SAN FRANCISCO: Influencer marketing platform Traackr has added capabilities to boost and track revenue driven by influencers’ social media use.
The workflow tools assist brands in more accurately attributing sales that result from influencers’ online posts and measuring the revenue that stems from their partnerships.
Traackr CEO Pierre-Loic Assayag noted that influencer marketing started as a bottom-up, small-scale practice. However, that has changed.
“In some cases our clients are putting hundreds of millions in partnerships, so they have to have hard data behind it to make wise investments,” he said. “Our platform allows brands to compare and contrast influencer partnerships, types of content, campaigns and brands so that they can optimize their investments.”
Brands are expected to spend more than $3 billion on influencer campaigns in 2021 and over $4 billion in 2022, according to eMarketer.
Features on the Traackr platform include attribution modeling, which allocates commission based on contractual agreements. For example, when more than one influencer touts a product, the software allocates the percentage of sales to attribute to the various influencers.
It creates, assigns and shares tracking links for large groups of influencers, so brands can ascertain the pathways of visits to their online sites. The platform measures clicks, knowing when internet activity converts to revenue, generated by individual influencers. It can calculate and send commission payments to influencers. It also directly communicates with e-commerce sites, including those run by Shopify, BigCommerce and Magento.
Traackr brings together information for brands to evaluate the impact of influencers along the sales process, from awareness and consideration through sales. This helps brands decide not only when to select influencers but also when to divest.
“It can look good to work with a million-follower influencer. But if this really yields no tangible results for the company, this information allows them to decide, ‘I'm going to scale down that investment,’ based on data rather than a gut feeling, which is the way practice has been historically” said Assayag. “So, it’s a pretty striking departure.”
With offices in San Francisco, New York, Boston, London and Paris, some of Traackr’s clients include L'Oréal, Shiseido, Revlon, Samsung and Logitech.