It is rare to see campaigns these days that don’t in some way include influencer marketing. And why wouldn’t they? They tap into someone else’s audience to spotlight a product or service, to increase awareness of the product or brand, raise sales and move the needle for the business. Yet influencer marketing for many years has solely been an art rather than backed by hard science. Reliant on correlation rather than causation to try and demonstrate ROI.
But that has now changed with Ketchum Analytics, powered by omniearnedID – a patent-pending insights-driven tool fueled by a robust data engine that helps identify the right influencers for clients’ campaigns, predict their impact on sales, and then prove it.
And that’s exactly what it did for our client the American Egg Board.
When they came to us to inspire new ideas for cooking and baking with eggs during Easter, one of the biggest holiday seasons of the year for egg sales at retail, we created The Incredible Egg Challenge – a virtual competition among select food influencers who invited consumers to vote weekly on egg-based creations and share their own.
Ketchum Analytics used omniearnedID to evaluate and validate different food influencers based on a range of attributes – including interests, size of following, engagement with their content, and even followers’ recent egg purchases, showing us which ones were most likely to drive sales.
The system even helped us rule out a top celebrity who it determined lacked the potential to impact sales since her followers purchase eggs less frequently.
Four foodie, crafting and entertainment influencers were ultimately selected, sharing their favorite “eggs-pirations” – from marvelous meringues to breakfast boards and tablescapes.
And when it was done, Ketchum was able to prove the impact of selecting the right influencers, attributing a 7% increase in egg purchases to the consumers who engaged with our influencers’ content, and bringing 186,000 new buyers into the category – and spending only 40% of the cost for the celebrity influencer not selected.
Every dollar spent delivered $3.33 in sales – a 233% R.O.I. We call that Return on Influence.