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How to Audit Your Influencer Marketing Agency

Content Strategist em The Shelf
6 de Jan de 2021
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How to Audit Your Influencer Marketing Agency

  1. How to Audit Your Influencer Agency 4 Mistakes Influencer Agencies Make That Can Cost Your Brands Millions In Missed Revenue
  2. Social Media has become the go-to channel for customer acquisition, customer engagement, and customer service. It allows small brands to create responsive messages that resonate with their customers, and it allows big brands to act more like small brands. Where paid ads are often thought of as non-personal marketing, influencer marketing is far more personal. So, the goal as marketers is to test and analyze different messages and assets across different channels to see which ones are working, then leverage influencers to get more mileage out of those messages and channels… all while creating new assets. Pretty neat trick. But it takes some technical know-how (besides just looping influencers into the mix) to run an influencer marketing campaign that actually delivers on the promised metrics. Just so we’re on the same page, let’s sum up influencer marketing REALLY quick...
  3. Think about this: for every day in 2019, about 13,560 pieces of influencer-created sponsored content went up on Instagram (Statista). That’s out of the 95 million pics and videos Wordstream estimates goes up on the platform every day. That’s A LOT of content. Between 2017 and 2019, the influencer market more than doubled in size, going from $3 billion to $6.5 billion in value. These days, 9 in 10 marketers are trying their hand at launching an influencer marketing campaign of one kind or another. It’s true that for most marketers, the global pandemic wreaked absolute havoc on budgets, plans, and whatever great ideas your creative team dreamed up with hopes of executing by the end of Q1 2020. Despite the many suggestions that the influencer marketing industry would never survive the pandemic, influencers and influencer agencies had figure out how to pivot messaging more quickly than most other marketing teams… which offerent the industry a distinct advantage. The influencer marketing industry is still growing.
  4. % of people interested in what influencers have to say 40% of Women Hispanic 42% African American 34% Asian 34% White 33% 18-22yo 46% 23-38yo 54% 39-54yo 26% 55-64yo 10% BY ETHNICITY 29% of Men
  5. Influencers can break through the noise and get your message heard. The honeymoon phase of influencer marketing was over around 2016. Since then, brands and marketers have been kind of obsessed with getting a positive, measurable ROI from running influencer campaigns. There are a few important KPIs marketers consider when it comes to judging the success of an influencer campaign, one of which is engagement. Why does engagement matter? Beyond landing impressions, this is the one metric used to gauge how many eyeballs actually saw your content. It’s increasingly difficult for anyone to be heard in the webosphere over the 100 blog posts that go live every second, 6,000 tweets going out per second, 95 million Instagram posts we mentioned earlier, and increasingly sophisticated ad blockers making it tough to get your display ads seen. Influencers are still seen as trusted advisors whose recommendations are worth checking out.
  6. For brands, the value of running an influencer campaign goes beyond just having great content. Influencers are tuned in to the conversations, sentiments, and intentions of their audiences which are exactly the kinds of insights marketers need right now. Having access to actionable intel provides marketing teams the chance to adopt agility as part of their marketing strategy. But like we said 👀 there’s technical stuff involved in being agile that A LOT of marketing teams have trouble executing. (Keep reading) There are challenges marketing teams still haven’t cracked the code on.
