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Your fashionable neighbor\u2019s new shoes. Your fit friend\u2019s favorite yogurt. Your dad pitching you his alma mater. Influence has long been the match that lit the fuse to compel someone to make a purchase or develop certain beliefs. But thanks to social media, modern-day influencers now have a forum far beyond their immediate circle to exercise their persuasive reach. And given the continuing erosion of trust in traditional social institutions like government and the media, today\u2019s influencers wield significant power when it comes to inspiring brand loyalty or setting a company\u2019s reputation ablaze.<\/p>\n
With such high stakes involved, developing influencer marketing strategies requires a careful approach to ensure the best brand fit and mutual success.<\/p>\n \u201cThere is no doubt that if you are in consumer-packaged goods, if you own a restaurant or a retail establishment\u2014pop-up, brick-and-mortar, online, it doesn\u2019t really matter\u2014an influencer is almost, at this point, a must have,\u201d says Heather Capps, founder, president and CEO of HCK2 Marketing and Communications.<\/p>\n The reasons are both psychological and analytical. The halo effect is in play, which is when, according to the Reboot Foundation, \u201can initial positive first impression unduly influences your opinion of that person as a whole.\u201d So if you think Hailey Bieber\u2019s a smart dresser, you also might be willing to listen to her views on other subjects: skin care, marriage or even politics.<\/p>\n If an influencer is interested in a trending topic, your brand could benefit from the association even more.<\/p>\n \u201cWhen things are trending from an algorithm perspective,\u201d Capps says, \u201cit is getting pushed to the top of your inbox and to your feed. It is the coveted thing that every marketer is looking for\u2014more eyes on (your) brand\u2014so that you open up your funnel further and wider\u2026 and draw people into whatever your respective conversion is, whether that is following along with some kind of societal positioning or (buying) this mascara over that mascara. The fact that selling beauty products and just mundane consumerism\u2026 has now melded with true moral compasses as a human being is really interesting.\u201d<\/p>\n There also exists a wealth of data that can help drive the decision to partner with an influencer.<\/p>\n \u201cThe usual measurements of engagement (e.g., likes, comments, follower growth) are definitely relevant,\u201d Capps says. \u201cUsing a special discount code\/mention for direct attribution is helpful as well.\u201d<\/p>\n Another useful social media metric is a Net Promoter Score (NPS), which shows the likelihood of your current customers to refer other customers.<\/p>\n \u201cI think savvy consumers have begun to realize that \u2018bots\u2019 are oftentimes responsible for online reviews, so a third-party-administered NPS program measuring customer loyalty once again brings a measurement of authenticity based on multiple data points,\u201d Capps says.<\/p>\n