How is technology streamlining the TAT in the influencer marketing industry?
By Ritesh Ujjwal
With consumers glutted with never-ending advertisements in the age of digitalization, influencer marketing cuts through the clutter by employing influential social media giants to promote a business. Shunning the “one size fits all” marketing approach, influencer marketing has facilitated easy and creative interaction between brands and influencers. As a result, influencer marketing has evolved into an indispensable vertical of brand marketing strategies, regardless of industry. According to Statista, the influencer marketing industry has seen extensive acceptance across industries, with the personal care vertical leading the way with a 25% market share in 2022. Other significant industries, such as food, fashion, jewelry, and mobile/electronics, have also welcomed influencers to improve brand messages and engage with their target consumers.
What has further accelerated the rise of influencer marketing is the emergence of technological advancements, providing organizations with novel opportunities to stay ahead in an increasingly competitive environment. Reshaping the industry, automated solutions in influencer marketing have allowed the brands to reach their target audience quickly and effectively and forge meaningful connections, reducing the turnaround time. Unleashing a new era of engagement, authenticity, and brand success, technological disruptions in influencer marketing have provided brands with exclusive opportunities to devise their marketing strategies in a way that will guarantee sure-fire success.
Role of technology: Streamlining the turnaround time
Automated workflow management tools: From devising a campaign strategy, managing campaign logistics to tracking and reporting progress, the entire process is time-consuming and demands constructive effort. However, owing to automated workflow management tools, marketers can now easily optimize influencer marketing processes. These automated solutions aid in streamlining the workflow and content management when creating and implementing a campaign, allowing marketers to monitor the real-time success of their campaign. By defining workflows, content creators and brands can identify roadblocks and initiate prompt action. In addition, when running multiple campaigns, automated management tools come in handy for measuring and monitoring the campaign performance in real-time, resulting in improved impressions, engagement, conversions, and ROI.
Influencer management systems: The days of evaluating an influencer’s potential purely on their subscriber base are long gone. Finding an influencer that matches the offerings of your brand and has a suitable audience demographics in line with your target audience is unquestionably important today. Going beyond the traditional time-consuming processes, influencer management systems perform numerous integrations to identify an ideal match. Utilizing a huge database of influencers, these systems construct creator profiles based on a variety of factors, including location, genre, and content relevance, ensuring appropriate performance play. The development of creator persona goes hand in hand with the generation of the brand persona, and the two are then compared to determine the best fit. By offering data-driven solutions, influencer management tools allow businesses to target a large audience base and acquire a favorable response from the audience.
AI integrations: AI-powered campaign solutions assist businesses in moving beyond vanity metrics and analyzing the impact of campaigns and influencer performance by directly tying real-time data like brand mentions, traffic, and conversions to an influencer’s specific activity. A study from Influencer Marketing Hub claims that 61.4% of marketers have allegedly included AI in their marketing campaigns. These technologies also provide end-to-end campaign lifecycle management, allowing brands to plan, execute, and track their campaigns from beginning to end. By gathering all the data points in one place and drawing intelligent conclusions, AI makes it much easier for marketers to assess the performance of their efforts and conduct predictive analysis in real-time.
Reduced operational costs: There is no doubt that operating an influencer marketing campaign manually can be a time-consuming and a costly endeavor. Furthermore, because manual operations make it harder to detect any false acts in real-time, this can raise the likelihood of influencer fraud, resulting in revenue loss. Thus, in order for brands to stay clear of such phony influencers and better streamline the entire campaign, technology-focused solutions play a critical role. Recognizing potential influencers and assessing brand and influencer synergy, these tech-focused solutions help marketers more effectively optimize their processes with the goal of improving engagement and increasing return on investment.
Tech-focused solutions: Battling influencer marketing concerns
With consumers becoming increasingly digitally sophisticated, it has become critical for brands to develop marketing tactics that cater to the interests of these new-age consumers. Influencer marketing, the novel platform of innovation and creativity has provided marketers with a one-of-a-kind way to reach out to their target audience while leaving a lasting impression.
The emergence of technology-driven tools has further advanced the influencer marketing business, allowing marketers to diversify their influencer marketing efforts. Transcending beyond the barriers of traditional marketing, brands can now unlock higher levels of engagement, forge meaningful relationships with their audiences, and elevate their businesses to new heights of success, thanks to tech-powered solutions.
(The author is Ritesh Ujjwal, CEO & Co-Founder, Kofluence, and the views expressed in this article are his own)
