How do you quantify the impact of influencers? And where is the role of influencers going?
As chief influence strategist at MSL, Erin Lanuti is responsible for shaping and innovating MSL’s vision and offerings around influence. Erin is responsible for the innovation and global expansion of their new platform Conversion2Commerce.
***Erin Lanuti will be among speakers from around the world at Native Advertising DAYS from 8-10 November. As a member of FIPP, you are entitled to a discount of €100 discount on the ticket purchase to the Native Advertising DAYS event by using the promo code FIPP17. Get your discounted ticket here***
For us, influence is all credible third-party content. Influencer is just one piece of influence, while influence as a broader term can include articles, videos, ratings, and reviews, etc.
There are a variety of ways we can quantify the role of influence. For brand lift, we can conduct discrete choice task methodologies, brand surveys and/or brand trackers. These can be done as stand-alone surveys or surveys that are retargeted to people exposed to the original content.
Depending on the type of campaign being run, we have a wide array of ways to measure commerce. For instance, with our Amazon partnership as well as partnerships we have with other ecommerce platforms, we can do direct attribution of the influence to commerce.
For brick and mortar, we have a mobile version where we can tie content exposure to store traffic and then in partnership with the retailer obtain the sales data lift for the product. If we test this in a small number of markets we can build a proxy which can be scaled nationally. There are also other ways, but typically they require a lot more investment from brands making them too cost prohibitive.
We have built several different methodologies based on a client’s desired business objective and paid media. We have seen that no matter the business objective or the methodology, that one of the most important steps is to ensure that the content being amplified is, in fact, the right content.
We’ve spent a lot of time building our data-driven earned content criteria which when followed delivers substantially more brand and sales lift than when no criteria are used.
The second part of this is to ensure that the customer journey message is seamless and the steps are as short as possible. This requires a lot of coordination with the strategy, creative and media buying teams. For instance, say I am promoting a pair of white sneakers in my content, the brand message that follows should relate to white sneakers.
All elements should drive to the business objective as quickly as possible and we’ve been experimenting with lots of different technologies and methodologies to reduce friction in the process and accelerate the action.
There are lots of challenges in measuring brand lift. One of the biggest is to ensure you can isolate the impact from your initiative vs. other elements that are running. We always recommend doing a test and control to isolate as many variables as possible. For larger brands that have media always on, we will typically isolate even further to specific markets as another way to get as clear a read as possible.
The role of influencers is constantly evolving and growing. I often look to China as a market leading influencer marketing. It is truly remarkable the power influencers have at driving commerce in China.
In fact, when I was last in Shanghai, I saw a two-block line for a tea shop and I asked what was so special about this tea, they said an influencer wrote about this tea shop four months ago and every store in the chain has been serving over 1,000 cups a day ever since.
While we have a long way to go in the US and other markets until China’s social commerce model, what is clear is the power of influencers to drive brand lift and commerce across a variety of categories is growing exponentially.
Today, it’s critical that companies not isolate third party content as it is often the most credible and relevant content a brand has today. This content should be used across multiple channels – advertising, earned, owned, etc.
We’ve seen when we use this content and compare it against brand creative and owned content that it consistently outperforms which to me signals a shift in how we need to think about the role of this content in the marketing mix.
In sum, I think one of the most exciting phenomenons is social commerce. We’re just starting to see this pick up steam in markets like the US and I believe it will grow significantly around the world in the coming year.
It’s no secret that the pendulum of consumer trust has significantly shifted from brands to credible third-party influencers. When I say influencers these are all credible, third parties who can authentically speak about your brand, product or service. This might be a publisher, a consumer or a stakeholder.
While seemingly everyone is getting on the influencer bandwagon what isn’t clear is how to qualify and measure the impact of influence on true business impact. Over two and a half years ago we starting building the Conversation2Commerce offering to do just that. To get there, we had to explore measurement scenarios, advertising formats and the earned influence itself.
My presentation will focus the role of influence in marketing and how to ensure you’re leveraging it to drive a measurable and meaningful business impact.
***Meet and hear more from Erin Lanuti at the Native Advertising DAYS in Berlin. Register now using your FIPP member promo code FIPP17 to receive a discount of €100***
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