In the dynamic and ever-evolving world of technology, influencers play a pivotal role in shaping consumer perceptions and driving purchasing decisions. These individuals or groups possess expertise, credibility, and a dedicated following within the tech realm, enabling them to exert significant influence on the technology choices of others. In three lengthy discussions with Enterprise Technology companies at the recent Baptie & Company sponsored Channel Focus 2023 conference, I gathered insights on the current state of influencers in their partner programs, their current views on influencers, and tips they would give others as tech companies begin to deal with influencers more frequently:
Before delving into these tips, it’s crucial to understand the various types of influencers you might encounter. Here are some examples:
- Technology Support Groups
- Industry Consultants
- Global Systems Integrators (GSI) – Partners & Influencers
- Systems Integrators (SI) – Partners & Influencers
- Software & the Different Service Providers, like MSP and Service Delivery Partners – Partners & Influencers
- Independent Software Vendors (ISV) – Partners & Influencers
- Customers
- Individual Developers
- Industry analysts and article writers
- Sub-agents
- Topic-based community leaders
This list is not exhaustive, and each influencer group has distinct ways they expect to be ‘compensated,’ ‘regulated,’ and ‘motivated.’ Technology influencers stand apart due to their unique audiences, goals, and expectations, often differing significantly from your partner ecosystem. To effectively leverage their influence, consider these strategies:
#1) Understand the Influencers in your Technology Ecosystem
Influencers in the technology space can be broadly categorized into two main types: transactional and non-transactional. Transactional influencers receive monetary compensation for their influence, while non-transactional influencers do not. Examples of transactional influencers include sub-agents in the telecommunications industry and data center space, while non-transactional influencers encompass technology bloggers and article writers, topical leaders in groups and communities, and industry experts and consultants.
#2) Identify and Engage Influencers Where They Are
Identifying and engaging with the right influencers is crucial for technology companies seeking to maximize their influence and reach a wider audience. Companies should first map out the influencers in their specific technology ecosystem, considering various factors such as audience demographics, industry expertise, affinity with the brand and technology solution, and content format.
Once influencers have been identified, companies should adopt a proactive approach to engagement. This involves offering value to influencers, whether it’s through soft benefits like training or access to resources, or hard benefits like monetary compensation. Understanding the specific needs and motivations of each influencer is essential for establishing mutually beneficial partnerships. Some common soft and hard benefits you may encounter are:
- Incentives (frequently 10-15% of the deal)
- Training Credits
- Access to Technical Resources & Labs
- Supported Integrations
- Marketing Funds
- GTM Funds
- Proofs of Concept (POC)
- Equipment for Use and Testing
#3) Measure the Impact of Influencer Engagement
Measuring the reach and outcomes of influencers is crucial for evaluating the effectiveness of influencer marketing campaigns that aim to leverage influencer networks and maximize their audience impact. Companies should establish clear key performance indicators (KPIs) aligned with their overall business objectives. These KPIs may include metrics like audience reach, website traffic, social media engagement, lead generation, and sales funnel progression, close rates, and age to close, much akin to how partner and direct selling performance is measured. Not only should KPI’s exist, but you must define who ‘owns’ the influencer in your corporate organization. Frequently, they are either supported by the marketing or the partnership organizations.
#4) Track the Influence: Attribution Links and CRM with PRM Integration
Tracking the influence is essential for evaluating the return on investment (ROI) of influencer marketing campaigns. Two key strategies for tracking influence are attribution links and CRM with PRM integration.
Attribution Links
Attribution links are unique URLs that can be provided to influencers to track their impact on website traffic and conversions. When a potential customer clicks on an influencer’s attribution link, they are directed to a specific landing page on the company’s website. This allows companies to identify the source of traffic and attribute it to the specific influencer.
CRM with PRM Integration
Integrating influencer marketing data with a company’s customer relationship management (CRM) and partner relationship management (PRM) systems provides a holistic view of the influencer’s impact on the sales process. By registering influenced deals in the PRM, which synchronizes with custom objects in the CRM (Mindmatrix being an example of this solution), companies can track the influencer’s involvement from initial interaction to final purchase, either through automation or manual entry. This consolidated data can then be analyzed to assess the ROI of influencer marketing campaigns and identify the influencers generating the most leads and sales.
Tracking influence through attribution links and deal registered CRM integration offers several benefits, including:
- Improved ROI Measurement: Accurate tracking of influence enables companies to measure the ROI of their influencer marketing campaigns, their influencer network overall, and make informed decisions about future investments.
- Optimized Influencer Partnerships: By identifying the most effective influencers, companies can optimize their influencer partnerships and allocate resources more effectively to those that provide the best benefit, and place ‘risk’ focus on brand antagonists.
- Enhanced Campaign Effectiveness: Tracking influence allows companies to identify the most successful aspects of their influencer marketing campaigns and replicate those strategies in future campaigns.
#5) Verify Influence by Leveraging Direct Sellers or Partners Involved in the Deal
In addition to tracking influence through attribution links, comprehensive PRM platforms like Mindmatrix, and CRM integration, it is crucial to verify the influence registered for a deal by confirming the influencer’s involvement through direct sellers or partners involved in the deal. This can be achieved by:
- Requiring direct sellers or partners to provide documentation of the influencer’s involvement in the sales cycle. This documentation may include emails, posts, video, articles, or other records that show how the influencer interacted with the potential customer and impacted their purchasing decision.
- Using third-party tools or services to verify influencer claims. These tools help with attribution and can analyze influencer social media activity, website traffic, and other data to provide a more objective assessment of their influence.
Conclusion
Technology companies can effectively leverage influencers as one impactful way of achieving their marketing and sales goals by adopting a strategic and data-driven approach. By mapping out their influencer ecosystem, offering value to influencers, measuring influence, tracking influence through attribution links, deal registration and PRM and CRM integration, verifying influence from direct sellers or partners involved in the deal, and effectively unwinding influence, companies can maximize the impact of influencers and drive increased growth in the competitive technology landscape.
