LOS ANGELES--(Antara/BUSINESS WIRE)--Aug. March 2023 --
According to an analysis by RAD AI, a platform that offers creative intelligence solutions focused on ROI, influencer marketing has eight common problems that sabotage campaign results. Jeremy Barnett, founder and CEO of RAD AI, attributes the problem to a lack of data-driven standards;
This press release contains multimedia. View the full press release here: https://www.businesswire.com/news/home/20230322005269/en/
(Photo: BusinessWire)
"While other paid advertising methods rely on decisions guided by rigorous big data analysis methods, influencer marketing is still based on intuitive guesswork," says Barnett. "This is the root of a systemic problem that manifests itself as multiple symptoms, all stemming from the same cause. We've seen the same pattern over and over in many industries."
According to Barnett, the eight most common problems that influencer marketers face are:
- Lack of standardization. The influencer marketing industry does not have universally accepted KPIs to measure campaign success. There is also a lack of standard methods for interpreting the KPIs used.
- Short term vs long term effects. Many influencer marketing campaigns focus on short-term metrics such as engagement, but the long-term impact of a campaign on brand awareness, loyalty and sales may not be as clear or easy to measure.
- Differences between platforms. Influencer marketing campaigns can use multiple social media platforms, each with its own unique features and algorithms. Such differences make it difficult to find patterns between campaigns on different platforms.
- Yield allocation. It is difficult to correctly attribute the desired results to an influencer marketing campaign. It is often difficult to determine whether sales or conversions have been directly affected by a campaign or will continue to occur.
- content quality. Judging the quality and effectiveness of content produced by influencers is subjective and subject to interpretation. For example, content may look impressive to a brand's marketing team, but that doesn't mean it makes the desired impression on the target audience.
- Privacy Limitations on Data Collection. Strict privacy regulations such as the California Consumer Privacy Act (CCPA) or the EU General Data Protection Regulation (GDPR) can limit marketers' access to data point reviews.
- the authenticity of his followers. Influencers can have fake followers, likes and comments, increasing their reach. In some cases this is intentional, while in others the influencers themselves may not be aware that their followers are being manipulated.
- not transparent in practice. Some influencers or agencies may not be transparent about their methods, costs or partnerships. For example, agencies may highlight irrelevant KPIs to show misleading statistics, or they may have undisclosed affiliate relationships with influencers designed to drive traffic regardless of their clients' ROI.
Says Barnet, "The answers to these questions are the standard, data-driven approach to influencer marketing." he continued. "We recommend that brands demand more from their marketing partners and develop performance targets using campaign metrics that are measurable and easy to understand." Barnett concludes, “The new standard of excellence is long overdue, and RAD AI's mission remains unchanged: to help marketers achieve the ability to harness the power of AI to create impactful, authentic and ROI-driven campaigns. "
About RAD AI
RAD AI (Remove All Doubt) is an artificial intelligence that automates creative decisions based on ROI and content strategy at scale. The company uses its proprietary AI through 600+ API connections to provide unbiased creative intelligence that informs campaign concepts, content production and influencer selection. This means better ROI across the marketing mix, hundreds of hours saved on content creation, and measurable reduced content costs. Based in Los Angeles, California, the company was founded in 2018. For more information about RAD Intelligence, visit https://www.radintel.ai.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230322005269/en/
Jeremy Barnett, jeremy@radintel.ai
VentureBeat's mission is to be a digital marketplace for technical decision makers to gain insight into enterprise technology transformation and transactional execution. Find our briefing.
