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    The Digital Deep Dive With Aaron Conant

    Understanding the Current State of Influencer Marketing

    Thu Jun 08 2023
    Influencer MarketingTikTokMetricsCollaborationTestingContent OutlinesMeasuring SuccessPaid StrategyProduct LaunchesStreaming TV AdsSmaller BrandsGrowth

    Description

    The episode covers the rise of influencer marketing on TikTok, key metrics and platforms for influencer marketing, choosing platforms and collaborating with creators, benefits of working with influencer marketing agencies, optimizing content and tracking performance, challenges and strategies for B2B verticals, measuring success and overcoming challenges, and strategies for driving sales and growth. It emphasizes the importance of engagement metrics, collaboration with creators, and testing on a small scale. The episode also discusses the challenges of measuring success and provides insights into leveraging influencer platforms for new product launches.

    Insights

    Engagement Metrics Are Key

    Engaging viewers and receiving positive comments, emojis, and likes are important metrics for video performance on platforms like TikTok.

    Collaboration with Creators is Crucial

    Collaboration throughout the creative process is crucial to create branded content that viewers actually want to watch.

    Testing on a Small Scale is Effective

    Testing on a small scale with paid dollars and seeing which converts is more effective than relying on creators to become brand advocates.

    Content Outlines Drive Success

    Requiring creators to provide content outlines for review before creating allows for adjustments and avoiding reshoots, setting up a campaign for success.

    Measuring Success is Challenging

    The biggest problem in social media and influencer marketing is getting metrics that make executive teams understand the success of their efforts.

    Paid Strategy is Necessary for Sales Lift

    Organic content alone won't result in a giant lift in sales; a paid strategy is necessary.

    Leveraging Influencer Platforms for Product Launches

    Leveraging influencer platforms for new product launches can be a massive win.

    Streaming TV Ads are Popular and Inexpensive

    Streaming TV ads with highly targeted audiences are currently popular and inexpensive.

    Smaller Brands Have an Advantage

    Smaller brands have an advantage in adopting new strategies and platforms quickly.

    Mid-tier and Small Brands Can See Significant Growth

    Mid-tier and small brands that execute well will see significant growth.

    Chapters

    1. The Rise of Influencer Marketing on TikTok
    2. Key Metrics and Platforms for Influencer Marketing
    3. Choosing Platforms and Collaborating with Creators
    4. Benefits of Working with Influencer Marketing Agencies
    5. Optimizing Content and Tracking Performance
    6. Challenges and Strategies for B2B Verticals
    7. Measuring Success and Overcoming Challenges
    8. Strategies for Driving Sales and Growth
    Summary
    Transcript

    The Rise of Influencer Marketing on TikTok

    00:04 - 07:13

    • Influencer marketing has evolved over the past few years, with TikTok playing a significant role in its rise.
    • Brands are now looking to be on TikTok and include TikTok influencers in their influencer marketing campaigns.
    • There is uncertainty surrounding potential TikTok bans, but marketers should still consider being on the platform due to its current popularity.
    • The algorithm on TikTok can be harsh towards branded content, so brands may want to focus more on engagement rather than follower acquisition.
    • Going viral on TikTok is a numbers game, and there is no specific formula for achieving it.
    • Instead of focusing on going viral, brands should aim to beat benchmarks for engagement metrics such as video retention rate and positive comments.

    Key Metrics and Platforms for Influencer Marketing

    06:44 - 13:57

    • Engaging viewers and receiving positive comments, emojis, and likes are important metrics for video performance on platforms like TikTok.
    • The first few seconds of a video determine how many people will continue watching it, so having an engaging intro is crucial.
    • There is no guaranteed formula for going viral, but setting up videos in a certain way can increase the chances of success.
    • Different metrics should be considered based on the campaign's goals, such as awareness, conversions, or app installs.
    • The platform chosen for advertising impacts engagement and cost per view. For example, TikTok may have lower CPV for video views campaigns compared to meta for conversion campaigns.
    • The content setup should align with the campaign goal. Attention-grabbing and organic-looking content works well for awareness campaigns, while conversion campaigns require clear call-to-action upfront.
    • TikTok has gained popularity among influencers and is often preferred over Instagram or meta reels. YouTube shorts is not widely used by advertisers yet due to pricing and result guarantee concerns.
    • Twitter and Reddit can also be valuable social platforms for some advertisers. Twitch offers a different kind of experience but is less commonly used.
    • Meta reels and TikTok are the main platforms used in most campaigns, depending on the client's preferences and targeting needs.

