Buzzoole Becomes First Platform to Introduce Nielsen-Powered Metrics to Measure Influencer Marketing ROI
New True Reach Metric Finally Gives Marketers Influencer Campaign Measurement Equivalent to Other Media Types
Buzzoole, the leading influencer marketing platform and service in Europe, announced the launch of Buzzoole True Reach.Buzzoole becomes the first influencer platform to provide information on the true reach of influencers’ posts thanks to its collaboration with Nielsen, market leading global measurement company.
True Reach is based on a proprietary algorithm designed by Nielsen to help brands and agencies understand the true reach of influencer marketing and establish a metric that can for the first time define how many users were actually reached during an influencer marketing campaign.
This new measurement activity – independently developed by Nielsen to create a set of variables – will be implemented by Buzzoole combining a number of key social media performance indicators including (but not limited to) follower base, post frequency and engagement rates with a custom survey that determines the effective readership.
The new True Reach model is able to provide an estimate of how many people an influencer marketing activation actually reaches and enables advertisers to get a more precise estimate of the impact of their campaigns.
The algorithm implemented by Buzzoole in its IT systems establishes a ratio between editorial activity on social media and gross reach (‘opportunities to see’) as determined by the survey results. The variables considered for this activity include:
- Social following: number of followers an influencer has on each social channel
- Effective readership: a visibility metric based on data collected through brand surveys and the number of followers who claim to have seen a message
- Influencer interaction rate: number of interactions on a single post by followers
- Influencer activity: number of posts made per month by the influencer
Data collected through the model is then pushed through Nielsen’s proprietary ad recall index, which illustrates the number of followers who state to have seen a post published by an influencer. This allows brands to create clear ROI metrics for influencer campaigns including true reach, engagement and ad recall. The result is a measurable media buy metric that is clearly reported through the Buzzoole client dashboard.
Having recently launched a new office in the US, Buzzoole finds this metric of influencer measurement crucial for success within the industry.
“It is clear that influencer marketing works, but what has been missing is a Nielsen-powered metric that lets those campaigns stand shoulder to shoulder with more traditional media buys,” says Jenni Morrison, US Country Manager at Buzzoole. “Our new True Reach metric provides detailed information that brands can use to inform campaign spend and effectively measure ROI for the very first time.”
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