RISE OF THE INFLUENCER
BY CHRISTINA MONIZ According to Shruti Tupe - VP, Eikona PR Measurement and Audit, “Using fake or genuine followers is a matter of ethics and policies. This needs to be debated between the brand custodians and the industry bodies. Having said that, there are many ways in which brands can maximise influencer module through intelligent data analytics.”
Much has been written about influencer marketing, and the rise of the micro influencers, in particular. Several decades ago, when a brand approached a PR or advertising agency for a product launch, the agency would propose a robust marketing and communications campaign – advertising across Print, Television and Outdoor media backed with an equally compelling PR campaign. Today, when a brand approaches a PR or advertising firm, it is presented with the limitless possibilities of Digital and at the heart of every proposal is the influencer community. According to a recent survey by influencer marketing platform Zefmo, nearly 92% marketers will turn to influencer marketing campaigns this year. Who is the influencer, though? And just how much value does the influencer bring to a brand?
SEPARATING THOUGHT LEADERS FROM INFLUENCERS
Marketers and agencies alike agree that digital marketing and social media management are critical for any brand. However, a lot depends on the kind of influencer a brand associates with. Anupriya Acharya, CEO, Publicis Media India, is of the opinion that the influencer community was never, in fact, created for brands. “Influencers have always been an important community, though this community was not created for brands. Brands, of course, can leverage them to create powerful communication that resonates with consumers. Today, with social media at its peak, there are numerous influencers across any sector. What makes them influential is the passion and expertise on a specific subject matter or sector. You can also tell a true influencer from his or her messaging and content. They stick with the subject matter they have knowledge in, and avoid trifling around with any other subjects,” says Acharya.
Vijay Subramaniam, founding partner & Co-CEO at Kwan Entertainment, says that online content demands authenticity, and people respond better to content that they can relate to. “Influencer marketing needs engaging content woven into a context that the target audience finds relatable and believable. Audience backlash arises when the content seems inauthentic,” he adds. Kwan owns and operates an entire digital influencer ecosystem, comprising well known influencers such as Mallika Dua, Bhuvan Bam, Anupama Chopra and Vir Das, to name a few.
THE CASE FOR MICRO INFLUENCERS
Today’s consumers are exposed to a lot more information on a daily basis. Consumers are, therefore, looking to find credible people, thereby making micro influencers more relevant than ever. Salil Murthy, Country Head, General Mills India, elaborates, “There are a lot of macro influencers who have mass followings, and consumers are beginning to wonder if they can really trust them. The waters are further muddied by some bad apples artificially inflating their follower counts/likes and other metrics using automated bots. The bigger influencers are also courted by more brands which leads to dilution of any one brand message and potentially the influencers’ believability.” Micro influencers have a smaller but more dedicated following, making them more credible. “The lack of brand clutter also helps in making micro influencers more authentic – they only endorse brands they really believe in,” Murthy says.
What also works well for micro influencers is that they review products and are willing to respond to consumer queries, which makes them more credible and relatable vis-à-vis macro influencers such as movie stars. As the industry matures in India, businesses are increasingly engaging influencers who drive higher engagement in the form of likes and comments, rather than just their follower count, and have started investing in longterm partnerships. Irfan Khan, CEO, Zefmo, says, “Influencers are also finding out the hard way that they will lose out on their followers (read influence) if they don’t do a healthy mix of organic and sponsored content. We have already witnessed that leading influencers today are endorsing brands ethically and are true to the brand they are associating with. In the influencer marketing space, things are moving in the right direction as the community matures into a viable marketing channel, rather than just the hype that was seen a year ago.”
General Mills’ Murthy also believes the key to extracting the best out of influencer associations eventually lies first in knowing who your consumer is, instead of seeking out the most popular influencers. “A lot of brands start by choosing someone who has a million followers on Instagram and, in the process, don’t really talk to their target consumer in a way that drives engagement and share growth. Brands need to identify who their target customer is, who they are following and which influencers they trust. General Mills in India has partnered with very specific, credible influencers particularly for brands such as Nature Valley and Haagen-Dazs, and we are seeing strong engagement, loyalty and brand growth as a result,” Murthy says.
