About Nick Hayes

Nick is the Principal and Founder of Influencer50 Inc., the co-author of the book 'Influencer Marketing: Who Really Influences Your Customers?', the chair of the LinkedIn Group 'Influencer Marketing & Influencer Relations' and blogs at thebuyersidejourney.com.

Every purchasing decision features a series of little understood ‘micro-moments’.

Buyerside Journey, Influencer50, Influencer MarketingWhen I look at how Google is investing in analyzing the online buyer’s journey – breaking it down into a series of what it called ‘micro-moments’ – little understood inflection points when the buyer reaches each mini-decision stage – I wonder why most enterprise vendors aren’t doing the same.

I remember talking with the marketing VP of a well-known accounting software co. a few years back and his belief that the only stand-out decision points for buyers of his software were simply “does it have the functionality I need?” and “can I easily integrate it into my existing processes?”. He felt that if they could tick both of those boxes – and the buyer was aware of his firm’s software – then the sale was all but certain. His view was that his audience would be idiots not to choose his software. He was leaving a lot to chance.

Every purchase has micro-moments. If I think back to recent purchases I’ve made, they certainly occurred, even if I hadn’t planned them. With online and mobile purchasing there are now many more than we were used to a decade ago. But they’ve always existed. How many vendors today have really spent time breaking down the steps in their buyer’s journey? I think remarkably few. Respect to Google.

The marketing VP I mentioned clearly didn’t believe in any ‘micro-moments’. I should check if he’s still employed there.

As mobile search overtakes desktop, is personality becoming irrelevant for the enterprise salesperson?

iphone-377887Enterprise salespeople have talked for many years about the critical points in their customer’s buying process. For most it incorporates some combination of the following: the initial realization that a problem exists, the scoping of the challenge, the search for an internal budget champion, the visualization of a solution, the long-listing of possible solutions, the early outreach to potential suppliers, their shortlisting, the internal proof-of-concept, the cost/benefit analysis, the final bake-off, the deal negotiation, and finally the sign-off.

When large sections of this process moved online a decade or more ago, many aspects changed. The timescales, the increasing number of long-listed suppliers, the lack of face-to-face time allowed for the salespeople, the fact that sales were only aware of the prospect’s interest far later in the process, etc. For ten years the majority of salespeople have struggled to adopt to this new way of working. And now the goalposts have moved again.

As online search has increasingly moved from desktop to mobile, so the buying process too has changed. Search results appear very differently on a mobile – the attention span is shorter, the search terms briefer, the convenience and immediacy more important. Online contextual text chat more relevant. Relevance and Immediacy have become watchwords. The right content, personalized, in real-time. The skills required of a salesperson are changing again.

I have a friend who’s worked as an enterprise salesperson for many years. She’s very hard-working, diligent, very engaging personality and always willing to travel. She says her skills are less valued than they once were – what’s the point of a great personality when your opportunities to display it are so reduced? When early-stage decisions have already been made on a mobile screen, only those shortlisted suppliers are now even getting to introduce themselves to the prospect. By then, impressions have already been cast – and that’s not ideal for any salesperson.

What vendors are now looking for are banks of prospect analysts, those who can watch a series of online queries and predict, then instantly supply, the information most likely to be of direct help to that enquiry. Sometimes its a real-world conversation, sometimes a relevant case study, sometimes a competitor comparison and at other times a business RoI argument. Offering the wrong option can kill the opportunity – with little hope of getting it back because you don’t know who’s doing the asking.

Mobile is certainly changing what triggers interest (and disinterest) among would-be buyers. And I think the salesperson will increasingly struggle to find a satisfying role.

Proof of the power of Peer Reviews. Some “used as blackmail”.

Buyer side Journey, Peer Reviews, Influencer Marketing, Influencer50

Fascinating news story on the BBC site about just how influential Peer Review sites can be. Plenty of ethical issues brought up by the counter-arguments in this. Should those being reviewed have the right to equal visibility replies? Should reviews with clear factual mistakes be removed? Should review sites be able to choose not to publish extreme reviews?

According to the BBC article, written by Kevin Peachey, “Businesses are ambushing rivals with fake reviews and customers are using the threat of online criticism to win discounts, research has found.

Allegations have been made of people “blackmailing” firms with poor reviews to get money off, the Competition and Markets Authority (CMA) said.

Review sites may leave negative commentary unpublished to allow firms to resolve complaints, the CMA added.

Consumers could be unaware that some endorsements in blogs were paid for.”

For the full story, http://www.bbc.co.uk/news/business-33184207

 

Influencer50 launches new ‘exec benchmarking’ subscription service

ProgramBadges.Benchmarking

We just issued a new service allowing clients to benchmark the influence of their own execs against those of their top competitors – something we’ve been doing informally for a while now. Here’s the official announcement.

Influencer50 has launched a new subscription service by which companies can have their chosen executives benchmarked for influence against each other, or against execs from competing companies. Our new Executive Benchmarking service is based on our award-winning offline, online and social influencer methodology.

