March 31, 2018

7 things we learned running an influencer marketing company for a year

It seems only yesterday we started Influo from scratch. We noticed how companies were struggling to tap into the many uses and benefits of Influencer Marketing, how they got bogged down by the logistics of it, and how the software they used – if they used any at all – was lacking. The result of our hard work is an all-round service provider that supports organization from A to Z in all things Influencer Marketing. We’ve learned quite a lot in those months of support and growth and we’re happy to share our key takeaways with you. Let’s go.

1. Always be measuring

While this is true about anything, marketers tend to forget this tried and true adage when experimenting with new strategies or technologies. Alternatively, they make the mistake of choosing vanity metrics. Yes, it is nice to know how many people viewed your campaigns, but don’t let that be the end of your measuring efforts. A good KPI is not just SMART, it is also perfectly aligned with your overall marketing and company goals. Take your time to find a common goal before you start thinking about that wildly creative campaign.

2. Tick tock. Set a time frame

It will be tempting to kick off a campaign and just see where it goes. It’s not a mortal sin by any means, but know that you will be losing some momentum and impact in the process. If you really want to hit it out of the park, set a limited time frame so you can really pack a punch. Your campaign will be stronger, more cohesive, and more noticeable. The ideal influencer marketing campaign duration? Survey says: two weeks.

3. Mix and match micro- and macro-influencers

Marketers love the big hero moments that sweep across the web like wildfire. A lot, however, is about to be said about the power of micro-influencers as well. Think of it as a different take on “Jab, jab, jab, right hook”: your micro-influencers will create and share valuable content and engage with a very loyal niche audience, while macro-influencers will top it off with a sweeping campaign that reaches a lot of people. It’s a great way to optimize both your engagement and your reach.

4. Influencers love experiences

When considering how to compensate your influencers, also take into account the tremendous value you could add with unique experiences and exclusive access to (new) products. Influencers think like journalists, and a lot of them will consider these experiences a lot more valuable than their usual fee. On Influo, brands often opt to offer both and let the influencer decide which reward they want for a specific deliverable.

5. Start small

Don’t pick a huge celebrity endorsement as your first campaign. You’ll be a fish out of water and will most likely find the ordeal rather stressful. Rather, try collaborating with a few micro-influencers first. They are more approachable and your working relationship will be a lot more personal than the one you’d have with a celebrity – or more likely its entourage. Learn from your micro-influencers and use the things you’ve learned to scale as you go.

6. There’s no standard price list

Brands often ask us how much a collaboration with an influencer is going to cost. The answer is: we don’t know. There are so many variables to take into account, like location, reach, popularity, the type of campaign, and required deliverables. When you have a clear idea of what you want and who you want it from, it’ll be a lot easier to give you an idea of the size of investment you should expect.

7. Technology isn’t the enemy

In influencer marketing, as well as society in general, voices have been wondering whether technology is going to take jobs out of human hands. Our take? Yes, but only the boring stuff. Technology is a great way to delegate repetitive tasks and to automate complicated calculations and analyses. This gives us – the humans – more time to focus on creativity and human relationships. The human aspect is incredibly important in influencer marketing, and there is no way we could successfully do without.