Introduction to Influencers Marketing
Traditionally, to create a successful advertisement, the companies looked for artistic creativity and financial muscle.
The most common path for companies looking to make their presence was to hire a good agency and produce a 30-second ad.
This 30-second ad was then broadcasted by spending enormous money on T.V and newspapers, and finally, you were bound to make a splash.
However, with the emergence of the internet, the majority of the population shifting online, the traditional option became quite ineffective.
People were on their mobile phones now and advertisers couldn’t remain on T.V and other old channels. Soon enough companies started to shift their presence online.
However, they faced one major problem; users were looking for content that actually resonates with them. So, brands started to personalize their marketing to reach their target audience.
In the next few years to make their marketing efforts more personal they started using influencers as their ambassadors.
Hence, starting a new wave in marketing which shook the entire digital marketing landscape. Influencer marketing started with an experimental channel and soon grew exponentially over the next few years. Now, it has become a key success factor for marketing organizations.
Today, influencer marketing is still largely occupied by dominantly B2C (business to consumer) marketers while a comparatively small portion of B2B (businesses to business) marketers can be found in the enormous marketplace.
The biggest and most important clients in B2C are food, beauty, and fashion. However, the usage of B2B has started to take off as influencers are becoming more and more important in pharmaceuticals, technology, and financial services.
Additionally, a large sum is still diverted towards T.V celebrities and footballers that have millions of Instagram followers.
For instance – Kylie Jenner charges $1m for a single post. Hierarchy has started to evolve and the industry is maturing to find new roles for more modest players.
Macro, mid-tier, micro, and nano influencers have more than half a million, 100,000 plus, 10,000 plus, and 1,000 to 10,000 followers respectively.
Major advertising firms and clients are now focusing on influencers that have more modest followings. It allows them to be more precise when it comes to targeted marketing. It has also been observed that influencers with lesser followers generate more engagement from followers.
How Influencer Marketing Gained Importance?
Let’s start with a little history first – Amra & Elma, a New York-based influencer marketing agency, developed a platform.
Through this platform, the agency enabled its client to use an artificial intelligence image to find specific influencers by analyzing data from Instagram.
For instance, the platform allowed them to find an influencer with, say, between 10,000 and 50,000 followers and other specifications such as those that had posted photos in some kind of luxury car.
Then comes the incident that can be stated as one of the many that took place between the deployed AI’s of digital marketers and social media platforms.
After the Facebook–Cambridge Analytica data breach where personal data of millions of Facebook users’ was harvested without consent, Facebook altered its Instagram API.
The change was a small element, but it made searching its giant database of photos hard for users, creating a significant problem for the digital marketing industry.
One of the aspects was that Facebook’s move killed this capability of Amra & Elma and many such companies in a keystroke.
In the next few years, the internet changed all that and today three major words dominate the industry are data, analytics, and algorithms.
Data visualization is unquestionably the top word today when it comes to data and analytics. Some data visualization tools can help you out.
Now, digital marketing has become a cool part of the whole advertisement and marketing industry. This is mainly because of its ability to obtain and analyze data as its core skill.
The important aspect of it all is to understand the mechanics of social media platforms. According to many experts, AI has become a game-changer in the digital marketing landscape and more importantly for influencer marketing.
How AI can Transform Influencer Marketing?
Artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) revolutionized how brands conduct marketing.
Today, AI-powered influencer marketing technologies are helping brands in three key aspects: identifying the right creators, creating more relevant content, and suggesting impactful workflow actions.
The advantage of influencer marketing lies in the ability to consider an inordinate amount of data as the digital environment expands.
Brands are now able to identify their target demographic with precision and plan out content to speak with them directly. With several innovations, brands can now identify what topics are trending and are most talked about by on YouTube and Instagram TV.
Influencer marketing becomes one of the most significant and fast-growing sections of the industry and is currently valued at $8bn.
