Influencer marketing platform Traackr has released two industry-first influencer marketing measurement tools, creating a new standard for understanding the value of influencer marketing.
The lack of reliable measurement for influencer marketing has been an issue for many brands. Traackr noticed the need for a scalable way to objectively and reliably measure a brand’s performance in the wider influencer space and created two revolutionary tools that will help change the landscape for the better.
The first, Influencer Marketing Benchmark (IMB), allows brands to measure its influencer strategies accurately, constantly, and most importantly, transparently.
So, how does it work? Using IMB, brands can track their performance among the entire influencer market, and compare their brand to their competition, to the market, and over time. Then, marketers can make those all-important decisions using real insights and data. It is the most comprehensive market benchmark for marketers looking to better understand the impact of influencer content on their brand’s performance and reap the most rewards from their investments.
Data-driven influencer marketing
Traackr has developed a proprietary methodology for establishing non-biased coverage of influencers so brands can be benchmarked in a transparent way.
Here are some of the IMB features:
- Measure consistently across key social platforms and understand where to focus your efforts for the most impact
- Discover and track the top performing influencers and content for each of your competitors
- Analyse how brands with products in multiple categories are performing within specific categories
- Understand brands competitive behaviours and identify new risers within the industry
- Measure the impact of all types of influencers in each country on both brand and competitors
- Compare the performance of paid versus earned influencer strategies and gain insight into where competitors are allocating budgets
Brand Vitality Score
The second industry-first tool is Brand Vitality Score (VIT). Brands can measure what’s important: visibility (reach of content), impact (engagement generated) and trust (quality of content on brand image). Measuring these components allows marketers to gain the insights they need to improve where it matters most to them. VIT is calculated as (visibility + impact) x trust.
“Influencer marketing has reached an inflection point for many brands and management is now demanding more sophisticated measurement of the impact of influencer marketing on business results,” said Pierre-Loic Assayag, CEO of Traackr.
“Marketers have struggled to meet these expectations because they lacked the right technology. Traackr’s IMB and Brand Vitality Score answer this challenge by providing a meaningful and transparent framework to measure the impact of influencers on brands and elevates influencer marketing to the level of other core marketing practices.”
In a few months Traackr will celebrate its ten-year anniversary, so what better way than introducing not one but two new innovative tools that will help push the industry forward.