Traackr’s new tool aims to arm marketers faced with influencer budget cuts with data.
The influencer marketing platform has been preparing a Budget Optimization tool over the past few months, and accelerated its launch as the coronavirus began impacting marketing spend. The new tool is meant to give marketers suggested fees for influencers based on past performance, help marketers avoid inflated agency fees by streamlining the payment process and track program spend over time across markets, brands, campaigns and influencer tiers.
“A few months ago, we started letting our users capture some first-party data around cost. What this new tool is doing now is processing that data and marrying it with social engagement information,” said Pierre-Loïc Assayag, chief executive officer and cofounder of Traackr. “We’re able to tell on any given paid campaign or ongoing engagement with an influencer how much every engagement, repost really cost you, and start comparing that information across campaigns, across influencers, at the program level.”
Prior to COVID-19, influencer marketing was projected to be a $15 billion industry by 2022. Already, influencers are feeling the effects of the coronavirus on their bottom lines, with Attain reporting that influencers are losing 33 percent of their income to the pandemic.
“Over the past few weeks, we went from a handful of customers to all of our customers becoming interested in [influencer marketing] data because they’re getting challenged on their budget,” Assayag said. “If marketing budget’s getting cut 50 percent across the board, which 50 percent should you cut when it comes to influencer marketing and how? If you don’t have this depth of insights and data, you’re unable to make that determination.”
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