It was forecast to double in size in the coming two years before COVID-19 came along. Brands will focus on digital marketing as it is far more efficient and data-driven than other marketing channels. Also, it is the most economical way to get large-scale distribution and production of quality content.
Let’s understand some ways AI-driven API that can help brands tackle challenges to enhance efficiency and get results fast.
1. Find Right Creators
For companies, the first step and probably the toughest when starting influencer marketing is finding the right influence.
Today, the world is full of attention-grabbing ads and customers are presented with them everywhere. Hence, its urgent need for brands to redefine their content as an average person comes in contact with thousands of brand messages every day.
If brands want themselves to be heard and resonate with their audience it is important for them to cut through the chaos. Here, AI and ML can help in three ways:
- Influencer Classification
Brands can take advantage of NLP to analyze the content of several creators’ posts. They can then generate other crucial information about their interests, demographics, industries, and brand affinities.
Also, they can leverage visual search analyses through the visual content of the creator’s posts. These classifications on influencer platforms are ever-evolving discovery search engines.
- Sentiment Analysis
Similar to previously discussed AI processes, AI can also access and gauge the content of comments on the creator’s posts to conclude their audiences.
Sentiment analysis can help gain more crucial insights by understanding the reaction of audiences on a piece of content based on engagements and comments.
- Relevant Creator
Another crucial step for a brand is to identify its goals that it is targeting to achieve through influencer marketing efforts. It can then extract inputs from any previous experiences.
This is because influencer marketing platforms can only suggest creators that might be most successful for campaigns. This can help them dramatically save cost on initial discovery before qualitative vetting.
2. Detect Fraudulently
Finding relevant influences is not a tough enough job, the path had been decorated with hurdles by fraudulent influencers.
These are many instances where some fake influencers can take center stage by using social bots to falsify their impact.
This can prove to be fatal for several reasons as the company many face the risk of damaging its reputation along with rendering its campaign useless.
However, all this can be prevented by again going back to AI for help. AI can analyze patterns and footprints at scale among comments and followers.
This can help distinguish between real-life and computer-generated influencers. It is simply impossible for brands to do this manually.
Hence, using an AI can constantly maintain, analyze, and scale fraudulent footprints indicating fake accounts.
3. Identify Relevant Content
While brands need to find real-influences that can be trusted, another vital step remains to identify the type of content which best resonates with a particular influencer’s followers and company’s target audience.
It has become important to automated analysis and understands if the content is generating desired results. AI can process vast quantities of data to assess the value of content.
Also, its ability to produce editorial content is another valuable suggestion based on results versus hundreds of inputs.
A significant challenge of an influencer marketing campaign is to calculate the ROI. It’s crucial to collect and analyze engagement with the help of social media metrics.
However, another more important aspect is converting this into value in terms of overall revenue. AI enables regression analysis through algorithms that draw correlations from metric blends.
Also, it helps find correlations between impactful metrics and models to help predict future performance. Furthermore, AI can also predict ROI through dynamic performance forecasts and benchmarking.
Dynamic and broad forecasts and benchmarking can be dealt with with the help of a machine with the mass amounts of big data to crunch top-level insights.
Top 8 Artificial Intelligence Influencers:
People that are interested in the world of technology should follow some of the top AI influencers. Here is the list of top 8 AI influencers that are excelling in the field of the technology world.
1. Kirk Borne
Currently, Kirk Borne is working as the Principal Data Scientist and Data Science Fellow at Booz Allen Hamilton. He is a global speaker, astrophysicist, space scientist, and consultant.
His specialties include both inspirational and Technical speaking. He consults many disciplines including ML, data science, data mining, big data, data analytics, x-informatics, scientific data mining, scientific databases, computational-X, Observational Astronomy, Astroinformatics among others.
2. Bernard Marr
Bernard Marr is a bestselling author, keynote speaker, strategic advisor, and futurist. He coaches and advises many well-known government and organizations on business performance and digital transformation.
