Understanding the ROI of Influencer Relations in Asia
In recent years, interest has grown in using influencer relations as a tool for building brand awareness and growing a customer base for B2B and B2C organizations in Asia. However, there is still much uncertainty about how to measure ROI in the investment. Allison+Partners’ Paul Mottram, managing director of the agency’s All Told group in Asia, recently told the audience at the Tech in Asia conference in Singapore that the key will always be to first properly research and understand the people, topics and channels that make the most sense for their brand.
Mottram shared the findings from Allison+Partners’ “Harnessing the Power of Influence in Asia Pacific” research, which offers insights on achieving the always-elusive “buzz” through the effective use of Key Opinion Leaders (KOLs).
Here are a few of the questions he addressed at the conference.
At which stage of the marketing journey should KOLs and influencers be engaged?
It’s ideal to apply influence through the entire customer journey, although it can be best to use different influencers at different stages. For example, for a new company or product, reach coupled with sufficient credibility are going to be the most important factors to gain brand awareness. However, as customers get closer to the purchase stage (such as having questions about the product or service), then it may make sense to engage specific subject matter experts who might have less reach but have outstanding credibility.
How much should companies pay influencers for their involvement?
Different industries and markets will have different pay scales for influencers. It also depends on how experienced and valuable an influencer is to a brand. That’s why it’s critical to implement a rigorous scoring system that can be optimized over time. When doing so, it’s important to look not only at reach, but also at how authentic and credible an influencer is, and compare a “cost per thousand” against that. It’s also important to take into account the influencers who are most credible for your business, and realize the market rate might not reflect that. All brands will have to undertake some experimentation and learn what works best over time.
Are high-reach influencers as impactful as micro-influencers?
There has been a trend away from super high-reach influencers and towards micro-influencers. While it’s certainly effective to use them for some products and services, five engaged influencers that reach 20,000 people each will drive more impact than a single influencer with 100,000 followers.
Susie Hughes is vice president in Allison+Partners’ Singapore office.
