Opinions Need to Be Supported By Facts - Stop Listening to the Noise & Follow the Results
This morning, like every morning, I read and catch up on what’s new in marketing, advertising and technology. Today, I saw an opinion piece written for AdAge that compelled me to write a response. In this fact less opinion piece the author takes the position that marketers need to stop using what he calls the, “reckless adoption of social media influencers”. He then goes on to make a series of baseless claims. All of which were wrong.
The only accurate statement he makes is that 92% of consumers turn to people they know for referrals and recommendations. Which is ironic because it directly contradicts his entire piece.
Influencer marketing and content marketing more broadly are highly effective marketing tactics. The data completely supports this statement. In the activations I have been a part of we consistently see substantial increases in media performance when using content created by influencers. They include an average increase in ad recall of 3X, 2-5X increases in purchase intent and high levels of conversion.
He also notes that influencer marketing was estimated to be a $15 billion industry in 2019. Which begs the question, if it doesn’t work how could it possibly grow to this level of scale?
Marketers aren’t dumb. They aren’t chasing vanity metrics or unicorns. They are trying to drive business outcomes. Utilizing paid media and third-party measurement to prove those outcomes is highly effective. It also proves that influencer marketing and the content they create absolutely works.
I will acknowledge there are some fundamental challenges that exist in the industry. Yes, fraud is a major issue. Yes, understanding an influencers audience is important. Marketers need to know their message is reaching the right consumers. Technology is the great equalizer to address both of these critical areas. The good news for marketers is that there are in fact software solutions that address these concerns. I should know, I built one.
We have to also understand how we got to this place. Consumer trust in advertising was plummeting. We needed more content, segmented content, less expensive content and content that drives results. These are things the “gig” economy is uniquely positioned to address. Versus incumbent models that are struggling to find their footing in an evolved advertising ecosystem.
Opinions are everywhere and you know what people say about them. As a marketer I wouldn’t put much weight in those that are making baseless claims. Data doesn’t lie, it designed precisely to avoid that. Trust your metrics and insights to make content marketing work for your brand.