He has recently ranked as one of the top 5 business influencers in the world by LinkedIn. His social media has over 1.3m followers on LinkedIn, over 120k Twitter followers, over 175K fans on Facebook, over 20k followers on Instagram, and have an active presence on both YouTube and SlideShare.
Ronald is the Director of Advertisement and also an Advisory Board Member & Big data and Analytics Course Advisor for Simplilearn.
He has been recognized in the field of digital transformation by organizations including Dataconomy, Onalytica, and Klout.
Also, he writes articles and host webinars on IoT, big data, data science, analytics, and other topics. His audience consists of over 150,000 social media fans and followers.
4. Adam Coates
Adam Coates is Director at Apple and Stanford University alumni. Until September 2017, he was also the director of the Silicon Valley AI Lab at Baidu Research.
In his graduation period, Adam co-developed an autonomous aerobatic helicopter, early large-scale deep learning methods, and worked on perception systems for robots.
He has also developed software for high-performance deep learning computing systems with a team at Stanford. It is used for object detection, self-driving cars, and unsupervised learning.
5. Andrew Ng
Andrew is co-chairman and co-founder of Coursera and has worked as the VP & Chief Scientist of Baidu. He also works as Adjunct Professor at Stanford University.
He led the development of Stanford University in 2011 for the MOOC platform and taught an online ML class to more than 100,000 students.
His goal is to provide access to education for free. Ng has also worked on ML with emphasized deep learning. He has also founded and led the Google Brain project is known for its development of deep learning algorithms which resulted in the famous Google cat result.
6. Gary Marcus
Gary Marcus is a best-selling author, entrepreneur, and scientist. He is the CEO and founder of Robust AI and Geometric Intelligence.
He has authored five books that include The Birth of the Mind, The Algebraic Mind, Kluge, The New York Times best-seller Guitar Zero, The Future of the Brain, and The Norton Psychology Reader. He has been extensively published in fields from human and animal behavior to neuroscience and AI.
Andreas Mueller is the author of the book – Introduction to machine learning with Python and Associate Research Scientist at the Data Science Institute.
He is also the core developer of the sci-kit-learn machine learning library and Software Carpentry instructor. He has worked at the Center for Data Science at NYU and as a Machine Learning Scientist at Amazon. His mission is to promote reproducible science and democratize access to high-quality ML algorithms.
Further visit: 7 Amazing Benefits of Artificial Intelligence in Banking
8. Allie Miller
Allie is the Head of AI Business Development for Startups and Venture Capital at Amazon in the U.S. She has a background in AI, cognitive science, human-computer interaction, analytics, product and user experience, and consumer insights.
She was the youngest woman to build an AI product at IBM. She was named as “AI Innovator of the Year” by Forbes and AI Summit as 2019‘s and Top Voice for Technology 2019 by LinkedIn.
Allie is an ambassador for the American Association for the Advancement of Science (AAAS), an ambassador for the 10,000-person organization Advancing Women in Product, the Founder of The AI Pipeline, and has won the Grand Prize in three national innovation competitions.
These are some of the most remarkable AI influencers. As the current trend of the new and evolving influencers garnering interest among tech professionals, the ecosystem is filled with new-age innovations and opportunities.
AI influencers that have now turned into some of the most popular AI celebrities on social media platforms have given perspective to many budding leaders.
Influencer marketing started with a simple experiment and has now turned into a multi-billion dollar industry. Using this method brands cannot just build trust with their target audience but also increase their brand awareness.
The growing challenges faced by the country, there are many manual and time-consuming tasks that have been replaced by AI-powered tools.
Brands can now utilize many available AI-based API for influencer marketing campaigns. While it can prove to be one of the most effective tools, it can never work to replace or substitution human expertise.
These tools can help get maximum out of brand promotion campaigns. By saving time from the hectic task it gives human workforces time to dedicate themselves towards overall strategy.
Brands need to find an optimal balance between human-led decision-making and AI-driven automation to make the most from the influencer marketing.