How to Implement a Data-Driven Approach to Influencer Relationship Mapping & Development
How to Implement a Data-Driven Approach to Influencer Relationship Mapping & DevelopmentToday, consumers increasingly trust and are influenced by those they choose to interact with online: 78% of consumers rely on social media to make product decisions and gauge brand authority (source: PWC, Total Retail Survey, 2016). With marketers increasingly investing in Influencer Marketing & Relations as an always-on strategy to capture consumers’ attention, influencer share of voice has also emerged as a critical indicator of market share and competitive advantage.
As influencers themselves become more commoditized – influencer marketplaces often put more emphasis on auctioning off influencers with the lowest CPEs to the highest bidder, rather than determining whether or not that influencer is an authentic brand fit – what motivates an influencer to post on behalf of one brand vs. another will become a defining indicator of brand authority.
This means that in order to establish a renewable source of influencer talent and a position of brand authority, establishing and developing authentic influencer relationships must be a priority. As with any marketing initiative, you also need to be able to justify the time and budget spent to establish and maintain these relationships – which, for most CMOs, will require a comprehensive data strategy. But where to begin? Below, we share our top tips for developing and implementing a data-driven approach to influencer relationship mapping and development.