Master Modern Marketing Podcast: An introduction to influencer marketing

In today's episode, we speak with Keelyn Lewis, Head of Talent and Brand Partnerships, from Cherry Pick Talent. 

We present a detailed introduction to influencer marketing, and we discuss a case study where they generated over 56 million in video views on YouTube for a client! 

Today's Topics: 

1. What is Influencer Marketing?

Influencer marketing (also influence marketing) is a form of marketing in which focus is placed on influential people rather than the target market as a whole on social media. It identifies the individuals who have influence over potential customers and orients marketing activities around these influencers. Wikipedia

Here is an example of a project Cherry Pick Talent did with YouTuber Wengie. This video has over 11 million views on YouTube and she has 13 Million subscribers! Watch Video

2. What is the difference between Affiliate Marketing and Influencer Marketing? 

There is actually a lot of overlap between affiliate marketing and influencer marketing. Affiliate marketing pays a commission on actual sales generated. 

Influencer marketing is more of a brand deal where an influencer is paid to create and distribute content for a brand - regardless of sales. 

Where the overlap occurs, is when an influencer has a paid brand deal but also can earn affiliate marketing revenue if they generate a lot of sales. 

Typical sales rep compensation is a good parallel in explaining how affiliate and influencer marketing are different but work together.

There are generally three ways sales reps get compensated:

1. 100% base pay (similar to influencer marketing)
2. 100% commission (similar to affiliate marketing)
3. Base plus commission (similar to a hybrid model)

3. Where is Influencer Marketing going and where should a small to medium-sized business start? 

First of all, there are three main levels of influencers: 

1. Micro-influencers have around 5-10K followers. Brand deals are a good way for them to build their status. They could earn around $150/post on Instagram or more.
2. Mid-range influencers have between 10k-200k followers. New brands often look more at follower /subscriber base, but engagement is more important.
3. Macro-influencers have more than 200k followers and could earn 6 figures for a single post! Keep in mind that there is a ton of work on the influencer's side due to the creative, filming, editing, etc. needed to create the content, not to mention their investment in building their audience as well. So, macro-influencers command the largest investment but also present the greatest reward for brands. 

4. How can brands evaluate the results and return on Influencer Marketing? 

There are a number of metrics and results that brands can use to measure ROI, but, engagement is typically the most important metric. 

Additionally, brands don’t want to sound too 'salesy' so they focus more on brand awareness and social engagement. However, many app and game brands are able to directly measure results for downloads, so there are some cases where conversions are the goal of influencer marketing. 

Further to the point above, influencer Marketing can work for all three stages of the Buyer's Journey, but the awareness stage is the most common stage. 

1. Awareness - "I think I might need X"
2. Consideration - "What are my different options for X?"
3. Decision - "Where can I buy X?"

5. Case Study: We get into a lot of detail on a case study but here are some of the measurable results. 

* 47 YouTubers participated | 1 Competition | 3 Charities | 56 Million Views on YouTube! 

RELATED CONTENT: Influencer marketing and online reviews are closely linked as they both increase a brand's online credibility and the level at which they will appear in searches online. The more credible, and the more a brand is engaged with, the more Google will show the brand in searches. 

Podcast: How to Get More Online Reviews Featuring Chekkit

More about Cherry Pick Talent: 

Cherry Pick Talent is a boutique influencer agency that specializes in partnering top social talent with dynamic brands. We have worked with thousands of international influencers in 17 different countries and 6 different languages. We are headquartered in London with offices in Canada and the US; allowing us to work around the clock to make sure that even the tightest of timelines can be met.

Connect with Keelyn Lewis on LinkedIn. 

If you enjoyed the Master Modern Marketing podcast, please subscribe, rate and review the show.

You can also keep in contact with the show sponsor, Farmers Marketing, at www.FarmersMarketing.ca, or www.facebook.com/farmersmktng.