Daniel Sánchez is the CEO of Influencity, a data analysis agency for the creation of influencer campaigns.
Daniel Sánchez is the CEO of Influencity, a data analysis agency for the creation of influencer campaigns and has worked with brands like Axe, Campari or Sony. The executive explains that the market is turning professional thanks to new legislations to provide more transparency. Sánchez states that in the future, a lot of profiles will disappear because of the brand’s lack of interest.
MDS: How do we measure influence?
DS: the reach of influencers can not be measured by only one factor, but the key concept is notoriety. Before, the way of measuring the impact of an ad campaign was through surveys to consumers, asking about the celerity of if they where interested in the brand, but this scale is no longer valid. Now the way to measure is finding connection point between users and research, who do they follow? Its also important to be aware of the quality of the audience, how many impressions or what is the percentage of fake followers.
MDS: And the ROI?
DS: If the content is paid its easier to know the efficiency of the investment. If a company makes an investment of 20,000 euros for a campaign and the post gets 20,000 likes, the company has spent one euro for each impression. However, in Instagram, the average cost by impression moves between twelve and thirty euros. In Facebook, is cheaper, the average cost by impression goes between three and five euros. The reason is that this content tends to be less professional and with less qualified profiles.
MDS: Instagram changed a few years ago its algorithm and now threatens to eliminate likes, how will the engagement be measured then?
DS: Its measured in the same way. Even if the reach of impressions of some contents, Instagram Stories, for example, is hidden, the number of likes and comments will remain public. The change that Instagram has made, it’s appropriate because this will make users pay more attention to the content, every time more customized, which leads to more interest.
Now, engagement is more important than likes
MDS: Brands look more for engagement or followers?
DS: It depends in the goal of the campaign. For some years now, the engagement is more important, our goal is that the user interacts with influencers in a direct way. However, some brands that work with influencers add the total followers to the equation, because their main goal is to reach a wider audience.
MDS: What is easier, to measure the ROI of a campaign created with an influencer or a campaign with a celebrity?
DS: It’s the same. Even if they are different careers, metrics to measure the impression or ROI is the same.
MDS: Are micro-influencers the future of influencers marketing?
DS: It changes depending on the strategy and the goals. Campaigns with micro- influencers work toward a specific niche, so its more efficient, and the engagement can also be bigger.
All influencers can’t be put in the same category
MDS: Can I have more ROI in an Instagram post than in a prime-time ad?
DS: Right now, yes. According to several studies an influencers marketing campaign is sixteen times more efficient than conventional advertising campaigns to reach to a younger audience. However, a strategy to back up the content is always necessary.
MDS: Now that you can tell which posts are sponsored, do you loose efficiency?
DS: No, it’s the opposite. Its doesn’t lose credibility because it’s a way of professionalizing the sector. Users value transparency, and knowing what content is sponsored and what not. It affects in a positive way because the user is free to choose if he wants to follow the person or not. Its like in TV, you have the power of switching the channel when adds start. In this subject the law is involved, in the United States is already written and users are forced to specify if a content is sponsored or not.
MDS: Do sponsored content needs a more creative campaign?
DS: Of course, it can’t be just published. In collaborations with brands its necessary a strong storytelling behind, with a well-constructed strategy.
“Not all influencers are good for the same brand”
MDS: Is Chiara Ferragni good for all brands?
DS: No, not all influencers are good for the same brand and vice versa. Companies must measure carefully the type of influencer they need. Sometimes investment is more expensive than expected and the ROI is very low. It also depends in the brands trusting or not technology to measure impacts.
MDS: There is some gossip about the influence bubble, will it happen?
DS: What will happen is an expected evolution of the sector as it turns more and more professional. A lot of profiles will stop existing because no one will contact them anymore. It’s a matter of time.
MDS: Do influencers work better in fashion than in other categories?
DS: Yes, even if it comes with a lot of mistakes from the past. Because the number of fashion focused profiles is higher, there is also more bubble.
It’s easier to create a campaign for a mass consumer company because there are more profiles
MDS: Talking about fashion, are influencers more efficient in mass market or luxury?
DS: It’s easier to create a campaign for a mass consumer because there are more profiles. In luxury, consumers that are willing to pay are harder to find. The key is to see what profile works better.
MDS: However, in fashion magazines most ads are with celebrities or models…
DS: Yes, but the tendency goes more towards influencers to make less traditional campaigns.
MDS: What are the most common mistakes of marketing with influencers?
DS: Besides not choosing the right influencer, the main mistake is not knowing how much to pay. The key to correct mistakes is to use technology to make each campaign more effective.