A Right Sized Approach to Influencer Marketing
In recent years, influencer marketing has become a must-have ingredient of a robust digital marketing strategy. According to a study by Influencer Marketing Hub, 84% of marketers praise its effectivity.
This gives the impression that, to succeed, marketers must spend large amounts of money on hiring the hottest social media stars. Those who follow it watch their efforts turn into dust when their ROI is lower than expected, despite the wave of likes and new followers.
If your marketing department can’t spend a lot of money chasing celebs, there’s a better alternative for you.
Micro-Influencers in a Nutshell
Coined in 1980 by Bill James, sabermetrics is the analytical study of baseball statistics as a way to discover and develop hidden talent in a baseball team. Sabermetrics allows coaches to build a solid team by leveraging the unique strengths of individual players without spending millions of dollars.
Where these players might otherwise be devalued because of their niche abilities, Sabermetrics offers us the . Experts use mathematical tools and real-time data to assess a player’s performance during a game or practice session.
Because of its success, sabermetrics has become an essential staple in baseball. The 2011 film Moneyball focuses on how the Oakland Athletics used sabermetrics to revamp their players’ roster in the early 2000s.Instead of wasting your efforts on attracting top stars, there’s an alternative that can pay off in the long term.
By adopting the principles of sabermetrics to influencer marketing, you can find and work with the best influencers for your brand
Adapting Sabermetrics to Influencer Marketing
Sabermetrics experts review a long list of elements to assess a player’s talent. Marketers can do the same, by choosing a series of traits and qualities to compare between influencers. If you’d like to try your hand at influencer sabermetrics, here are some considerations you should make.
These go beyond traditional analytics like audience engagement, real vs. fake followers, among others.
The best way to capture your audience is through repetition. According to Salesforce, the average consumer needs to engage with your product at least six times, before becoming a lead. Choosing five or more influencers will allow you to create these six opportunities a lot faster and at a much lower cost.
A single post by one influencer won’t have the same impact that several posts by several.Focus on a Group
Consider your Audience
Trust is crucial when it comes to influencer marketing since we tend to gravitate towards familiar faces with similar attitudes and values. Thus, you should assess if your audience will connect with your chosen influencers. Here, the value of micro-influencers can surpass that of a celebrity.
By leveraging this familiarity, your audience will be more open to giving your brand a try.
Consider the Rewards they Want
When it comes to rewarding influencers, think beyond a check. Many local influencers have a faithful audience, but are in the early stages of their career, or doing it as a side hobby. Consider what types of rewards you can provide to them, and deliver those that your influencers will value.
A special dinner, a personalized present or even an Amazon gift card can be more meaningful than the money. Find a middle ground between what you can offer and what they value, and it can lead to the start of a great collaboration.
Using a sabermetrics-influenced approach will let you build a strong team of influencers that have the respect of your audience and believe in your brand. They will bring the ROI you seek, in less time and without affecting your pocket.