In today’s episode, we speak with Keelyn Lewis, Head of Talent and Brand Partnerships, from Cherry Pick Talent.
Our discussion is a detailed introduction to influencer marketing, and we also discuss a case study where they generated over 56 million in video views on YouTube for a client!
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!
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, however, influencer marketing is 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.
To share an example of how both forms of marketing are different yet similar, let’s look at a sales rep’s pay scheme.
There are generally three ways sales reps get compensated:
- 100% base pay (similar to influencer marketing)
- 100% commission (similar to affiliate marketing)
- 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:
- 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.
- Mid-range influencers have between 10k-200k followers. New brands often look more at follower /subscriber base, but engagement is more important.
- 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.
We go into great depth in the podcast, but, influencer marketing is likely more accessible than many small business owners realize. Yes, it is unlikely that a small business will hire one of the Kardashians to promote their brand, but, there are many micro-influencers that would be a great fit.
Near the end of the podcast, we speak about the many pitfalls that can happen in influencer marketing and why you want an expert in your corner.
Think about this…many influencers are busy building their brand and they may not be easy to contact and communicate with for a brand. Equally, an influencer may have difficulty getting through to a brand about a specific opportunity. Additionally, there are many other roadblocks that could come up such as compensation, creative direction, number of posts needed, guaranteed views, brand mentions, etc.
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.
Most brands don’t want to sound too ‘salesy’ so they focus more on brand awareness and social engagement.
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.
- Awareness – “I think I might need X”
- Consideration – “What are my different options for X?”
- Decision – “Where can I buy X?”
Many app and game brands are able to directly measure results for downloads, so there are some cases where conversions (decision stage) are the goal of influencer marketing.
5. Case Study: We get into a lot of detail on a case study but here are some of the measurable results.
Campaign Snapshot: 47 YouTubers | 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.
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.