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- Shany Caidar, CRO ✉️
Influencer marketing is the fastest growing marketing channel today, with a global spend that is expected to reach $48B by 2026. Marketers today understand that there is a viable alternative to the traditional form of digital advertising that has emerged since the Internet revolution of the early 2000s.
The major difference between influencer marketing and traditional digital advertising is that the former offers content people choose to watch while the latter triggers content in front of people without their choice, typically interfering with the content they want to watch. Many people would argue that such traditional advertising, as big as the budgets are that it serves, is antiquated, aggressive and has no place in an evolved digital landscape. In fact, we see that Gen Z audiences outright reject such ads, and instead opt to hear from creators that they choose to follow, about commercial products and services of interest.
Now that we understand the “Why”, let's dive into the “KPI”. What is the measure of a successful influencer campaign? At Creatable, we measure the results from influencer content on two separate levels: activity on social media, and activity on your ecommerce site. We believe that both are critical in order to understand the entire funnel and gain the full benefits from an influencer marketing campaign. The KPIs followed on social media are (i) earned media value (what the organic engagement would cost had you attempted to buy such engagement via traditional advertising), (ii) actual engagement rates with influencer content, and (iii) cost per view (CPV). KPIs on site are more transactional given the ability to follow the consumer funnel through to conversion with higher precision on your first party site, and include (i) revenue per view and (ii) conversion rates from creator content. Note that a creator-powered experience on site requires deployment of the experience with a dynamic recommendation engine to fuel and serve the content, all of which is available on the Creatable platform.
Results will vary from one social platform to another, but Creatable commonly sees social engagement rates ranging from 8% to 12% and an earned media value that far exceeds the cost of the campaign. Knowing that you are gaining higher valued engagement by an audience that meets your demographic and actively follows your creators of choice gives you the peace of mind that your ROAS is meaningful, well before you deploy content on site to gain even further value. Typical CPV on social media from a Creatable video campaign will fall within a $0.10-$0.30 range, well within expected CPV ranges for traditional pre-roll ads that do not gain anything close to the engagement rates an influencer campaign will deliver, not to mention the fact that they block the actual content consumers want to watch, as noted above.
Once you have gained new assets from a campaign, the Creatable platform will automatically deliver eligible content to your product pages where conversion rates from shoppers who engage with the creator content fall within 2-3X your standard ecommerce conversion rate. In addition, Creatable customers typically see a revenue per view that will exceed $5. At a $0.10 - $0.30 CPV, ROAS is further extended throughout the lifetime of the product on your site. Influencer marketing works, and just makes a ton of sense. Feel free to reach out to me on shany@creatable.io to learn how easy it is to launch your first Creatable campaign and gain the most from your hard-earned media dollars.
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