Reasons why marketing proposals are declined
Reasons why marketing proposals are declined
Measuring financial return on influencer marketing campaigns can create an organization's satisfaction. Social Network Video ad spending is increasing because video consumption is dominating internet traffic, much of which is driven by proper marketing proposal for “influencers”. But can you measure what drove that recent uptick in sales? In 2021, Social Network Video ad spending was approx. $15b, and is expected to continue growing by 62.1% between 2019 and 2023.
Think of this scenario: You run a brand or a portfolio of brands, and most of your peers are tapping into influencer marketing to grow their business. It is important to highlight that influencer marketing has worked in thousands of situations and will continue to do so. On the other hand, UGC (User Generated Content) on TikTok for instance, has also recently shown some significant returns for brands. You decide to present your next viral campaign idea, but management turns it down because they lack clarity on how they can measure the ROI.
Companies are aware of this trend and are incorporating influencer marketing strategies into their broader digital advertising initiatives. In a survey by Influencer Marketing Hub (source, 2021), 59% of companies responded that they allocate a specific piece of their budget to content marketing, and 75% of that group plans to dedicate funds to influencer marketing.
Does this sound familiar? You are not alone! According to a McKinsey Study, 45% of CFOs said marketing proposals had been declined or not fully funded because they didn’t demonstrate a clear line to value. However, let’s say you do have the buy-in from the entire team and you know precisely the type of influencer(s) you need. The internet is still relatively untamed, and it can be hard to demonstrate the monetary value that a viral campaign could drive for a business.
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