Apart from Facebook and Google Search advertising, the next key digital medium that delivers undervalued ROI is influencer marketing. However while it can potentially deliver fantastic return on ad spend, it is one of the trickiest strategies to master and the failure rate is high. To lessen your risk here are 5 key trends and power tips that you might want to incorporate in your next digital marketing campaign for your business.
Celebrities work IF they are actually good native creators
Millions of pesos are wasted annually on “top tier” celebrity endorsers who just tweet scripted and soulless ads on their social channels. We see this a lot everyday and the engagement (what more the reach) are dismal. If you will get celebrities to push on social here are the critical factors that you need to keep in mind:
They have to be good native creators. They should know how to take compelling Instagram photos or vlogs for YouTube. For Instagram we suggest you guys check out the accounts of Liz Uy and Kim Jones. Those two are some of the best celebrity IGers in the country. Solid creative content combined with celebrity power delivers massive reach and equally impressive engagement. It won’t just fly over the heads of their followers. They’ll actually consume and interact with the content.
You have to give them creative freedom to speak in their tone, language, and style. A great example is how Youtuber Wil Dasovich does it. Take for example this video he made for a shaving brand. I can only imagine the debates the brand/media guys had with him. They probably wanted to keep the video short but Wil did his usual almost-10 minute vlog episode. It made the material believable.
Arbitrage is in the Long Tail
This is where a lot of marketers miss out. Don’t just gun for the celebrities because they are expensive and usually overpriced (with a few exceptions). The real value for influencer marketing is if you’re able to gather a solid stable of Instagramers, Snapchatters, Vloggers, and Bloggers creating content for your brand in their tone, style, and language.
What can you offer them? Cash, tokens, or even exchanging media values. You can offer them media budget to boost their content so they can grow their audiences. I’ll write more about how you can build a good stable of influencers in a separate post.
Validate with affiliate codes to see effectivity
This is something that not a lot of local influencers do yet but you see this often with US-based YouTubers. If you have a mobile commerce or e-commerce website, you can give your Influencers unique discount codes that they can share to their followers. This way you can actually track if they are delivering you revenue and not just reach. It’s critical for you to find out who the Influencers are that you can rely on to have an impact on the bottom line. If you can identify them you can build deeper relationships with them (allocate more budget for them).
Be transparent and ask them to disclose #ad
Last, but definitely not the least, is a question of ethics. It’s not common practice here in the Philippines to ask influencers to disclose if it’s a paid ad or not. It’s a grey area but we believe that consumers deserve to know the truth so they can make better informed decisions.
Use Media to drive reach
Let’s say you have one influencer who doesn’t have too much reach but creates fantastic content for you that delivers sales (based on your affiliate code). What you can do is you can allocate media budget to give you the desired reach you need to be able to get the best ROI and return on ad spend.
The best way to learn and get better at this is to try it yourself. Don’t be too hard on yourself if you make mistakes. Adjust, reallocate, and monitor your analytics to see who brings up sales and who doesn’t. Once you’re able to build that pool of Influencers you can then move to playing around with media budgets to scale ROI.