Influence Marketing for CEO's E-Book

Stéphane Bouillet

• Herausgeber: Books on Demand
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 114

Veröffentlichungsjahr: 2020

Beschreibung

This book will reveal why influence marketing is THE type of media that has been growing the most in the last 5 years as well as how to measure the impact of your campaigns on consumers. You will be able to know if your teams and agencies are really reaching your growth targets. You will also be able to find a common language with your influence manager to respond to your challenges/targets as a CEO, managing director or marketing director. Perhaps you are not a CEO, but you work in the influence marketing team? This book is also for you: it will help you to improve how you measure influence and highlight your achievements and expertise, to your CEO. In short, this is a book for everyone who wants to incorporate influence marketing into their strategy and measure the true business impacts.

Leseprobe

This book is for YOU!

Are you a CEO, managing director, or do you simply want to work in influence marketing? This book is made for YOU.

Your team keeps telling you that you need to include influence marketing in your strategy, but you don’t understand why and when you do influence marketing, the campaign results are often very different to your typical business indicators (we talk about reach, engagement and EMV (Earned Media Value) rather than sales, notoriety or brand preferences). However, larger corporations have hugely reoriented their communication budget to include this new type of media (Estée Lauder declares to dedicate 75% of its communication budget to influence) as they have correctly recognized that people from 15 to 40 years old no longer spend their time watching television and that influence is an extremely powerful method of communication.

This book will reveal why influence marketing is THE type of media that has been growing the most in the last 5 years as well as how to measure the impact of your campaigns on consumers.

You will be able to know if your teams and agencies are really reaching your growth targets. You will also be able to find a common language with your influence manager to respond to your challenges/targets as a CEO, managing director or marketing director.

Perhaps you are not a CEO, but you work in the influence marketing team? This book is also for you: it will help you to improve how you measure influence and highlight your achievements and expertise, to your CEO.

In short, this is a book for everyone who wants to incorporate influence marketing into their strategy and measure the true business impacts.

Table of Contents

Preface by Hervé Bloch, founder & CEO of LESBIGBOSS

Introduction

What is influence marketing?

Chapter 1: Understanding the consumer. What results can you expect from Influence Marketing regarding the psychology and needs of the consumer.

Maslow’s hierarchy of needs

Some influence marketing figures

Why does Influence Marketing work, and why don’t you understand it?

Concrete examples of influence marketing strategies linked to « Maslow’s hierarchy of needs »

Getting your product known: campaign examples

Getting your product liked: campaign examples

Getting your product bought: campaign examples

Chapter 2: Understanding the impact of the characteristics of your product and its distribution on the results of your influence marketing campaign

The sociodemographic nature of your target consumers

The local / national or international nature of your offer

Similarly, this criterion can be constraining. By calling on EnjoyPhoenix, the biggest French Youtube star from Lyon, France, to promote your store based in Lyon, you are going to lose money. Although her audience is French, or francophone, and she is originally from Lyon, only a small percentage of the community will be able to physically go to the store. In short, if you do not sell online or if your product is not at least distributed elsewhere in France, your investment will not be profitable.

Similar to the age criterion previously mentioned, we would advise you to:

Products that require consideration before purchase

Products that require less consideration before purchase

Managing the distribution of a product

Chapter 3: The real business impact of an influence campaign

The simplest: EMV - Was my marketing budget worth the investment?

The most basic: how many people have been reached?

The most interesting: what is the impact in terms of a change in consumer behavior?

Calculating the real cost of acquisition

Chapter 4: Launching a product via influence marketing. How to maximize its impact?

Example 1 : the launch of a new vegan cosmetic brand

The idea:

The challenge:

The solution:

Why this mix?

What influence strategy could be used in this case?

How do you measure the results of your campaign?

To conclude on our vegan cosmetic launch campaign

Example 2: the launch of a new dating app

The pitch:

The challenge:

The solution:

Why this mix?

What influence strategy could be used in this case?

How do you measure the results of your campaign?

To conclude on our dating app launch campaign

Another example: accompanying a BtoB brand over the long term - Capgemini, sector “Energy / Utilities”

The pitch

The challenge:

The solution:

Why this mix?

What influence strategy could be used in this case?

How do you measure the results of your campaign?

To conclude on our BtoB influence campaign

Chapter 5: To externally or internally manage your influence campaigns

The advantages and disadvantages of using an agency

The advantages and disadvantages of doing your influence marketing campaigns in-house

What you can expect from an influence marketing tool

Data and influencer search

Campaign management

Chapter 6: Experts, advertisers and agencies: their vision of measuring results of an influence campaign. Limitations and opportunities.

Interview with Jonathan Chan, BtoB influencer and community manager at Dentsu Aegis Network

Interview with Xavier Chauvin, the founder of Beauteprivee.com

Interview with Alexandre Andresciani, social media manager at Amazon Prime Video

Interview with Ana Aires, head of influence marketing at iGraal

Interview with Guillaume Cochard, head of communications at Andra

Interview with Guilhem Bodin, partner at Converteo

Interview with Aurélien Deschodt, head of the digital communication for Decathlon France

Conclusion

Self promotion

Acknowledgments

About the author

Preface by Hervé Bloch, founder & CEO of LESBIGBOSS

Why influence marketing? The term influence comes from the latin influencia, which means ‘to exert an action on someone’. It is about capturing attention, arousing interest and triggering positive action.

We need to go back to the fundamentals of neuroscience to understand influence. The human brain is organized in three parts that form the whole: the cortex (Cartesian), the limbic (the emotions) and the reptilian (reflex and survival).

The influencer activates these 3 parts by getting the right messages (both cartesian and emotion as well as action oriented) across to his/her community in a peer-to-peer manner. That’s why it works.

