Influencer marketing is working its way into the toolboxes of major corporations, and I’m not just talking about Democratic presidential candidate Mike Bloomberg’s meme squad. Household brands including McDonald’s, Walmart, and Anheuser-Busch have turned to Linqia to test the practice.
Although the average share of budgets spent on influencer marketing is just 10%, that figure is growing as visual platforms like Instagram, Snapchat, and Pinterest see explosive growth.
The problem? Brands are often focusing on misleading vanity metrics in an attempt to justify those investments. For example, many marketers track follower counts as a primary indicator for determining brand and influencer partnerships. Growing evidence shows that follower counts do not equate to true impressions or reach data, giving brands a false sense of how their campaigns are performing.
As some of the most visual social channels, Instagram, Snapchat, and Pinterest have become important tools for brand marketers. These are also the channels most likely to be used by so-called “influencers,” the social media stars who frequently partner with brands to promote products to their online followers. Influencer marketing has become a big business, with 31% of retailers now working with brand advocates to become influencers and 28% using paid celebrity influencers to spread the word about their products and services.
Here are six popular influencer marketing platforms being used by retailers and brands right now.
Many brands have decided to establish dedicated budgets for their influencer marketing campaigns. In fact, 79% of brands surveyed by marketing tech firm Relatable indicated they will have a dedicated budget for influencer marketing campaigns in 2019. Brands are catching onto the power of this medium.
Looking to get in on the action? There are four game-changing trends in influencer marketing that will help you boost the ROI of your influencer marketing campaign in 2019.
Robert Glazer: This year’s Affiliate Summit West conference took place earlier this month in Las Vegas. And just like every year, performance marketing experts gathered to see some of the potential challenges and opportunities the space is likely to see in 2019. This year’s conference gave them plenty to chew on. There were five topics, in particular, that I found to be most important. Here’s a closer look at them.
Since its launch, Causal IQ has worked quickly to reimagine the role that programmatic solutions providers play in today’s environment. That involves using data and relying heavily on “everyday influencers”—like parents, colleagues, and friends—to authentically reach consumers in target markets.
“Our secret sauce is our ability to connect brands with consumers on a local level, via authentic local influencers,” says Macaroni Kid co-founder Eric Cohen. “Other media outlets can plug into an algorithm to target an audience. We have local moms telling other local moms the scoop as they hand out samples.”
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A recent report aggregating RhythmOne campaign data showed that advertisers who used influencer marketing campaigns in 2017 saw $12.30 in earned media value for every dollar spent.