Influencer Marketing - A Global Experience
The global influencer market is now worth over $1 billion and is rewarding top influencers with cross-border opportunities to expand cultures and personal brands. For the lucky ones that have over 100,000 fans, the average pay for a single post is estimated at $763.
The challenge is localization and how to connect local influencers with global brands on a larger stage. More and more entrepreneurs are out to solve this issue, with strong efforts coming from Japan, Argentina, and more mobile-first countries.
Bringing Local Influencers to the World
In Japan, social media is an intricate part of society with over 31% of the total population currently active on Twitter. Known for pioneering street photography, social media has become a source of pride, culture sharing, and opportunity.
For Atsushi Hisatsumi, Founder and CMO of Extravaganza Int. and PATRON-ICO, technology created the opportunity to bring Japanese influencers to the world. “The global economy still has limitations. It can be difficult to book a local Japanese influencer in a cross-border campaign. This is what PATRON is looking to solve. We want to create the sharing economy for influencers that can be leveraged globally.”
Building a Brand
Personal brands are directly represented in influencer marketing. Agencies are now often responsible for the day to day management of influencer clients. This is due to the complexities that can arise in the international deal making process. Influencer marketing is more than a hobby now, it is a strong business model that is becoming more and more popular.
According to Hisatsumi, who is an influencer himself in Japan, explains just how important it is to treat influencer marketing like a business. “Influencer marketing is not just for PR and show, it is deeper than that. It exposes the globe to new cultures on a personal level. You feel connected to someone you have never met and that creates more commonality across nations. This is important and should be managed properly with care.”
There are a few ways to get started in influencer marketing. First, work tirelessly to build a loyal following through consistent engagement. Be personal and get to know your audience. If you are in a niche, this will be even easier. Once you have a following, you can explore brand and other influencer marketing opportunities. If you need help, there are many agencies and services that help manage the process.
The ideal outcome is a win-win scenario for both the brand and the influencer. On average, a brand will generate on influencer marketing. Influencers should increase their following as a result of a successful campaign. For international campaigns, local brands and influencers should be able to gain a strong following in new markets.
Logan Schauer, CEO and CMO of Crypto Media Group, believes influencer marketing is more strategic than plug and play.
“Ask yourself where you fit into a brand’s goals and vice versa,” he says. “There should be alignment and ideally a relationship that is authentic and genuine. Each campaign needs to be curated for specific KPIs on an individual basis. When this all comes together, influencer marketing can be very powerful.”
While engagement and followers can be quantified, the qualitative ROI for a company using influencer marketing can be difficult to assess. There are a few things to look at. Are the comments and likes on a post natural? Are the followers engaged? Does the brand line up with the vision of the influencer and vice versa?
Thankfully, some of this can be automated using tools and software that measure engagement and use multiple data points to quantify influencer marketing. For day to day management, consider creating a dashboard that can measure impact in real-time. The next level is qualitative feedback. How are fans and the community reacting to a campaign? You can collect this feedback on social media and also through proactive solicitations and tests.
Hisatsumi and PATRON have a methodology in place to help. “We use three methods when measuring the value of an influencer. First, are they reachable and able to disseminate content easily. Second, are they engaged and have an engaged following. Last, are they trusted within the community. These are the foundation of a successful campaign.”