From Analyst Relations to Influencer Relations
Duncan Chapple posts an interesting comment on the expansion of analyst relations (AR) departments to a wider Influencer Relations approach. He notes that in starting from an AR perspective firms may miss out key groups of influencers, or gather them together as “left-overs”, and subsequently treat them inappropriately. I agree.
I think AR (or PR for that matter) can be a good starting point to adopt an influencer model. AR is a defined function within most firms, and (importantly) has a line-item budget allocation. There is also an established body of good practice and plenty of discussion to keep AR fresh and top-of-mind.
If you’re coming at influencer from an AR starting point, then SAP’s model is a great archetype to follow. Don knows that his model will evolve over time, as indeed it has done already, but you’ve got to start somewhere. Redefining AR as a sub-division of Influencer Relations is a start, if for no other reason than it identifies the gaps to fill.
I do think, however, that the ‘Relations’ model (AR, PR, media relations, investor relations, influencer relations) is often seen as an end in itself. At a practical level, in most IT organisations there is little coherency between relations and any marketing or sales activity. Sure, an analyst may be wheeled out at a lead generation event, or quoted on a product website. But it’s hardly integrated marketing.
AR and PR firms complain that they’ve been pushing an influencer model for several years, but firms lack the budget or insight to implement such a shift.
Not true – firms are deploying influencer models, but they are mostly not starting from within the AR and PR functions. They are typically emerging from operational marketing functions. Why is this? It’s simply because marketing is increasingly ineffective through the use of traditional models. It’s hard to differentiate a message, even harder to get that message heard, and even if it is heard, you’re unlikely to be believed. Why? Because it’s you that’s delivering the message. Get an influencer to deliver the same message, and it’s more likely to be trusted.
More importantly, by understanding why customers don’t buy from you, and then mapping influencer-led messages onto those objections, you can create a portfolio of counter-arguments based on what influencers are saying. That’s Influencer Marketing.
Unsurprising, then, that most firms truly engaged in an Influencer model are coming less from an AR or PR start, and more from a marketing start.
Influencer Marketing, as we define it, is precisely aimed at growing sales. It does this through a process of influencer identification and engagement, leading to an embedding of influencer-led messages that support and enable sales.
Influencer relations may get you on a shortlist. Influencer Marketing will make sure you get the purchase order.
I think AR (or PR for that matter) can be a good starting point to adopt an influencer model. AR is a defined function within most firms, and (importantly) has a line-item budget allocation. There is also an established body of good practice and plenty of discussion to keep AR fresh and top-of-mind.
If you’re coming at influencer from an AR starting point, then SAP’s model is a great archetype to follow. Don knows that his model will evolve over time, as indeed it has done already, but you’ve got to start somewhere. Redefining AR as a sub-division of Influencer Relations is a start, if for no other reason than it identifies the gaps to fill.
I do think, however, that the ‘Relations’ model (AR, PR, media relations, investor relations, influencer relations) is often seen as an end in itself. At a practical level, in most IT organisations there is little coherency between relations and any marketing or sales activity. Sure, an analyst may be wheeled out at a lead generation event, or quoted on a product website. But it’s hardly integrated marketing.
AR and PR firms complain that they’ve been pushing an influencer model for several years, but firms lack the budget or insight to implement such a shift.
Not true – firms are deploying influencer models, but they are mostly not starting from within the AR and PR functions. They are typically emerging from operational marketing functions. Why is this? It’s simply because marketing is increasingly ineffective through the use of traditional models. It’s hard to differentiate a message, even harder to get that message heard, and even if it is heard, you’re unlikely to be believed. Why? Because it’s you that’s delivering the message. Get an influencer to deliver the same message, and it’s more likely to be trusted.
More importantly, by understanding why customers don’t buy from you, and then mapping influencer-led messages onto those objections, you can create a portfolio of counter-arguments based on what influencers are saying. That’s Influencer Marketing.
Unsurprising, then, that most firms truly engaged in an Influencer model are coming less from an AR or PR start, and more from a marketing start.
Influencer Marketing, as we define it, is precisely aimed at growing sales. It does this through a process of influencer identification and engagement, leading to an embedding of influencer-led messages that support and enable sales.
Influencer relations may get you on a shortlist. Influencer Marketing will make sure you get the purchase order.
Labels: analyst relations, influencer marketing, influencer relations, SAP
posted by Duncan Brown at 11:11 am
2 Comments:
Hi, just found your blog. It is an interesting point that you attempt to make between PR and marketing, which is hard to distinguish from one another, but it seems to me that the distinction isn't yet clear. In terms of metrics, the ever difficult data to wrangle, how would you map "influencer marketing" in a way that cannot be possible with AR or PR? Also, PR agencies are really challenged because they craft most of the messages, but it usually is better to identify messages that are out there and foster them rather than creating messages that will make bloggers particularly queasy of the lack of authenticity from overly practiced stories.
Thanks for your comment, Clara. I think Influencer Marketing is different to PR and AR because it directly and tangible attempts to influence sales. By mapping influencers to sales objections firms can overcome reasons not to buy, and these reasons are powerful because they come from influencers.
PR and AR has a hard job of tangibly affecting sales today, though I know of a few firms that have succeeded. PR and AR will have to evolve to improve this situation, or see a continuation of the commoditisation of their business model. AR is best place to make this evolution, I think. PR firms will try and osme are already branding their activiities as Influencer Relations, but it's often dressed-up PR.
Post a Comment
<< Home