  7. Challenges Brands and Agencies face running effective influencer campaigns % of respondents Finding Influencers to participate Managing the contracts or deadlines of the campaign Bandwidth/Time restraints Processing Payments to Influencers (e.g. Pinterest)
  8. 1. Improper Targeting 2. Tone-Deaf Strategies 3. Platform Misalignment 4. Account Management All 14 of those challenges can be solved by correcting 4 mistakes agencies commonly make building influencer campaigns:
  9. Solves: Sourcing influencers, influencer fraud, campaign ROI, brand alignment, social media trends #1 Improper Audience Targeting
  10. Okay, without a doubt, the biggest mistake marketing teams and agencies make with influencer campaigns is trying to build campaigns in a vacuum. Now hear this: Influencer marketing is a powerfully effective marketing technique… but it’s a marketing technique, nevertheless. And one of many techniques your brand should be using to reach your buyers as part of a larger, more comprehensive digital strategy. That said... Successfully targeting your audience will require the marketing team or agency handling your influencer campaign to understand your customer’s path to purchase. This includes pinpointing all the various ways your customer buys as well as identifying the marketing channels that are working for you right now (and the ones that aren’t) in order to structure an influencer campaign that will be most effective within the context of your existing digital marketing strategy. Remember... influencer marketing campaigns don’t work in a vacuum.
  11. If you’ve had entire influencer campaigns fail to reach your promised metrics (or had your agency fail to promise any decent metrics), it’s not the influencer’s fault. Your influencer selection process may be flawed. On a good day, only about 2 in 5 marketers feel like they know what they heck they’re doing when it comes time to recruit influencers (Source). That’s a BIG DEAL because knowing how to align the RIGHT influencer with the RIGHT concept determines how your influencer campaign will ultimately impact lift across metrics like brand awareness, follower growth, list-building, downloading your awesome thing, intent to purchase, or completing a purchase. Yet, influencer selection remains one of primary challenges for most of the marketing teams who sit down to plan an influencer campaign. You already know that better results start with better influencers.
  12. Secret sauce time. We’ve already established the need for your agency to understand your customer’s path to purchase and which marketing methods and marketing channels are working for your campaign. Everyone assisting with this campaign also needs to understand your buyer personas - who buys your product and why they buy it. Most products will appeal to different people who buy for different reasons. Take CBD, for instance: Last year, when CBD was trending everywhere, High Yield Insights released a report which contained a chart of the five buyer personas most likely to purchase cannabidiol (CBD) products. The personas varied greatly in their demographics and psychographics, which, of course, means marketers have to reach them in different ways and with different messages. Just so you can see what we’re talking about here, we pulled a few characteristics from three of those buyer personas. Which would resonate with a message on pain relief? Skin care? Who would you be able to reach on Instagram? Facebook? TikTok? Go ahead and dig up those buyer personas because that’s how you target. SAMPLE BUYER PERSONAS FROM HIGH YIELD INSIGHTS’ CBD INDUSTRY REPORT Persona 1: College-educated, white Gen X dad earning over $75K, employed full-time, 1 in 11 are military veterans. Most likely to use it for chronic pain, to minimize anxiety. Also important to note these guys are most likely to be okay shopping for CBD products without guidance - probably have used the product longest. Persona 2: Single, African American millennial, just as likely to have kids as not have them, just as likely to be male as female, earns $75K and under, college-educated. Most likely to use CBD for health and wellness, natural remedies. Persona 3: Likely a white millennial wife and mother (40% chances she’s a stay-at-home mom) who graduated high school and has some college under her belt, using CBD products for beauty, hacks, and wellness.
  13. Now, to fit all those moving pieces together so your campaign hits right So... you’ve probably already put together that an agency’s process for finding your target audience and knowing how to reach them hinges on how good they are at choosing the right influencers for your campaign. In order for that influencer selection process to work, it needs to integrate a couple of other really important factors: An influencer should be chosen based on the likelihood she’ll be able to create content for the specific buyer persona she’s creating content to reach. The influencer selected also needs to be great at creating content for the specific platform(s) where your target buyer is most likely to spend time. An influencer should stick to creative concepts that support the messaging needed to push your target buyer deeper into your funnel and/or farther along on the purchase path. Now, let’s move on to campaign strategies.
