How Influencer Marketing Drives ROI
Influencer marketing has emerged as a game-changer for businesses seeking to boost their brand visibility, engage with their target audience, and ultimately drive higher returns on investment (ROI). CreatorIQ is an industry-leading creator marketing software and Foodie Tribe partner. Recently, their team conducted a survey of 132 different agencies, brands, and organizations directly engaged in influencer marketing. The results of the study showcase exactly why it is essential for industry professionals to utilize influencer marketing in their goals, objectives, and KPIs.
How popular is Influencer Marketing?
Of the 132 marketers surveyed in the report published by CreatorIQ, 67% of respondents reported an increase in their investment in influencer marketing from 2022 to 2023. Foodie Tribe has worked to expand and highlight the benefits of a robust digital marketing portfolio to all of our clients. For example, one of our long-term clients, Del Monte®, has nearly doubled its influencer marketing approach from eight total campaigns in all of 2022 to seven campaigns as of June 2023, with multiple planned over the next six months. Influencer marketing has become one of the most cost-effective marketing avenues for brands to drive sales. Of the 67% of brands who increased their influencer marketing budget, 76% diverted funds from other marketing approaches (email, SEO, social media, etc).
Does Influencer Marketing Drive Sales?
Yes! 94% of organizations surveyed in this CreatorIQ study, claimed that they could at least partially attribute sales to creator content shared on social media platforms. These sales are tracked through conversion rates, link clicks, and marketing-mix modeling. However, the metrics that marketers are using to define success in an influencer marketing campaign, are not always the same as the metrics used to track direct sales. Foodie Tribe has noticed that brands often have a variety of different goals when looking to activate with social media content creators. These goals can range from direct sales to driving brand awareness or visibility and everything in between. CreatorIQ found that Engagements and Impressions metrics makeup 62% of the main KPIs tracked in influencer marketing campaigns.
Influencer marketing can be more effective than other traditional marketing avenues for a multitude of reasons. When CreatorIQ asked this question in their survey they found that organizations preferred influencer marketing for these four main reasons:
48% - Influencers are more Authentic and Relatable
15% - It’s Easier for Creators to reach consumers
15% - Influencer Content is Entertaining
21% - Influencer Content is Aspirational and Instructive
It is extremely important for any marketer to ensure they have a diverse digital marketing portfolio in order to reach campaign goals. If the main goal for your next marketing campaign is ROI, then influencer marketing is the answer! Visit foodietribe.com to work with us on influencer marketing or join our tribe!