When it comes to word of mouth, brands have been quick to focus on online engagement via social media and to then assume offline conversations are the same – but research shows brand conversations across different channels have almost no relationship to one another.
For a comprehensive view, brands need to measure the full conversation both on and offline, its volume, sentiment, who it is shared with and how influential the speaker is, says Matt Dodd, MD/Analytics, Kantar.
Writing for WARC, he explains that “not only do people tend to discuss different types of brands [across different channels], but their sentiment for the same brand may differ vastly between online and offline channels.”
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Influencer marketing return on investment – the holy grail for brands wanting to justify increasing spend – is yet to achieve clear definition within this still relatively new sector of digital marketing.
Influencer Intelligence’s latest report, Influencer Marketing 2020, reveals 84% of marketers feel proving the ROI of influencer marketing is a challenge. As investment continues to rise, it’s inevitable that stakeholder demand for budget justification will increase in kind.
This is completely understandable but like with any conversation on return, to understand the real value of a campaign, a tailored approach needs to be taken. Not only on a brand-by-brand basis, but also specific to each campaign, to truly measure the impact and assess longevity.
It is these necessities that mean traditional advertising metrics and values, which are often applied to attribute worth to influencer marketing, are not fit for purpose. Applying this type of data ultimately involves trying to make a new and versatile marketing technique fit into an outdated and rigidly formulaic metric. This, coupled with the fact that rates themselves are unreliable, means brands using advertising values are failing to measure the true effect of their campaigns.
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