Influencer Marketing is particularly popular in “marketing driven” brands but many other brands struggle to measure the impact of qualitative content that their ambassadors produce to reach their audience. Collective Bias, a wholly-owned subsidiary of Inmar, Inc. recently published a Landmark Research Study that highlights the content produced by these influencers. Their contents have been segmented, sorted and tracked in order to assess their impact.
We are all Influencers somewhere
In a very simple way, any action of Social Marketing falls under the Influencer Marketing. On a small scale, when I share a video with the meager audience that follows me, there’s a good chance that some of the people who compose my audience will share that content with their own audience and so on. This generates a minor viral effect that would likely go unnoticed in any analytics tool.
Influencer Marketing has established itself in the marketing matrix
On a large scale, content creators who have a large audience engaged can have a direct impact on sales. Youtube users who open and test live products and boxes are called reviewers and unboxers. Their videos generate considerable numbers of views which means that the target is reached; this represents a certain value and a certain possibility of activation.
Appreciating content and data science online influencers
“The Power of Influence: A Window into ROI” is the first industry report to methodically analyze customer brand’s social campaigns at scale across multiple methodologies and categories to provide sales pick up to clients managing influence marketing campaigns with Collective Bias, versus just Earned Media Value. Collective Bias’ President Bill Sussman told that they were at all times leading the way in this industry, and at the present, they are putting in place a new benchmark for answerability. “We make out that our advertisers dissatisfied with obscure metrics. Currently, under the command of Inmar Analytics, we can beyond doubt appreciate the data science online influencers and content, what is driving in-store activity and the authentic numbers that demonstrate return on spend.”
In fact, the study outlines the following methodologies used to determine the impact of influencer marketing campaigns on sales:
1. Loyalty Card study shows great return on ad spend
This research studied a promotion for a major confection brand at multiple retailers by matching Nielsen Catalina Solutions (NCS) recurrent shopper and loyalty card data with Collective Bias’ first-party audience data. The study measured a 7.6x return on ad spend (ROAS), by weighing families exposed to the campaign’s influencer content versus an unexposed control group.
2. Redemption rate is interesting on promotions Tie-In
This investigation considered the impact of Collective Bias influencer content on promotional/coupon redemptions rates and sales for two campaigns – a national rice brand and a frozen foods brand, both at major retailers. The rice brand had a 45 percent redemption rate. According to Inmar Analytics, the brand’s standard was 15 percent, representing a 3x rise as opposed to industry digital coupon redemption rates of 8 percent in food categories
3. Increase in Retail Sales
Collective Bias considered sales lift for campaigns across quite a few CPG products by taking the client-supplied point of sales (POS) figures and forming test and control groups across numerous retailer regions. In one example for a major laundry detergent, based on a 75,000 US dollars campaign spent, the brand saw a sales increase of 233,000 US dollars k – representing a 3.1x ROAS.
4. In-store traffic is boosted
The impact of influence marketing campaigns on driving in-store foot traffic to large retailer sites was examined through mobile geo-fencing and measurement associate Placed.com. By investigating the conduct of those exposed to influencer content versus an identical unexposed control, results showed that of the group exposed to influencer content, 48 percent paid a visit to the retailer within four days vs. only 29 percent in the same but unexposed control.
Collective Bias broadened the horizons
Irv Turner, Vice President, Analytics and Applied Data Sciences for Collective Bias recalled that they did not resolve on an effortless method of analyzing influence marketing’s impact nor on one simple use case but rather they went deeply in various cases. “What makes this study significant is its breadth,” turner concluded.
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