How can influencer marketing platforms evolve themselves to be future-ready? Share via

In 2018, the global influencer marketing platform market was valued at $137 million, which is expected to reach $200 million in 2022 and further grow to surpass $370 million by 2027, said a report by the market and consumer database company, Statista. The influencer marketing platform aids brands and organizations to discover influencers, manage influencer relationships, facilitate payments, analyze campaigns, and track the success of the influencer marketing campaign. As influencer marketing is gaining more traction with every passing day and more influencer marketing platforms are coming to the fore, we look at some of the trends that will shape the future of these facilitators.

Data-driven content planning

Influencer marketing is all about great content, and the success of any campaign depends on how the audiences receive those content. But what kind of content is in trend and what platforms are doing well are factors that need to be carefully considered. Unfortunately, brands often face hurdles in determining these aspects, and this is where influencer marketing platforms can come into play using their algorithmic data and pairing that with their AI-powered tools to find out the right content and format type based on the audience profile. These platforms can also enable brands to make data-backed decisions on which influencer to onboard for their campaigns. The more data these platforms can process to generate specific content, the more likely the campaigns will hit the bullseye.

Deeper AI and ML integration

Influencer marketing platforms need to inculcate deeper integration of artificial intelligence and machine learning into their system to help businesses chart out successful campaigns. AI and ML help marketers precisely understand and analyze their content creators’ efficacy the campaign’s performance, detecting fraudulent engagements, predicting and calculating ROI, and keeping the influencer marketing campaign on track. Investing in bolstering these capabilities will help influencer marketing platforms stay relevant in the coming times.

Implementation of new technologies

Influencer marketing platforms need various tools to execute a campaign from start to end successfully. While managing fewer campaigns, these platforms can use manual tools to get the work done. However, when it comes to handling hundreds of influencers engaged in multiple campaigns, platforms will need to implement newer technologies into their systems that can automate processes and increase the accuracy and efficiency of the activity. Tighter integration of technologies that help in e-commerce store integration, workflow and project management, influencer reporting, performance tracking, digital contracts, and campaign management will play a crucial role in the coming times for the success of influencer marketing platforms.

Data-driven influencer pricing

One of the crucial aspects of successfully implementing an influencer marketing campaign is getting the influencer pricing right. There are many variations in the pricing, and most of it depends on the influencer’s reach, engagement, and niche. Determining the proper compensation for the influencer can be a difficult task, and as a brand, you do not want to be over-paying your content creator. Hence, to solve this problem, influencer marketing platforms should scale their data-driven influencer pricing capabilities so that the brands they are working with can generate better returns on their investments. For influencers, associating with a reputed and data-driven influencer marketing platform assures them that they are paid according to the industry standards. So, getting the pricing right will be a critical function for these platforms in the future.

iConnect, the influencer marketing platform from ArabyAds, is the leading platform in the MENA region, whose superior AI and data-backed technology make it the platform of choice for the prime regional and global brands and the top content-creators. While it enables brands to discover the right influencer, manage them, exercise brand control, track and measure the performance, and facilitate secure payments, there are a host of benefits for influencers as well. For example, influencers can experience hassle-free onboarding, access to top global brands, long-term brand association, a chance to grow following exponentially, and fair and timely compensation, to name a few. If you are interested to know more about iConnect, and how it can transform your influencer marketing journey, reach out to us.