Influencer marketing has grown from a start-up to a $3 billion industry in the United States by 2021. Practitioners are eager to demonstrate the value of their efforts because of the large investment and safe spot in the marketing toolkit.
Investing more in marketing needs stronger evidence of success. A direct sales conversion is obviously the holy grail of return on investment (ROI). However, this form of attribution is not achievable for many programs.
The instant sale may not even be the primary objective of many influencer initiatives. In the absence of backup measures like involvement, reach, cost per thousand, or earned media value, there is a lot of grey space for marketers.
Rather than relying solely on traditional metrics, marketers are now relying on more comprehensive and goal-aligned indicators, such as brand lift studies.
What’s the Difference Between Influencer Marketing and Social Media Marketing?
Influencer marketing and social media marketing are not the same things. If you’re looking to grow your brand’s income and reputation, neither technique should be handled lightly.
It’s common for customers to see social media marketing as an outgrowth of your brand’s voice on social media platforms.
On the other side, influencer marketing is a strategy that uses the “social capital” of people your target audience believes to increase brand exposure and loyalty.
Kylie Jenner, who has 148 million Instagram followers, is a great illustration of the marketing potential of an influencer. Within the first 24 hours, her posts frequently receive 8 or 9 million likes.
After working as an ambassador for Puma and Adidas, Jenner launched her own cosmetics company, Kylie Cosmetics, which is valued at $900 million. Jenner epitomizes the role of an influential person.
To put it another way, what exactly is a brand lift?
Specifically, a brand lift study measures how a campaign affects the brand’s perception, feelings, and intent to connect with the brand. These studies produce lift metrics, which demonstrate the impact on certain targets, as a result of their findings.
An influencer-driven campaign for Kraft was the subject of a recent brand lift study that we performed. Among non-users, there was a 40-point increase in brand favourability and a 15-point increase in buy intent.
As a result of the social media platforms, these studies have become typical in major digital advertising initiatives. Custom brand lift studies, on the other hand, have become an increasingly significant assessment tool for influencers who want to gain a deeper understanding of their influencer marketing campaigns.
Brand lift studies are still relatively new on the organic side of influencer marketing. Consider the following before commissioning a study like this:
1. Everything Is Defined By The Audience
The best brand lift study is done by presenting the same online survey to two groups: a control group and an exposed group, both of whom get the same results. The lift metrics are calculated by comparing the survey responses of these categories.
Individuals that have been subjected to the campaign in either a natural or a simulated environment make up the exposed group. Control subjects are identical in both their racial and ethnic makeup as well as their personality traits to the exposed subjects.
There should be at least 200 survey participants, with 100 from the exposed group and the other group being surveyed. When it comes to the audience, there are two things to keep in mind. Firstly, do not fall into the trap of just surveying the group that has been exposed.
When a survey shows that 75% of individuals who viewed an influencer’s post were receptive to their brand, many marketers would just look at the group that saw the post. That’s great, but what if 70% of individuals who didn’t see the message were just as positive?
Even though 70% is a large amount, the campaign had no effect on the outcome. Brand lift can’t be measured without a comparison audience or control group. Secondly, persons in the exposed group should, to the extent feasible, be fans of the influencer in question.
Keeping this in mind implies that the link between the influencer and the respondent remains intact. Because of this, the research takes into account not just the impact of the creative, but also the importance of relationships in influencer marketing.
Marketers should make use of the opportunities that social media platforms like Facebook, Instagram, and YouTube provide to gain feedback from their fans.
2. Ask the Question You Want to be Answered
There are a few questions that are usually asked in brand lift studies supplied by social platforms like Instagram and YouTube, especially in the area of enhanced or amplified programs, and these questions generally take up space that should be taken up by other inquiries.
One of the great things about brand lift surveys is that they don’t have to follow the “big three” awareness, voter support, and purchase intent in order to be effective. Many of the companies we work with are household names.
In these cases, a generic query on brand knowledge is usually a waste of time. If the brand is so well-known, how much of an impact can the campaign have?
Pay attention to the things that are important to you. Standard questions should never be used as a fallback. Inquire about the things that are important to you.
3. Having Your Facts With A Side Of Strategy Is An Option
At the end of a marketing campaign, it’s common for researchers to conduct a brand lift study, which results in a neatly compiled scorecard that summarises the program’s results.
