Influencer Marketing is Driving ROI for Brands
Influencer marketing has become one of the most effective ways for brands to become household names and can greatly drive sales and ROI, according to Brian Mechem, President and Co-Founder of GRIN, a leading Creator Management Platform in a Forbes article.
Citing Statistica, Mechem wrote that 60% of marketers agree that influencer marketing has a higher ROI than traditional advertising. Mechem then recommended that businesses employ carefully selected influencers or content creators throughout the sales funnel — from content generation and brand awareness to bottom-of-the-funnel sales efforts — to stay in sync with shifts in media and content consumption in a mobile-first society.
He added that time spent on mobile increased by an average of 31 minutes per adult in 2020 and is continuing to increase, further driving influencer marketing and giving rise to creator management.
Creators are “brand storytellers,” with whom brands must manage relationships to connect and engage with end users in an authentic way. Mechem suggested that brands examine an influencer’s posts, audience, comments, and overall values to find a good match.
In an April 2022 survey of over 12,000 consumers, he said that 58% said they were influenced to buy something from a creator in the past six months, but were not influenced by content they don’t like or that seems inauthentic.
Getting To ROI
Influencer marketing has the potential to grow ROI measurements such as web traffic, social media traffic, and e-commerce sales. For social media, creator management can boost follower count and positive engagement. For e-commerce, influencer marketing drives conversions and average order value, as well as reduces intervals between purchases and returns.
Content creators also provide better content at a lower cost compared with traditional studio-created photography or video. Influencers act fast, tracking dynamic networks like TikTok, where styles and tastes change every day.