Our new InfluencerCommunities subscription service

InfluencerCommunities.com, Influencer Communities, Influencer50, Nick Hayes, The Buyerside Journey.comWe’ve recently launched our new InfluencerCommunities subscription service. Here’s why. There’s a massive disconnect between the importance of an industry sector’s most important influencer communities, both online & offline, and the attention paid to them by vendors’ marketing depts.

According to InformationWeek, special interest communities featured in the top five most likely sources of vendor information for prospective purchasers (both at initial problem scoping and at vendor choice stages).

And while over three-quarters of B2B industry marketing heads rate their industry sector’s main forums & communities (both online and offline) as very important in influencing their prospects, less than one-third are confident their company has ongoing, proactive relationships with those top communities.

So companies really need to know which online & offline communities are the most influential in their sector. Which they should monitor, which to ignore and which maybe to join. Where are their industry’s most important conversations going on and who’s instigating them?

And it’s not just about which communities have the most members. Are their members those people moving & shaking the sector or are they just … followers? Which of their sector’s top influencers are members? And what should they do to engage with those people once they’ve identified the most important ones?

Our new Influencer Communities subscription service answers all of the above and more. We expect it to become one of our most popular services.

 

 

Ogilvy’s Christopher Graves: Genuine Influence can’t be bought

Screen Shot 2015-07-30 at 7.50.20 AMIt’s easy to glaze over when we all read the word ‘influence’ one more time. I see so many brainless articles on the subject. So this story, in PR Week of all places, jumped out yesterday. At last – someone talking sense on the subject.

Here’s a flavor:

“The very word ‘influence’ is being thrown around in many contexts and some completely abuse the real meaning or conflate it with popularity.

Real influence means to convince someone to choose to do something on their own—without threatening them or bribing them—which they would not otherwise have done. That’s much tougher to come by. It is earned through sustained relationships, and not fleeting or dependent on compensation.

Influence is a demonstrable chain of persuasion from person to person leading to new attitudes and behaviour. Having a large audience does not necessarily mean wielding influence. Views and likes are not measures of influence though they may correlate or be coincidental.”

Thanks to PR Week and Christopher Graves, Global Chairman of Ogilvy Public Relations. I couldn’t agree more.

http://www.prweek.com/article/1357843/opinion-genuine-influence-cant-bought

 

 

 

Why aren’t in-house vendors & brands talking about their Influencer Programs?

How come we rarely hear from the brands themselves about the success of their Influencer Programs? Rarely a day goes past I don’t hear or read of marketing agencies touting their skills at working with ‘influencers’, of successes achieved or local awards secured. Many of these stories come with the flimsiest of evidence – mid-range bloggers saying how thrilled they were to work with the brand, a regional magazine writing a fluff-piece about a local agency, or the agency itself spinning numbers of ‘passionate brand advocates’ they’ve engaged with. But rarely do the brands themselves do the talking.

Are they just too busy? – maybe, do they not want to tout figures for reasons of commercial advantage? – maybe also, or perhaps the agencies are just more motivated to shout their perceived successes. All I’m sure are a factor but I think it’s primarily something else.

I think the metrics agencies are working towards just aren’t the same ones that the brands are. The agencies may well be satisfied with seeing a rise in fans, retweets, impacts and OtS (opportunities to see). But this isn’t enough for the brands. The C-level execs running them know these measures aren’t strong enough to bring in new customers, or even move new prospects far along the pipeline.

Until they can tie those important measures into their influencer programs I think they’ll be staying quiet.

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?

Reblog: The Rating Game: Are “Influencers” Swaying the Score of Online Product Reviews?

Screen Shot 2015-05-26 at 8.04.11 AM

The title says it all. Makes sense to me.

Thanks to itbusiness.net for the story.

http://internet.itbusinessnet.com/article/The-Rating-Game:-Are-quotInfluencersquot-Swaying-the-Score-of-Online-Product-Reviews-3850632

Are PR agencies telling their clients the truth about their ‘blogger influencers’?

I’m fascinated by the response I get when I talk to senior marketing folk within US corporates. I met with one last week – a >$10bn consumer goods co. – and after a while our conversation moved, inevitably, onto ‘blogger influencers’. Immediately the execs in the room distanced themselves from any interest in courting them. They said they’d implemented a policy of not working with ‘pay for play’ bloggers, that they agreed those people had no credibility with their audience, and certainly didn’t want to subscribe to any blogger database. I was pleased to hear it.

But I keep reading about the “growing success” of several of these ‘blogger influencer’ database companies – the ones that marry up ‘pay for play’ bloggers with vendors willing to commission them. I looked a little deeper the other day – looking at who those companies claim to be their clients. Their client lists showed few brand-name vendors but plenty of PR agencies. And there’s the distinction. Agencies are their market.

