If Eve of Adam & Eve fame existed, she would have been considered the first influential PR Maven. If she lived today, she would likely have her own reality show. That was the frame I presented in kicking off a panel entitled: ‘Beyond The B.S.: The True Value of Influencer Marketing’ at the second annual Marketing Evolution Summit, which recently brought brand marketers and top-of-their-game influencers together on a panel at the Four Seasons Hotel in Toronto.
The hypothesis going in was that one of the best opportunities for brands to engage with consumers today is with content that is created by key catalysts, thought leaders and third parties who demonstrate significant influence within the target market. As a result, “influencer marketing” has become the phrase du jour – but not all influencers, or measures of influencer engagement, are created equal. There are nuances to consider. To pay or not to pay is an important question, but it’s not the only one. When you break it all down, one size fits all operators need not apply to the influencer marketing industry.
The panelists shared their dos and don’ts, and discussed the vision, process, budgets and tools that every CMO should understand as they navigate this new influencer marketing landscape. Below are five key takeaways from panelists worth remembering:
- Freedom Of Expression: Influencer and brand relationships are a two-way street. Brands shouldn’t try to change an influencers voice. As Erica Ehm, Founder of YMC, the largest Canadian online mom community, said: “Give up some control and gain some soul!”
- Credibility: Payment does not affect credibility of the influencer. Influencers should be paid for their expertise, time and access to their audience. Emma Eriksson, marketing director of General Mills, Cereal said: “I have absolutely no problem paying influencers as long as there is a common interest. We definitely saw the value during our recent #bringbackthebees campaign.”
- Demonstrable PROI: Influencer marketing is a crucial and growing part of the marketing mix, but needs to be done in tandem with other things. “And yes, on some campaigns I would argue that we have seen even higher ROI than the $6.50 for every $1 spent that PRWeek is claiming you cull through influence,” said Angela Scardillo, vice-president of marketing at Best Buy Canada.
- Authenticity Trumps Scale: Influencers aren’t one size fits all. If you go after reach and blindly choose, you may get impressions, but you may also end up in legal trouble. i.e. influencers talking about drugs/alcohol etc. Michelle Slater of Twitter highlighted the importance of making sure your ‘influencer’ followers are the right target demo and not just part of a programmatic ‘pay to play’ scaled media approach, which requires proper vetting and true relationship fostering. It is a longer-term vision.
- Use PR Partners With Gravitas (or ones that rhyme with this): Brands should work with PR partners who will properly guide them on how to get the most out of influencers. They should not be afraid to push back to clients and recommend the best approach to success with influencers. Both Barry Choi, top rated personal finance and travel blogger, and YouTube sensation Andrew Gunadie (also known as Gunnarolla), admitted that their PR agency relationships have as much to do with their interest and enjoyment in working with a brand as the brand itself.
For me, takeaway learning #6 was the realization that PR agencies can be part of the creative “problem” if we fail to push back to clients appropriately. Instead of worrying about having happy clients, we need to focus on our role as strategic counsel. To be blunt, sometimes we just need to have more balls to most effectively fulfil our role – and that’s no BS.
Krista Webster is president of Veritas Communications.
