Chart of the day: 71% of luxury brands measure influencer success through web traffic
In 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.
- Source: Econsultancy
- Sample: The survey was fielded in March 2017 and targeted 322 professionals working across the fashion, beauty and luxury sectors
- Recommended resources: Influencer Outreach Guide