Influencer50’s approach to Influencer Identification differs from those of other ‘influencer’ companies in our focus on real-world prospect & customer influencers rather than the currently trendy ‘blogger influencers’.

Each executive is rated on seven fixed criteria – Market Reach, Frequency of Impact, Expertise, Persuasiveness, Thoroughness of (Customer) Involvement, Peer Group Citations and Online Connectedness. Each of these criteria is applied with their ‘customer influence’ potential in mind. Clients are also able to select one additional measurement criteria.

The objective is to analyze which individuals yield the most influence within the client’s marketplace, and better understand how this influence is both established and maintained. Clients are then provided with custom advice on how they can systematically improve on their influence. No criteria can be ‘gamed’ by over-eager executives or their support staff.

A single subscription spans eighteen months and allows for three separate influence reports allowing subscribers to monitor the changing trends in influence exerted by their execs. Pricing for an eighteen month subscription (one immediate reading, a second at nine months and a final report at eighteen months) is $9490 for up to five execs. or just $4990 for up to two execs. Each report includes a detailed analysis of why each executive rated as they did – and, importantly, how to improve their influence. (Pricing for higher number of execs, or for longer durations, is also available.)

“Time and time again our clients have been as interested in how their own execs fare for influence as they are in who their company’s external market influencers are. Whether for performance measurement, recruitment or marketing purposes, an executive’s personal influence has become a vital factor in how one organization can out-compete its rivals. It makes sense that we now introduce this as an affordable, stand-alone subscription service.” explains Nick Hayes, Principal at Influencer50 Inc.

Influencer50 is a leading influencer identification, engagement and measurement firm operating in the B2B and B2C marketplaces. With offices in San Francisco, London and Sydney we have conducted influencer programs in over 40 countries across four continents.

For more information go to influencer50.com/benchmarking

A question about influencers that was just too good for me

Once in a while clients ask a question of our work that at first I think so basic but then later consider almost inspired. Just such a moment occurred last week.

I was presenting the results of a client commission in mainland Europe when a senior manager at that client asked if we could clarify which influencers influenced internally i.e.. within their own organisations, and which influenced primarily outside their organization.

In the back of my head several responses came to mind. From ‘does that really matter?’ to  “how could we measure that?” to “would knowing the answer affect your interest in them?”. And even “is there an answer to that?”

Thanks Susanne, whether you meant it to be or not, it was a great question. And I’m still thinking of a worthy answer.

Reblog: An Expert Makes Influencer Marketing Easy for the Influencers Read from OnlineVideo.net’s – An Expert Makes Influencer Marketing Easy for the Influencers

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Thanks to Marcy Massura of MSL for this. Once more, it’s stuck on the assumption that ‘influencers’ by default means ‘social influencers’ but it still makes some worthwhile points.

http://www.onlinevideo.net/2015/04/an-expert-makes-influencer-marketing-easy-for-the-influencers/#ixzz3bGOqVHFz

How do these ‘social influencer’ peddlers still exist?

In the B2B sector every in-house Marketing VP, Audience Manager or C-level immediately understands that their organisation’s customers & prospects are primarily influenced offline and through online search. Those that meet their customers know that these people aren’t glued to Hootsuite all day long, picking up whatever’s being posted on Twitter, Facebook et al. They laugh at even the thought of it.

So it still bemuses me there are other self-appointed ‘influencer platforms’ that effortlessly transpose the word ‘influencers’ for ‘social influencers’ so as to promote their own Twitter- or blog-trawler software. I used to wonder how these companies exist – because if they met any of the corporate buyers I meet they’d be laughed out of the office. In perhaps every B2B sector that I know of, ‘social influencers’ are in the very extreme minority – less than five per cent.

Then I came to understand how these platform providers exist. They sell to marketing agencies. And marketing agencies just don’t care about real market influencers – they care about numbers of people who they can outreach to. The game is to continuously ‘top up’ those outreach numbers. Even if those people have only the most tenuous connection to their client’s sales prospects.

So why don’t the in-house managers spot this and call out their marketing agencies? Because too many in-house managers themselves never meet real sales prospects. And so also have no understanding of who they’re really influenced by. This cycle has to stop.

Reblog: Lithium’s view on identifying brand advocates

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I certainly don’t always agree with Lithium’s take on identifying & working with influencers, but fair play to them, this blog from Rob Tarkoff posted to SocialTimes makes sense to me.

http://www.adweek.com/socialtimes/rob-tarkoff-guest-post-brand-advocates/620414

Company offers a guarantee on how its social influencer marketing campaigns will perform! Oh dear.

When a company makes the following promise to its clients … I know they’re measuring the wrong thing. If only buyers were so predictable.

A firm describing itself as “a leading shopper social media company, announced today that all clients will receive guarantees on how social influencer marketing campaigns will perform before campaign dollars are invested. Through its new Guaranteed Engagement offering, (company name) brings a unique level of confidence to the online marketing world.”

Confidence in what?