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Are influencer partnerships the answer for every brand out there? Well, that’s a big question. But one that Talking Influence set out to tackle in a recent Deep Dive feature exploring the true value of influencer partnerships, from forming relationships to increasing ROI.
We asked ITB Worldwide’s Senior Account Director Aaron King to weigh in with his views – and here’s what he had to say:
“Beyond the restrictions in the UK which limit industries like tobacco and pharma for example, the beauty of influencer marketing it’s inclusive to everyone. But the bigger question brands and their agency partners need to be asking is: what are we trying to achieve and can we realistically achieve this with influencer marketing? Influencer marketing isn’t a miracle cure for all of our business problems; you can’t just do a one-off influencer marketing campaign and just expect the sales to roll in. It needs to be part of a smart marketing ecosystem.
Often, where mistakes are made and the ROI isn’t what was expected is because brands are working to the wrong KPIs. They need to properly frame what they are trying to achieve – that could be sales but it could also be working to increase brand recall or to shift brand perception. With the right KPIs in place, that’s when you’ll realise the full potential of influencer marketing. What does ROI mean to your brand? Performance models can work extremely well for awareness but if you’re wanting to shift perception you need to explore other ways of charting success and mapping that against your own business objectives.
The benefit of creating long-term partnerships with influencers is that it allows you:
- To get more access to the influencer
- To have a mutually beneficial relationship. The key to success is to offer more than the influencers would normally receive.
- A deeper understanding of the brand’s universe and more opportunities to educate the influencer on your brand and products.
- To get more from the influencer, additional content for example.
- Long-term relationships allow the influencer to appear more authentic
- From a management perspective, it’s easier – a contract for all activity, a clear level of expectation and the ability to really plan in advance.”
Some of Aaron’s perspectives were included in the full feature on Talking Influence – which you can read here: https://talkinginfluence.com/2022/01/31/deep-dive-exploring-the-value-of-influencer-partnerships/