TapInfluence Finds Success with Influencer Marketing
TapInfluence is a complete SaaS platform that utilizes engaged influencer marketplaces and strategic services to help create conversations between consumers and brands. The company encourages Fortune 1000 brands to embrace digital influencers and their power, thus using their popular, trusted voices to the brand’s advantage. Some of TapInfluence’s Fortune 1000 customers include Kraft, Horizon Organic, Silk and P&G, as well as top agencies like Golin, RhythmONE and AMP. Due to TapInfluence’s influencer marketing automation platform, all of these companies are able to increase market share and increase revenue growth through scalable reach and optimized engagement to achieve exceptional ROI.
If this sounds like a successful business to you, you’re right. TapInfluence announced yesterday that it has surpassed $1 million in monthly payouts to influencers in its marketplace for their work helping Fortune 1000 brands get noticed by customers all over the Web. This impressive number goes to show the value of having a high volume of influencer marketing campaigns being run by the SaaS platform each month. The more successful influencer campaigns, the more insight gained into Cost Per Engagement (CPE).
Based on the platform’s findings, the top five verticals investing in influencer marketing campaigns have been noted as CPG, food, fashion, technology and travel. For CPG, the most popular channels are blogs, Pinterest and Facebook; Food’s popular channels are blogs, Instagram and Pinterest; Fashion’s are Instagram, YouTube and blogs; Technology’s are blogs, YouTube and Twitter; and travel’s most popular channels are Instagram, blogs and Facebook.
The popularity of these channels is marked by engagement. TapInfluence does not include passive actions, like watching a video, in its data. Instead, active responses such as a like, comment, share, download or click are counted as engagements.
Promise Phelon, CEO of TapInfluence, comments on the importance of influencers to marketing and the benefits of benchmarking CPE by saying, “The days of buying celebrity endorsements across social channels are quickly coming to an end. Reach and views are merely indicators of awareness, their true business impact is insignificant. Influencer marketing has evolved and the rise of micro-influencers means that brands can now truly understand the value of their influencer marketing activities down to the CPE level.” She continued on to say, “By benchmarking CPE for the industry, we’re helping marketers become more sophisticated as they continue to move budget from traditional advertising to influencer marketing. These are marketers who demand to know what they’ll get before they invest tens of thousands of dollars in any campaign, and TapInfluence is uniquely capable of providing that level of reliability, transparency and value.”
Tracking CPE is beneficial because engagement directly correlates to sales. With less celebrity content being used as brand awareness, and the number of influencer marketing campaigns increasing, it is essential for advertisers to master influencer marketing. In order to master this skill, marketers have to realize that all verticals have different CPE ranges. For example, the verticals with the highest CPEs are: pets, automotive and sports and entertainment. Meanwhile, the verticals with the lowest CPEs include fashion, food and recipe and crafts. If you think about it, these trends make sense because CPEs are depend on: influencer rates, saturation of influencers in a given category and engagement trends by vertical (i.e. is something particularly engaging like a Pin of a hairstyle). If marketers can learn these trends and understand CPEs and verticals, they will be all set to run a successful influencer marketing campaign.
Edited by Stefania Viscusi