Influencer marketing is no longer a social media buzzword, it is a viable marketing strategy that has proved valuable for brands large and small. Over 90 percent of marketers agree that influencer marketing is effective. And the ROI of influencer marketing campaigns can be as high as $18 per every dollar spent.
Data like this is pretty compelling, especially for brands looking to revamp their marketing efforts with creative social media power.
Brands may know what influencer marketing is, but fail to develop strategies to implement influencers into the overall marketing mix up. This is why influencer marketing platforms are thriving in 2020.
Essentially, influencer marketing platforms take the guesswork, and time-consuming nature of finding the RIGHT influencers, out of the equation. How? A reputable and skilled influencer marketing platform has the network of influencers brands want and need.
Need is the keyword here, because consumers no longer trust product and/or service recommendations from brands. This is why so many consumers rely on influencers to find the latest and greatest online. Influencers are a trusted intermediary between brand and customer.
Here’s how Nike utilizes influencer marketing to create the brand to consumer connection . . .
Brands also don’t want to waste valuable time and money researching influencer marketing best practices, influencer strategy, and ways to achieve influencer campaign success. Why would you when there are pros ready to do it for you?
What’s the future of influencer marketing platforms? Influencer marketing platforms themselves. The evolution of influencer marketing pricing and influencer databases has created platforms highly focused on data-driven results.
If you have used an influencer marketing platform in the past, you may have felt a disconnect when it came down to finding influencers and creating successful campaigns. This is because data was not integrated into all processes.
Data is the key to success! Let’s take a look at why and how data is reshaping the way infñuencer marketing platforms achieve success for brands and influencers alike.
As more brands venture into influencer marketing for maximum ROI, influencer marketing platforms need to step up their game to stay competitive. The platforms with the best data-driven processes and results will own more of the market.
And there is plenty of market revenue up for grabs. A market analysis report found that the influencer marketing platform market size CAGR will exceed 26 percent from 2019 to 2025.
Data-driven analytics, pricing, and influencer databases will be at the core of this market growth.
Brands and marketing agencies searching for a streamlined solution to influencer marketing will partner with platforms that have data and analytics proving concept. Scalefluence is one such influencer marketing platform delivering data-driven processes brands and marketing agencies rely on.
Content is critical to the success of any influencer campaign. This goes for any social media channel, from YouTube to Instagram. The content created in order to influence the masses should be a top priority.
But what type of content, and in what form should that content be delivered? This is one of the biggest obstacles brands run into. Pairing content with the target audience, as well as tying it all together with the right influencer is challenging.
The good news is that data-driven content creation can simplify the process with powerful results. Influencer marketing platforms can use algorithmic data to find the best content type and form based on the target audience. Once this is identified, the platform can tether the approach with the perfect influencer.
Here’s a great example from fitness and health Instagram micro-influencer @taralondon and bottle company S’well . . .
S’well is a bottle company that teamed up with this micro-influencer in order to reach the loyal fitness followers she has, as well as the earth-conscious. It may seem like an odd pairing at first, but the type of content blends perfectly with the influencer and campaign.
This is what data can provide when it comes to identifying the perfect content and perfect influencer for the job. Creative, simple, and enticing.
Form of content is also critical. More and more consumers are going the way of video content. And for brands and influencers looking to exponentially increase engagement, video content is optimal.
For travel influencers, whether nano-influencer or mega-influencer, video content is the top form to produce. If you have a travel-minded company and want to maximize influencer campaign ROI, the form of content should be video, and the influencer should know just how to produce an enticing video for your brand.
Here’s a video content example from YouTube travel influencer Dan Flying Solo . . .
You can see that this travel influencer teamed up with Lonely Planet and delivered a sponsored content link in the video description . . .
Influencers are not all created equal. There are a lot of factors that go into finding the RIGHT influencer for your brand and influencer campaign. This can be tricky when doing without influencer marketing platform expertise.
Why? There are a ton of fake influencers out there. And discerning if an influencer is fake can be very challenging. These fake influencers are pros at hiding the truth. The good news is that influencer marketing platforms know how to qualify influencers to ensure they are legit.
Once an influencer is found to be top quality, they are added to the influencer database of the influencer marketing platform. Influencer databases can have thousands of influencers, so how do brands know which influencer is a good fit? Data!
Based on key factors and influencer campaign guidelines and requirements, data-driven analytics will match your brand with the perfect influencer.
This is based on a number of factors, such as followers, overall engagement rate, engagement rate per post, type of content creation, audience demographics, primary target audience, secondary target audience, and more.
This is another essential part of influencer marketing. Knowing just how much to pay an influencer, or what to offer him or her is difficult. This is especially true for brands and marketing agencies just entering into the influencer marketing space.
If you Google search “how much influencers make” you will find this in the top results of the Google SERP . . .
Those are some pretty big dollar amounts, regardless of how big your brand is. Imagine not knowing better and shelling out $100,000 for a sponsored post, only to get minimal ROI. Not good!
Partnering with an influencer marketing platform that uses data-driven influencer marketing pricing ensures you are not over paying influencers. And you will get maximum value for your influencer budget.
Influencers also like this benefit when working with influencer marketing platforms, since they never get underpaid for their creativeness and loyal following. It is a real win-win for brands and influencers alike.
Having expertise in your brand’s corner when it comes to influencer marketing is critical. Scalefluence is a premiere influencer marketing platform that utilizes data to achieve success for its brands, agencies, and influencers.
With a robust influencer database, brands can find the perfect influencer, create a successful creative campaign, and receive the ROI that makes influencer marketing worth it. From YouTube to Instagram, we have the influencers your brand needs. Sign up today to tap into more social influence.