Influencer Marketing: Where to Place Your Bets in 2017 by Tapinfluence

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Today is the second day of Influencer Marketing Days in New York City. The morning kicked off with Barbara Rozgonyi sharing her experience as an influencer. Following Barbara’s presentation, Laura Smous (@laurasmous) of Tapinfluence (@tapinfluence) provided 2017 influencer marketing predictions…

Today is the second day of Influencer Marketing Days in New York City. The morning kicked off with Barbara Rozgonyi sharing her experience as an influencer. Following Barbara’s presentation, Laura Smous (@laurasmous) of Tapinfluence (@tapinfluence) provided 2017 influencer marketing predictions

The influencer economy has changed the way consumers buy things…forever! The reality is that we can’t reach consumers the way brands used to. Dips in traditional advertising are causing reluctant marketers to turn toward affiliate marketing. Traditional marketers are simply running out of effective options.

These changes are rapidly changing, even in the last 3 months. A great example is Vine closing down this month. As a marketer, you want to align with the social media platforms that best tell your story, but you also need to be nimble. It is essential to be aware of the latest developments which is why Tapinfluence’s predictions for 2017 should be in the forefront of all marketers’ minds.

Micro Influencers Rule

Micro influencers have higher engagement rates than mega influencers. This engagement comes from the ability of the influencers to be responsive and closer to their communities. Many brands see better results with these smaller, niche influencers. There is a place for celebrities, but the smaller communities are what drive purchase intent.

Micro influencers will also rise due to supply and demand. As larger brands do more influencer marketing with the mega influencers, these larger influencers are going to be tapped. Bloggers can only do so many sponsored posts, roughly twice a month, before they lose credibility. If the influencer is doing sponsored posts too much, his or her audience will fall away. As such brands will tap into the larger pool of small to medium size influencers. Brands will work with a much higher number of influencers and as an aggregate they will add up to one mega one.

Definition of Influencer Marketing With Morph Regularly

The definition of influencer marketing will continue to change and adjust in 2017. With the last six to eight months, the definition has shifted based on how brands are looking at the data. Data is becoming more important and will be further defining this marketing channel.

Brands need a 360 degree view to get the return on investment with the following information:

  • Performance data – knowing engagement, what content and platforms work best and what is the cost per engagement.
  • Influencer Data – traditional ways to find influencers, such as what they like to talk about or who their community, is will still be important.
  • Audience Data – who the influencer is, is not always reflected in the audience. Many times the audience doesn’t even share in interests. Brands will need information on the audience composition.

Marketers are shifting away from the manual process to optimizing campaigns. Instead campaigns are being optimized during the actual campaign.

Marketers already know how to do Influencer Marketing. Simply use the best practices from traditional marketing tactic. Marketers will move away from vanity metrics like reach and focus on data that can help them optimize live campaigns. There is not one “God’ metric for content.

Measurement in 2017 Will Be Engagement and Sales Lift

  1. Optimize for one outcome.

Influencers need to focus on one outcome and optimize it. Marketers will still measure other outcomes but it will be important to focus on one.

  1. Online and Offline Experiences Will Continue To Blur

70% of people are watching TV or looking on smartphones as a precursor to a purchase. This is especially true for food brands. Pinterest has a strong influence on consumers to decide what ingredients buy and what to make/recipe.

Most Millennials learn to cook from YouTube not their mothers – The Hartman Group

39% of consumers report having made a purchase of some kind (many not food relate) from their kitchens – Google

  1. Proven Sales Lift

Food brands have led the way with proving the sales lift on and offline. The Fashion and Beauty industry following closely behind in maturity within the field. Tapinfluence recently did a study on how influencers impact online and in-store sales lift. Through a partnership with Nelson Catalina, Tapinfluence was able to provide a concrete connection between the campaign and in-store sales. The results were outstanding providing 11 times the return of traditional advertising. Since the content from these campaigns are evergreen the results continue to rise. It is important to realize that influencer campaigns can take 6-8 months for complete results.

5. Rise of Real Time Social

Live videos, such as Facebook Live, Snapchat, and Instagram Stories, are fundamentally changing how consumers interact with video. It is also forcing brands to loosen the restrictions on influencers thus creating more genuine and engaging content. Live videos are watched by consumers 3 times longer than traditional online videos such as YouTube. Reactions are boosting almost everything by north of 5%, 20% or 30% of a page’s audience interaction

52% of influencers cite ‘overly restrictive content guidelines’ as the biggest mistake brands make when working with influencers #influencerdays via @ laurasmous

Additionally, live videos are a great way for brands to gauge how audiences/consumers react to their products/services or brand.

Influencer Marketing No Longer JUST A B2C Play

Business to business marketers are realizing and experiencing the power of influencer marketing. There is room for exposure and leaders in the B2B world especially for early adapters. It is a great way to set yourself apart as a marketer and company.

Influencer marketing gives small businesses a way to maximize their resources and get exposure previously only available to large spends. Influencer marketing is effectively leveling the playing field and producing a higher ROI.

B2B will capitalize on micro-influencers. There will not be as many people that are experts with a B2B product as a result the weight of a smaller influencer will be greater. As B2B brands become more like a lifestyle brand, the integration into influencer marketing is an obvious fit. It really is H2H Human to Human. Buying on a personal level of what it will do for their career and company. Influencer marketing unifies the customer experience. Infuencer marketing provides a great consumer experience that is seamless. Experts and everyday people can create a more authentic experience of what it will be like to be a customer.

As high growth B2B companies become media darlings, people attach personal significance to brands they use at work @tapinfluence #influencerdays

As B2B participates more in influencer marketing, measurement with reign. Business marketers are more comfortable with measurement. Technologies and Platforms will become more complicated, especially for enterprise level marketing teams are leveraging 60 to 80 different marketing technologies – Demand Gen Report

Transparency and Authenticity Is Key

Transparency is going to be more and more important with a focus on spirit and technology. There will be a clear picture of value. Authenticity is going to remain the name of the game. Ensure your influencers goes beyond just adhering to FTC disclosure regulations and embrace spirit of honesty, in all sponsored content

The Rise Of Small Agencies

Small marketing agencies that focus on influencer marketing will have an astounding opportunity to thrive. We are seeing large Fortune 100 brands, consolidating their agency rosters. Brands want agencies that innovate and stay ahead of the trend. They are looking for agencies to be nimble. These same brands are selecting smaller to mid-size agencies.

What are your Influencer Marketing predictions for 2017? Do they match some of the predictions by Tapinfluence?

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