Influencer Marketing: An Introduction
Selling has not changed, since I started 25 years ago. What has changed is the ability to use new technologies that help us sell. For example, social media listening, LinkedIn and enterprise social networks.
When I was at school, there was one BBC microcomputer, three TV channels and the PC had not been invented. Today, when we want to buy a new product or service, we don’t need to call a supplier. We search on Google, ask friends, colleagues and influencers. We go to chat rooms, and use social media to do our research.
That means that by the time somebody comes to purchase something, they probably know more than the sales person. In fact, they may have already made a purchase decision. 25 years ago, customers got 80% of product data from the supplier, now it’s 20%.
Social selling is the ability to use social media to supplement a salesperson.
The primary objective of an effective marketing department is marketplace visibility. The team needs to build awareness for a product, company, or other positive change.
But, often, awareness isn’t enough. How can marketing move beyond mere visibility to engage customers, generate leads, or encourage purchase behaviour? One tactic for generating influence is to “borrow” it from those experts or individuals who already have the ability to persuade or move customers to take action.
Successful influencer marketing isn’t just about paying boldfaced names or social media stars. It has its own nuances.
People love to have a third-party view on any discussion, especially if that person is independent. In the past, people turned to companies such as Gartner and Forester but in the “new world” of social, a new independent person has emerged that has a view point. The blogger.
Bloggers, generally, are not connected to any major product or brand and are therefore seen as trusted advisers.
Below you can see there are different types of influencers, such as journalists and analysts, and each company may have different individuals that face off to these people. For example, PR. Bloggers, may have less influence, but may have a higher level of trust.
The diagram below explains the difference between Influencer Relationship Marketing (IRM) and Customer Relationship Management (CRM).
Below is a diagram from Forrester which explains the different Marketing techniques and the level of trust that your customers have in it. As the level of trust goes up, the more a company or brand loses control.
For example, marketing from your marketing department, is highly controlled. You choose the wording and the messaging. Customers will usually say “they would say that wouldn’t they” and it is seen by customers as biased.
As you move up the graph, you lose control of what is said, but you gain trust.
The next level of marketing you should introduce is to get your channel to market for you. Again, the charge of “they would say that” can be levelled against you, but often these partners will own customer relationships at individual accounts. For example, they may be trusted advisors at a customer or account level.
