Social Soup has become the first influencer marketing agency in Australia to offer an in-store sales attribution metric of its campaigns through a partnership with data analytics company Quantium.
The deal aims to provide greater clarity on how social influencers can impact sales.
Quantium will anonymously match aggregated sales data to the behaviour of Social Soup influencers to measure the impact over a period of time.
“This new methodology means we can reliably track the behaviour of our social influencers and how that translates to driving sales in store,” says Social Soup CEO Sharyn Smith.
“Social Soup is committed to ensuring accountability and measurement for our clients and we will shortly be announcing new technology to execute and manage our campaigns through an app.”
With spending on influencer marketing continuing to rise, the effective measurement metric is becoming increasingly important. Earlier this year, Hypetap released an algorithm that measures Instagram influence and most agencies provide sales metrics, however this is the first deal that merges online and offline data.
Quantium, owned 50% by Woolworths, is a big player in the data space, working with about 200 Australia businesses, including Ooh!Media, News Corp and Facebook. It derives anonymous data from retail transactions from NAB, property info from CoreLogic, subscription TV viewer habits via Foxtel and Woolworths’ supermarket loyalty information.
Quantium senior leader of media Lawrence Puang adds: “We are excited to be partnering with Social Soup in delivering yet another measurement solution which helps advertisers understand how their marketing investment is driving an impact on in store sales.”
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