IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx, the premier online marketplace connecting brands and publishers with influential content creators, has announced it is joining forces with IRI to launch InfluenceImpact, a new offering that allows IZEA clients to measure the impact of influencer marketing on retail sales. InfluenceImpact is primarily designed for IZEA’s national consumer packaged goods (CPG) customers and provides them with actionable insights to optimize their influencer marketing spend.
CPG is one of the largest sectors in North America, valued at $2 trillion in annual consumer spend. The sector comprises products used on a daily basis by average consumers. These products require routine replacement or replenishment and include items such as makeup, beverages, food, clothes and household products.
A recent study conducted by IZEA revealed that one in three U.S. millennials who are active in social media indicated that they made a food or beverage purchase after seeing a product promoted by an online influencer. Approximately 46 percent of U.S. females of all ages surveyed indicated the same purchasing behavior for beauty and cosmetics products.
“We already know that influencer marketing can have a meaningful impact on sales for products and services of all types,” commented Ted Murphy, founder and CEO of IZEA. “While it is relatively easy to track and attribute influencer marketing impact for online sales and awareness, it is much more difficult to measure the offline impact at a retailer’s physical location. InfluenceImpact enables us to offer our CPG customers the next level of sales analysis, providing measurement of sales uplift through in-store purchase data. Through our preferred partnership with IRI, we can now track how an influencer marketing campaign impacts sales lift for soda, lipstick, or other mass market packaged good.”
The program utilizes a test and control methodology to help marketers isolate the true effects of their campaigns. IRI, which has been measuring influencer campaigns since 2000 and benchmarked more than 250 campaigns, has found that food and non-food products typically see a very positive return on advertising spend (ROAS) of approximately $2 to $4.
“As influencer marketing continues to grow at an exceptional rate, CPG brands are seeking tools to holistically measure sales impact,” said Nishat Mehta, president of the IRI Media Center of Excellence. “We are excited to team up with IZEA and look forward to providing their customers with enhanced measurement capabilities that ultimately help them determine what is most influential to their consumers in their buying decisions.”
To request a proposal for an InfluenceImpact enabled influencer marketing program, please visit izea.com.