Framing the Cost and ROI of Influencer Campaigns
As influencer marketing grows in presence, questions still remain around the transparency and accuracy of return on investment (ROI) metrics. We’ll touch on three of today’s common ROI metrics and layer in some of our views on how a brand/marketer should think about the returns and cost attribution of influencer marketing.
At Smartfluence, we recognize the shortcomings of today’s ROI measurements and thus place a priority on pioneering advances in the space, especially as it relates to developing more accurate and industry standardized ROI metrics that clearly take into consideration the marketing goals of brands. That said we’re excited for the evolution of these measurements as it will provide more solid footing to back-up current studies that show influencer campaigns generating 10x multiples in value compared to other forms of digital media. Keep an eye out for for future posts where we will delve deeper into our work on ROI measurement.
Furthermore, our platform can give you an estimate for the cost of every influencer that is on our platform. We aim to achieve true market transparency for how much an influencer campaign should cost. Through our sophisticated pricing models, we have given estimates for these prices based on factors that include historical campaign costs, current market pricing of an influencer, and audience quality.
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