Influencer marketing has come a long way since the days of trading free products for social shoutouts. Today it’s big budgets, matching expectations, and a new set of challenges to work through.
I recently sat down to have a chat with Robyn Nissim, Fractional VP of Social Media + Influencer Marketing at Social Proof Agency. She is a social media expert with 14 years of experience and she broke down how you can get the most out of influencer marketing in 2024.
That’s what we’ll cover in this blog, but we get into much much more in the latest episode of The Marketing Factor, including:
Watch here:
Times have changed quite a bit in less than a decade. Influencer marketing has gone from trading free products for social exposure to being a core element of marketing strategies. Because of this, both small and large creators are charging more, so the folks signing off on these budgets expect to see returns on their investment.
Robyn stressed approaching influencer marketing with the same attention-to-detail as traditional channels. Develop detailed plans that outline: specific objectives, execution details, and how these campaigns align with business goals.
The bosses love when you can show how your strategy aligns with KPIs - if you do that, you're much more likely to land the money you’re looking for.
But measuring influencer impact isn’t really cut and dry - so what are your options?
Influencer posts aren’t always directly tied to sales, especially for products like B2B services. So how do we measure success in a way that reflects the value of influencer marketing?
Robyn shared her experience working with brands like Michelin, where they focused on reaching new audiences, rather than selling tires. This meant thinking beyond direct sales attribution and defining success in terms of:
For Robyn, the key is setting these non-traditional KPIs before launching your campaign. Be clear about what success looks like from the start, then you're not scrambling to justify your spend after the fact (hopefully).
Choosing between micro or macro influencers is tricky. With creators asking for higher pay, it isn’t as easy to allocate budgets to both and test a more balanced approach. Robyn broke down how she sees the choice:
"Statistically, since 2016-2017, I've consistently seen that micros outperform macros… I view it this way: macros are for awareness, and micros are for conversion."
Macro-influencers cast a wide net and reach a lot of eyes quickly. On the other hand, micro-influencers have deeper connections with their niche communities which increases responsiveness.
Align your influencer choice with your campaign objectives. If you're launching a new product and need to generate buzz quickly, a macro-influencer might be the way to go. But if you're looking to drive sales with a specific demo, a curated group of micro-influencers could pay off more.
When choosing influencers that fit your brand, how do you identify who will click with your audience?
Robyn suggested looking at your competitors, using a pottery business as an example.
"If you're targeting those people, I would recommend looking at creators who literally are posting for those competitive brands - Maybe they're in a higher price tier, maybe they're more mature, maybe their lifestyle shows they have more disposable income."
This works for pretty much any industry or audience. By checking out influencers who work with similar brands, you tap into an audience that's probably interested in what you're selling. Don’t just pay someone for their follower count, work with the right person who can connect with your audience without forcing it.
I've seen this play out in the surfing world. As a long-time surfer myself, I can spot a kook from a mile away. But when an influencer gets surf culture, uses the proper lingo, and knows their stuff about boards and waves, other surfers eat it up. But if someone's faking it, we can tell, and it's a red flag.
It doesn't matter if you're selling surfboards or software - the principle is the same. The best influencers live what they're promoting. Find people who get your product and your audience, it's what makes followers actually listen and engage.