Influencer marketing, especially featuring sports influencers, is gaining more and more attention. In a global study by Augure late last year, 70% of the companies surveyed said they expect to maintain or increase their spending on influencer campaigns, while only 3% expected to reduce it (the remainder weren’t sure).
It’s easy to see why. It can be inexpensive, sharply focused and creative – a great way to cut through the clutter of market messages bombarding consumers every day.
And it’s effective. Marketing-inspired word-of-mouth generates more than twice the sales of paid advertising, and these customers have a 37% higher retention rate, according to the consulting firm McKinsey & Co.
Then why do so many influencer campaigns fail?
For starters, there are a dizzying array of options among influencers, marketing channels and other options
Even some of the best known brands and most experienced marketers have fallen on their face with misguided efforts, when it comes to social media marketing in general.
In this case, from June, Microsoft ran afoul of policies from the major search engine, including its own Bing, when its instructions to potential supporting bloggers to make it clear Microsoft was not seeking credit for the link.
This was the aborted result of a simple idea under the hashtag #AskJPM to open a Q & A between Jimmy Lee, Vice Chief Executive Officer of J.P. Morgan, and anyone who interacts with the venerable banking giant. The company underestimated the torrent of negative comments provoked by the hashtag, such as:
So why do so many social media campaigns, in particular influencer marketing campaigns, fail? Because it’s easy to launch an influencer campaign. But it’s a lot more challenging to start, and sustain, an effective one.
There is almost no end to the potential pitfalls that undermine so many influencer campaigns.
– Seeking the right influencers for you brand and your particular marketing objectives.
– Finding the right influencers, but failing to attract them with an uninteresting or insufficient offer.
– Providing too much direction to your influencers, so their endorsements seem forced.
– Providing too little direction to your influencers, making it harder for them to meet your expectations.
– Featuring too many calls to action, or neglecting to feature any call to action at all.
That’s why Mark Fidelman, Raynforest’s CEO and a regular contributer as the Socialized and Mobilized columnist for Forbes, will be leading a free webinar on Nov. 20 from 10:30-11:30 a.m. PST called, “Developing an Effective Influencer Marketing Strategy for Your Brand.” Mark’s insights have been featured in has been featured in The New York Times, TechCrunch, and ReadWriteWeb, not to mention dozens of popular presentations.
“Developing an Effective Influencer Marketing Strategy for Your Brand” will provide an easy-to-follow, step-by-step method to create an influencer marketing campaign with real impact.
The one-hour session will include:
– Examples of wildly successful influencer marketing campaigns, and the 6 proven steps to duplicate them.
– How to make sure your influencer endorsements are authentic.
– How to match the right influencer with the right product.
– How to create content that reaches out and grabs the prospective customer base.
– Why sports influencers are especially powerful.
– Why your company should include sports influencers in your campaigns, even if your product or service is not sports related.
Yes, I write for Raynforest. So maybe I’m biased. But I’ve seen several of Mark’s presentations, so I can promise you: It will be one of the most valuable hours you spend this year to improve your business.
To sign up to attend the webinar, just click here.
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