Influencer marketing keeps conquering the marketing budgets of brands of all sizes. It has proven to be an efficient tool to grow brand awareness, attract new audiences, and increase consumer trust.
Two-thirds of marketers in the US planned to turn to influencer marketing and increase their budgets for such campaigns.Insider Intelligence
The influencer marketing industry reached $16.4 billion in 2022, up from $1.7 billion in 2016.Influencer Marketing Hub
Unoptimized processes on the side of both marketers and influencers can diminish the efficiency of influencer marketing, though. Automating processes can be a huge step towards increasing the efficiency of influencer marketing for any company. Here are five benefits of automating your influencer marketing:
Benefit 1: Time Savings
Influencer marketing campaigns can be time-consuming to plan and execute, especially when working with multiple influencers. Automating the process can save marketers time by streamlining influencer outreach, contract negotiation, and content approval tasks. Today there are a lot of automated platforms for influencer marketing that let marketers save time on those assignments.
Usually, platforms of this kind are built as an ecosystem where marketers and business owners can keep all the data, including performance numbers, agreements, and contacts related to their influencer marketing campaigns. After all, it can be highly inconvenient and confusing to constantly switch between various tools when preparing a campaign.
Imagine that you need to research influencers on social media for a new campaign, then switch to emailing each of the selected influencers, and later use some project management service to put it all together and share it with your team. It’s easier and faster to have a shared workspace for influencers and marketing teams, where they can communicate and track everything related to their collaborations.
Benefit 2: Improved Efficiency
Automation can help improve influencer marketing campaigns’ efficiency by providing a centralized platform for managing all aspects of the campaign. This can include tracking engagement, measuring ROI, and analyzing results.
This benefit is closely connected with time savings because marketers can achieve more in a shorter amount of time. Besides, within such automated influencer marketing platforms, there are usually various built-in analytics tools that also work towards improving the efficiency of campaigns for a brand.
All in all, automating helps reach out to more influencers and figure out the best ones for your brand, better planning and communicating, spending less effort on mundane tasks, and avoiding mistakes that human factors, such as lack of sleep and tiredness, may cause.
Benefit 3: Increased Transparency
Usually, marketing is a data-driven sport, meaning that a marketing team makes decisions based on metrics and, in some cases, should be able to justify those decisions to senior management. It’s important for everybody involved to keep their fingers on the pulse and be able to foresee the outcomes.
Influencer marketing, though, is usually seen as a bit of a gamble. You may get lucky or burn your budget without any worthy results. However, just like many other business-related matters, influencer marketing can be a transparent market with clear pricing policies and foreseeable outcomes predicted by using big data.
Automated platforms can provide greater transparency into the influencer selection process, pricing among influencers, and campaign results before starting a campaign. By analyzing data, marketers can see what outcomes an influencer can deliver, which influencers their competitors collaborate with, etc. It helps make the most efficient decisions.
Benefit 4: Better Targeting
Every marketer strives to improve the performance of their campaigns by studying various marketing metrics. Today data-driven decisions are simply a norm. However, gathering all the data when working directly with influencers and without data analytics tools may not be easy.
Automated platforms are tailored to be data hubs for marketers. They can use data and analytics to help them to identify the most effective influencers for their campaigns. This can include audience demographics, engagement rates, and past performance.
These platforms also provide marketers with the data to assess completed campaigns and prepare reports for other departments and senior management. Again, it helps to increase the speed of work and its efficiency.
Benefit 5: Cost Savings
By automating certain aspects of influencer marketing, such as contract negotiation and content approval, marketers can reduce the costs associated with managing campaigns manually. This can help to make influencer marketing more accessible to smaller businesses with limited budgets.
Moreover, since automated platforms allow analyzing data, they help businesses to avoid losing money on erroneous choices of influencers. Paying for a campaign that doesn’t perform can be a highly disappointing experience, especially for small companies.
Automating influencer marketing brings many practical benefits, like cutting costs and increased efficiency. It doesn’t end there, though. Being a creative field, marketing benefits from automating because it allows marketers to stop wasting time on mundane, repetitive tasks and focus on key aspects of creating impressive and impactful campaigns instead.
Hypetrain combines big data analytics and AI algorithms to automate mundane tasks, empowering marketers to focus on creativity and build stronger influencer relationships. With over 3000 paid users within months and without promotion or investments, Hypetrain’s success is remarkable. What sets it apart is the intelligent algorithms that collect data on millions of bloggers who meet specific criteria.