Brand-name vendors can immediately see through the folly of these database trolls. I’ve written several times on this. Any blogger signing up for ‘pay for play’ is signing away both their credibility and any previous influence. The fact that almost none overtly acknowledge their paid endorsement is proof that the bloggers realize this too. But most PR agencies don’t seem to care. They can tell their client they’re increasing their reach, that they’re trying new channels, that they’ve forged new relationships. In many cases I’m sure they’re not even telling their client they’re having to pay for each blogger’s posts.

Clients may not have asked their agencies these questions, or at least done so only superficially. I think those questions are being asked more forcefully now. And agencies will start to get uncomfortable without better answers than they currently have.

Anecdotal evidence of success is vital for continuing any Influencer Engagement program.

EngagementCover.peel3Point 3 of six learnings from our Influencer Engagement Programs is that anecdotal evidence of success is vital for the continuance of any program – yet companies rarely have any way to record this.

Some clients like their engagement programs to be fluid – they believe in them because they know they make sense. Others prefer them tightly orchestrated and documented to the smallest detail. Some of ours have been detailed on Excel sheets with more formulas than I’d have believed possible. But one force has been proved, time and time again, to be more powerful than almost any other, aside from the cold cash of a direct resulting sale. Executives with personal anecdotes. A hundred actions, responses, metrics and the like are nothing compared to a client exec. with the power to approve budget saying “I was at a customer the other day and he was absolutely being influenced by (Influencer X)”.

It might not be scientific proof, or even driven by any kind of data, but one anecdote from the right executive and everyone down the chain falls into place. That’s why senior salespeople are so useful, and perhaps critical, to have on-board though the engagement process. They keep the budget in place during the inevitable dips in more tangible progress.

What’s particularly interesting is how few companies have any existing framework to collate such anecdotes. If the quote comes in as an email it can obviously sorted in a particular folder, or simply printed out, but beyond this, it just doesn’t happen. Yet every engagement program needs to harness these quotes, capturing them at the time and reminding senior management of them at key points down the line. Short-form video is by far the best format, way better than just audio and a hundred times better than an email – yet none of our clients have ever established this without us suggesting it. The quality of cellphone video is now more than good enough and iOS, Android and WindowsPhone can all transcribe to text from video. Collate the various video clips in an online database, even an iCloud Photo or Flickr album will do, and integrate them into your next program or performance review. You’ll be amazed how powerful they’ll prove.

The second of six learnings from our Influencer Engagement Programs

EngagementCover.peel2

Point 2 (of 6). Many critical influencers don’t have any existing relationships with our clients. We’ve recently concluded one of our Influencer Perception Audits for a client of ours – one of the best known global software companies. One you would imagine knew everybody who mattered.

Having identified the top market influencers in a particular business sector we conducted a one-to-one audit on how each of those identified influencers currently viewed our client in that sector. One of the questions we asked was ‘ Do you have any existing working relationship with any of (our client’s) point executives, and if not, is this something you would like to have?’ It’s a typical starting point question we ask so we’ve come to know the likely trend in responses. The findings are made more interesting by the fact that in advance of the audit, we ask our client which influencers they already have a working relationship with.

As emphasized in our most recent audit, our client’s execs typically believe they have existing working relationships with perhaps 50-60% of the individual influencers. Sometimes it’s less, but rarely more. When we ask those identified influencers the same question, closer to 20% believe they have a working relationship with any of our client’s execs.

How much of this ‘over-belief’ by the client’s execs is just the bravado of human nature, how much is “I might have met him/her only once but I’m sure they’ll remember me”, and how much is the assumption that “it may not be me personally that knows him/her but I’m sure one of our team must know them”, is impossible to say. But our experience shows that it is never the case that the influencers believe they have a better relationship with the client than vice-versa. Clients always over-estimate the strength of their relationships. Sometimes by an astonishing degree.

It makes me wonder to what degree this also relates to the executives’ working relationships with their prospects & customers. How accurate is their gauging of the strength of those relationships? If there were a similar 30-40% gap between opinions then that could explain plenty of lost sales.

Aside from informal surveys such as ours I’m not sure how many vendors seek to qualitively measure the strength of their existing relationships. The acid test most used – “did you win the sale?” – is a winner-takes-all moment in time, with no opportunity for a second attempt. So the homework needs to be done in advance. Starting with the customer’s key influencers.

The first of six learnings from our Influencer Engagement Programs

EngagementCover.peel1I was putting together a presentation on our Influencer Engagement Programs last week and thought it might be useful to outline some of the key learnings we have. There’s way more than six but I’ve chosen six and I’ll write about each in separate posts.

