelligence will allow marketers to combine online engagement data from influencer content with offline purchases to understand what motivates shoppers and better inform influencer content strategies.