Over the past few months, I’ve had the opportunity to connect with some truly amazing people. Through Twitter chats, Social Media Marketing World, or just plain ol’ email, I’ve truly enjoyed getting to know influencers in the social media space.
We’ve been very fortunate to have partnerships develop with some of these folks, too. We’ve joined forces in a variety of ways to bring our audience different perspectives on social media marketing, employee engagement, content – you name it.
Of course, we aren’t the only B2B company that has integrated thought leadership into their marketing efforts. Enterprises are definitely seeing the value in having respected influencers contribute their thoughts on the brand’s channels, but like many other emerging marketing tactics, the question is how ROI is measured.
It’s tricky to measure how a relationship translates to results. That isn’t really the point of building a meaningful relationship, is it?
I don’t think it is 🙂 But marketers generally know that quantitative results need to apply to qualitative subjects. So how do we measure the impact that our influencer relationships have on our marketing, and how do we make sure that we aren’t looking at vanity metrics?
I’d like to give you a little peek into how we’ve been balancing this at PostBeyond. We’re refining our process as time goes on, but we’re super excited with how things have been unfolding so far.
Qualification Process
Let me start off by saying we never turn down new friends! And I definitely believe that businesses should always strive to keep their relationships human. Approaching relationships from a “what are you going to do for me” angle is a one-way ticket to a poor brand experience.
But with that being said, in a B2B context, influencer campaigns need to be mutually beneficial. How should B2B companies approach this, you ask?
Well, I suggest starting in the right places. Where do you and your peers hang out online? Where do the best discussions take place? Spoiler alert: typing “social media influencer” into Google probably won’t give you the best opportunities for relationships. Looking in your existing networks for referrals to other thought leaders is probably the best bet.
It isn’t always about finding the person with the biggest reach, either. There are tons of influencers who are subject matter experts with a huge network, but they might not be the right fit for your enterprise. We first look at their content to determine whether their area of expertise is in alignment with our employee advocacy focus.
This may seem like an obvious step, but it’s absolutely crucial. It’s easy to get caught up in the potential reach someone has, but ultimately, if they aren’t positioning your brand in front of the right people, the results will NOT materialize.
Twitter chats and LinkedIn groups have been very helpful for us at PostBeyond, but we also love Buzzsumo to identify new peers in our space. We have segmented lists of topics that pertain to our industry that will pull the latest and greatest content on that subject. It’s a great way to familiarize yourself with the movers and shakers who regularly write on these ideas.
It’s all about finding how you can help one another – not how you can get the most bang for your buck.
ROI of Influencer Campaigns
Speaking of bang for your buck, I’ve actually had the unique challenge of building our community from scratch with a very limited budget. So yes, you can rest assured that most of the relationships we have are from old fashioned conversation. It can be done!
Of course, there’s a certain element of this that can’t be measured. But because we’re data-driven, we try to bring the metrics in where we can.
The two strong KPI’s that we measure here are backlinks and website traffic. If someone sees us mentioned on Hubspot, let’s say, and then continues to sign up for our email list – we count that as a huge win.
SEO and inbound marketing aside, we also consider:
- How likely are they to talk about us in a public setting?
- Ex: If they’re speaking at an event, would our relationship be strong enough that they would give us a mention in front of the audience?
- What’s the ROI for them?
- Is our offering going to give them something valuable to share with their network?
Continuing Relationships
I firmly believe that influencer relationships aren’t meant to be a one-night stand. There’s something to be said for relationships that have longevity – I really don’t like thinking of them as a transaction.
I’ve been fortunate, I’m not going to lie. For most of the relationships we’ve built, there truly seems to be a mutual respect for one another. Because of the common ground we share, it’s natural for me to continue sharing their work and vice versa.
Whether you work with an influencer just once or on multiple occasions, there’s always a reason to stay in touch. If I’ve had a particularly good experience, I make an effort to recommend their work to others, and believe it or not, most will do the same in return. I’ve found great success in developing a “micro referral system.”
I will say that almost all of the relationships we’ve built have been on an unpaid basis. It’s not to say that we won’t invest in future relationships, we just haven’t narrowed down the right opportunities yet. There is an upside to the unpaid strategy, however. It’s more about really getting to know someone, to connect over shared interests, to learn from one another. The only transaction you have to worry about is knowledge sharing, and if you’ve picked the right person, you shouldn’t have any problems whatsoever.
So while analytics and measurement play a part in our influencer relationships, we place more importance on building something that’s meaningful for both parties involved. Increases in website traffic or increased email signups are KPI’s we always like to see being met, but there are some things that simply won’t boil down to a number. Does that mean we shouldn’t pursue these relationships? Not in the slightest 🙂
