At just 22 and 21 respectively, Trufan co-founders Swish Goswami and Aanikh Kler already have a ton of overwhelming achievements for their ages. Swish is a serial tech entrepreneur, venture capitalist and author who's consulted for brands like Google, Western Union and American Express. Aanikh, at age 14, became one of the youngest app developers in the world to have a top three app when his app UndrTheRadr reached the No. 2 spot in the app store, beating out apps like Angry Birds and Minecraft. Aanikh is also the youngest social entrepreneur ever to receive venture capital funding on CBC's Dragons' Den.
On this episode, we talk about what's not working with influencer marketing, ways brands can track influencer ROI and the impact of social on mental health.
Influencer Marketing Tips for Brands:
- Shift from Mega to Micro-influencers. "If you take a look at all the major brands right now, there's a big turn right now away from large influencers and celebrities. Even Ebay and Unilever both came out and said, we're not going to do influencer marketing as much anymore. We're going to focus on who are the influential sellers or buyers within our company. We're going to empower them to go and tell our narrative, our story and get their communities all rallied up. And that's cool, right? Because you know, micro influencers that have zero to 50,000 followers tend to have way higher engagement rates on each post than somebody with over a million followers. That's just how the algorithm works." - Swish
- Consider Influencer Marketing without the Influencer. "We've had some brands come to us and say, 'hey, we actually don't want to work with an influencer, but we want to work directly with their audiences,' so they can come to us as long as they use our public profiles on Twitter or Instagram, we can provide an influencer's audience to a brand and they can directly activate them. That's step three in my opinion, is influencer marketing without the influencer. I think influencer marketing will always exist. It'll just happen in different variations." - Swish
- Get Smart about Tracking Influencer ROI. "Being able to see how much of this audience has actually come over to my page and liked my content or engaged with my content (put a comment, retweeted something, replied to a tweet). I think that's a really cool way to track ROI versus just saying, 'my goal is to get, you know, half a million impressions and 100,000 likes.' Being able to actually track long-term month-over-month cross-pollination of audiences I think is a really powerful way to track influencer marketing if it's being done right." -Aanikh
- Move Social Influencer Dollars to Experiential. "It could be really neat, if you wanted a buzz to be on social media around your product, to throw an event. Find out where are your top fans and where all your competitors' top fans are and throw an event there. Invite all these shaving enthusiasts, give them all free blades, tell them to put one post up and then start building content from there. Document it, put into short-form microcontent and then you have six months of a pipeline, basically to turn it into whatever you want." - Swish