As budgets are being cut across the board due to the global pandemic, marketers will be looking to accurately track spend, opitmise budgets, and measure return on investment. In light of this, influencer marketing platform Traackr has released budget optimisation tools for marketers to better track spend and increase ROI.
The tools address the issue of inefficiencies in traditional measurement models. Traackr found that on average, brands paying influencers based on CPM versus CPME are overpaying by 262%. The most costly influencer investment mistakes include misaligned investment, over-investment and under-investment.
Traackr’s tools enable brands to identify the influencers and strategies that achieve the highest ROI by tracking spend across all campaigns and analysing performance.
“At a time when all marketers are seeking efficiencies in their marketing dollars, influencer marketing needs to bring more discipline to the tracking and optimisation of its spend. We developed these tools so marketers can analyse spend across influencer programs, helping to redefine their approach to influencer collaborations with better outcomes for the brand, influencers and consumers,” said Pierre-Loïc Assayag, CEO and co-founder of Traackr.
The toolset includes a budget calculator, spend tracking, global influencer payments, multi-currency support, and ROI reporting.