Identifying Suitable Partnerships for Influencers and Brands: A Guide for Agencies
Impact.com and URL Genius recently published the findings of the Commerce Creator Lightning Survey, offering valuable insights for brands and agencies seeking to partner with social media influencers during this holiday season. Simon Bedding, an enterprise account executive at Impact.com, shared the survey's key takeaways with our website.
One notable outcome from the survey indicates a potential area of friction between brands and creators. While over half of the surveyed brands emphasize creative control, almost 35% of creators prefer unrestricted creative freedom. Although these positions are both legitimate, the discrepancy signifies the need for both parties to find a suitable match and carefully establish the terms of engagement before starting any work. Success in partnership marketing requires collaboration, mutual trust, and the right platform to build a solid foundation.
The research highlighted measurement and analysis as important aspects for all stakeholders. Brands and marketers predominantly focus on sales numbers, user engagement, and metrics to assess campaign success. However, creators voiced concerns over the process of measuring their work, expressing concern that it might be impossible for them to control.
Additionally, creators expressed challenges related to maintaining a balance between content creation and personal life. The rise of creator partnerships has turned many hobbies into promising careers. It's crucial to understand how this professionalization impacts creators and influences their lives, given that authenticity and human connections are essential to the evolution of the partnership economy.
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An impressive 92% of brand respondents reported their satisfaction with influencer marketing. This suggests that the benefits of working with creators are numerous. Partnering with influencers provides a fresh, technology-driven approach to advertising, which delivers results in the current advertising landscape characterized by declining customer faith and escalating costs. The creator economy is projected to reach a whopping $480 billion by 2027, a statistic brands and advertisers cannot ignore.
Trust between brands and their audiences is crucial in partnership marketing, and this trust is reflected in the following: Creators, through their authentic relationships with their audiences, help establish credibility for the brands they work with, empowering these brands to authentically reach their consumers.
To tackle the challenges associated with measuring campaign effectiveness, technology solutions are increasingly becoming more sophisticated. Partnership marketing is among the most measurable forms of digital advertising, thanks to accessible tools and data-driven insights. Engagement and reach metrics, like web traffic and generated sales, are typically a focus for brands, while agencies concentrate on consideration metrics that show content has driven potential customers to seek additional information.
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According to the survey, more than half of creators started sharing holiday-themed content before October. The focus of the content depends on the creator and partner brand, but during this season, brands should maintain a focus on Return on Ad Spend (ROAS), Click-through rate (CTR), and Return on Investment (ROI). The holiday season offers a remarkable opportunity for micro-influencers, as they tend not to charge high fees and open the door to a diverse consumer base.
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When collaborating with influencers during the holiday season, brands should take advantage of the significant consumer spending expected during this period. Forecasts suggest that online sales in the UK will reach a staggering £25.9 billion, marking a 6.1% increase from last year.
Brands can make the most of this opportunity by utilizing well-established tactics like offering deals or creating a sense of community through influencer events or contests. Additionally, incorporating a festive atmosphere and emphasizing authenticity and trust when working with influencers can help brands resonate with their audience during this unique season.
- Brands and advertisers must address the discrepancy between their emphasis on creative control and creators' preference for unrestricted freedom when collaborating, in order to achieve success in partnership marketing.
- The importance of measurement and analysis was highlighted in the survey, with brands focusing on sales numbers, user engagement, and metrics, while creators expressed concern about the process of measuring their work.
- Technology solutions are increasingly becoming more sophisticated to tackle the challenges associated with measuring campaign effectiveness in the fast-growing creator economy, which is projected to reach $480 billion by 2027.
