Calculating Returns on Influencer Marketing
According to an eMarketer report, spending on influencer marketing in the U.S. will reach 33.6% from $2.76 billion in 2020 to $3.69 billion in 2021.
Search Engine Journal contributor Greg Jarboe has published an article highlighting some ways to calculate the ROI of influencer marketing campaigns.
He says, “Influencer marketing is big business. But how do you know whether your campaigns are delivering results?
Like all forms of digital, influencer marketing must be measurable and have a demonstrable ROI to work as a viable marketing tactic.
Some influencer marketing gurus challenge the very idea of measuring ROI as antiquated, similar to asking the ROI of having telephones in the office.
But influencer marketing won’t be taken seriously by Chief Financial Officers (CFOs) as long as Chief Marketing Officers (CMOs) dodge the question.
In this column, you’ll learn about the challenges in calculating influencer marketing ROI, as well as a formula for calculating Return on Marketing Investment (ROMI). Let’s get started.”
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