Right, so I was chatting with Luke the other day, and he was telling me about the absolute minefield that influencer marketing can be for new token projects. He’s working on a project launching next year, and he’s trying to get his head around finding influencers that actually mean something to his brand, not just someone with a load of followers.
We dug into this whole concept of ‘Deconstructing the Influencer Persona,’ and it became pretty clear pretty quickly that it’s way more involved than just picking someone with a big number next to their name. Forget vanity metrics; it’s about genuine alignment.
So, where do you even start? Well, Luke was initially focusing on follower count, like most people. But I suggested ditching that approach. First off, you need to build a detailed persona of your ideal customer. What are their values? What platforms do they use? What kind of content do they engage with? Now, you need to find influencers who resonate with that persona.
Think of it like dating – you wouldn’t just pick someone at random. You’d look for shared interests, values, and a connection, right? Same with influencers! It’s about finding someone whose values align with your token project’s ethos and whose audience genuinely cares about what you’re offering.
One thing we talked about was engagement quality. Are the influencer’s followers actually interacting with their content? Are they asking questions, leaving thoughtful comments, or just liking everything without reading it? High engagement shows a real connection between the influencer and their audience. You can use tools to analyse comment sentiment, check for bot-like activity, and even compare engagement rates to follower counts to spot any red flags.
Then there’s audience demographics. Even if an influencer has a million followers, if they’re all in a different country from your target market, or are not in the specific niche you are targeting, they’re not going to be much use. Most platforms offer some form of audience analytics, and many influencer marketing tools provide detailed breakdowns of an influencer’s audience.
Past collaborations are another crucial piece of the puzzle. What kind of projects has the influencer worked on before? Were those collaborations successful? What was the sentiment surrounding those campaigns? Looking at the influencer’s track record can give you a good idea of their professionalism, their ability to deliver results, and whether they’re a good fit for your brand. And don’t just rely on surface-level metrics – dig into the comments and discussions to see what people actually thought of the campaigns.
But it doesn’t stop there. We also talked about the influencer’s personal brand. Do they consistently promote ethical and responsible projects? Do they have a history of promoting scams or pump-and-dump schemes? Their personal brand is a reflection of their values, and if it doesn’t align with your token project, it’s a red flag. A quick Google search can often reveal a lot about an influencer’s past activities and reputation. Also look for news articles and social media posts that talk about the influencers or tokens they have promoted in the past.
Finally, we discussed the risk/reward ratio. Every influencer carries some level of risk. They could say something controversial, get involved in a scandal, or simply fail to deliver the results you’re hoping for. Before partnering with an influencer, you need to weigh the potential benefits against the potential risks. A small influencer with a highly engaged and relevant audience might be a safer bet than a mega-influencer with a broad but less targeted following.
We drafted a basic ‘Influencer Persona Profile’ template, which Luke found super useful. It includes sections for: target audience alignment, engagement metrics, past collaboration analysis, brand consistency, and risk assessment. It’s basically a detailed checklist to help you make informed decisions and avoid costly mistakes.
So, to summarise, it’s important to look far beyond follower counts. Building a detailed influencer persona, analysing engagement quality and audience demographics, scrutinising past collaborations, and assessing the influencer’s personal brand are the critical steps you need to take. It’s about finding influencers whose values and audience genuinely resonate with your token’s purpose. By taking the time to find the right fit, you can build trust with your audience, avoid regulatory issues, and ultimately, increase your chances of a successful token launch.