A massive misconception within the influencer marketing space is that you cannot accurately track the success of your campaigns. Sorry to break it to you but if you’re not tracking, you’re not doing it properly.
There are so many ways to measure the success of influencer campaigns past vanity metrics. For example, a cost-per-engagement (CPE) structure works out how cost effective your chosen influencer is, and engagement rates show how well your influencer adheres to your audience’s needs. That’s without mentioning other methods like brand uplift studies, unique tracked codes, pixel tracking, or platform builds.
If you’re new to the influencer marketing game, this might sound confusing, but it doesn’t have to be. Here are five of our favourite platforms that make tricky return on investment (ROI) tracking a thing of the past:
Age: 1 year
Overview: Never heard of OOOOO? Don’t sweat it. It’s new, but true to name, it’ll make you go “Ooooo”. Think TikTok meets QVC; this is an innovative new platform where users can be entertained through brand and influencer content, whilst shopping as they go. It will come as no surprise that brands like Boohoo and I Saw It First are already making waves on the platform.
How it works: Users will watch a stream that’s promoting a new product, and this product is linked on screen. Users can browse and, should they choose to purchase, they won’t even have to leave the stream to fulfil their order. Buying direct from the site makes it easy for brands to measure sales and conversion rates and, like affiliate schemes, this allows the creator to receive commission on sold items.
Name: TikTok Live Stream Shopping
Age: 1 year
Overview: TikTok has been wanting to break into the e-commerce space for a while now, and it’s recently expanded its partnership with Shopify to launch its live stream shopping feature in the UK, US, and Canada, which will allow users to purchase directly from creators on stream.
How it works: Similar to OOOOO, influencers can pin an item to their livestream and users can add it to their cart for purchase. This update will also allow business accounts to add a shopping tab to their profile which links to their online store. Walmart first piloted this technology last year with a ‘Holiday Shop-Along Spectacular’ featuring ten TikTok creators, and it gained 7x the predicted views. More recently, Kylie Jenner’s Kylie Cosmetics trialled the service, so you know other brands will follow suit…
Name: LTK (formerly rewardStyle)
Age: 10 years
Overview: LTK is an end-to-end direct to consumer (DTC) service that unites over 150K top tier creators with 1M brands in 100 countries. They commission, licence, and distribute original content via creators to drive traffic and sales for brands and businesses.
How it works: LTK’s service includes affiliate commissions and brand collaborations. The affiliate network feature specific products in social posts to appeal to their audience. These posts contain a personalised link which, when clicked, implant a cookie on the audience’s web browser to track whether a sale occurs. Following Instagram’s recent call to replace the Swipe-Up with Link Stickers, this technology will likely take place through image-based widgets instead. In the case of a sale, the LTK affiliate receives a commission, which is usually a 7-20% cut of the total sale.
Name: Audience Project
Age: 10 Years
Overview: You want eyes on your content, and you can easily track this via reach and impressions. However, Audience Project lets you know what these eyes actually think of your content. This interface measures the impact of your video campaigns upon consumers, which is great to prove the value of your content output.
How it works: This interface targets consumers that have been exposed to your content, and consumers that haven’t. These consumers are then sent a perception survey based on whichever metric you want to measure, maybe brand awareness or campaign liking. You can then compare and analyse these sets of results to see how your campaign is performing in terms of consumer perception. This can then be used to support or improve your future campaign approach.
Name: 21 Buttons
Age: 6 years
Overview: 21 Buttons: the answer to every “OMG where did you get that shirt?!” With grid profiles, a discovery tab, and a wealth of users and influencers, 21 Buttons looks like a social network. However, 21 Buttons breeds the entertainment value of Instagram with the inventory of ASOS to bring you on-demand outfit inspo and an amazing affiliate opportunity.
How it works: First, creators take an outfit pic and tag the relevant fashion items. Then, creators add captions, hashtags, and ta-dah… it’s posted! Users can browse these tags, click through, and potentially make a purchase, which gives creators a commission. 21 Buttons also allows multiple brand tags per post, compared to a #InstaAd which only allows one. With the death of Insta Swipe-Ups, maybe direct tagging is the future for influencer marketing?
Whilst there’s plenty to choose from, OOOOO is the one to watch. It’s an innovator in its own lane, paving the way for e-commerce businesses to achieve reliable and accessible ROI data.
Whether you’re in the content or commissioning it, these platforms offer in-depth insights on the effectiveness of your campaign. In our view, whilst there’s plenty to choose from, OOOOO is the one to watch. It’s an innovator in its own lane, paving the way for e-commerce businesses to achieve reliable and accessible ROI data. With technology evolving all the time, it’s hard to know what’s right for your business. If you need help getting the most from your influencer marketing strategy, drop us a line at email@example.com.