How to Measure Success in Influencer Marketing [Sanna Ödmark Interview]

Influence marketing will continue to be a critical part of digital marketing and only increase in importance as brands' organic social media reach continues to decline while newer form of short-form video that are the staple of many social media sites make it challenging for businesses to create and compete with the creativity of the global social media user base.That's why I'm especially excited to interview Sanna Ödmark, Head of Marketing for the Swedish influencer marketing agency Cure Media. You see, more companies are investing more money into influencer marketing, but they aren't necessarily doing it in an effective way.In fact, only 30% of CMO's in a survey that Cure Media conducted answered they know how to collect accurate ROI data from the channel, which is far behind other digital channels, such as website (55%) and SocialMedia (54%).That is why our topic that we discuss,  how to measure success in influencer marketing, is of critical importance.Key Highlights[04:43] What is Cure Media?[06:32] Sanna's Research About Influencer Marketing[09:04] How to Measure Effect of Influencer Marketing[14:41] Mistakes that Marketers Do When Measuring Influence and Marketing[21:31] Ways to Best Measure the Full Effect of Influencer Marketing[26:02] Why Long-term Approach to Influencer Marketing Is Important[29:27] Connect with Sanna and Cure MediaNotable QuotesWithout the correct ROI data, it's impossible to measure whether the activity has been successful, or to debt and which channels drive the most sales.One of the mistakes that many brands do today is that they work with influencers in sales marketing in a silo not using it, as you say, as an integrated part of the digital marketing infrastructure. Everything needs to go and be measured hand in hand.The strength of the channel is the ability to create these brand ambassadors that can talk to your audience in a way that they trust relate to, and rely on. And this is the relationship that you need to take time to build.If you haven't done any major changes in those channels like if the bodies/tactics are the same, you can quite easily attribute those changes or improvements to influence marketing. And if you do this over time to do a very concentrated period of punishments among influencers, you can, over time see trends and patterns. And it will eventually become easier to draw conclusions to learn based on these insights and data.I think what brands really need to remember is that this short term attitude towards influence marketing, this campaign based approach is in direct conflict, where the primary strength of the channel, which is relationship building,  authenticity, credibility, and just like in real life, it takes time to build trust and relationships. And taking a short-term approach to influence marketing is not the best way to go as this ignores the actual goal and value of the channel. Connect with Sanna OdmarkCure Media: https://www.curemedia.comLearn More:Buy Digital Threads: https://nealschaffer.com/digitalthreadsamazonBuy Maximizing LinkedIn for Business Growth: https://nealschaffer.com/maximizinglinkedinamazonJoin My Digital First Mastermind: https://nealschaffer.com/membership/ Learn about My Fractional CMO Consulting Services: https://nealschaffer.com/cmoDownload My Free Ebooks Here: https://nealschaffer.com/books/Subscribe to my YouTube Channel: https://youtube.com/nealschafferAll My Podcast Show Notes: https://podcast.nealschaffer.com