  14. #2 Tone-Deaf Campaign Strategies Solves: Sourcing influencers, campaign ROI, brand alignment, emerging channels, always-on strategies
  15. The most effective influencer marketing campaigns answer a specific need your customer has. That’s the antidote to coming off as tone deaf. A lot of marketing teams miss that. The campaign strategy an influencer agency chooses should have two things: a way to compel your customers to take the next important steps on the path to purchase, and specific, measurable goals to let you know your customers are moving toward a conversion. Because your internal marketing team understands your customers’ path to purchase, it’s crucial that they monitor the messaging tied to your influencer campaign. Let’s say you launched a new line of super vitamins, and you’re targeting people who already take vitamins as part of their daily routines. Your immediate objective will be finding ways to get the attention (👈 very important) of your competitors’ loyal buyers. For that, you’ll need a brand lift campaign. Why? Because you won’t be able to get attention with just some pretty pics of your vitamins surrounded by flowers. No, people need a compelling REASON to REMEMBER your product. The two things your campaign strategy must have to keep from being tone deaf.
  16. At this point, your influencer agency should be able to dream up a concept that highlights one of your cooler value props. Maybe your vitamin breaks down slowly in the body, which results in loads of B-vitamins entering the bloodstream consistently throughout the day instead of all at once. So, the agency could create concepts around: ● Exhausted remote working moms who are doomed to be “always on” ● Mature professionals who want to ditch the sugary afternoon treat ● Young professionals who are trying to reduce their caffeine intake and find healthier ways to achieve and maintain vitality ● People who wonder if their vitamins are even working (they won’t have to wonder because they’ll be able to feel the difference with your vitamins) Next, if your agency was smart enough to loop in micro- influencers to create really great content around those pain points, you could reuse that content in your retargeting and in content on your own website (because the next touchpoint on your customer’s path to purchase is a whole BUNCH of research). Remember: People care about the problem they have and the fixes available. They may not remember your brand immediately. But that’s okay. Now, knowing that the next step your customer takes on the path to purchase will be researching whichever one of these pain points they’re dealing with, you and your team can create keyword-optimized content to live elsewhere on the web to address that pain point and keep interested prospects in your funnel.
  17. Why setting goals for each touch point is the key to tracking ROI. Let’s talk about campaign goals. We already said that campaign goals track how well your customers are moving along the path to purchase. There are different types of campaigns that can be used to achieve a variety of different campaign goals. Brand Awareness Campaigns work best when your goal is to introduce a new product, when you’re rebranding, when you’re trying to present a value prop to interrupt someone’s intention to keep buying their regular brand. Content Campaigns are best when your goal is to get a ton of influencer-generated content (and especially evergreen content) that you can reuse across your branded channels and in online and offline ads. Traffic/Clicks Campaigns work best for increasing site traffic, growing your list, getting sales and when you’re also running retargeting campaigns (and need prospects to see your brand a few more times to stay top-of-mind). Each of these larger campaign categories incorporates measurable goals. Stuff like adding 10 influencers to your brand ambassador program (a legit one, not a fake brand ambassador program). Or like boosting your follower count by 10%. This is the key to tracking the progress of your campaigns.
  18. Solves: Campaign ROI, finding influencer to participate, brand alignment, creative strategy, emerging channels #3 Platform Misalignment
  19. Your audience and your product dictate your platform… right? Another area that can pose a challenge for your influencer agency is knowing which platforms to use to sell your awesome thing. Instagram isn’t the only place to run an influencer campaign. Platforms like Pinterest, Facebook, and TikTok (fingers crossed) are also great social media platforms for reaching different types of audiences with different products. That means you should loop in podcasts if you know you need to reach busy professionals. Or add YouTube (if budget allows) since it’s a preferred channel across demographics, and especially now that churches, community groups, and in-person events are being moved to youTube. The factors that influence where your influencer campaigns should run are your product and your audience: ● Knowing what your audience needs to see and hear in order to understand the value of your product, and ● Knowing where your audience spends time online
  20. Products and services can be marketed in a couple of different ways. Marketing with images works when you can grab the attention of potential buyers just by showing pictures of something, even if there’s no explanation included. Think: clothes, shoes, cosmetics, potential suitors Marketing with sound works when the value of a product is better communicated with short audio clips that explain how something works. Think: lawyers or other professional services, songs, software, rewards programs, diet and nutrition products, high-end dog food or commodities that offer some extra thing that makes it special. Video marketing works when you essentially need both visual cues and a scripted explanation to demonstrate value. Think: pressure washer and other products where it may be less of a hassle for your customer to skip buying your thing and just hire someone to do it, tractor and high-ticket items, mobile apps and gadgets, home sales, training systems Audio or video? Does the agency understand how your customers buy?