    Choosing Platforms and Collaborating with Creators

    13:31 - 20:27

    • Different social platforms like Reddit, Twitch, meta reels, and TikTok can be valuable for advertisers depending on the campaign setup and targeting options.
    • Finding the right creators for influencer marketing campaigns involves using platforms like CreatorIQ or Tagger to identify creators with the target audience.
    • Researching the creator's brand is important to ensure brand safety and avoid potential issues.
    • When working with creators, it's essential to align their personality with the brand's messaging and come up with ideas that feel organic and natural.
    • Collaboration throughout the creative process is crucial to create branded content that viewers actually want to watch.
    • In discussions between brands and influencers, both sides hold power, but a middleman can help facilitate agreement between them.

    Benefits of Working with Influencer Marketing Agencies

    20:15 - 27:21

    • When brands have multiple creators and other marketing initiatives, it can be time-consuming to run an influencer marketing campaign.
    • Agencies that specialize in influencer marketing can spend more time with creators, improving content and strategy before sharing it with the brand.
    • Agencies act as middlemen, understanding the concerns of both creators and brands to find a solution that satisfies everyone.
    • Budget and time constraints determine whether a brand should bring in an agency or handle influencer marketing themselves.
    • If budget is limited, it may be better to do it yourself but seek advice from someone experienced in the industry.
    • Smaller creators who can create the desired content style are recommended, as algorithms make it hard to guarantee viral success.
    • Compensation is advised for smaller creators, with rates ranging from $100 to $1500 depending on their following.
    • Instead of using affiliate models for small brands, working with small creators who allow you to own the content and repurpose it for paid ads is suggested.

    Optimizing Content and Tracking Performance

    26:57 - 34:16

    • Testing on a small scale with paid dollars and seeing which converts is more effective than relying on creators to become brand advocates.
    • Working with small or mid-sized creators who have tried the product organically can be a good strategy, but it may not be scalable.
    • Negotiating usage rights with larger creators can be costly, so it's important to only ask for what you need.
    • Content matters the most in influencer marketing, and having multiple pieces of content allows for optimization and promotion of the best performing ones.
    • Twitter's move towards video-focused content is an interesting trend to watch, but it's important to be cautious about early adoption of new platforms.
    • Repurposing vertical content across different platforms can be effective due to similar viewer expectations.
    • There are no specific new verticals mentioned, but brands should not dismiss certain verticals without thorough testing.

    Challenges and Strategies for B2B Verticals

    33:49 - 41:14

    • B2B verticals can be challenging on major social platforms, but combining niche audiences and finding micro communities can be effective.
    • The number one mistake brands make is trying to include too much in one video, such as requiring multiple actions from users.
    • The number one must-do for a successful campaign is requiring creators to provide content outlines for review before creating, allowing for adjustments and avoiding reshoots.

    Measuring Success and Overcoming Challenges

    40:55 - 47:42

    • Content outlines help align everyone and set up a campaign for success.
    • The biggest problem in social media and influencer marketing is getting metrics that make executive teams understand the success of their efforts.
    • Executive teams want simple metrics like return on ad spend, but it doesn't always drive incremental sales.
    • Tying back incremental sales on different platforms is a challenge.
    • There's a lack of information around platforms like YouTube shorts and TikTok.
    • Tracking progress and data has become more difficult due to changes by Apple.
    • Multi-touch attribution tools are sought after, but there isn't one that people are confident in.
    • Experimentation with running ads and measuring lift and increased sales over time is still effective.

    Strategies for Driving Sales and Growth

    47:18 - 54:08

    • Running ads and driving to specific goals is an age-old experimentation.
    • Hiring creators doesn't guarantee an instantaneous lift in sales.
    • Organic content alone won't result in a giant lift in sales; a paid strategy is necessary.
    • Creators should design compelling content on the platform and put pay behind it for results.
    • Owning content allows for promotion and monetization as desired.
    • Leveraging influencer platforms for new product launches can be a massive win.
    • Driving off Amazon traffic to a landing page can increase brand awareness and conversions.
    • Streaming TV ads with highly targeted audiences are currently popular and inexpensive.
    • Targeting and ad type selection are important considerations for streaming TV ads.
    • Streaming ads allow for direct attribution if someone buys after seeing the ad.
    • Smaller brands have an advantage in adopting new strategies and platforms quickly.
    • Mid-tier and small brands that execute well will see significant growth.
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