Influencer marketing is no longer a buzzword on social media but a marketing strategy that has achieved successful results for big and small companies. It is also that marketing strategy that promises a high ROI. However, as brands look forward to using the same method, it cannot be applied unless a lot of promised data backs it.
As more companies integrate influencer marketing into their overall marketing strategy, they should know how this works. The after-effects of a failed influencer marketing strategy are severe and prolonged. Therefore, it is better to be careful from the beginning.
The engagement rate and follower count will not be enough when selecting the right influencer. Companies should prefer the influencer’s authenticity with the niche and relevancy in the audience. None of these criteria can be fully understood without the help of additional data.
Furthermore, the content creator’s position and voice in their ecosystem will help brands understand them intimately. Data concerning the audience demographic, content style, interests and beliefs, sentiment, authority, and expertise will provide better insights. Since companies must maintain a record of processing activities (RoPA), the stored data can be a helpful tool in influencer marketing.
How is data a vital component of influencer marketing?
Traditional influencer marketing methods can be tedious as no external tools and resources are available. Data availability has made it easier to make decisions and set benchmarks. It is no more about hard work but intelligent work.
Data can help find influencers easily and provide factual background information to fast-track the selection process. Agencies and clients don’t have to waste time figuring out those influencers that can help them meet their business objectives. Finally, both sides can expect a long-term collaboration if things work out in their favor.
Data can guide the conversations between companies and influencers. In addition, you can find more data relating to:
- Performance on different social media platforms regarding various products
- Types of influencers suited for the brand: micro, mega, or celebrity
- The stories that different audience groups resonate with
- Preferred brands of influencers
- Timings during the day that ensure maximum response on posts
How can you implement your influencer marketing strategy?
The following are five ways in which you can carry out your influencer marketing strategies:
1. Finding a brand ambassador
A brand ambassador is a long-term investment and commitment. Therefore, brands have to be careful in choosing their brand ambassador. The benefit to both parties is that the ambassador gets a stable income and focus for a considerable period, and companies get good content and engagement.
2. Publishing influencer content
A company can collaborate with an influencer to give extra coverage to its products. This is a cost-effective method of advertising. Companies can explore and attract potential customers and new audiences through their products.
3. Leveraging affiliate marketing
Affiliate influencer partnerships help in carrying out marketing with guaranteed results. The guiding factor here is that the influencers are paid only when they reach the set number of customers. It is an excellent way of getting work done without wasting money or resources.
4. Sponsored content
Social media channels carry out a lot of sponsored content. This includes a clear influencer interaction with the product. The campaign always consists of a call to action and can help attract more consumers.
Another method of influencer marketing is getting them to market a free sample and set up contests where people can win the same products. This method works brilliantly for brand awareness and ensures higher organic interactions in the digital space.
Why should you have a data-driven influencer marketing strategy?
A data-driven strategy is the only thing that will help companies keep up with the development of the influencer marketing industry. To get the maximum value out of the money and efforts invested, here are some reasons why you need a data-driven approach:
1. Identify influencers with the correct target audience data
Brands make the mistake of selecting influencers based on personal likes and votes. But it is essential to make sure that the influencers you choose have a connection with a significant sect of the audience. Otherwise, no matter how much effort you put into marketing, it will never bring the desired fruit of your labor.
Data acts as a catalyst in activating influencer marketing. The information will help you find influencer profiles to reach the target audience. Additionally, the data can provide exterior details on the profile’s sincerity and influence on the selected group. Finally, it will also help stay away from “influencers” who tweak their numbers on social media and are fake.
2. Optimize outcomes with the help of “lookalike audiences”
Influencer marketing acts as an advertising tool the same way Google ads do. Like keeping a tab on those advertisements performing well on social media, you can activate those influencer profiles that will deliver promising results. Say your goal is to drive more sales, then choose an influencer who has mastered the art of convincing the audience.
Many tools use artificial intelligence and data to develop lookalike audiences. With the aid of these audiences, you can match real-time profiles with the profiles that have done well in the past. The more data you have, the more opportunities to optimize results.
3. Get insight into the number of viewers you have
Numbers can be deceiving, especially when it comes to the follower count. If an influencer has 10,000 followers, that doesn’t necessarily mean that all 10,000 of them view and engage with their post. On the other hand, an influencer with a follower count may have a better viewership rate.
Advanced tools and data can help you identify influencers with the highest number of viewers, irrespective of followers. Additionally, you also get a deeper understanding of genuine influencers committed to their target audience. Data can help you make the best out of all influencer marketing efforts.
4. Evaluate influencer activation and overall investment
To be successful in influencer marketing, you need to follow up and measure the results for which data can benefit. Therefore, setting up the correct measurements and controlling KPIs is vital from the very beginning. Without a goal or direction, your brand will just be wandering around.
Therefore, it is essential to step back at regular intervals and evaluate the return on investment. You must be able to analyze data and verify if it is reaching your target group and generating organic traffic. These evaluations will allow you to adjust strategies if positive results aren’t seen quickly.
5. Determine the success of a marketing campaign
Another reason that makes influencer marketing data all the more important is that it helps determine the success of your campaigns. The limitation to this data can be found in celebrity marketing. However, data generally help brands focus on the set goals.
With a well-laid influencer marketing plan, one can get access to a truckload of data. In addition, each campaign adds specific stats to its data collection. You can check for the impression, tweets, reports, likes, and more on each post. With statistics guiding your campaign, it becomes easy to predict the marketing campaign’s success.
As influencer marketing climbs the ladder of preferred marketing campaign methods, data aids in finding the best opportunities and influencers for the same. In addition, companies can use the data to stay on top of their game regarding customer trends and preferences. There are several ways of running successful campaigns, and data-driven influencer marketing lands on top of the list.
By B Naomi Grace