Using Brand Lift To Measure the Impact of Influencer marketing

Influencer marketing is expected to reach a market size of $24 billion by the end of 2024, according to Statista. And it occupies a larger space in the marketing toolbox than ever before, with nearly 60% of practitioners in a recent study saying they intend to increase their influencer budget over the next 12 months. Its tremendous adoption can be attributed in large part to its ability to help brands and agencies reach new audiences, raise awareness, build connections and drive sales.

But for marketing leaders, there is still one question tugging back on the investment reins: How do you know it’s actually working?

The ROI Dilemma

Unfortunately, the marketer’s utopia where all influencer campaigns revolve around links and promo codes that lead to one-step trackable sales does not exist. The goals of influencer marketing are nuanced and wide-ranging. Some aim to increase familiarity and spark brand love, while others may hope to shift perceptions or solidify a place for their product in the consideration set. Reach, impressions, shares, engagement rate and earned media value are there (as they’ve been for decades). These metrics are notoriously easy to come by, but famously fall short in helping marketing leaders understand exactly what moved the needle and why.

Read the CMO Article