Influencer marketing investments have increased significantly over the past few years. With this growth, influencer marketers are under increasing pressure to demonstrate return on investment (ROI) heading into 2020. Enter COVID-19, and the economic turmoil that follows. This stress turned into pain. Budgets are being slashed, and influencer marketers are now finding. Themselves under pressure not only to demonstrate ROI, but to deliver more for less.
I Firmly Believe That Life
Every challenge is an opportunity. At Traackr, we believe it’s time for influencer marketing to prove its effectiveness as a marketing channel. To do this, however, influencer marketers need the right tools to Armenia Phone Number List to make data-driven decisions. That’s why today, we’re very excited to launch our budget optimization toolset, designed to help influencer marketers take control of their budgets by tracking spending, analyzing Armenia Phone Number List performance, and ultimately optimizing their ROI.
And Negotiate Influencer Fees
When setting up a campaign in Traackr, you define a campaign budget and a set of deliverables for each influencer. When you enter these deliverables, Traackr’s budget calculator generates suggested fees based on the influencer’s historical performance. This is the first of Armenia Phone Number List several opportunities to use data to increase efficiency in budget optimization workflows. Traditionally, influencer marketing has followed in the footsteps of advertising, negotiating fees based on audience size. However, audience size isn’t the best indicator of influence compensation — influence is.
Take the following example as an example. Conventional practice suggests that, given that the first influencer has a much larger audience, she will be paid more than the second. However, Traackr’s budget Armenia Phone Number List calculator gave the opposite result, as the second influencer’s engagement rate for similar campaigns has historically been much higher.