Influencer Marketing Lab: Take Action with Competitive Data
I have worked with most, if not all of our customers at one point in time during my four years at Traackr. During that time I have witnessed some really successful influencer programs launch, and have also seen my fair share of influencer initiatives crash and burn. What separates the two groups?
In this series, I’ll share bite-size tactics that appear again and again in successful influencer marketing programs. To be fair, tactics cannot replace strategy; and strategy is more than a series of actions. However, getting started with these pro tips today will propel you toward that winning approach.
Convert competitive intelligence into action In the case of influencer marketing, competitive intelligence is a competitive advantage. Brands must understand how their influencers are relating to the competition. Determine who among your influencers are supporters, detractors, and neutral toward your brand; and define a separate approach to each group.
Track how your competition relates to your influencers and over time you will uncover strategic insights to learn from and build upon. One of our customers noticed that their competitor had gotten into some hot water with their influencers. Our savvy customer took this opportunity to learn from the competitor’s mistakes and tracked the event closely. This proved to be a brilliant move. Not only did our customer learn what to do and what not to do in this scenario, but they decided to adjust their messaging in a way that would protect their reputation and help them come out on top should they ever find themselves in a similar crisis. While the use cases for influencer marketing are numerous and growing, at its core, the practice is about cultivating authentic brand engagement among targeted communities. It requires a balance of organic action and strategic aim, and understanding how your competition relates to the communities that matter to your business will provide you with key strategic insights.
Get Staarted Today For Everyone Follow your competitors on social media and stay on top of their influencer engagement. Note what campaigns they are running, what does and doesn’t appear. Check out these 8 simple ways to monitor your competitors on Social Media Today. For Traackr Customers
- Pull a list of influencers that matters to you.
- In Reports, setup Share of Voice and include your top competitors as keywords.
- Review the Share of Voice Feed regularly to review content that is published by your influencers about your competitors.
What’s your experience leveraging data to leapfrog the competition?