In 2022, the influencer market will be worth $16.4 billion, up 20 times compared to 2015. 9 out of 10 companies consider influencer marketing effective. To maintain its strong growth, it must rely on innovative technologies such as big data.
Technology and data, drivers of influence
Measuring brand and competitor vote share, analyzing influencer profiles, accurate audience targeting, real-time monitoring of campaign performance, trend detection, etc. See the importance of data for brands. More than ever, data is a key to achieving their impact strategy goals. The Reech Influence Cloud platform provides the essential data for sound campaign management.
Big data is key to enabling good partnerships
Data makes it easier to select influencers. Advertisers and agencies are primarily engaged (88%) with micro-influencers, with less than 100,000 followers. 35% of them are becoming nano influencers, with less than 10,000 followers. Their messages are seen as authentic because their audience consists of their close entourage or peers.
Content reach, engagement and trust (quality of content on brand image, etc.), using the data in their campaigns, brands can assess the impact that each type of influencer can deliver. This allows them to choose the most promising forms of cooperation.
Data, an enabler for evaluating influencer campaigns
Controversial metrics such as Earned Media Value (EMV) do not reliably measure campaign effectiveness. New solutions provide real-time monitoring of their performance. They are used by brands to accurately assess the return on investment (ROI) for their influencer operations.
Reach, impressions, post views, engagement rate, conversions… Key Performance Indicators (KPIs) need to be defined according to campaign goals. For example, if the goal is to generate leads, the brand can track metrics such as:
- conversion rate
- cost per acquisition (CPA);
- The number of transfers.
Influencer marketing gains in maturity and complexity over time. Brands have no choice but to adapt, if they want to ensure the success of their influence strategy. Project design, influencer selection, KPI analysis… Data should be the central element of any impact campaign. Data enables brands to make informed choices while maximizing the return on investment for their operations.