The word ‘Influencer marketing’ has taken the digital world by storm, and it’s really growing among brands, especially D2C brands. There is no doubting the success of influencer marketing. The market climbed from $1.7 billion in 2016 to $9.7 billion in 2020. It rose to $13.8 billion in 2021, showing a significant rise. This year, the market is expected to rise to a colossal $16.4 billion sector.
But so many of them still don’t know how to jump on the boat of influencer marketing. If you’re one among them, you undoubtedly have some inquiries. The most serious question is: Which platform or website should you focus on?
Let’s understand.
What is influencer marketing?
Emerged as a result of businesses realizing that socialization and customer referrals over other types of marketing outweigh all different marketing kinds. People have gravitated to social networks in recent years and are loud about their opinions on businesses and products because it is pretty fashionable.
Given the knowledge that whispers spread by media figures significantly impact consumers, here is where brands may use their power. To reach more consumers, several brands discover the best influencers in their respective sectors and establish connections with them.
What are the influencer marketing platforms?
One-of-a-kind platform that allows brands to garner comprehensive knowledge of qualitative & quantitative indicators. It finds the micro-influencers, brand ambassadors, and influencers who have the potential to provide significant exposure for the businesses.
The brand collaborates with 50,000+ social media influencers, artists, and content creators to execute influencer marketing campaigns, covering all the social media platforms like YouTube, Instagram, Twitter, Facebook, Snapchat, etc.
With a large influencer base of more than 15000 creators across all social networks, Confluencr is the top influencer marketing company in India. Confluencr assists companies in using influencer marketing to drive massive development with smart tactics, rigorous influencer curation, and streamlined analysis and reporting.
OPA serves as a controlled marketplace for brands and influencers. 80k+ registered influencers work with 200+ companies through OPA. Well-known companies including Nykaa, Sugar, HUL, Vero Moda, WOW, Plum, and Decathlon leverage OPA.
One of India’s largest influencer marketing platforms is Plixxo, which has over 26,000 influencers on its roster. It was founded by POPxo creator Priyanka Gill, and is for both companies and influencers. The site allows bloggers, YouTubers, celebrities, and Instagram influencers to sign up and enjoy PPC marketing.
This Indian influencer marketing company empowers companies and influencers to work together to share their experiences. They have helped domestic and foreign businesses, including Western Union, Zara, Amazon, Cure Fit, Hotstar, Mother Dairy, Faasos, and many more, boost their profits.
A brand called Winkl, located in Bengaluru and specializes in influencer marketing. It has helped bloggers, influencers, and creators produce unique media kits so they can exhibit their work to their friends, get comments, and engage with companies to pursue brand collaborations.
Brands unravel the influencers that can grow their business with this social media tracking software. For more than 10,000 forward-thinking businesses, they have monitored customer feedback and mentions.
For its client companies, this global influencer marketing company mainly looks into, adjusts, manages, and evaluates Instagram WOM (word of mouth) marketing programmes.
The platform allows brands to leverage the power of word-of-mouth to engage their respective customers. Many well-known multinational brands, like Coca-Cola, Bacardi, BMW, Airtel, Audi, Amazon, Chevrolet, and many more, had confidence in and benefited from their marketing campaign methods.
For the future wave of companies that understand that originality is important in the creator economy, GRIN is the innovator who created the first Creator Management platform in history. Grin searches the social media accounts of all the individuals listed on its e-commerce sites and draws them in.
Handles 70,000 bloggers, Youtubers, Tiktok Video makers, and social media influencers. Influencer has assisted 200+ well-known domestic and foreign companies, like Jaguar, Axis Bank, Nykaa, Tata Cliq, Flipkart, Swiggy, etc., in elevating their play.
How to track ROI in influencer marketing?
92% of consumers are more likely to trust influencers than any other traditional ads. So, investing in influencer marketing is an optimal choice. However, tracking ROI can become a major challenge. You don’t always get direct sales conversion from influencer marketing, so you may have to explore alternative methods to gauge your ROI.
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Use trackable links
A robust tracking system is crucial when dealing with influencers. To track traffic, interaction, and conversions on your website, urge influencers to employ trackable links.
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Construct a personalized landing page
To calculate the ROI from an influencer campaign, link it to a landing page with your brand. If the influencers direct their audience in your desired direction, they can exercise whatever degree of autonomy you provide them. As soon as customers arrive on the landing page, you as the brand can entice them and collect their information to garner lead data for baselines and later interactions.
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Performance channels x Influencer activities
Influencers’ activities should provide value to performance channels like SEO by driving traffic and quality links to important portions of your website. Plan ahead of time specific keyword goals for which you hope to gain exposure as a factor in the relationship.
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Know your metrics
Measuring your influencer marketing campaign goals can provide valuable insight into brand awareness, loyalty, audience activity, and ROI. Measuring engagement metrics like views, clicks, likes, shares, and mentions will reduce CPE or cost per engagement.
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Keep an eye on social engagement
Social engagement is one of the simplest KPIs to evaluate when working with an influencer. Your social media account can gain or lose followers, so keep a check on it. Look at your website traffic to see if there is an uptick or drop in social network visits. See any surges that match the influencer’s action? See any rise in sales?
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Look at the bigger picture
Harmoniously collaborate with influencers, so you both profit from the aggregate social media engagement. Include press strategies in the advertising to boost op-ed coverage. To calculate earned media value (EMV), combine indicators like interaction, website traffic, campaign hashtags, and URLs.
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Leverage influencers to attract niche target groups
The actual worth of influencer marketing depends on its capacity to convey relevant messages to certain demographics. Very specific messaging for each of those groups, together with a crystal-clear role for the brand in their life, can go a bit overboard (which is great).
Time to begin tracking the results of your influencer marketing?
Influencer marketing is a ‘thrifty’ or cost-efficient marketing channel, particularly for products with a strong aesthetic appeal and a younger target demographic. 71% of companies use influencer marketing to skyrocket sales and track them back to their influencer efforts.
Tracking your influencer campaign is crucial for knowing how effectively it is working. Analyzing your campaign’s inputs, outputs, and results is essential to determining its success. The results need you to keep a record of the influence of the influencer’s actions, whereas the input and output depend on you keeping tabs on your activity and its effects.
Goals, metrics, strategies, platforms, everything is ready for your influencer marketing journey to GET, SET, GO!