Why Data is The Best Friend For Any Influencer

As it’s said that data is the new oil for this generation. When we integrate it with marketing, especially influencer marketing; things become even better. Yes, data is the best friend for any influencer and for brands that are into influencer marketing!

The data-driven approach in influencer marketing was always there and is going to stay here forever. From celebrities promoting beauty brands to now nano influencers promoting small scale products, data is driving the marketing industry and innovations.

With the right tools and information, measuring the performance of the influencer campaigns with ongoing brand collaborations would become easy and fruitful. With the help of data, influencer discovery, contracting, running campaigns, building relationships with brands, managing campaigns and reporting would become better.

How to leverage data in influencer marketing

So, here are some of the key benefits, that suggests how data is beneficial for any influencer and influencer marketing campaign running brands!

Understanding the market

For any brand and influencer, understanding the market needs and market interest is one of the most important things. If you can understand and study the market, you would know which campaigns should be made live to gain the most out of it.

But, only vague discussions or random thoughts would not help one to recognize, understand and lead the market. We need data for that. To understand public interest, your historical campaign data, things that work well, current trends and ROI estimations, data is the key to go.

Defining smart goals to initiate campaigns

There are tonnes of goals a brand can select before jumping into influencer marketing campaigns. Starting from normal reach campaigns to sales-oriented campaigns, brands and influencers have to make sure that they make smart goals.

Smart goals would help them evaluate things like ROI calculations and future campaign plannings, which would highly depend on the data that is collected. When you have the historical data available at your disposal, as an influencer, you would be able to judge the campaign performance and ROIs even before the campaign goes live in the market.

Selecting the influencers and platforms

For every brand, product and influencers; different platforms would work. The audience is using various platforms to consume different types of content. Content in forms of long or short videos, images, micro/long blogs, journalism conclusions and many more. So, the brands have to select platforms that serve the purpose of the user as well as deliver their brand message at the same time.

With platform’s data, brands and influencers would be able to identify the right audience, content trends, demographics and many more important things. Thus, data would help in growing platform-specific audiences.

Performance measurement

Any campaign or even simple post from an influencer is targeted towards growing something new and to deliver something to their audience. When historical data and ongoing campaign data comes to help, reporting and future goals would become more fruitful.

For brands, there are two types of ROIs to measure. 1. Tangible ROI and 2. Intangible ROI. If the campaign is all about selling stuff, tangible ROI would be measured; whereas using the parameters like impressions, engagement rates, etc, intangible ROI is measured.

There is a new concept floating in the market as well, VOI (value of the investment). Where specifically in influencer marketing; impressions, engagement rates, brand awareness are measured vs the money invested by brands, VOI would help in campaign performance measurement.

So, these were some key benefits where data would help brands and influencers build their presence better. Thus, data would help build smart influencer marketing campaigns with achievable goals and gain better ROIs and VOIs.