How to Craft an Influencer Marketing Program. There are two distinct Influencer Marketing Strategies. Learn which is right for you and how to apply it.
View original post at: http://blog.dlvr.it/2014/10/influencer-marketing/
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Which Influencer Marketing Strategy Results in More Customers?
1. Which Influencer Marketing Strategy Results in More
Customers?
blog.dlvr.it/2014/10/influencer-marketing/
Bill Flitter
(#ToolboxTuesday) Every niche has them; “brand influencers”, people considered
influential within their domain. If they mention your business or website, you
should expect your sales and traffic numbers to skyrocket. If you search Google
for influencer marketing tips, you will find no shortage of opinions on how to find
and ‘influence’ the influencers. Today’s social media tools make locating
influencers easy.
However, given your small business’ limited time and budget, is spending time
trying to connect with a person with a high influential social score (a.k.a. Klout
score), the right approach?
Two Schools of Thought
2. Influencer marketing, should be a core part of your social media strategy and
requires you to focus on a small subsection of your audience.
There are two conflicting schools of thought when it comes to influencer
marketing. Although many will focus on one of these two methodologies, both
have their place in marketing strategies.
1. The Law of the Few: Malcolm Gladwell’s theory of the Law of the Few,
states viral marketing is heavily dependent on the involvement of a few
highly influential people; the Noteworthy in their niche, the Kings of Klout
and the Mavens of Media.
2. Peer Influence: Duncan Watts’ Peer Influence theory states that everyday
people, our friends, followers, and parents influence what we read and buy.
I view the conflicting theories on influencer marketing as similar to the story of
the tortoise and the hare. Both can reach the finish line but at different speeds and
at different times.
1. Hare: The Law of the Few. You benefit from a huge immediate impact in
traffic. You might use this tactic for a new product launch.
2. Tortoise: Peer Influence. Slow, growth over a long period of time. You likely
are already doing this with your everyday marketing.
Regardless of which methodology you decide to employ, to be successful at true
organic influencer marketing (vs. paid) you need to have both a great product,
service or content worth talking about AND patience and persistence. Both
strategies have the potential to create viral marketing opportunities. What’s
different between them is the marketing strategy you apply.
Applying Gladwell’s Law of the Few Strategy
3. You have one opportunity to
make a first impression. When
applying Gladwell’s theory, the
stakes are higher, especially if
you are in a small industry with
a few big influencers. You
need to have a plan and be
methodical in your one-to-one
marketing outreach.
Law of the Few: Tightly
focused relationship-building
process.
Step 1. Identify a Dozen Influencers. Don’t go overboard. This isn’t about
reaching a mass of people. This is about identifying a few key people in your
niche. Here are three web tools to get you started:
PeerIndex
BuzzSumo
Keyhole.co
Step 2. Create and Send Personalized Messages.
Get Acquainted. Research each influencer, read their blogs, follow them
on social media, comment on their blogs, retweet something they write.
Gently let them know you exist. This won’t happen overnight. Be patient.
Make the first move. Create a short customized email containing relevant
information you discovered. Be personable. Offer to send them your
product or offer a free trial. Keep the message brief and warm.
Step 3. Measure your Success.
Are the influencers following you back on social media?
What’s the response rate of your email? Send out a few emails and wait to
see the reaction. Tweak as needed and send to the other influencers not
yet contacted.
Always respond with a thank you when you get mentioned in their social
4. media stream or when they write a blog post about your company.
A good mention by a niche influencer can do wonders for your brand in terms of
growth and new customers.
Applying Watts’ Peer Influence Strategy
This is likely something you are
already doing as part of your social
media strategy. I view the Peer
Influence theory as the everyday
things that create a wonderful
customer experience. For example,
the Social Media Minute is about
crafting content our customers will
enjoy and benefit from. We want to
understand their top pain points and
do what we can to help them out. This
is marketing to a few vs. the one-to-one
strategy discussed above.
According to the Harvard Business Review, Duncan Watts peer influence model
also called big seed marketing…”does not rely on identifying a small number of
special people, but rather on harnessing the power of a large number of ordinary
people. By reaching a mass audience, and encouraging them to share, you
increase the likelihood that a viral chain emerges and, even if it doesn’t, you still
improve performance.”
Crowdtap, an influencer marketing company, discovered that 92% of us rely on
people we already know for recommendations. Nielson backs up the claim:
Ninety percent of consumers surveyed noted they trust
recommendations from people they know, while 70 percent trusted
consumer opinions posted online.
As a business owner, we want to add fuel to our online growth. The Peer
Influencer marketing approach is more like a pot of boiling water. The water
doesn’t boil as soon as you add a heat source. It takes time. The benefit of time, is
loyalty and a source of new customers.
5. Source: Crowdtap
Step 1. Identify Brand Advocates. These are people who are talking about you
in social media, writing positive reviews on Yelp, or taking the time to send a
6. written letter.
Step 2. Say Thank You. Sounds obvious. Thank them for retweeting your blog
posts, send them a personalized letter. Invite them to participate in a special
program or give them and a friend, a coupon.
Step 3. Measure. If you are creating a compelling product, service or content, and
acknowledging brand advocates, a simple measure is to look at the lift in retweets,
positive feedback and overall customer satisfaction – positive responses. Also
consider more granular data:
What content is being shared most often and where?
What’s the level of the advocate’s commitment? Are they responding to
survey requests? Are they participating in further dialogue?
Are you seeing a lift in sales or traffic? Turn to Google Analytics. For
example, look at time on site and bounce rate to see if engagement in your
brand is increasing.
Now it’s your turn. Which influencer marketing strategy do you believe in? Are you
a Gladwell or Watts believer?
Featured Image by: Scott Cresswell