Twitter was in the headlines last week when Elon Musk finally took over the social network at the end of October 2022. Even in the first few days, the Tesla founder made far-reaching decisions and fired senior executives. What does this mean for the platform? And what consequences can Twitter's acquisition have for brands that use Twitter as an influencer marketing platform?
Early in the morning on Friday, October 28, 2022, Tesla CEO Elon Musk tweeted, “the bird is freed,” while the acquisition of the rapid messaging service Twitter had yet to be decided by the courts.
In the course of Friday, it was clear: Elon Musk was buying Twitter for $44b. One of his first official acts was the dismissal of high-ranking executives, including the previous company CEO Parag Agrawal and CFO Ned Segal. Watch the Wall Street Journal’s explanation of the six-month battle between Musk and Twitter to buy the platform:
As reported by the New York Times, Musk initially wants to take over the leadership of the group himself as he has some ideas for this. In addition, the NYT states : “Cryptocurrency enthusiasts are cheering for a decentralized social network. Supporters of Donald J. Trump hope that the former president will return to tweeting. Some free speech advocates envision an end to censorship. And loyal fans of Elon Musk are betting that the billionaire will innovate.”
What will really happen to the short message service and how much Musk’s changes or innovations will affect Twitter, and thus influencer marketing on the platform, is still uncertain today. Thus, follow Kolsquare on LinkedIn to make sure you never forget an article on the topic.
In the meantime, let’s take a look at how brands and businesses can use Twitter for influencer marketing now. After all, the changes Musk may be aiming for are only speculation and not yet a reality. Consequently, marketers can still benefit from the platform’s strengths.
In general, engagement rate is an extremely important metric for marketers, especially in relation to influencer marketing. The interaction that influencers have with their followers is typically high because they have built their community with authenticity and expertise and people follow them because they value their opinion.
Also, read:
In the graph, you can see the Twitter engagement rate according to the top topics on Twitter. Note that the average is only 0.037%.
Graphic by Rival IQ
These industries and topic areas were popular on Twitter and therefore improved their engagement rates:
Overall, the frequency of tweets increased by 13%; media and sports teams tweeted more than all topic areas and industries combined. However, while sports teams had a corresponding engagement rate according to their frequency, media outlets showed that tweeting more does not equal higher engagement. Always keep that in mind: Quality trumps quantity on any social network.
Step one for any influencer marketing campaign is to first understand who is important in your industry and where your target audience can be found. So, after your goal definition, if both lights are green for Twitter as answers to these questions, you’re ready to get started with your influencer marketing campaign on Twitter.
Step two is to identify the right influencers. Again, of course, the question is who has a weighty voice in your industry and who has your target audience as a fan base? Furthermore, you look at the engagement of the accounts you consider for collaboration. On Twitter, this means you know about the retweets, comments, and the number of general followers and tweets.
Software like Kolsquare can help you identify influencers. Our technology allows you to find the perfect influencer using many different filters. Read more about the dos and don’ts of automating your influencer marketing campaigns on the Kolsquare blog here.
So now you can start contacting the Twitter influencers of your choice. The first impression counts! Communicate openly and honestly why you want him or her, what you hope to get out of the campaign, and what you have in mind. Then listen and give the influencers creative freedom.
All these points are hardly different from influencer marketing campaigns on other platforms as they are the essence of any influencer marketing. Following below are even more tips that are specific to the short messaging service.
Just as you give your influencers creative freedom when planning campaigns, you should not influence their wording on Twitter. Especially on Twitter, influencers are known for their quick wit and wordiness, so take advantage of their unique voices.
Promotions such as a landing page or promo codes are ideal for sponsored tweets. Your goal should be to bring Twitter users from the platform to your website, for example, so that they perform the desired action there. The tweets should be eye-catching, or they will get lost in the mass of messages that are shared on the platform every day. Unlike Instagram, for example, Twitter offers Shopify integration but no e-commerce benefits of its own. Maybe Elon Musk will change that? We’ll see.
Also read: Explained: Shopify and influencer marketing and e-commerce and influencer marketing: what are the advantages of this combo?
Of course, you need to measure the performance of the campaign in general and the performance of your influencers on Twitter in particular. Only through this data can you ultimately determine whether the collaboration has paid off and should be repeated. Kolsquare provides you with daily updates and reports on the measurement and performance of your campaign. Request a free demo for the Kolsquare software now.
Kolsquare is Europe’s leading Influencer Marketing platform, a data-driven solution that allows brands to scale their KOL Marketing strategies and implement authentic partnerships with KOLs (Key Opinion Leaders). Kolsquare’s technology enables marketing professionals to easily identify the best Content Creators profiles by filtering their content and audience, and to build and manage their campaigns from A to Z, including measuring results and benchmarking performance against competitors. Kolsquare has built the largest community of influencer marketing experts in the world, and offers hundreds of customers (Coca-Cola, Netflix, Sony Music, Publicis, Sézane, Sephora, El Corte Inglés, Lacoste, …) the latest Big Data, AI and Machine Learning technologies to drive inspiring partnerships, tapping into an exhaustive network covering 100% of KOLs with more than 5,000 followers in 180 countries on Instagram, TikTok, Twitter, Facebook and YouTube. As a Benefit Company, Kolsquare has been pioneering Responsible Influence by championing transparency, ethical practices, and meaningful collaborations to inspire change.
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