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See what's includedIn recent years, using influencers to market products has become a core part of most brands marketing strategy. But now it has become a key strategy for some of the world's biggest luxury brands. The struggle for many luxury brands is being able to measure their return on investment, as it is hard to single its success down to just one influencer or product.
One study asked both luxury and non-luxury brands how they measure the success of a campaign where influencers have been used as part of the strategy.
62% of luxury brands said that revenue generation is an important measure of success, whereas only 44% of non-luxury brands place value on revenue. For luxury brands 79% measure the success of influencer collaborations through web traffic generated.
Although it is difficult to fully understand what impact influencers have, brands can measure many factors as seen above. They may also want to consider metrics such as engagement rates or using tracking pixels and taking advantage of social media analysis tools.
By Jessica Wade
I was previously the Social Media Executive for Smart Insights and managed all of Smart Insights social media channels and social strategy. I love all things social, most of the time you will find me endlessly scrolling through Instagram. You can follow me on Twitter or connect on LinkedIn.
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