How to Think About Influencers And Competitive Products
Credibility is a must in influencer marketing. Placing your product in a context that feels genuine and with a profile that reaches your target audience should therefore be of the highest priority. But how should you as a brand think when it comes to influencer marketing for competing products? And what happens to credibility when a profile collaborates with products that compete with each other? In this post, we answer common thoughts and misconceptions in the area, and give you concrete tips on how to think.
What type of product do you provide?
Rare products and services are often very important because they are of great importance to the consumer, such as choosing a bank or buying a new car. That rare purchase products are not something you buy several times a month is nothing new; for example, you do not have two different child insurances at the same time and you do not buy a new car every week.
When it comes to FMCG (Fast Moving Consumer Goods) products, such as jewelry, clothing or groceries, it is by no means uncommon for us consumers to use several different brands at the same time. If you take a second and think – how many different brands do you wear today? Most likely at least four, and many come up in similar numbers – only on accessories.
Depending on whether it is a rare purchase product or FMCG, this also affects how you should think about influencer marketing and competing products. Influencers are people just like you and me, and their followers relate to the profile they follow in the same way they do to a friend. The fact that an influencer markets two different food products or clothing brands at the same time does not have to affect credibility. However, you should beware of products that most people buy from us the purchase less often, or maybe only once in a lifetime. For rare purchase products, it is important that you do your research; For example, has the profile recently partnered with a direct competitor for you?
Do you want exclusivity with a specific influencer?
Another aspect to keep in mind is whether your brand wants the exclusivity of an influencer. Exclusivity means an agreement where the profile in question is limited in its other collaborations with other brands. If this is something that is in demand, it is good to know that the price tag in most cases increases with exclusivity. This is because the selection for other collaborations (= increased income) for the profile narrows. It is important to keep in mind if you want exclusivity is that the profiles may reject your request, if they are not offered a more long-term collaboration with your brand.
Instead of banning all competing products, it is more reasonable to specify one or two brands with which you want to avoid the profile collaborating. There should also be a specified time period for this. In this way, you maximize the chances that your brand can collaborate with the profiles that suit your brand, KPIs and target group absolutely best, while at the same time you can draw a line against your most obvious competitors.
Is the job description reasonable?
Finally, it is important to take with you when defining the assignment description for the collaboration is what is actually reasonable. Job description means the brief that influencers must follow within the collaboration. Think about it – what requirements do you place on the profile and is it a decent job description with the right conditions for a successful collaboration? Who exactly are direct competitors, and in how many cases would it really hurt your brand that you appeared close to each other? If you are too harsh in your brief, the risk increases that influencers, who would be completely right for you, say no – and believe it or not, but the credibility will most likely not increase due to strong restrictions on collaborations with competing products. As with a lot, it’s about common sense and making sure what the buying behavior looks like for your particular product or service.