Traackr scooped Best Relationship Management Tool at this year’s virtual Influencer Marketing Awards. Evy Lyons, VP of marketing at Traackr, tells us how it feels to be recognised as an industry leader in providing relationship management and the secrets to managing influencer relationships.
Congratulations on your IMA win! Tell us about winning the Best Relationship Management Tool at this year’s Influencer Marketing Awards?
We were thrilled to win the Best Relationship Management Tool. It’s an honour to be recognised as the industry leader in providing a system of record for influencer relationship management.
Relationships are at the heart of influencer marketing. For the last 10 years, Traackr has been dedicated to building a technology platform that powers authentic influencer marketing in all of its forms from organic advocacy to long-term collaborations. To be crowned as the best relationships management tool is an honour because ultimately this recognition demonstrates that we are meeting the needs of our market.
Why do you think events like the Influencer Marketing Awards are so vital for our industry?
Awards like the IMAs provide a framework for identifying and honouring the best in our industry. It’s important for every industry to recognise the best practices, creative campaigns and top-performing technologies so that we can collectively improve and grow. Plus, it’s important to take the time to celebrate! Even more in the current context.
Can you give us some insight into how Traackr manages influencer relationships and what makes it work well?
Traackr is the system of record for data-driven influencer marketing. From discovery, vetting and campaign orchestration to program management and reporting, Traackr makes it possible to build the right relationships at scale. We do this well because we provide flexible workflow, customisable account configurations and rich insights that support organisations from all angles.
We work with some of the largest organisations in the world who have massive brand portfolios. Each brand is managing hundreds or even thousands of influencer relationships. So you can imagine how important it is for them to have a technology that not only streamlines the process but provides the reporting and insights they need to make informed budget decisions, all while nurturing relationships that can make or break a brand. Ensuring our customer can do this is our passion!
Do you have any tips for managing influencer relationships remotely?
In these uncertain times, it’s tempting to go silent, but that is the worst thing you can do. Many of our customers have seen how powerful their influencer relationships can be during these hard times. It’s why it’s so important to take a cross-campaign view to influencer marketing.
In terms of tips, it’s essential to check in with your influencers! Find out how they are pivoting their content. Ask how you can contribute, promote or otherwise collaborate. We’ve seen a lot of very good examples of brand ambassadors programs carrying through these WFH times, for example, we interviewed one of our customers, Ancient Nutrition, about this very topic.
How do you measure performance and what should marketers be measuring?
That’s the million-dollar question! Influencer marketing measurement has evolved a lot over the last few years. Today, we enable our customers to measure performance at every level starting with the performance of a specific-piece of influencer content all the way to a brand’s performance among all influencers in a given geographic market.
Marketers should be measuring what matters and that will change based on their vantage point. Are they measuring the performance of an influencer for their brand? A campaign? Or the impact of an entire roster of influencers across a brand portfolio.
What we’ve noticed is that the most sophisticated programs will match key performance indicators to the business goal. If a campaign is about awareness, impressions matter. If a campaign is meant to drive a purchase, conversions matter. Across the board, we’ve seen a surge in usage of cost-based efficiency metrics. What’s the cost per impression or per engagement for a given influencer, campaign or program? Our role as a technology provider is to ensure our customers have access to the metrics they need at all times.
What ways does Traackr help mitigate fraud and handle disclosure?
Influencer fraud is an issue that the industry has been working to combat for some time. Our capabilities allow marketers to see inside an influencer’s audience demographics and quality to ensure there is a fit. We also have a suite of brand safety features which enable brands to quickly be alerted if influencers are publishing content that is misaligned with the brand’s values and track for proper disclosure.
If you had one wish for the influencer industry, what would it be?
The humanisation of influencers! Society has mixed perspectives on influencers and we’ve all rolled our eyes when someone utters the word authenticity. But really, influencers do impact our lives and authenticity matters. This year, in particular, has raised the bar for brands and influencers alike so I am hopeful. Ultimately, people choose to follow influencers because they add something to their lives.
Anything you can tell us about what to expect from Traackr in the coming months?
A lot of exciting things! You can expect us to keep delivering capabilities that will help drive the practice of influencer marketing and influencer relationship building forward. Stay tuned.