Did you know that, according to the Economic Times, “influencer marketing is coming up as the fastest-growing category in India’s digital advertising space, for advertisers like PepsiCo, Under Armour, Lava, Sugar Cosmetics and upGrad, among others?”
In fact, companies in the fashion, automobile, and travel industry have increased their influencer marketing budgets by 20%-30% due to not being able to do regular ad shoots because of COVID-19.
Nevertheless, the increasing popularity of the influencer marketing industry does not detract from the issues this industry faces as a direct result of a lack of standard industry practices and regulations. These issues include weak pricing and measurement standards, a scarcity of contracts, obsessive focus on reach instead of impact, and a lack of vetting influencers for fraud. Fortunately, Sylo is working hard to solve all of these issues with one easy to use solution! So read on to find out more.
Sylo Can Solve Pricing Issues in Influencer Marketing
Without proper pricing standards, both creators and brands get burnt. On one hand, brands could overpay a creator resulting in ad spend waste and no return on investment. On the other hand, creators could undercharge what they’re worth or spend more time negotiating the price than creating content.
Luckily, Sylo is designed to provide the highest quality dataset in the industry. Our software allows you to reduce your risk of ad spend waste at every step of the vetting process and effectively increase your ROI. Sylo will verify the quality of your influencers’ reach to ensure pricing is commensurate with performance! That’s because sylo certification distills millions of data points and insights to convey the investment worthiness of an influencer channel.
What’s more, creators who are Sylo-certified are more likely to exceed contractual performance obligations with a consistent, engaged, and authentic audience. As a creator, you can use verified performance benchmarks from Sylo to negotiate better rates!
Sylo Moves Away from Obsessive Focus on Reach
How many followers an influencer has isn’t a good indication of how effective they will be in an influencer marketing campaign. One of the most prevalent issues in the influencer marketing industry is the use of bot accounts and paid-for followers. Many influencers will buy their audience, so even if it seems like they have 50,0000 followers, many of those accounts might be fake people who will never engage with your brand or buy your products and services. Instead, it’s more important to focus on quality and higher engagement.
But how do you know the quality or actual engagement rate of an influencer? The answer is Sylo! Sylo collects thousands of data points on each influencer channel and post, powering unmatched analytics that has been refined through years of observation and testing. We’ve found that Sylo-certified influencers have 5.5x higher impression rates than non-certified influencers, as well as 4.6x higher reach rates and 2.7x higher engagement rates.
Sylo Vets Influencers for Fraud
As we mentioned above, many influencers have been caught paying for fake followers. For instance, the Times Group published a story reported by the Mumbai Mirror about rapper-singer Badshah (Aditya Sisodia). The police are investigating Badshah for allegedly paying money to obtain fake followers and likes to promote his music. Of course, paying for bogus accounts is fraud. These creators know that these accounts will never buy from any brand, but they’re still charging good money to reach fake people. Influencer fraud accounted for $1.3 billion of wasted ad spend in 2018 alone! That’s precisely why Sylo was created. We want to help brands maximize their ROI and stop falling victim to fraud. Our industry-leading fraud detection protects you from paying for fake followers and bot engagement. Sylo uses high-frequency, always-on data collection and sophisticated analytical methods to identify the multiple forms of fraud taking place in the market today. Other solutions on the market fall short for several reasons:
- They don’t have access to authenticated data.
- Their data is not granular enough.
- They lack the sophisticated analytical tools to detect robotic activity.
Sylo offers the premier solution to reducing ROI risk to influencer fraud in the market.
Book Your Demo Today
If you’re looking to get in on the ever-increasing popularity of influencer marketing, you need to book your demo with Sylo today! When done right, influencer marketing is a fantastic way to reach a wider audience, connect with your current market, and build a trusted brand reputation. There’s no reason your influencer marketing campaign needs to lose money or be exposed to fraud when you work with Sylo! Our sophisticated software has gone through four years of rigours observation and testing to identify and avoid the multiple forms of influencer fraud used today. Plus, the process is easy – we’ll invite prospective influencers to grant us access to share their metrics with you. From there, we will arm you with the information you need to allocate your budget as effectively as possible. So get started now.