Marketing leaders believe that the global spending on influencer marketing industry will cross the $5 billion mark by the end of 2020
Influencer marketing has transcended from being a mere buzzword to a much sought-after marketing tactic. Major brands have shown interest in the influencer pool. Marketing leaders point out that the organizations have moved on from merely contemplating about including influence marketers in the marketing campaigns to questions like how, where, how many, and what kind of influencers to use. Influencer marketing varies depending on the type of marketer (macro vs nano vs micro-influencers).
Influencer marketing has the advantages of authentic content, better engagement, and higher traffic which will highly benefit organizations. CMOs acknowledge that identifying influencers that are perfect for the brand, its reputation, and the products and services is a major hurdle. Trustworthy influencers will boost sales and customer base. Quantitative metrics are no longer the standard benchmark when selecting the proper benchmarks. This was due to the sudden increase in fake social media stars.
Organizations now tend to select their influencers based on content quality, brand affinity, and how efficiently the individual can propagate the brand message. This has been influenced by AI. Natural Language Processing (NLP), Machine Language (ML), and AI have had a significant effect on the methods adopted by organizations to implement influencer marketing. A combination of qualitative and quantitative metrics in an effective way boosts influencer marketing strategies. AI has provided solutions for multiple requirements of organizations like content analysis and brand affinity.
Marketing leaders say that AI enables organizations to create more effective campaigns, streamline solution-generation, analyze of data, planning, and analysis of methods, etc. This saves a considerable amount of time for the marketers, which they can utilize to boost results and efficacies of the marketing policies.
AI-fueled influencer platforms will have the advantage of tools that can match the right influencers with brands in an uninfluenced and impartial manner. Since finding influencers manually is a time-intensive process, deploying an AI platform for the same will produce accurate and faster results. Marketing leaders can now use a higher volume of sample data, trends identifier, and influencer options when deciding with the help of AI tech.
CMOs believe that the biggest advantage would be the ability of AI to differentiate between real-life and computer-generated influencers by enabling a footprint analysis of its followers. AI will make it useful to measure the performance of an influencer for the organization. The marketing department can easily collate data from the social media platforms and marketing campaigns to analyze the influencer’s efficiency for a particular service or product or even the organization.
AI-powered tech like the Artificial Neural Networks (ANN) can be implemented to analyze the historical data to predict the efficiency of an influencer and calculate the level of incentives required to ensure the success of a campaign. AI tech will also ensure that the organization puts out only relevant content for the audience’s perusal, and every marketer knows that the right content delivery to the right audience is the smartest trick in the trade. Besides, the ROI of a campaign can easily be calculated by using an AI platform. This influencer better decision making during budget marking, revenue forecast, etc.