The Marriage of Human Connection and Data in Influencer Marketing
Influencer marketing thrives on personal connections. Influencers write engaging social media posts, aiming to excite and inspire their followers to interact with a brand and integrate it into their lives.
However, data and technology are becoming the essential glue that strengthens these human connections. Real-time data reflecting current market trends, social media engagement, and even current events is invaluable for influencer marketers.
Data: From Static to Strategic
Data has evolved far beyond static reports. Today, it provides real-time analytics that empower influencer marketers. This empowers them to analyze trends, predict future developments, and gain a competitive edge.
Data-Driven Use Cases Throughout Campaigns
From inception to execution, data empowers brands and influencer marketers. Continuously updated data helps them select the most impactful influencers for their strategies.
Platforms like Klear analyze influencer profiles, including follower counts and engagement rates. This helps brands understand reach, target audience engagement levels, and resource allocation for optimal ROI.
Building Trust and Amplifying Campaigns
“Influencer marketing is an ongoing strategy,” says influencer marketing consultant Camille Kennedy. Consumers regularly use social media, making consistency key. Building brand familiarity and trust with influencers requires working with them regularly. Data empowers this process, but it can also be used to optimize campaigns mid-stream based on performance metrics like reach and engagement.
Measuring Success: ROI and Beyond
Campaign success can be measured by comparing costs to conversions (ROI and return on ad spend). Engagement rates showcase influencer performance compared to others and inform future strategies. Low engagement might indicate discontinuing a partnership.
“Social listening analytics across channels help quantify earned media generated through influencer partnerships,” says Neil Brennan, VP Sales at Klear. This allows for more strategic decisions regarding future marketing investments.
Klear’s dashboards can even blend influencer marketing data with paid performance data, allowing CMOs to compare costs-per-click and conversions across channels. This transparency empowers them to make informed decisions about resource allocation.
Data Informs C-Suite Decisions
In a climate of tight budgets, real-time data can guide C-suite executives toward the benefits of influencer marketing.
“Historically, the C-suite has focused on traditional marketing metrics,” says Brennan. “This can make justifying influencer marketing spend challenging for legacy brands.”
Data comparisons made possible by technology can bridge this gap. CMOs can now showcase successful campaigns with data-backed evidence, replacing subjective guesswork with demonstrable value.
Teri Simone’s Case Study: Measuring Impact
Teri Simone, a marketing and design head who champions female DIY-ers in her influencer marketing strategy, emphasizes the importance of measurement: “Tracking ROI necessitates measuring impact across campaigns. While likes and follows are exciting, data on reach, resonance, and link clicks is crucial.”
Simone utilizes UTM parameters and discount codes within influencer posts to track sales funnels and incentivize purchases. UTM codes attached to influencer links provide a clear picture of user acquisition through social media channels.
Beyond Basic Metrics: Valuable Data Points
Other valuable data points include personalized backlinks for tracking website click-through rates and monitoring comments, likes, shares, and other social interactions to gauge campaign effectiveness in terms of brand awareness.
The Future of Influencer Marketing: Data-Driven Decisions
According to “The State of Influencer Marketing 2023,” three-quarters of brands and marketing agencies track sales from influencer campaigns. Email addresses (31%) and referral links (30%) are the most common methods. This shift toward email tracking signifies a growing focus on measurable results.
Kennedy predicts an increase in influencer marketing data accessibility. While this will be helpful for navigating the growing pool of influencers, it may also place pressure on CMOs to make informed selections.
“Advanced insights, particularly regarding ROI, will make brands more strategic with their influencer budgets,” says Kennedy. “They’ll expect higher performance and only work with creators who drive results.”
Focus on Technology Partners, Not In-House Solutions
Brennan recommends that brands leverage technology partners with access to the most relevant, insightful, and real-time data, rather than building in-house platforms.
“Utilizing existing software simplifies data access for managers and CMOs,” concludes Brennan. “Outsourcing removes pain points and provides tangible value, surpassing the limitations of in-house solutions.”
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