With over a third of marketers unable to calculate if their influencer activity is driving sales, brands need to clear up this murky sector of digital marketing in order to achieve real return on investment.
Influencer marketing suffers not just from the problems of fake followers and viewability, but from a lack of credibility, as I proved when I paid influencers to make a picture of my posterior go viral.
Beauty marketers look to ramp up budgets for influencer marketing despite measuring return on investment being one of the biggest challenges.
Day 8 is cutting the use of large-scale influencers as it looks to harness its own holiday-makers and build a community that will appeal to the younger generation.
General Mills is putting influencer marketing at the heart of its new organic business but it has strict criteria about when to invest revolving around the three Ts and three Rs.
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here
Influencer marketing is growing rapidly, but to become a respected channel there are challenges to overcome.
It may be easier to shape the conversation virtual influencers have about your brand, but given their creators are often anonymous and would have no qualms starting again with a new personality the risks don’t necessarily outweigh the rewards.
Working with celebrities comes with risks and rewards, but self-made social media influencers offer an affordable route to fame for canny marketers.
Marketers have singled out measuring ROI as one of the biggest challenges they have with influencer marketing, but there are ways it can be done.
Influencers can be a fickle bunch, willing to take money and promote the goods of the highest bidder, which in time will erode consumer trust and love for your brand.
The high street saw more failures and microtargeting came in for close scrutiny, while pressure grew on agencies, influencers and makers of sugary foods.
While some brands do admit to flouting the rules, others are opting to work with micro-influencers in order to build trust and increase credibility.
While they can be difficult to spot, there are certain steps all brands using influencer marketing should be taking to help to detect fake followers.
ISBA has updated its influencer marketing contracts to bring better “commercial discipline” to the relationship between brands and influencers after finding that while marketers plan to up spend in this area, most still don’t feel confident working with influencers.
The ASA and CAP’s new influencer marketing guide is a step in the right direction but more clarity is still needed to boost credibility.
Brands must work collaboratively with platforms and partners to rid the digital ecosystem of fraudulent activity and rebuild trust.
Consumers are becoming increasingly aware of branded content, but they are not adverse to influencer partnerships, so long as they are clearly identified.
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here