In this episode of SaaS-Story in the Making, host Matt Wolach sits with Radd Co-Founder and CMO Natalie Staub as they talk about the rise of e-commerce and how influencer marketing is crucial for businesses. Being a digital marketing and social media senior lecturer at Middlesex University, Staub knows her way in marketing trends and how companies can grow through powerful strategies that can help them keep up with the demands of the industry.
Podcast: SaaS-Story in the Making
Episode: Episode No. 197, “Why Influencer Marketing is a Powerful Marketing Strategy”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Natalie Staub, Co-Founder, and CMO of Radd
TOP TIPS FROM THIS EPISODE
Maximize Influencers’ Social Power
Influencers have social power. They can connect to their followers on a different level. Staub explained that their “sweet sauce” is composed of inspiration and relatability.
Most consumers seek out influencers for growth. They are not simply finding famous people online but seeking inspiration for development. They want somebody they can relate to. These influencers make them effective.
To maximize this potential, you need to understand influencers’ effect on their followers. Their connection has shared value that extends nearly on a personal level—hence, the growth. This effect should be utilized to channel your company’s value closer to your market—in a way that they can resonate with.
Identify How Influencers Can Help You Grow
Social Media Influencers have a huge influence on their followers. They can create a community that shares the same interests or vibe. And when it comes to decision-making, their followers rely on them because of that shared connection.
Before the emergence of social media, Staub mentioned that “we all turn to some form of an opinion leader to help us formulate decision making.” While they can be the predecessors of influencers today, you cannot deny the power that comes from these kinds of people and the potential of Influencer Marketing, mainly when it minimizes the consumers’ buying risks.
Staub mentioned three essential reasons why you need influencers:
- Allows Brands to Target a Wider Audience
Influencers have their social networks. With collaboration, businesses can have access and increase brand awareness in that network.
- Brands can Borrow and Re-communicate their Values through Influencers
This is extremely important when the chosen influencer has a strong brand displays unique character and values that they can share with you. If these match, you can reaffirm your company’s values through influencers in a way that their following can relate to on a different level.
- Helps With The Formation of a Brand Community
Aside from the considerable number of followers, most influencers have high engagement rates that create a community. But it’s not only a group of people with similar interests—it’s a community that communicates and can further strengthen your brand.
Find the Right Influencers for You
Today, anybody can be an influencer—they are more common than you expect them to be. But it’s rare to find someone that can represent your brand image well.
The number of followers and engagement rate determine their level and purpose. Macro influencers have the highest number of followers, from 100,000 to 200,000. Micro-Influencers can have 10,000 to 20,000 followers with a “close-knit community.” Lastly, Nano influencers have fewer followers but have the highest engagement rate, credibility, and specialization in a specific area.
It can still be challenging to find the best match, especially when it depends on which level of the funnel you are currently in or want to improve. Fortunately, Staub shared her general guide/best practice tips for companies to find the ‘right one.’
- Lay Out Your Values Clear
As a company, make your values clear. Because you will find influencers that match such and amplify your identity, your values should also be genuine to your story and consistent that you can apply them in your company from the inside out. Consumers can tell if it’s trendy—and if it’s fake, they won’t buy it.
- Identify your Target audience
While it aligns with your values, the influencer should also have followers that fit your target audience. It’s not always about how big their community is. What’s important is it matches yours—demographically and geographically.
The Pandemic Accelerated eCommerce
The future is e-commerce, and the pandemic accelerated its growth. With mass isolation, lockdowns, and mobility restrictions, there was a massive rise in the industry, and it’s not stopping any soon.
Shopping with other customers has an irreplaceable feeling—the ambiance and influence of others have contributed to your decision-making process. Businesses should adapt to this evolving industry.
This makes influencer marketing more beneficial. Not only can it partially make up for the customer influence, but it has become a new way to influence the customer decision-making process.
What Brands Miss Out On
The continuous development of the industry puts businesses under the pressure of keeping up. But what makes it harder for some is the lack of resources. Because not all companies have the capacity to engage in user-generated content—or they’re just sure how to.
Staub said that on post-purchase, instead of asking for a review on the site, have your customers showcase your product or service on video. “There are people that are creating content from morning till night on their social platforms, do it for you.” It doesn’t always have to be on social networks all the time. Take this opportunity to drive them to your website.
Another struggle is when businesses forget to go back to basics. They fail to meet and exceed customer needs. Being excited about a marketing strategy is essential to increase your drive to continue but can overshadow the project’s purpose.
Instead, there should be a balance in value sharing. And a consistent reminder of the goal despite the improvements.
[06:40] “If you work in the era of influencer marketing, you know that even before social media, we all turn to some form of an opinion leader– opinion format to help us formulate decision making.”.
[09:36] “The influencer needs to be inspiring because we all want to grow. We don’t want to be who we are today– we want to be who we can be tomorrow and the hereafter. And so we look to find an influencer that allows us growth in one way.”
[11:14] “Customers are not looking just to buy products and services. Customers want magic, they want a story, and your brand be better telling stories that are consistent with its values.”
[20:31] ”Balance comes with creating very clear priorities. No, black and white, what’s important for me, and what is not.”
[08:47] “It creates kind of a buzz, and it starts to create a groundswell, something viral.”
[10:37] “When you’re building your brand, make sure that you relate to your customers.”
To learn more about Natalie Staub and Radd, visit https://raddcontent.com/.
You can also find Natalie Staub on LinkedIn at: https://www.linkedin.com/in/nataliestaub/.
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.