By Mariya Jamal
Over the last few years, the influencer marketing industry in India is seeing a boom, recording a valuation of over Rs 1,200 crore in 2022. It is further projected to grow at a CAGR of 25 per cent over the period of the next five years to touch Rs 2,800 crore by 2026. With the onset of brands viewing the advertising industry from an imaginary lens, and welcoming new creative ideas that are hyped by influencers, there is a rapid hike in the number of influencers every year.
Influencer marketing, in a short span, has become one of the most sought-after marketing strategies for brands. It is not a surprise that it has proven to be a successful tool in generating and converting sales. As this industry continues to expand, brands are actively emphasising the credibility and authenticity of influencers.
According to recent stats, around 67 per cent of brands are concerned about frauds associated with influencer collaborations while 30 per cent of marketers find it challenging to measure the ROI of campaigns run by them.
Amidst these concerns, marketers are leveraging the potential of AI and data analytics to drive the results of their campaigns.
Identifying Right Influencers
Social media is a vast platform and finding the right influencers is like looking for a needle in a haystack. AI tools allow marketers to identify relevant profiles based on specific audience demographics, engagement rates, the authenticity of followers, etc. The entire process is automated that drives efficiency for the marketer and helps brands with the right decision making.
Additionally, marketers supplemented with AI tools identify fake followers, engagement rates as well as growth patterns of the profile. Apart from this, it also helps detect suspicious activities that may aid the brand in making the right decision.
Data-Backed Performance Analysis
AI enables marketers to have a clearer look at an influencer’s profile. Along with readily available stats, these tools help marketers to weed out irrelevant profiles at the planning stage which ensures early optimisation of the campaign. Furthermore, AI tools help marketers analyze a tentative campaign outcome by tracking key metrics like reach, engagement, conversions, and review competitors and along with identifying the ideal budget to boost the campaign.
AI and data analytics have the power to analyse the performance metrics of an influencer marketing campaign, they also provide recommendations to optimise content for the future. The goal of content optimisation is to make sure that the content highlights the USP and generates curiosity within the target audience. It should be aligned with social media algorithms to ensure its discoverability.
AI and data-driven insights are crucial as they help marketers to know the most suitable posting times, content formats and even suggestions to enhance the hashtags. With such insight, brands can take their content for influencer marketing to the next level.
The deployment of AI and data analytical tools has led to major improvements in influencer marketing campaigns. From identifying the right influencers to streamlining marketing tasks and driving campaign ROI, AI-powered tools provide results that are crucial for the campaign’s success. As AI is entering deeper into the influencer marketing space, its intuitiveness is understanding the dynamics of work by reducing friction and aligning the right set of influencers with the core brand messaging.
(The author is the Head Of Marketing [New Business & Music] at Dot Media)
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