Podcast Summary: SPECIAL SERIES: TRUTH+DETAILS on MICRO-INFLUENCER DEALS 🚽 | BATHROOM Break #31 (COLLAB: The Marketing Millennials + Do This, Not That)

Release Date: December 2, 2024

In this engaging episode of "Do This, NOT That!" presented by GURU Media Hub and sponsored by Marigold, hosts Jay Schwettelson and Daniel Murray delve into the intricacies of micro-influencer deals. Titled "TRUTH+DETAILS on MICRO-INFLUENCER DEALS," this special Bathroom Break episode offers valuable insights into how these partnerships are structured, their effectiveness, and best practices for businesses considering this marketing strategy.

Introduction to the Bathroom Break Series

The episode kicks off with a casual and humorous introduction to the "Bathroom Break" series, emphasizing the short, 10-minute format designed for busy listeners to either catch up on marketing tips or take a bathroom break—though neither host recommends multitasking during the podcast.

[00:08] A: "Welcome to a new special series called the Bathroom break... But I don't recommend both. But that's your choice."

Personal Anecdotes and Building Rapport

Before diving into the main topic, the hosts share personal stories to build rapport. Jay humorously discusses his recent colonoscopy, turning an uncomfortable experience into a light-hearted conversation. This segment not only humanizes the hosts but also sets a relaxed tone for the discussion.

[01:07] B: "I hate you so much. So I had a colonoscopy this week... and then immediately afterwards, you could eat whatever you want."

Unveiling Micro-Influencer Deals

Transitioning to the core topic, the hosts explore the concept of micro-influencer deals. Jay emphasizes that despite their modest follower counts (50,000 to 200,000), micro-influencers can deliver significant value without the hefty price tags associated with mega-influencers.

[02:22] B: "Micro influencer deals actually work better than if you get a massive influencer because you get a massive influencer, you got to pay a boatload of money. But micro influencers, you don't have to pay a lot of money and you can get some good bang for your buck."

Structure and Effectiveness of Influencer Deals

Jay outlines the typical structure of a micro-influencer partnership, highlighting key components such as platform focus (e.g., LinkedIn), content types (e.g., social posts), collaboration on copy, and performance reviews. He provides a realistic cost estimate, suggesting that engagements with micro-influencers typically range from $5,000 to $25,000 per quarter.

[02:22] B: "They're going to do three social posts over, you know, a 90 day period... you're looking at anywhere from like 5,000 to about $25,000 per quarter for that type of engagement."

Types of Influencer Deals

Daniel expands on the various types of influencer deals, differentiating between affiliate deals, one-off posts, and long-term partnerships. He critiques one-off deals for their limited impact and underscores the importance of multiple touchpoints to build trust with the audience.

[04:21] A: "There are a few types of influencer deals out there... I don't like one off deals for influencer stuff because it's hard to... you need multiple touch points just like you do on Facebook."

Negotiation and Best Practices

The discussion shifts to negotiation strategies and best practices for both influencers and companies. Daniel advises influencers to quote higher rates to allow room for negotiation, given the industry's lack of transparency regarding compensation. He also emphasizes the necessity of clear briefs to set guardrails without stifling the influencer’s authentic voice.

[04:21] A: "Always give a higher number so you can negotiate done... the point of a brief is not to tell the creator what to say. It's to give them guardrails that hey, stick in this lane."

Value Proposition of Micro-Influencers

Jay highlights the unique value that micro-influencers bring, such as quasi-endorsements and built-in trust within their communities. He encourages businesses to experiment with micro-influencer marketing as a cost-effective channel, stressing that even B2B companies can benefit from these partnerships.

[08:02] B: "There really is a lot of value there because you're able to get this quasi endorsement from somebody who has a big following on the consumer side or on the B2B side."

Maintaining Authenticity and Long-Term Relationships

Daniel and Jay agree on the importance of authenticity and maintaining long-term relationships with influencers. They caution against forcing influencers to adopt a voice or style that doesn't resonate with their audience, as this can undermine trust and effectiveness.

[08:02] B: "Don't try to change what that influencer does or how they speak... if it's mean or if it's whatever, it won't work with their audience because that's why their audience follows them."

Future Trends in Influencer Marketing

Looking ahead, the hosts speculate on the evolution of influencer marketing, predicting a rise in year-long partnerships similar to how brands like Nike engage with their athletes. They foresee this trend extending beyond B2C into B2B sectors, creating sustained and impactful collaborations.

[08:02] B: "I really believe that there will be a wave where there will be like how Nike had Jordan... companies will have year long b2b influencers or companies will have year long influencers as their face of their company."

Conclusion and Final Thoughts

As the episode wraps up, the hosts return to lighter conversation topics before encouraging listeners to follow their respective podcasts. Jay promotes "Do This, NOT That" for weekly marketing tips, while Daniel invites listeners to engage with the "Marketing Millennials" podcast and contribute ideas for future episodes.

[12:52] A: "Check out my podcast, do this, not that, for Marketers... tell us what you want to hear."

Key Takeaways

• Micro-Influencers Offer Cost-Effective Marketing: With follower counts between 50,000 to 200,000, micro-influencers provide substantial reach without the high costs of larger influencers.

• Structured Partnerships Yield Better Results: Long-term collaborations with clear briefs and multiple content touchpoints build trust and authenticity, enhancing campaign effectiveness.

• Authenticity is Crucial: Influencers should retain their unique voice and style to maintain audience trust, ensuring that promotions feel genuine.

• Diverse Deal Types: Understanding the differences between affiliate deals, one-off posts, and long-term partnerships helps both companies and influencers choose the best strategy for their needs.

• Future of Influencer Marketing: Anticipate a shift towards sustained influencer partnerships across both B2C and B2B sectors, fostering deeper brand associations.

This episode serves as a comprehensive guide for marketers looking to navigate the landscape of micro-influencer deals, offering practical advice and actionable insights to optimize their influencer marketing strategies.