Influence Marketing & Social Analytics: Finding a Haystack’s Most Influential Needles
*Who in your family gives the worst advice and why?
Beyond target market, beyond word of mouth, influence marketing. When your marketing efforts focus on very specific individuals, individuals that have influence over buyers – you’ll see impressive results.
What is Marketing? “Any communication that leads to a sale.”
The two goals of internet marketing are to increase visitors to your website and to increase conversion rates. The four steps to get you there are 1. Leverage; understanding you have room to grow. 2. Positioning; proving yourself a subject matter expert. 3. Content creation; provide enough free, high-quality information to ensure your company is always “top of mind” and your content shows up in search engine results. 4. Permission marketing; the means to continue the conversation and build a relationship with your targets, prospects, customers, and advocates. The one result of successful internet marketing is simply to SELL MORE.
Who are Influencers?
Influencers may be buyers. They may be retailers or manufacturers. They may be journalists, analysts, advisers, or people with an impressive number of Twitter followers. Social influence rests on those who have the power to persuade. It doesn’t mean these people are salesmen or coerce others. They subtly shape a consumer’s purchasing decision. Influencers set trends. They are the first to adopt or leave.
To find your influencers, ask how likely your customers are to refer you to a friend or colleague. Then determine what their market reach is, how many opportunities they will have to influence the buying decision of others, and how much they know about the subject.
*What are you NOT an expert on? Who do you go to for advice?
- Know more
- Get closer
- Emotionally connect
Impact of Influence Marketing
- 45% of B2B buyers turn to discussion forums, online communities or social network during the purchase process [Forrester Research, B2B Marketers: Tap Into Social Networking Sites to Energize Community Marketing, June 17, 2009.]
- 70% – of B2C marketers are moderately to highly engaged in social media
- 52% of B2C Marketers Plan To Increase Social Marketing Budgets in 2013
- 46% of B2C marketers will keep them the same (The Real Time Report , September 2012)
Marketing to Influencers
Once you’ve identified influencers you’ll want to build a relationship with them. If they are going to promote you, they’ll want to know what’s in it for them. Of course you should give away your product to a few choice people in hopes they’ll talk positively about you, but don’t stop there.
Do your influencers hear from you regularly? Do they get your newsletter? See your blog? Are you giving them preferential treatment at trade shows? Look for opportunities, better yet, create opportunities for your influencers. Look for practices that you can implement, preferably for the first time in your industry.
The advantage of online influence marketing is the quick turnaround. Product and site reviews should also be considered. Many who hear about a new company will research online before making a decision.
Why you Should Worry About Customer Reviews
- 63% of customers are more likely to make a purchase from a site which has user reviews (iPerceptions, 2011)
- Site visitors who interact with reviews and customer Q&A are 105% more likely to purchase
- They spend 11% more than visitors who don’t (Bazaarvoice, Conversation Index, Q2 2011)
- Consumer reviews are more trusted (12 times more) than descriptions that come from manufacturers (eMarketer, February 2010)
- Reviews produce an average 18% uplift in sales (Reevoo )
The best way to get testimonials or recommendations is the EAR method.
I’m going to Earn my recommendation by:
I’m going to Ask for it (when/how):
I will Reward those who recommend me by:
Terra L. Fletcher owns Fletcher Freelance where she works with businesses to create and implement targeted marketing campaigns, improve advertising ROI, and increase sales. She offers extensive expertise in Search Engine Optimized (SEO) website content, social media marketing, and business writing. Fletcher was awarded Entrepreneur of the Year on January 24, 2013. She speaks to businesses and trade associations, and offers classes through Northeast Wisconsin Technical College. More information can be found at TerraLFletcher.com.
Please call Fletcher with your feedback about this seminar or any questions you may have.