There can be little or no doubt that influencer marketing can be a game-changer. On the social media everyone has the potential to become an influencer in his or her own way. It is an undeniable fact that consumers trust their friends, family and acquaintances far more than they trust banners, TV ads, billboards, press ads etc. Consumers are more likely to make a purchase because of a recommendation from a good source than a TV/ press ad.
It is necessary to understand how influencer marketing is reshaping the way consumers behave. Businesses sell their products and create brand ambassadors opting for some known celebrities to recommend their brand. A film star or a sporting legend can easily influence the purchasing decisions of their followers.
Influencer marketing requires leadership transparency in order to be successful. Of course, the fact remains that the current tools claiming to measure social “influence” are inexact and underdeveloped.
Today, there is a situation where brands have to work through talent or PR agencies to find and engage influencers. There are tools out there that claim to help you identify the right influencers by reporting their social media footprint. But most of them are underdeveloped when it comes to identifying the right people who truly influence the decisions your target audience makes.
It is believed that social scoring platforms have categorized who is influential; however, their algorithms have become increasingly questionable. The market is open to new formulas that take into account the relationship between the brand, the influencer, and the consumer.
Professionals suggest that creating open channels of exchange between brands and influencers is an excellent thing – as long as it’s done ethically. There are platforms that measure influencers’ performance and allow brands to work with and manage influencers.
Influencer marketing is one of the booming industries and there’s overwhelming demand from business houses. There are however huge challenges for brands looking to embrace influencer marketing: creating a large-scale campaign and measuring the results.
Trying to harness the power of influence looks easy and practical until you actually try it. Many brands have been playing in the influence game.
In fact, there are so many impediments in the communication channels among influencers, decision makers, and the brand that tracking and reporting results is cumbersome. Measuring performance and results is more important – and tougher – than measuring popularity of the influencer.