But how do you measure the results of influence marketing, and most importantly the change in consumer behavior?

This is the objective of the book, which will use both BtoC and BtoB examples.

Regarding BtoB in particular (my special field), the impact of influence marketing depends on the editorial creativity of the influencers and their perfect integration into the internal and external ecosystem of the company. So BtoB influence marketing is a key tool of modern selling, in the same way that BtoC influence marketing has become an indispensable method of communication for the majority of consumer businesses.

Introduction

“Amazing, my campaign achieved a reach of 4 million and an engagement rate of 3%... The EMV (Earned Media Value) of my campaign is €280k and it only costed me €100k!” declares the head of influence to the marketing director.

“Ok, but I’m not sure about measuring the impact of it. How can we tell that it is a success? Have we attracted more clients? Have we gained market share?” asks the marketing director.

The influence manager settles back down at his desk, thinking about how the campaign has been a huge success but he doesn't know the correct language to get this across, and therefore get the budget that he deserves. Meanwhile his colleague has just spent 5 times the amount on social ads, not even including the considerable extra production costs… all for less impressive results!

Influence marketing has been nowadays developing hugely and allows businesses to obtain, often, highly impressive results, but which are poorly understood by marketing directors. So despite its success, there remains a gap between the perception of the main decision makers- “yes influence marketing is a key lever, especially when it comes to reaching 15-35 year olds who no longer watch TV and are addicted to social media” - and the measurement of this perception, “I feel that works, but the indicators that I’m given, differ too much from our normal business indicators. I also need to compare influence marketing campaigns to my TV campaigns, adwords etc. and I cannot cross check the figures. It’s like I’m comparing apples and oranges!”

Influence4You was one of the very first influence marketing agencies (2012). Like the majority of agencies, we supply our clients with thorough campaign reports, including information on the reach, engagement, sociodemographic profiles of the influencers’ audience, as well as the Earned Media Value of the campaign.

However, these days, we have to look beyond these statistics in order to enable marketing directors to REALLY measure the business impact of their influence campaigns, which now represent increasingly large parts of marketing budgets (hundreds of thousands or even millions of euros for large corporations). The CEO of Estée Lauder, Fabrizio Freda, admitted to having dedicated 75% of the marketing budget to influence in 2019.

Influence marketing (if the campaign is well executed and we measure the true objectives) is an extremely efficient way to obtain results that are 10 times greater than those of classic advertising.

But, it is not that simple. In fact, the secret for REALLY maximizing the results of an influence campaign depends on:

Clearly defining the campaign's objectives.

Running campaigns that make these objectives achievable (this is what we are going to look at next: getting people to buy your product does not require the same levers as getting your product known).

The ability to remain humble and aware that

influence marketing

will not meet every objective.

If, for example, your objective is to sell tee-shirts on your website and you don’t ask your influencer to integrate a clear call-to-action to your site (accompanied by an interesting offer), you will not drive sales. Influence marketing is not magic! But, in the same way, neither are google Ads: most of the time, assuming you haven’t spent a long time trying to optimize them and the landing page, they are ROI negative. If you want to sell an anti-ageing cream by using TikTok stars, you are likely to miss your target audience!

This book aims to give you a coherent approach (with theory and concrete examples) to launch influence marketing campaigns that allow you to reach your objectives (or perhaps on the contrary, encourage you to quickly abandon this lever if it is not relevant to reach your objectives).

We know very well that a CEO or marketing director does not simply buy an influence marketing campaign, but rather a way to change consumer behavior to generate sales. This is what this book is about!

Before we begin, let’s look at influence marketing.

What is influence marketing?

We are going to use the following as a definition for influence marketing “getting a product or service known, liked or bought, via an influencer”. The influencer can be someone active on social media (a top influencer has more than 100k followers, a middle, between 10k and 100k and a micro influencer has between 1k and 10k) or simply a consumer who talks about the product to his/her friends (nano-influencer, also known as a ‘marketing consumer’).

Measuring the impact of an influence campaign means measuring the number of people who have changed their behavior (this could be having a better knowledge of the product, liking it more or purchasing the product/service), following an influencer’s recommendation.

We will see it repeatedly in this book- measuring the impact of a campaign should not just be measured by the reach (number of people potentially seeing the content), the engagement or the EMV (Earned Media Value). Even if these indicators are interesting to analyze, they are superficial.

Measuring the impact is not simple. We will look at how to achieve this at a reasonable cost, with simple methods and without having to dedicate a lot of your time to it.

Chapter 1: Understanding the consumer. What results can you expect from Influence Marketing regarding the psychology and needs of the consumer.

Maslow’s hierarchy of needs

It goes without saying, but it is helpful to be reminded- just because we have seen an influencer showing off the impressive latest SUV Jaguar e-Pace, that doesn’t mean that we are going to rush to buy it.

Like all types of advertising, this method of communication is in line with what we will call ‘Maslow’s hierarchy of needs’ of the consumer.

I start by getting to know the brand, the product or the service… then I begin to like it… and it is only when I actually need it (perhaps the advertising has accelerated the need for it) that I am going to buy it. Most of the time, I am reassured that I am making a good purchase (better quality, more ethical, most attractive quality/price ratio).

It is a much simpler representation of the ‘AIDA’ model.

Level

AIDA MODEL

1

COGNITIVE STAGE

A

wareness

AFFECTIVE STAGE

I

nterest

D

esire

CONATIVE STAGE

A

ction

Just like ‘Maslow’s hierarchy of needs’ which demonstrates that higher needs may only be taken into account when the primary needs are met, when we can only buy a product when we are aware of its existence and when we are convinced that it will fulfill this need.

We can therefore only sell a product when the consumer knows about it… hence the importance of the need to develop the brands notoriety