“In influencers we trust.”
Sounds cliched but it is the most successful marketing tactic in the 21st century.
Ashley Walsh, Account director for North Strategic was the speaker for our fourth-week class. Her insights and explanation on the subject of Influencer marketing were noteworthy. What I learned from her will to be my base for the understanding of Influencer marketing.
It is a well-accepted fact that Influencer marketing is the most effective medium of marketing in the 21st century. Influencer marketing has gone through immense change. At first, only widely popular people were counted as influencers but now even people with a limited following are well respected and sought after. These are the influencers who don’t have a wide following but have deep support from their follower base. Penetration of digital media has made these influencers key to modern marketing. These micro-influencers are most active on platforms like Instagram, Facebook, YouTube, Twitch, and TikTok. Choosing the influencer is crucial for the success of this technique and complacency on any step can be detrimental to success. Choosing an influencer is a three-step process and each of the steps is of utmost importance.
The First Step is to
Define: Determine campaign/brand criteria, here it is important to think about the following points
● Reach, Location, Demographics, etc.
● Category: Travel, Lifestyle, etc.
● Platform: Instagram, YouTube, etc.
● Desired Action: sign-ups, drive traffic, awareness, etc.
Second is to
Identify: Identify influencer partners, here it is important to think about the following points
● Insight alignment
● Leverage identification tools to find new partners, depending on campaign needs
● Review of feed for content watch-outs: profanity, political speech, and previous sponsorships
And, third is to
Validate: Validate following and engagement, here it is important to think about the following points
● Validate engagement rates, influencer fraud, etc.
● Tools for validation include Fake Check, Social Blade, and Phalanx.
After choosing the right influencer it's time to measure the success. Whenever a campaign meets or exceeds the expectation it is considered a success. Success is always measured numerically. And to measure the effectiveness of a campaign numerically it is very important to have Key Performance indicators. Some KPI’s can be Clicks, CTR, Impression, etc. And meeting or exceeding the expectations for this KPI is counted as a success. Also for success, it is important to have a clear contract that states campaign dates, outputs, ownership, and licensing terms, and payment terms.
This career option looks quite appealing to me as it provides an opportunity to explore the world of influencer marketing. Getting a chance to understand the functioning of the influencers and to gather insights that can drive a brand is very appealing to me.
When I first heard about the term Influencer Marketing, I had many questions popping into my mind. I wanted to understand what work does an influencer marketer do. What would be the responsibilities of an Influencer marketer? The best part was the question was addressed before I could get an opportunity to ask her about that. Her explanation was quite detailed. Learning about the function and fit of the role got me more excited. I would love to explore more about this new field.
The things that I learned from the speaker were to be open, ask for connections, and invest time and effort into building relationships. I believe these are the foundation of good networking. And networking is not only necessary for getting a job but also for a successful career.
It was a wonderful experience, and the lessons learned would help me throughout my working life.
