Talking about influencer marketing and Instagram seems to be exactly the same. Brands have found in this social network an incalculable number of brand ambassadors who, without necessarily being famous by traditional media, possess a unique level of influence that has proven to benefit the leading interests of many brands.
The importance that influencer marketing strategies have in the plans of the brands, is demonstrated in the amount of resources that are dedicated to these efforts.
The influencer marketing numbers
A study signed by Instascreener, which indicates that spending on these strategies grew by 83 percent between 2018 and 2019. Only on Instagram, North American brands allocated $ 314 million to this discipline.
This trend makes sense if we consider that 70 percent of purchasing decisions among consumers are guided by the recommendations of people they consider their peers, according to a recent study by Collective Bias.
That’s why, according to an eMarketer report, 71 percent of professionals believe that influencer marketing can help create more brand awareness. Additionally, 67 percent of marketers believe it helps them reach more specific audiences.
While this is nothing new, the fact is that as more players are on the field of competition, the way of evaluating executing and adapting these efforts needs to be changed.
New goals, new metrics
This makes more sense when we consider the role that these types of actions had during the health emergency and will continue in the post-coronavirus era.
Influencers will position themselves as true allies of brands in a context in which budgets will be reduced, the conversation will go digital and connecting deeply with the consumer would be crucial to maintain relevance.
The context for brands now will not only demand reaching a large number of consumers, but the objective greenness will be to connect with those who actually deliver value to the business plans of the companies.
Better focused efforts will be the constant in the new normal, brands will seek to do more with less and this will require a complete restructuring.
For example, large brands such as Coca-Cola, Mondelez or Pepsi seem to be reducing their offer to focus on their key products, in order to optimize their production chains.
At least this is the point of a recent analysis signed by CNN, which argues that the measure responds to the need to make supply chains more efficient.
The measure will not only reduce the supply that can be seen in a supermarket, nor will it only impact the efficiency of the production lines.
Audiences will be exposed to marketing and advertising strategies focused on few brands.
For companies this adds, at least for now, to the win-win equation. It is not a secret that advertising and marketing budgets have been reduced, and with fewer brands to sell it is much easier to maximize results.
The most important metric
The influencer marketing will be no stranger to this trend, with which brands are beginning to evaluate new metrics regarding this type of effort.
From Business Insider they indicate that now brands seek to measure the following aspects in their efforts to influence marketing within Instagram:
Feed posts that are saved
Honest feedback (quality of feedback)
Instagram Story Views
Return of investment
Among all these indicators, one that stands out from the aforementioned publication stands out as the key metric that now reigns on Instagram.
We are talking about the publications saved by users, which are called « super likes » and allow us to evaluate a crucial element that is especially sought after by brands now: engagement.
With this indicator, brands can have a much broader parameter of engagement that the Instagram influencer is capable of generating, which could be a valid parameter to measure the possible benefit for their strategy.
Having clarity on this point would allow brands to close a gap that already existed before the pandemic but which, given the new market realities, will make special sense in the face of the need to gain relevance in the long term.
And it is that as a recent study delivered by Marketo concludes, which indicates that 56 percent of consumers are frustrated with the response that brands and companies give to their customers’ engagement, even though 82 percent of companies affirm have a high margin of understanding for your target audience.
SUBSCRIBE TO PREMIUM CONTENT FOR ONLY $ 299