Influencer marketing is a “hot mess,” according The Wall Street Journal.
I tend to agree, as it’s a challenge to build the ideal marketing technology stack.
Currently, with influencer marketing technology, there isn’t one solution that comprehensively covers all areas.
From discovery to engagement to tracking and reporting, there are many different solutions, but they don’t always fit together.
Welcome to martech.S
an Francisco-based Lighthouse3, a market research and strategy consulting firm, is among the first to attempt to demystify this influencer martech space with their comprehensive report, “The CMO’s Guide to Influencer Marketing Technology” (email registration required).
As Mia Dand, principal analyst at Lighthouse3, says:This report aims to add clarity to a space that’s been overlooked by most research/analyst firms because it’s not big enough. There isn’t one version of truth out there so most of the information on this industry comes from influencers themselves or the vendors. This provides an unbiased and objective perspective on the influencer space.
The following are some highlights of the report, which outlines some key trends and challenges in the space.
Influencer marketing technology is a fragmented space
With over 133 vendors across five categories, influencer marketing is a highly fragmented industry. There is no one-solution-fits-all .Lighthouse3 found that three primary trends are behind the growth in the influencer marketing technology arena: