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

Reblog: Why Word of Mouth Should Be a B2B Marketer’s Top Priority

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Fairly interesting post here from Pam Neely. Contains some hard-to-argue-with stats. Nothing revelatory but further proof of which marketing channels perform best for sales conversion. Thanks to the often excellent Business 2 Community site for this.

http://www.business2community.com/brandviews/act-on/word-mouth-b2b-marketers-top-priority

Fascinating BBC Radio 4’s Womens Hour discussion on ‘influence’

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Interesting discussion recently on the subject of influence on BBC Radio 4’s Womens Hour program. Intelligent people – presenters, writers, business leaders – entertaining views and some of them counter-culture. What’s not to like? The conversation prefaced a ‘Power 100’ listing of women in the world today. Fascinating that they were trying to steer the 100 so as not to unnecessarily highlight those with ‘negative influence’ – Kim Kardashian a given example.

While they discussed at length the various channels though which cultural influence could be conducted these days, there was no consideration to the central question we always ask – influence on what or whom? Without agreeing on that how can you compare one person’s influence over another’s?

Well worth listening to. For those who can access the BBC’s iPlayer service I’d recommend it.

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

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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

The second of six learnings from our Influencer Engagement Programs

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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.

The difference between a typical PR mindset and an influencer marketing mindset.

IMIR logoOne of my roles is to chair the ‘Influencer Marketing & Influencer Relations’ LinkedIn group. It now has well over 900 members, all from the vendor side. It’s not a group for agency staff or contractors. I’ve posted before that we admit approx. 40% of those who actually apply – simply because 60% of applicants don’t meet the entry criteria we’re looking for.

Over the past four months or so, I’ve been approached several times by a very senior in-house marketer with a primarily PR background. They’ve been looking to join and I’ve hesitated. I was concerned they weren’t a good fit. In early Jan I accepted them. Since then they’ve continually uploaded discussion items with links to their own posts on the Forbes management site. The posts are generic management pieces not specific to influencer marketing. It struck me this person is indicative of the gulf between a typical PR mindset and that of (what I hope is) an influencer marketing mindset.

What this person is proving is that she wanted to join our LI group to broaden the distribution for her own posts – more channels equals more eyeballs seeing her work. Even if her contributions weren’t on-topic. That’s the traditional, or at least historical, PR mindset. The influencer marketing mindset is, or at least should be, quality over quantity. It’s about reaching out to perhaps far less people, but that those few are the most important ones, knowing that they’ll relay the intended message to those they themselves find most important, and so on. Rifle-shot not scatter-shot.

So I wonder why someone apparently so interested in joining an influencer marketing forum would then miss the very point of it?

New Influencer50 White Paper: ‘Where’s the evidence for investing in B2B ‘social influencers’?’

HomepageBanner.WP#19Influencer50 has issued the latest in its series of White Papers this week, WP#19, ‘Where’s the evidence for investing in B2B ‘social influencers’?’. It asks why Heads of Marketing in B2B organisations are still believing that social media outreach will reach those people most influencing their sales prospects, when there’s little to no supporting evidence.

It quotes recent research from the American Marketing Association, Neilsen Online, ad agency RSW/US and Influencer50 itself to question the logic of assuming ‘social influencers’ are a legitimate target audience. It may not be what many of those in marketing roles want to hear right now – but it’s a compelling argument.

Available for download at: http://influencer50.com/library/white-papers/

 

ActiveInfluence publishes two papers on ‘Understanding the Influencer Market’

Screen Shot 2015-02-09 at 10.21.59 AMTwo interesting papers were published this week on the subject of ‘Understanding the Influencer Market’. Both are fairly technical breakdowns involving topics like market segmentation, product / market fit and influencer / deployment maps. Very logical and makes plenty of sense. A way better intro to the world of B2B influencers than the ‘social influence’ peddlers.

Paper 1 is titled ‘Taking a Marketing Approach’ and Paper 2 ‘Selecting Industry Analysts’, written by my good friend Richard East at ActiveInfluence in the UK. Richard used to co-run in-house analyst relations at IBM’s EMEA Software Group so what he writes is well worth a read. Available for download at:

http://activeinfluence.co.uk/#/downloads/4587944341