Influencer marketing, on the other hand, may make use of the brand lift to help choose a strategy and fine-tune efforts. As more and more platforms and influencers become available to marketers, this advice is extremely useful.
Every time we meet with an influential leader, we ask, “How can I get the most out of my investment? “. Is Instagram the best place to conduct their business? Using a famous influencer or a big group of small-but-mighty brand supporters to spread the word?
It is possible to obtain data-driven answers to these queries by simply requesting more from your brand lift study. Measuring a program’s overall impact is the standard operating procedure.
By channel (say Snapchat vs. TikTok) or performance by ambassador or content piece, it’s feasible to see how each performs compared to others.
Brands have benefited from their assistance in pruning failing influencer partners, recalibrating their priorities, and concentrating solely on the channels that make perfect sense for them.
Influencers’ Ascendance is a Direct Outcome of Changing Social Media Ecosystems
In the social media marketing world, influencers like Kendall Jenner, who are well-known for their social media clout, play an important role in product placement and endorsements.
Regardless of the business, influencers utilize their platform to spread the word about the products and services they represent. Payout or compensation in the form of products or services can be a common part of influencer marketing. Influencer marketing is expected to become a $10 billion to $40 billion industry by 2022, according to current projections.
Changes in Digital Marketing via Social Media
Is social media and influencer marketing different? Most significantly, it allows the consumer’s voice to be heard by allowing comments, queries, and views to be seen to others rather than being one-way.
When marketing and PR teams neglect the opinions of customers, they are putting themselves at risk of losing out on business opportunities that may otherwise be gained.
Trends In Influencer Marketing To Keep An Eye On For 2022
Here are five trends to keep an eye on, ranging from increasing openness about diversity on platforms like Instagram and TikTok.
1. Marketplaces that cater to the needs of independent artists and designers.
A simple option to collaborate between companies and artists was created when TikTok launched its Creator Marketplace.
After then, there was no escaping Instagram.
According to Instagram, it is offering a new set of tools to enable companies and artists to “connect and interact on Instagram through brand collaborations, commerce, and more,” recognizing the demand for more tools for creators.
Brands and influencers will be able to connect more efficiently as both platforms roll out new features and capabilities in respective creator markets. That’s fantastic news, to say the least!
We expect the influencer marketing industry to undergo a transformation as a result of the explosive expansion of the platforms themselves.
A single app might potentially reduce the need for agencies by making it easier to find and collaborate with each other. This is definitely a trend in influencer marketing to keep an eye on in the meanwhile.
2. Micro and Nano-Influencers on the Rise
With the help of Nano and Micro-influencers, a company can get into highly specific groups, making its product recommendations feel like they’re coming from a trusted confidant.
Nano and Micro-influencers, on the other hand, have up to 100,000 followers on social media, despite their smaller followings. It is expected that Nano and Micro-influencers to continue to flourish in the coming years due to their high levels of engagement and active online networks.
3. New Forms of Video Content Co-Production
TikTok and Instagram Reels have made vertical video the must-have format for influencer marketing in the last several years. As a result, in 2022, video content will be the dominant medium.
4. Influencers Who Now Run Their Own Companies
The rise of the full-fledged entrepreneur has been one of the most noticeable trends in the influencer marketing sector.
Our focus is on those who have turned their influence into full-time companies, rather than those who are only part-time influencers.
What will this imply for brands?
It allows for a wide range of collaborations. Consider a giveaway or partnership with the influencer’s and brand’s accounts if you have an upcoming campaign. When it makes sense, you can both benefit from using their new business.
5. Perfection Is Not Authenticity
Social media authenticity has become a significant influencer marketing trend, as well as one of the most successful strategies to develop a digital community.
The flawlessly manicured feed look is being eschewed by creators in favor of less filtered and more in-the-moment images. Ads and sponsored content that doesn’t appear like advertisements should be created by influencers.
Meaning: don’t stress about finding “ideal” Instagram accounts to follow.
Because these people are able to connect with their audience and provide true content, you should focus on them instead.
Final Words
More than 9 in 10 marketers polled indicated that influencer marketing is an efficient way to sell your product or service. Since the dawn of time, brands have understood that users are more willing to believe other people they trust.
The modern-day counterpart of the classic TV-celebrity endorsement is influencer marketing. The development of social media influencers has transformed the way that marketers use influencers endorsements.
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