Last week, we kicked off the first of what will be many Scrunch events! It's an exciting time for us, and we are so keen to share as much information with you all on influencer marketing, best practices and how data can play a huge role in your campaigns. Our first event in Brisbane saw Scrunch CEO and Co-Founder Danielle Lewis chat all things data-driven influencer marketing with a room full of Brisbane PR and marketing professionals, startup founders and small business owners. It was a great night filled with inspiration and information, so I wanted to share some of the insights on the blog too.
Here are 10 key insights from our Brisbane #scrunchevent:
- Who is an influencer? An influencer is someone who inspires action. They are our customers, our friends and family, celebrities, experts or bloggers.
- The number of online searches for "influencer marketing" is growing 5000% a month according to Google Trends data.
- Data-driven influencer marketing is the art of using data to discover audiences and create campaigns leveraging influencers.
- There is real ROI with influencer marketing, with best in class brands reporting ROI of up to 20:1.
- There is minimal barriers and minimal cost to enter the influencer marketing space, and there is a lower CPC rate than banner ads.
- To find the right influencer for you campaign, look to merge an influencer's audience with your brand's ideal audience. If they are a match, they are your target.
- When it comes to data that is currently being used for influencer marketing, most marketers are using content category and aesthetic, influencer reach and price, however, there are many more metrics that you should be using for better influencer marketing campaigns. These metrics include: data from an audience analysis to determine what and who your audience cares about, affinity to a topic, engagement on content and engagement to a topic, just to name a few.
- When reporting on your influencer marketing campaign, understand the one metric that matters most to you business. Is it leads, sales, downloads, website traffic, social media followers or brand awareness?
- To understand whether you have moved the needle as a result of your influencer campaign, ensure you capture a snapshot of the volume of people talking about your brand both before and after the campaign.
- A sentiment analysis and share of voice analysis is a good way to determine whether you have changed the digital conversation about your brand, product or industry.