EAE News
Influencer Marketing in 3 key factors: ROI, targets and measurement
19 de October de 2020
“It is important that each influencer is linked to a specific sector and can carve out a path for themselves as a trendsetter in that field”
In recent years, influencers have gained an increasingly central role when planning a digital marketing strategy. Influencers are here to stay, but it is essential to have a very clear idea of how to work with them, the factors to take into account when choosing one that fits with our brand, and the mistakes to avoid. Javier Barazarte, a lecturer on the Master in Marketing and Commercial Management at EAE Business School, shares his insight into all the key factors.
This interview originally appeared in the Talent Alumni Review. Click here to download it.
In your opinion, who can be considered an influencer? Can only people who specializes professionally in a field be considered an influencer or can the term also apply to any famous person who has a social media account?
In my opinion, an influencer is an opinion leader with a real audience with which they actually interact and who also has the power to persuade them for any purpose, in any sphere, including the political, economic, social or artistic realms, among others, There are now various kinds of influencers. One of the classifications to date most widely used by digital marketing professionals is based in the number followers they have.
- Nano-Influencer: - 10k
- Micro-Influencer: 10k to 100k
- Mid-ter Influencer: 100k to 500k
- Mega influencer (high-tier): 500k - 2M
- All-Star (+2M)
For instance, we may have a famous digital personality from the world of art who has no engagement. In such a case, we would have to question whether or not they actually have any influence over their audience. In other words, we might have an actor in the mega-influencer category who does not guarantee that a movie is a box-office hit. Or there may be a football who guarantees that the stadium is sold out for a match. Therefore, recognizing whether or not a digital personality is an influencer always depends on several factors.
To answer your question about people who specialize exclusively in being an influencer, nowadays, it would be a mistake for an influencer to focus solely on that role as a main source of income. It is important that the person is linked to a specific sector and can carve themselves out a path as a trendsetter in the field. However, they have to read up on the content a great deal and be really creative with their posting.
When choosing an influencer, which quantitative parameters do we have to take into account? What matters most – the number of followers or the interaction rate?
Without a doubt, the interaction rate prevails as the key parameter. There may be a potential when you are picking a digital personality with lots of followers, but not a real audience.
In your opinion, what is the biggest mistake that a brand can make when choosing an influencer?
Trusting their followers without knowing their target audience. You have to have a three-dimensional vision of the influencer’s audience, beyond simple appearances. The audience may only be male or female, macho or feminist, gay or lesbian, or focused only on food, education or sports. When starting your campaign with an influencer, firstly, identify your target and then find somebody who is compatible with this target and brand values.
“The brand has to have a three-dimensional vision of the influencer’s audience, beyond simple appearances”.
What factors do you think help to achieve the sought-after goal of engagement?
Advertising creativity, authenticity in our posts and quality content at just the right moment. To achieve this, it is essential to learn from data analytics and make it your greatest ally, thereby getting better results in terms of connecting with this audience.
As far as brands are concerned, ideally, how often should influencers post videos/content, etc. on YouTube, Instagram or blogs? Does consistency matter? Is it a question of the more, the better or, just the contrary, less is more?
It all depends on variables such as audience and the best days to post. Nothing is set in stone. Each social network is different and the post rate is personalized. You have to adjust the posts to each platform. For instance, in terms of the quantity of posts, on Instagram, they say that you should have at least 5 posts per week and at most 15, with a maximum of 2 posts a day. On YouTube, the video post parameter ranges from at least 1 per week to a maximum of 3.
In terms of qualitative factors, how do you gauge the affinity between the influencer and the brand? Should we choose somebody who we think would consume our products?
They must be compatible with the brand’s values. That is the main factor to take into account in a campaign with influencers. In some way, the digital personality has to have an affinity with what we are selling so that their credibility is legitimate.
When planning an influencer marketing campaign, which factors are fundamental? What should we take into account and what should we never lose sight of?
How you are going to measure the return on investment and what the objectives of the campaign are. Of course, we must be sure to have a campaign measurement program, with indicators and metrics.
Nowadays, you can measure everything. There is software for everything. Apart from measuring, which is so vital, we should place a special emphasis on comparative evaluation, quality content and creating brand value.
How do you detect if an influencer is manipulating their data? Are there applications or specialist agencies for detecting this kind of fraud?
There are both things, applications and agencies. Sway Ops is a company that specializes in this area, for instance. Moreover, there is an endless range of tools used by agencies to detect fraud in terms of data manipulation by influencers, such as Fake Follower Check.
Traditionally, millennials account for the lion’s share of Instagram followers. Is that still the case? Are there influencers for older consumers?
No, Instagram is now starting to be more for everybody. With a great deal of effort, older people have had to migrate from Facebook to Instagram, but the fact is that the statistics are changing and Instagram has gained a lot of weight among all age groups. It is the favourite social network for many people and for influencer campaigns as of the date of this interview. Moreover, in answer to another one of your questions, there are all kinds of opinion leaders. There are influencers in the fashion sector, such as Iris Apfel, for example.
With respect to younger consumers, if a brand wants to attract them, where should they look for influencers for Generation Z (born between 1994 and 2010)?
As I mentioned, it is crucial to be able to choose the right influencer, who has to click with the target audience that your campaign needs. Therefore, I cannot say that a brand should find an influencer from the same generation, but it may be a good idea. Maybe, a nano-influencer exerts influence on that audience and, as a result, it depends on a good search and selection.
What impact is the Covid-19 crisis having in terms of what brands are asking or needing from influencers?
The marketing departments of brands are getting smaller, just like advertising agencies. Therefore, they may still use influencers but perhaps paying them in kind, with products, rather than the normal financial remuneration. Another clear trend is that marketing departments are using influencer marketing specialists equipped with technology to manage more work with fewer people.