As influencer marketing continues to mature and marketers increase ad budgets for this category, there’s more effort than ever to keep tabs on the competition, according to four marketers who told Digiday they’re more focused on competitors’ influencer marketing strategies this year.
During the third quarter of 2023, influencer marketing shop Obviously started to spend more time talking to clients and pitching new business on its “predictive modeling” capabilities, according to Mae Karwowski, CEO and founder of the company. That process includes analyzing spending habits, influencer relationships and the overall share of influence of the market that a brand’s competitor may have on a monthly or quarterly basis and then devising a strategy for their client brand based on that knowledge.
That intel can give potential clients a better idea of the “white space” available, explained Karwowski, who added anecdotally that throughout the first quarter of this year the shop has been “winning more pitches,” but did not provide specific new client names. Let’s say your competition is “really crushing it with this segment of Instagram Reels and it’s all funny content,” said Karwowski, adding that understanding what a competitor is doing allows marketers to find points of differentiation. “If you want to be funny, you’ve got to be funnier than them. Or we can go with something more educational or do story times.”
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The original post is at Marketing Archives – Digiday
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