7 BIG IDEAS From The Influencer Marketing Conference At Affiliate Summit West 2019

TL;DR

Seven key takeaways from influencer marketing at Affiliate Summit West 2019.

Transcript

hey miles here miles becker.com this video reveals the seven key takeaways from the influencer segment of the affiliate Summit West Conference in 2019 in Vegas now before I jump in I've got seven specific notes from yesterday's sessions it was all about influencer marketing and before we get there I want to know what is your take on influencer mark... Read More

Key Insights

• Influencer marketing is still a developing field, likened to the 'wild west,' with no definitive strategies established yet, highlighting its novelty and evolving nature.
• The definition of an influencer is someone who can capture an audience's attention and drive them to take specific actions, differing from traditional affiliate marketers who focus on direct sales.
• Metrics in influencer marketing are transitioning from vanity metrics like likes and views to more meaningful engagement metrics, such as deep comment threads and actual sales attribution.
• Micro-influencers are gaining prominence due to their deeper engagement with niche audiences, providing better ROI compared to large-scale influencers like celebrities.
• Creating a media kit and rate card is essential for influencers to effectively communicate their reach, engagement, and pricing to potential brand partners.
• Pricing for influencer marketing is highly negotiable and subjective, with no standardized rates, often based on the influencer's desired income and willingness to post.
• Platforms like Tinysponsor.com can help influencers gauge pricing, but direct negotiation with brands often yields better deals and long-term partnerships.
• Retaining creative control is crucial for influencers to maintain authenticity and audience trust, ensuring that brand promotions align with their personal style and audience expectations.

Questions & Answers

Q: What is the current state of influencer marketing?

Influencer marketing is described as the 'wild west,' indicating that it is still in a developing and immature state. There is no single right way to approach it, and strategies are still being formulated as the industry matures. This reflects its novelty and the ongoing evolution of best practices.

Q: How do influencers differ from affiliate marketers?

Influencers primarily focus on capturing audience attention and driving specific actions, such as likes or subscriptions, rather than direct sales. Affiliate marketers, on the other hand, aim to generate sales through value-driven content that solves specific problems for their audience, making their approaches distinct yet complementary.

Q: What are the new trends in influencer marketing metrics?

Influencer marketing metrics are evolving from vanity metrics like likes and views to more meaningful engagement indicators. Brands now focus on metrics such as deep comment threads, click-through rates, and actual sales attribution to assess the effectiveness of influencer campaigns, moving towards more tangible and real-world data.

Q: Why are micro-influencers becoming more popular?

Micro-influencers are gaining popularity because they offer deeper engagement with niche audiences, leading to better ROI for brands. Unlike large-scale influencers, micro-influencers have a more targeted and engaged following, allowing brands to reach their exact target audience effectively and often at a lower cost.

Q: How should influencers approach pricing their services?

Pricing in influencer marketing is highly negotiable and subjective, with no standardized rates. Influencers often base their pricing on their desired income and the number of sponsored posts they are willing to create. Some use platforms like Tinysponsor.com for guidance, but direct brand negotiations typically yield better results.

Q: What role does a media kit play for influencers?

A media kit is essential for influencers as it outlines their reach, engagement, and pricing to potential brand partners. It serves as a professional document that communicates the influencer's value, making it easier for brands to understand what they offer and how they can benefit from a partnership.

Q: Why is retaining creative control important for influencers?

Retaining creative control is crucial for influencers to maintain authenticity and audience trust. When influencers can communicate brand messages in their own style and language, it ensures that promotions align with their personal brand, leading to better engagement and preserving the integrity of their relationship with their audience.

Q: How can influencers maximize their value to brands?

Influencers can maximize their value by diversifying their platforms, creating a media kit, and retaining creative control. By having multiple channels, such as Instagram, YouTube, and email lists, influencers become more valuable. Additionally, engaging directly with brands and negotiating deals tailored to their audience's needs can lead to successful partnerships.

Summary & Key Takeaways

• The video discusses the evolving landscape of influencer marketing, emphasizing its current state as a 'wild west' with no established norms. Key insights include the importance of meaningful metrics over vanity metrics, the rise of micro-influencers, and the need for influencers to maintain creative control.

• Influencer marketing metrics are shifting from likes and views to deeper engagement measures. Micro-influencers are becoming more valuable due to their niche audiences, and creating a media kit is essential for influencers to communicate their value to brands effectively.

• Negotiating pricing in influencer marketing is subjective, with no standard rates. Platforms like Tinysponsor.com can provide guidance, but direct brand negotiations are often more fruitful. Maintaining creative control is crucial for influencers to remain authentic and retain audience trust.