Impact of influencer marketing
Yield influencer marketing results by overcoming brand marketing challenges. Experience the impact of influencer marketing now with recommendations from trusted source. Marketers and audiences alike have been captivated by influencers on social media. Who doesn’t want recommendations from trustworthy sources? And what brand doesn’t want to be the one recommended by influential social media users?
Word-of-mouth works, and influencer marketing has proven its worth on a wide range of channels and platforms—the latest of which is social media.
Brand marketing challenges
Despite its current popularity, the increasingly crowded and convoluted influencer marketing space is facing some big challenges. It’s not just an ad hoc marketing experiment anymore. Marketers and brands are starting to think about influencer marketing in a more strategic way, and they are demanding more from their partnerships: more transparency, more accountability, and better education overall.
Here are five key takeaways for marketers on some of the biggest challenges and opportunities in influencer marketing.
1. Establish Clear Responsibility
An important step toward improving the strategic value of influencer marketing is establishing clear responsibility. Dedicate influencer marketing team is important. Influencer marketing should be included in the general marketing budget. This is responsible for developing quality influencer marketing strategy. With greater strategic influencer focus, there may be a rise of dedicated teams within the marketing department to manage influencer marketing.
2. Greater Transparency B2B/B2C
The social media influencer marketing space has exploded—with agencies, ad-tech companies, and publishers all vying to get a piece of the pie. Unfortunately, that proliferation of tools, tech, and consultants has done little to reduce the overall confusion around influencer marketing.
But as brands work to build better influencer strategies, they are also seeking education on best-practices, influencer pricing for brands, and the rules of the game. In fact, brands and audiences alike are calling for more transparency and more accountability in the influencer space: Consumer audiences want more insight into the ways brands are using influencers; brands want more useful historical data about influencer performance.
3. Long term Authentic Influencer Partnerships
The survey results suggest a strained relationship between brands and influencers. Although brand affinity and creator authenticity are crucial for marketers, less than one-third said they trust influencers to create content.
Many marketers still want to control and double-check influencer content before it goes live, and some even want final approval. Moreover, most of the marketers surveyed said they prefer to work with a handful of influencers to get their message out.
Use the right tools to select influencers
With better brand/influencer relationships, influencers can create more authentic messages that brands and consumers alike can trust. High-quality influencers could help alleviate some of the tension between marketers and influencers. Perhaps more important is that brands build confidence by developing relationships with influencers over time.
4. Collect Data for Greater Responsibility
Brands are happy enough to invest in influencer marketing, but when measuring effectiveness the impact of influencer marketing is a lack of trust. One of the biggest challenges in that area is having access to the right tools. In fact, 42% of survey respondents have yet to find the right tool to measure the effectiveness of their influencer campaigns. Hence, what marketers need are the right tools for gathering the right data. Therefore, they need to use that data to enhance and inform influencer strategy.
That points to a future that favors brands and marketers that invest in better technology solutions. Indeed, the report concludes that technology is the key to improving confidence and allaying fears.
With better tools for reporting and measurement, for content control, and for increased transparency overall, the influencer marketing space will continue to grow and flourish.