August 20, 2021
Anecdotally, we know influencer marketing campaigns are effective. Each one of us has searched for or bought a brand, product or service because a content creator recommended it. It’s finding statistical proof that explicitly establishes ROI that’s hard. 84% of marketers say it is an uphill challenge.
And therein, lies the dilemma of collaborating with influencers.
Even when brands know that influencer campaigns work, they are hesitant because it’s hard to assign a dollar value to them. And when you’re battling for marketing spend, any activity that can’t show hard figures is set on the back burner.
And that’s why brands need to rely on an influencer marketing platform.
Getting out of the measure or burn situation
Influencer marketing platforms, like us (yes, we’re tooting our own horn here), can measure and report effectiveness. The technology that powers them evaluates success through impressions, reach, views, and engagement and does it in real-time.
You get a 360° view of the campaign and the metrics attest to the overall impact, so that you know where the campaign stands at any given moment. With hard figures at your fingertips, proving the value of the marketing effort is not a problem.
The incidental benefits of influencer marketing platforms
The ability to measure ROI is one reason why brands should use a platform for influencer marketing. A better argument for the case is end-to-end campaign management.
Carrying out an influencer collaboration is a Sisyphean task. From discovering creators to overseeing contracts to managing content, typically it all falls on the shoulders of a campaign manager. Even with a team in place, successfully completing it all is a big ask. Pinning it on just one person is simply setting yourself up for failure.
But with a platform, most of the campaign processes are automated.
The toughest part of influencer marketing is finding the right creators. It takes time, effort and even then, results are not guaranteed. But the algorithms used by platforms make the process effortless.
- Each creator is carefully vetted for bots and fake followers.
- Key success metrics are combed through, including previous campaigns.
- Past content is browsed through to ensure the brand and the creator are in synergy.
- The final choice is made through personality-based matching.
More than that, it ensures that the creators you partner with are relevant to your brand, ensuring an authentic campaign that drives concrete results.
Another issue with creator collaborations is the content. When you run a campaign using a platform, you are in complete control of it. No post goes live without the stamp of approval, guarding brand safety. You also have access to content at scale. So, you can pick the best of the bunch, minimizing any risk to the brand’s image and reputation.
Not only can you keep an eye on every piece of content submitted, but you can also monitor how each creator is performing and how effective the overall campaign is right from the dashboard. An added benefit is analytics that offers insights to make mission-critical decisions like:
- Which creators should you collaborate with again?
- Which content performed the best and should be bought for perpetual rights?
- Do you need to pivot the campaign for a better impact?
Influencer campaigns must be thoughtfully planned and carefully executed. One misstep, like collaborating with a creator who is poles apart from your brand ethics, can turn into a costly mistake. The intelligence of technology reduces this risk to your marketing spend.
Moreover, influencer marketing platforms allow you to harness the power of micro and nano-influencers. For the budget of one mega-celebrity, you can tap thousands of small creators to advocate for your brand.
They’re light on the pocket and their engagement rate is 9%, nearly triple the industry average. Why? Because their followers are real people (and not bots). The lack of fake followers is just part of it; the other is human nature. Fewer followers = more interaction = greater trust = more belief.
Try it before you buy it.
We can sing a rhapsody about influencer marketing platforms.However, the only evidence you require is your own. So, give it a try, run a free campaign, and you’ll quickly realise it’s a tool you can’t live without.