Influencer marketing has become the buzzword these days and an essential component of the marketing mix across the world.
However, as influencer marketing gathers pace, marketers are coming to terms with some of the most pressing challenges.
One of them is that 76% of marketers are still struggling to determine the ROI of influencer marketing and cite it as the number one challenge for 2018.
This is according to the findings of “The State of Influencer Marketing Survey 2018” by Linqia that takes a look into how brands and agencies are using influencer marketing and how they plan to leverage the channel in 2018.
As the industry matures, marketers need to take a serious look at their measurement methodologies and hold their influencer marketing programs to the same measurement standards as their other media investments, the survey findings note.
On a similar note, the survey finds that influencer marketing has traditionally been viewed as a PR/communications tactic and is widely used as a reach and awareness tool.
However, as the industry matures, there has been a clear shift in ownership. The survey found that 38% of influencer marketing owners are on advertising/media teams, whereas only 15% are with PR/communications, a notable decrease from 31% last year.
“Media teams are taking ownership of influencer marketing as targeting capabilities evolve and budgets continue to increase, and are managing programs with the same rigor that they use to manage other digital advertising channels,” the survey notes.
Managing Influencer Marketing
Influencer marketing programs can be time-consuming to manage, and marketers must make room for it in an already bustling schedule.
As a result, the amount of time it takes to manage influencer marketing programs is ranked as one of the top challenges of 2018, the findings add.
Working with influencers
92% of marketers cite Instagram as the most important social network for influencer marketing in 2018, followed by Facebook (77%).
At 71%, blogs are a close third, up from 48% in 2016. However, the blog’s rise in importance comes at the expense of Snapchat, which was named the least important social network for influencer marketing in 2018 by 50% of the marketers surveyed.
As influencer marketing matures, marketers are starting to use the channel strategically to impact lower funnel metrics like clicks, conversions, and product sales.
They are also integrating influencer marketing with other digital channels and leveraging influencer content beyond the initial program to improve the performance of their paid, owned, and earned media, the survey notes.