April 5, 2018 9:25 am
In most influencer campaigns, there are three primary stakeholders. You are probably one of them; a brand, an influencer, and an audience. Each of you has something unique to gain from the other as well as something unique to offer. Being able to both contribute and benefit is where the concept of shared value originates.
Shared value is a philosophy and a business practice that should be explored and practiced to make all those in an influencer marketing ecosystem happy. The long-term benefits of shared value relationships are loyalty, impact, enhanced communication, better return on investment and financial reward.
Let’s start with understanding the big picture, the needs of all stakeholders and where these overlap.
This graph shows some of the objectives, goals, and desires of the three groups. These are not ALL of the possible goals of each, but an example for the sake of getting across the point. You can substitute the ambitions for all on a campaign by campaign basis.
Here are some ways you can ensure you foster an environment of shared value:
An audience wants to be understood by a brand. Brands want to better understand their consumers. Influencers can offer a solution for both sides by providing brands with relevant insights into their audience. I have found that market research with influencers is a super underutilized benefit of influencer collaborations!
Influencers can take advantage of the additional production value of working with brands to create high quality, authentic content that their audience wants to consume and engage with.
The brand’s objective to amplify their content can be correlated to the influencers goal of getting paid for access to their audience. When a brand remunerates an influencer, they receive greater reach and impact.
When brands collaborate with influencers to build advocacy, influencers solidify their business, brands receive added value from the influencers and audiences develop stronger loyalty to the brand.