An Insider's Look at the Influencer Marketing Industry [OpenInfluence Interview] - podcast episode cover

An Insider's Look at the Influencer Marketing Industry [OpenInfluence Interview]

Your Digital Marketing Coach with Neal Schaffer
Oct 08, 2018•28 min•Transcript available on Metacast
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Episode description

What are the biggest issues facing the influencer marketing industry today? And how can marketers best navigate the influencer landscape? Join me for an exclusive insider's look at the influencer marketing industry in this interview with Eric Dahan, CEO of the leading influencer marketing technology company OpenInfluence.

Key Highlights

[00:24] Introduction of Podcast Guest, Eric Dahan

[01:31] How Powerful Is Influencer Marketing?

[05:16] The Types Of Influencers Brands Should Be Working With

[10:00] Things That Brands Need To Improve Upon Working With Influencers

[10:32] The Common Mistakes Brands Do In Influencer Marketing

[15:03] Influencer Marketplace Model

[15:41] The Issues With Influencer Marketplace

[21:22] Friction Of Supply And Demand

[25:01] Influencer Pricing

[27:23] Connect With Eric And Open Influence

Notable Quotes

  • I think, you know, the reasons why influencer marketing is so successful, is pretty straightforward. You know, there's so much information out there, there's so many ads out there. 
  • And so it makes sense that when you have an influencer, that you're already following, you're already consuming the content they create, when they integrate a piece of branded content with their normal content stream. It just resonates a lot better, right?
  • At the end of the day, you know, there's no one size fits all strategy, right? For a very simple level,, you have three components, right? You have the message, the messenger, and the audience, and all those three things have to be aligned, to have something really resonate and be effective. 
  • And so you know, believe me when I say, we love nothing more than dynamic marketplaces, and being able to extract deficiencies with transparency.
  • I think the right approach is identifying the right influencers, and then shopping from those influencers, having them compete against one another, for opportunities. And that's a really good forcing function for driving, you know, cost down in value up. 
  • But in today's world, with the emergence of social media, with the emergence of mobile, native social platforms, you opened the door to, you know, from a handful of celebrities, to now hundreds of 1000s and millions of people becoming, you know, influencers.
  • And so there are all these different variables that really affect and influences price, because influencers are people and for them, they don't really have a high cost structure, right, they've recovered, essentially their living expenses, but they don't have any cost of goods sold associated with what they're selling.

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