Social media influencer marketing has matured from a novel concept into a proven method of promoting businesses of all sizes. Ninety percent of marketers say they have seen success with influencer marketing. In addition, influencer marketing efforts may provide a return on investment of $18 for every $1 invested.
This is intriguing information, particularly for companies who want to rethink their approach to marketing in light of the explosive growth of social media.
Even if companies are familiar with the concept of influencer marketing, they often do not have the plan to integrate it into their existing operations. Because of this, influencer marketing platforms will continue to grow in 2020.
Influencer Marketing Platforms Have Entered a New Era
Using an influencer marketing platform eliminates the time and effort required to locate the RIGHT influencers. How? A reliable and experienced influencer marketing platform will provide access to the desired and necessary network of influencers.
Customers have lost faith in brand recommendations; therefore, “need” is the key word here. This is why many people look to influential people to help them discover the best new products and services available online. When connecting brands with their target audiences, consumers trust influencers.
Learn how Nike uses influencer marketing to build a connection between its products and its customers in the examples provided below.
Additionally, companies don’t want to squander resources learning about influencer marketing, influencer strategy, and methods for making influencer campaigns successful. If you need help, some professionals can provide it.
Where do you see influencer marketing tools going from here? Platforms specifically geared at influencer marketing. Influencer marketing platforms have become more data-driven as pricing models, and influencer databases have developed.
If you’ve ever utilized an influencer marketing platform before, you know that sometimes drawing the dots between locating influencers and launching effective campaigns may be challenging. This is because data was not incorporated into all procedures.
Having accurate information is crucial to achieving your goals. Let’s analyze how data changes how influencer marketing platforms help companies and influencers succeed.
The Importance of Data for Influencer Marketing Platforms
Influencer marketing platforms must improve to compete as more firms try them out in search of higher returns on investment. The media with the most efficient data-driven procedures and outputs would inevitably have a larger market share.
Also, a sizable amount of market income may be yours. From 2019 through 2025, the worldwide market for influencer marketing platforms is expected to grow at a compound annual rate (CAGR) of more than 26 percent.
The driving force behind this expansion will be influencers, prices, and analytics databases.
When looking for a simplified approach to influencer marketing, brands and marketing agencies will collaborate with platforms with data and analytics. For example, Scalefluence is an influencer marketing platform that provides data-driven procedures that businesses and advertising agencies can depend on.
Create Content With Data From Your Influencer Platform
To have a successful influencer marketing strategy, content is essential. You may apply this rule to any social media platform. Priority should be given to items that may affect a large audience.
But what should that material be, and how should it be presented? This is a significant challenge for many companies. Finding the proper influencer to connect your content with the intended audience might be difficult.
The good news is that data-driven content production may streamline the procedure while generating significant outcomes. Influencer marketing platforms may use algorithmic data to determine the optimal content and format for a specific audience. The platform may pair the strategy with an appropriate influencer with this information.
Take the case of @taralondon, a micro-influencer in the fitness and wellness niche on Instagram, and the bottle manufacturer S’well.
S’well, a bottle manufacturer, collaborated with her to target her dedicated fitness fan base and eco-conscious audience. Although the influencer and campaign appear to be an unusual fit for this content genre at first glance, the opposite is true.
Data can help you zero in on the most effective content and influencers for your needs—original, uncomplicated, and appealing.
The content’s format is also essential. There has been a steady increase in the number of people who choose to watch video material online. Furthermore, video content is ideal for companies and influencers trying to improve engagement dramatically.
Video content is the best to create for travel influencers, no matter how big or little they are. To get the most out of your influencer marketing campaign for a travel-related business, you should use video content, and your influencer should know how to make an engaging film for your brand.
Here’s an example of the kind of video material produced by popular YouTuber and avid traveler Dan Flying Solo.
In the video’s description, you can see that this travel influencer collaborated with Lonely Planet to provide a link to some sponsored material.
Systematically Collected Information on Influencer
There is a wide variety of “influencers.” Finding the most appropriate influencer for your product or service is no easy task. However, without prior experience or knowledge of an influencer marketing platform, this might be a challenging task.
Why? Numerous “influencers” online are fakes. Recognizing a false influencer is a difficult task. These phony opinion leaders are experts at keeping the truth under wraps. Thankfully, influencer marketing companies have figured out how to verify the credibility of influencers.
When an influencer has been evaluated and deemed to be of high quality, they are added to the platform’s influencer database. There may be thousands of influencers in a database, but how can marketers choose the best one? Data!
Data-driven analytics will pair your business with the ideal influencer based on various criteria, including the specifics of your influencer campaign and the influencer’s previous work with your industry.
This search considers several measures, such as the number of followers, average engagement rate, engagement rate per post, content generation method, audience demographics, primary target audience, secondary target audience, and more.
Quantitative Analysis of Pricing for Influencer Marketing
Furthermore, this is a crucial component of influencer marketing. It might be challenging to determine an appropriate payment or incentive for an influencer. This is particularly true for new companies and marketing firms joining the influencer marketing field.
In the top search engine results for the query “how much do influencers make?” you’ll discover this.
No of how popular your product is, they are very serious sums of money. Think of the $100,000 you’d spend on a sponsored article if you didn’t know any better, only to get a pitiful return on your investment. That’s terrible!
You may avoid overpaying influencers by teaming up with a platform that employs data-driven influencer marketing pricing. You may be sure that your investment in influencer marketing will provide the best possible results.
This is an additional perk for influencers who work with influencer marketing platforms: they are always compensated fairly for the value they provide to the forum in terms of engagement and engagement with their audience. This is a win-win situation for both companies and influencers.
You Need Scalefluence, The Only Data-Driven Influencer Marketing Platform Available
Regarding influencer marketing, it’s crucial to have professionals on your side. Scalefluence is a leading influencer marketing platform because of the success it brings to its clients’ brands, agencies, and influencers via the use of data.
Brands can locate the ideal influencer, develop a winning creative campaign, and see the kind of return on investment (ROI) that makes influencer marketing worthwhile with the help of a comprehensive database of influencers. We have the social media personalities your business requires, whether you’re looking to promote on YouTube or Instagram. Join now to have access to a more extensive social network.