In anticipation of our inaugural Influencer Marketing Days conference in New York City (on November 14-15, 2016), I am excited to announce a series of speaker interviews which will be published here, on the conference’s blog.
The first interview I conducted with Brendan Lattrell, CEO & Founder of Grapevine, who will present on Day 2 of our 2016 conference, speaking about the shifting digital landscape and influencer marketing’s place in it. Below you may find our talk with Brendan.
Question: While the concept is centuries-old, influencer marketing became the “buzz word” only a couple of years ago, and advertisers’ interest in it is only getting stronger. What do you think about influencer marketing?
Brendan: From word-of-mouth to blogs and social networks influencer marketing has become an important part of the brand marketing mix. However, in the past year several large changes in the media landscape have dramatically increased the importance of influencer marketing. On one hand the 70 billion dollar TV ad business is changing fast as viewers opt to cut the cord and watch content on devices. YouTube reports, for example, that it reaches more people between 18-49 then any cable network in the US. So, we have this massive influx of people spending their discretionary time consuming content on devices and eMarketer is now reporting that digital ad spend will surpass TV for the first time ever next year. All of this sounds like great news for digital marketers until we talk about the elephant in the room – Adblocking. Blockmetry just reported a staggering one third of all global page views are now impacted by ad blocking. Further, there’s a staggering 198 million users ad block users with 41% growth in the past year according to PageFair. These external forces have forced marketers to look for new places to deploy ad dollars and the rise of digital stars on networks like YouTube & Instagram have become an increasingly attractive channel.
Question: What’s the biggest misconception you’ve seen brands have about influencer marketing?
Brendan: Often brand marketers assume bigger is better when working with influencers. While rising stars often have smaller reach than big influencers they also often have a better connection to their followers. One study found that smaller influencers get two to five times more organic engagement per post than influencers with over 100k followers. We’ve noticed a similar trend at Grapevine. Recently a luxury brand chose three creators with large followings and high rates. Meanwhile, a drug-store retailer chose 19 up and coming creators to promote their products. While both brands had similar budgets the drug-store brand who chose the smaller creators performed much better with 41% more views and 76% more clicks.
Question: What top 3 mistakes should advertisers be aware of as they look into getting their feet wet in/with influencer marketing?
Brendan: First, when you’re looking for an influencer to promote your brand product focus on fit, don’t simply go after the creator with the biggest following. Use the powerful tools and platforms available to find creators who will reach the audience you want and have a style consistent with your brand identity. Second, communicate with the creator. Like any business relationship building a rapport with the person you are working with is very important. A small compliment on previous work they have done can go a long way, for example. Third, when it comes to creative control be prepared to let go. Creators all have a unique style and know their audience well. It’s okay to give them some suggested talking points but you will get the best results by letting create the content and present your brand and products using their own voice.
Question: What do you believe to be the biggest challenge that advertisers face in terms of influencer marketing, and what steps can they take to overcome it?
Brendan: The biggest challenge advertisers will face as they ramp up their influencer marketing efforts is scale. Finding creators, communicating with them and measuring the results that deliver is a complicated task, particularly as you begin working with larger numbers of creators. There are some fantastic platforms out there which help manage this process and some that will actually help you measure ROI as well…cough… Grapevine…cough…
Question: Give us one key reason why marketers should attend your Influencer Marketing Days session.
Brendan: The rise of digital stars with large followings across a growing number of social channels has created the biggest media ecosystem the world has ever seen. Learning how to capture its value is an important part of every marketers toolkit and the thought leaders presenting at IMD will provide invaluable information to help you ensure your brand’s success in this new marketing landscape.
Stay tuned for more interviews, which I will be publishing no less than weekly. Right here — on Influencer Marketing Days blog.
And don’t forget to register for our first show this Fall!!
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