Delivered September 14, 2020. Contributor: Syed A.
To determine the effectiveness of influencer marketing, especially for e-commerce businesses, and leveraging influencer marketing for all three stages of the marketing funnel.
Effectiveness of Influencer Marketing
Earned Media Value
Earned media value is defined as the publicity that a company/brand earns through efforts other than paid marketing.
According to a 2019 survey of marketing agencies, brands, and relevant professionals, influencer marketing can help companies in achieving impressive results. Companies reported an average earned media value of $5.2 for every dollar spent on influencer marketing.
The earned media value reported in the survey was as high as $18 per dollar spent on influencer marketing.
A simple mention in a social media post from an influencer can help reach a large audience. An example is of a cat food brand that used influencer marketing. The brand reached 89,000 people through a simple social media mention.
At the middle stage of the marketing funnel, influencer marketing strategies such as product reviews, how-to videos, and forum-style discussions can be helpful.