John Pacini is a growth executive with 25 years leading martech companies. Currently Managing Director at Everyday Health Group (NASDAQ: ZD)
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Over the last 20 years, I've had the opportunity to be part of a dramatic evolution in the marketing world, driven by the birth and meteoric rise of creator-based marketing. This shift from traditional marketing to a creator-centric approach didn't just open up new avenues for individuals to connect with audiences; it also gave brands fresh and exciting ways to reach specific market segments.
I entered this field in the early 2000s, a sort of primordial era before our modern social media landscape. As influencer marketing has and continues to mature, it faces its own unique set of challenges. Things like standardized pricing and reliable ROI measurement are part of the growing pains of this industry. But despite these challenges, creator-based marketing is still a vibrant frontier, teeming with opportunities for innovation and impactful outcomes. You just have to know the best avenues to pursue—and the perils to avoid.
Going into 2024, here are six insights to keep in mind if you're working with influencers or creator-based marketing of any kind.
1. Be aware of updated 2023 FTC disclosure guidelines.
In the U.S., the Federal Trade Commission (FTC) sets the rules on how influencers must disclose their financial relationship to anyone they promote. The last set of guidelines was published in 2009, an ancient environment that bears little resemblance to the landscape we're in today. So the influencer disclosure guidelines were updated in 2023, focusing on the need for clear and transparent disclosure of promotional content in the industry.
And it's more than just compliance; it's about preserving the integrity of your brand. Compliance should be Rule No. 1 and a strict condition of your engagements, and clients appreciate it. You might be able to afford the fine, but you can't afford the stigma. Media stories about rogue influencers' purported "deceptive marketing" tactics always seem to get plenty of attention.
2. Prioritize relationships over transactions.
Personal relationships between brands and creators have been the cornerstone of my company, and research shows how companies can get better results when there's an affinity relationship in place with the creators. In my experience, these deeper connections typically lead to more heartfelt and impactful campaigns. Transactional relationships are easier to buy, but at best, you get what you paid for: key messages sent, content drafted, approvals, posting approved, invoice attached. Done. But I've seen how influencers who feel a personal connection to the brands they represent are more willing to genuinely champion, endorse and amplify brand messages, even beyond the paid terms.
In one case, a large brand we represented encountered a major PR crisis. A creator community we'd helped them cultivate for years organically swooped to their defense. Without money or motivation, they defended a brand and people they personally knew and trusted. Relationships can produce results in both good times and bad, when they can become a brand's reputational lifeline.
3. Respect creators' own challenges.
You also need to think in terms of the fluid social media landscape and how creators themselves are responding to it. Influencers face the unpredictability of social media algorithms, often in hard ways that hit their revenue streams. In response, creators are both diversifying their platforms and rediscovering the benefits of blogging and content ownership. For brand marketers, this calls for a more adaptable, all-encompassing approach.
Remember also that most influencers are running their operation single-handedly. They handle scheduling, writing, performing, editing, SEO, contracts and so on. Most executives work in a world where these jobs are all held by different people, and this difference in perspective can create frustration. Try to exercise patience and understanding with the multiple hats creators wear to help ensure that your project is a success.
4. Insights drive ROI in influencer selection.
Most influencer campaigns select their creators based on numbers in a database—the same database stats that most of the industry uses. But just as a skilled choir leader knows the right placement of voices is key to harmony, qualitative human insights are equally key in influencer campaigns. Audience, engagement and conversion figures are important, but an influencer's authenticity, reliability and appropriateness for a particular campaign theme can also hold a lot of weight. I have found that these factors often play a more significant role than numbers in determining success and ROI.
5. Use strategic listening.
Real-time qualitative data-gathering from influencers has become a vital strategy for our firm, especially in campaigns that require agility and nimble responsiveness. Determining the very best path typically takes insights from the people on the ground. The numbers may indicate a question, but it takes people to help understand the solution.
For example, our Covid-19 pediatric vaccine outreach was a complex, challenging topic. Direct, actionable feedback from our influencers was key in refining our strategies on the go. These types of insights can provide a perspective that raw data alone can't match.
6. Trust the voice.
Finally, respect the unique voice and style of each influencer. Keep in mind why you hired a specific creator in the first place. They give you access to communities and audiences in ways that are hard to replicate elsewhere. They've cultivated a voice and style that resonates with their audience. That's why it works. It's their product.
Try to avoid the trap of over-managing content and delivery. Ensure key messaging and factual accuracy are there, then let them do what they do best.
Conclusion
As we look toward this year and beyond, understanding these trends and insights can help you effectively navigate the influencer marketing landscape. With the budgets for creator-based marketing continually rising, being prepared and responsive to these changes can help your brand maximize ROI and achieve sustained success in the marketplace.
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