🥦💨AGLI #4.5: Research Says Influencer Marketing = Higher ROI...

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Cannfluencer Marketing, What's Going on?

When I talk to cannabis leaders about influencer marketing and creator campaigns I get one of two reactions:

"Hmm" 🤔

AND

"I've already tried it, it diDN'T WORK, I WAS SCAMMED!" 😤

I get the latter more than the former and it usually the situation plays out like this:

1. Business wanted to drive sales by finding an influencer with a significant following.

2. Business found an influencer and gave them a product OR product and money in exchange for a shout-out.

3. Business didn't see any new sales and/or influencer ghosted the business and/or .

Sound familiar? Let us talk 👇🏾

Let's Get on The Same Page: Influencer Marketing

Influencer marketing is when businesses partner with an individual or individuals who have influence or authority over a target audience in order to promote their brand or product. Ambassadors and spokespeople are often influencers and they can range from celebrities and industry experts to your grandma Gertie who always has the latest in support sock fashion and functionality.

Influencer Marketing is VERY Effective

It's widely known influencer marketing is cheaper, but there's more.

👉🏾In 2022, researchers from the University of Washington conducted the first study to connect influencer marketing to dollars and cents. They found influencer marketing produces higher ROI than almost all other kinds of marketing. Robert Palmatier – professor of marketing and head researcher on the study – found that if a business spent 1% more on influencer marketing they'd see nearly 0.5% increase in engagement...this is huge.

👉🏾The team over at Rakuten found 80% of consumers make purchases via influencer recommendations.

👉🏾Additional research has found 86% of women turn to social media for buying advice.

👉🏾The team at Nielson Catalina Solutions found influencer marketing ROI is 11x greater than traditional marketing approaches like banner ads.

So What's Going On In Cannabis?

To be fair there are plenty of cannabis brands killing the influencer marketing approach.

Speaking strictly about their approach to influencer marketing – I think of brands like STIIZY, Papa & Barkley, Sessions, and PAX who all kill the influencer marketing approach around new launches and the holiday season.

The most crippling issues I see most often are:

Confusing Influencer Marketing With Influencer Marketing Campaign

This 👆🏾 is one trap many businesses that are unsuccessful with influencer marketing fall into.

Finding an influencer is easy, making it into a campaign takes work, but that is where success lies.

An influencer campaign requires:

MULTIPLE influencers of all sizes if possible: from nano (1k - 10k followers) to mega (1M+). Even if you're paying a Kardashian you need multiple influencers to see the ROI you want. .

Clear objectives and goals 

A start and end date 

A clear campaign brief with requirements

Influencers aligned with your product category and target audience for the campaign...notice I said audience and not audience(s). If your budget is small attack one audience for your campaign instead of multiple.

A contract to protect everyone involved

A clear approach to reporting metrics

Too Many Companies "Paying" Influencers with Free Products.

Nothing says, "I don't value the work you do or your time," like offering to pay someone in product while also locking them into a formal agreement. However, reaching out to smaller influencers with a personalized message and light ask is completely appropriate.

Use my generic product-only outreach message to get you started: 

"Hi ___, I'm Brittany with ____. we love your _____ reviews and saw you like _____. We'd like to send you our ______ to try. If you like it and feel inclined to review it thank you in advance. If it's not your jam and you'd like to send me feedback, thank you in advance for that too. Will you send me your full name, email address, and mailing address and I'll pop your parcel to the post office (yes, I love alliteration, ha!). Cheers

Unrealistic Expectations 

This is a biggie that plagues all marketing, especially in cannabis. MARKETING IS NOT SALES, sales is sales! Yes, if you're a CPG company, marketing and sales is muddied, but it's still the case that marketing is not sales. Influencer marketing campaigns can only bring you visibility and leads and that's what their success should always be based on.

Capturing the lead and nurturing it is all on you buddy.

It's up to you to give influencers something attractive and worth clicking on. A 20% off promotion code? Yes, please.

It's up to you to ensure your website is working properly.

It's up to you to ensure your customer journey from website entry to purchase is uncomplicated.

It's up to you to have a drip campaign set up for those who initially leave your website.

Most people need to see a brand 7+ times before they make a purchase. It's not appropriate to expect that to be different just because you're using a different marketing tactic.

Before we close out say it with me:

> Influencers campaigns are effective

> I will not confuse influencer marketing with influencer marketing campaigns

> I will not be upset if I paid an influencer in product and my attempt at influencer marketing failed

> I will make sure my expectations are always realistic when it comes to marketing

Ok good job!

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A Green Legacy specializes in Influencer Marketing Campaigns, Executive Visibility and Positioning, Public Relations, Organic Marketing Strategy, Social Media Strategy & Management, Content Development, and 1-on-1 consulting.

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