Kalyan Karmakar, owner of TheFinelyChopped.net blog and well-known food blogger, believes it is essential for influencers to work with brands whose values they share. “It is important for influencers to start by creating a consistent and distinct voice for themselves through the content they produce. This would attract brands that share the same vision. Transparency is key too,” he says.
A large follower count doesn’t necessarily lead to engagement for the brand, especially when buying likes and followers has become fairly commonplace. Even if an influencer has over 5,00,000 followers, those may either be bots or far from the target consumer. Anita Nayyar, CEO, Havas Media Group, India and South, therefore, offers a word of caution: “A lot depends on who the influencer is, and his or her credibility. Ultimately, the synergies between the influencer and the brand are also important, because that is what will ensure more impactful messaging and greater engagement.”
Most brands, while zeroing in on the right influencers, use market insights, consumer affinity, digital tools and dashboards to analyse their reach, engagement and effectiveness of content. One of the biggest hurdles to influencer marketing is that there is no real brand strategy followed for influencer marketing and zero tracking methodology, leading to poor RoI calculation. RoI is typically calculated by a host of metrics – reach, engagement, impressions and conversions. Nandini Dias, CEO, Lodestar UM, explains that brands today have various tools and metrics to evaluate the impact of an influencer marketing campaign. “At Lodestar, we have started looking at influencers with an index and a score to see what kind of ‘influence index’ she/he brings to the table. We evaluate the influence index on the basis of various parameters – followers, the subjects they are talking or writing about, brands they usually work with, etc. These criteria and the influence index help us quantify and measure impact and effectiveness.”
The measurement of RoI also depends on the brand’s overall objectives and the category it is in. For a brand like Mattel, for example, ROI can be a tricky thing since they evaluate with a lens that goes beyond likes and conversions. Loyalty to the brand and emotional connect is critical for the brand, believes Lokesh Kataria, Head Marketing, Mattel India. “My biggest question to people who have been reached by our communication is – will they call themselves my fans or my customers? If they are my fans, then that’s a win because it means I have their loyalty. Fans will not switch over to competing brands and they will even buy your product at a premium,” he explains, adding that Mattel has a quarterly evaluation in place to assess the positive emotion from consumers.
Karmakar further adds that for brands to really extract the most out of their associations with influencers, they must cultivate long-term relationships. “Sure, there are statistical metrics such as impressions and hits, but one also needs to look at qualitative metrics in areas such as recommendations sought by an influencer in the relevant spheres and whether the brand stands to gain by associating with the overall brand of the influencer. Long-term relationships can be helpful in ensuring better outcomes for the brand.”
The Zefmo report also points out that social channels and platforms may determine the effectiveness of an influencer association. Khan elaborates, “Facebook that was once the preferred platform for brands, has now made way for platforms such as Instagram and YouTube, with photo and video-sharing emerging as the fastest growing form of media. Whether it is beauty vloggers sharing tips on YouTube, or brand-based video campaigns, these platforms will continue to dominate influencer marketing.” Therefore, brands need to be paying attention to who their consumers are, and which platforms they’re seeking information from.
A recent report from influencer marketing platform Buzzoka indicates that as many as 96% of marketers today choose YouTubers as influencers. About 70% marketers plan to spend more of their budget on influencer marketing, though 55% see RoI as the biggest challenge. The future definitely looks positive for influencer marketing and the industry looks poised to reach an impressive $ 2 billion size by the end of 2020, according to Chtrbox’s Swarup. If the RoI conundrum can be addressed, who knows, we could be looking at a far bigger number!
According to Shruti Tupe - VP, Eikona PR Measurement and Audit, “Using fake or genuine followers is a matter of ethics and policies. This needs to be debated between the brand custodians and the industry bodies. Having said that, there are many ways in which brands can maximise influencer module through intelligent data analytics.”THE ROI CONUNDRUM
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