  21. Part of the beauty of influencer marketing is that it can integrate multiple content types and boost the value of say, product images, by embedding the product in a compelling story. Storytelling gives context to the image and validates the usefulness of your product. The job of the agency, then, is to help your brand figure out which platforms would deliver the best ROI based on your campaign goals, your campaign concepts and where your audience spends time. This is also the time when your agency should let you know about any emerging channels that may be a good fit for your campaign. For instance, a campaign for a new nutrition product may be great to showcase on Instagram for getting the brand lift needed to get eyes on your product… But it would also make sense to loop relevant influencers into the mix who have podcasts or vlogs so the product itself can be explained and your buyers can get a better sense of the product’s benefits. These types of nuances pretty much hinge on how well your agency functions internally. So, read on... Influencer marketing loops in multiple things at once, true, but...
  22. #4 Unowned Tasks the Agency Account Managers Should Be Handling Solves: Finding influencers, influencer fraud, brand safety, creative strategy, timeline, FTC regulations, algorithm changes
  23. Many of the problems brands have with their campaigns can be traced back to the team running that campaign. Common challenges like: ● Finding influencers ● Heading off influencer fraud ● Maintaining brand safety ● Coming up with creative strategies ● Maintaining the timeline ● Ensuring influencers adhere to FTC regulations ● Adapting strategies to algorithm changes ● Integrating new features on social media platforms if they’ll help your campaign ● Optimizing campaigns Not saying your agency has to know everything about everything, but the team should certainly have more than a few tricks up their sleeve for making a campaign work. Now… let’s talk about your influencer marketing agency of record...
  24. Make doubly sure the agency takes ownership of these 3 areas. Creative Concepts. There’s no place in an influencer campaign for a basic product placement post. Does the agency have a creative strategist on the team who dreams up brand-safe ideas for your campaign? Pay attention to the campaign brief and creative concepts. They’ll help you ensure the influencer agency + your marketing team are in alignment on your campaign goals. FTC Compliance. The latest updates to the FTC laws governing sponsored content hold both the brand and the creator responsible for content that is misleading, promises that haven’t been proven, and posts that aren’t clearly identified as ads. Make sure your agency has identified who on their team will make sure each piece of influencer-generated content from your campaign is FTC-compliant. Always-On Optimizations. Optimizing influencer campaigns is an ongoing process. It’s not a set-it-and-forget-it type of thing. Make sure your agency is monitoring the campaign to figure out which posts are performing best so you know which messages are resonating, which influencers are delivering (and who should stay on in this campaign or others), and which posts to tweak or turn off.
  25. Together, your marketing team and the influencer marketing agency running your campaign can pretty much eliminate any possible hiccups with your influencer marketing campaign long before you ever even roll it out. Your marketing team + The influencer agency Your KPI-Driven Influencer Marketing Dream Team
  26. An influencer marketing strategy is most effective when it’s being used to close the gap between that initial trigger and the purchase. And that’s what we do best. Wanna know what happened to your previous campaigns? Good thinking. Let us conduct a free audit of your previous influencer campaigns. We Are The Shelf We connect brands with creative Instagram, TikTok, & YouTube storytellers to build captivating full-funnel influencer campaigns. If you’re all about that ROI, we are the agency for you. Contact us sales@theshelf.com
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