Point 1. Marketing depts. are still heavily, and rigidly, compartmentalized. And that’s a problem. The influencer model requires breaking that apart. As soon as we’ve identified the key customer influencers for a client, those influencers are then typically segmented into those the client routes to the PR agency, those to the social media team, those to the AR folks etc. Those that can’t be dispatched to these teams are mentally put into the ‘others’ category. Most companies have little existing mechanism to deal with these others. Through no fault of their own, they’re considered ‘awkward’ to accommodate. The cause is that their benefits are ‘awkward’ to measure.

Let’s go back one step. Marketing depts. are intrigued by who the individuals really influencing their customers are. There’s a genuine interest to find out. And an excitement with the ‘identification’ results – the feeling of a new dawn. But when they do find out, clients rarely have the internal structure & processes to act on this new knowledge. And then they can stumble.

Marketing depts. don’t have to break anything to commission us to identify their real customer influencers. They have to have interest, and a budget. But to act on our findings they often do have to break something internally. Because much as they’d like to create a new way of interacting with these new-found influencers, they’re restricted in how to deal with them by the existing fiefdoms within their organization. And they get into people-politics.

How do they choose to engage with the single consultant, who occasionally blogs, sporadically contributes an article to a trade mag., but who regularly consults to a number of large prospect opportunities? The PR team doesn’t want to lose that person from their long list of journalists, even though they’re never going to be a priority on that list. The client’s consultant relations team hasn’t the resource to proactively engage with small consultants either, preferring to spend their time with the much larger consultancy brands. And in terms of the influencer outreach program, how do you measure the value that influencer contributes when they act only as a background advisor to one or more prospect companies? Keeping them ‘onside’ with you costs time, patience, budget, and your influencer program needs to show a return on investment each quarter.

PR depts. and agencies think they have a hard enough time justifying their own existence – yet their traditional focus on journalists & the media means their eventual return can at least be measured in column inches, site stats, audience ratings, etc. AR teams can find they have a harder job because often only the analysts’ written reports are seen as tangible returns, when their actual role can be much broader. But how do you persuade your bosses of that? Yet compared to other categories of influencer, the returns from AR & PR activity are relatively simple to display on a PowerPoint chart. And that’s what seems to count. When each category of influencer may require a slightly different RoI metric to reflect the success of your outreach, it needs a particularly motivated, secure, senior and understanding client executive to support the ongoing engagement stage.

No surprise then that so many marketing depts. opt for the instant, though sugary, gratification of social media outreach. All those retweets, shares and weblogs look so much better on a PowerPoint graph. Whether they have any effect on sales is a very different argument.

As a vendor, what would you most like from what you consider your Influencer Marketing outreach?

Influencer50, Influencer Marketing, As a vendor, what would you most like from what you consider your Influencer Marketing outreach?Influencer50 will shortly be conducting a survey of Heads of Marketing at B2B organizations in the U.S. If you’d like to take the survey please let us know. We’ll be publishing the results in late-Jan or early-Feb’15.

There are just five questions.

1. What pain-point incentivised you to commission an Influencer Marketing program?

– Disappointing closure-rate on sales

– Lack of knowledge in new market

– Unfocused marketing spend / allocation

– Need to prove sales / marketing alignment

– Acknowledgement that “we can always do better”

– Other

 

2. What were the core skills you wanted from your choice of Influencer Marketing partner?

– Experience working with similar peer companies

– Greater understanding of B2B decision-making

– Social media expertise

– Already integrated into our Marketing Dept.

– Other

 

3. At the outset of the program what was the single most important outcome you hoped to achieve?

– Understanding the degree to which our prospects are influenced by online / offline / social channels.

– Broadening the reach of our social media outreach.

– Understanding the identities of our prospects’ top influencers.

– A better understanding about how our prospects make their purchasing decisions.

– Near-term conversion of these influencers into sales opportunities

– Other

 

4. Having seen the results, what was the greatest surprise in your eventual findings?

– We already knew most of the influencers.

– The key individual influencers weren’t who we expected them to be.

– There are many more influencers impacting our prospects than expected.

– The balance between offline / online / social influencers was not as expected.

– Those influencers identified have increased our confusion.

– Other

 

5. In hindsight, where do you believe you were previously wasting most budget / effort beforehand, if at all?

– We were reaching out to the wrong people.

– We were reaching out to too many people.

– Our outreach just wasn’t reaching enough people. It’s a numbers game.

– We had no data to justify who we were contacting.

– We were not focusing enough on social media outreach to reach them.

– We were focusing too much on social media outreach to reach them.

– There was no waste. We weren’t previously investing in influencer outreach.

– Other