In 2022 the Influencer Marketing industry was valued at 16.4 billion and 89% of marketers are reported to maintain or increase their investment in the industry this year. 

When the industry first emerged, influencers were recognized for their effectiveness when it comes to building brand awareness. But influencers now play a key role in engaging audiences and driving conversions. 

As brands become more conscious of spending, driving sales and gaining ROI is becoming an essential KPI for Influencer Marketing campaigns. But how can you improve your return?

Audience Data 👨👩👧👧

Firstly, selecting the right creators to partner with is integral to success. This can be done by using a variety of data tools and proprietary data that help you make informed decisions. Working with an agency unlocks historical data on creator success in various verticals too. 

You should also use expert insights and information to implement the best creative strategy and social platform to drive sales. 

Test and Scale 📲

Test different influencer verticals and genres to drive success from unexpected places. Analyse historic content and results to understand what drives conversions. Establish a CPA or ROI that will be the benchmark to hit and improve on for following activations.

Build on the success by affinity profiling and re-investing in creators, verticals and content that prove valuable, alongside developing long-term partnerships and optimising Influencer guidelines.

Having a deeper understanding of your audience and their behaviors will allow you to create relatable content that drives conversions. Allocate a small percentage of your marketing budget to test new trends and platforms too. 

Make the most of every dollar 💸

Brands at the forefront of Influencer Marketing are making the most of every dollar spent by purchasing usage rights for sponsored content, to run as paid ads. Gain usage rights to authentic influencer content to improve results.

Influencer ads are proven to be 50% more memorable and 40% more likely to increase ad performance compared to standard brand activations. These ads can either re-target audiences who are familiar with the influencer or access a wider audience - unfamiliar with the influencer or brand. Paid ads can be highly targeted to specific locations, demographics, or interests. You can also choose a variety of influencers that appeal to a broad and diverse range of target customers.

You should aim to implement a blended approach, including both organic and paid content in your strategy. 

Focus on CRO 📈

You can launch a well executed Influencer Marketing campaign, but if the customer lands on your website, you need to ensure there is no barrier for conversion. Conduct conversion optimization on your user journeys targeted towards traffic from your Influencer Marketing campaign. This can alter your website experience to guarantee results. Additionally, custom microsites for influencers give landing pages a more personalized feel to increase influencer-brand alignment and conversion rates.

Take a full-funnel approach to measuring success ⏳

To measure the true success of your Influencer Marketing campaigns, a full-funnel approach is key. This means using a combination of platforms and goals for each stage - Awareness, Consideration, Conversion and Advocacy.  

By crafting a measurement framework that is tailored to your KPIs and considers full-funnel results, your campaigns will guarantee success!

At Digital Voices, we specialize in full-funnel performance and can help your brand improve your ROI. 

Get in touch to find out more.