Influencer marketing investments have increased significantly over the past few years. In 2019, the practice spent $8 billion and is expected to increase to $15 billion by 2022. With this growth, influencer Cambodia Phone Number List 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. 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 make data-driven decisions.
And Negotiate Influencer Fees
That’s why today, we’re very excited to launch oIs Your Brand Thinking ur budget optimization toolset, designed to help influencer marketers take control of their budgets by tracking spend, analyzing performance, Cambodia Phone Number List and ultimately optimizing their ROI. 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.
Allocate Campaign Budget
Wondering if you’re overpaying influencers? Schedule a demo to find out. This is the first of 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 Cambodia Phone Number List 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 calculator gave the opposite result, as the second influencer’s engagement rate for similar campaigns has historically been much higher.