Marketing consists of achieving a series of collaborative links between brands or companies and those people with great visibility and prominence on the internet, that is, the influencers that we all know today.
In this article we offer a solution, in the form of a tool, for all those people who do not know how to attribute sales to such collaborations. With this solution you will be able to identify which profiles are the ones that generate the most conversions for a brand and have control to be able to optimize decisions in an influencer marketing campaign.
Techniques already existed, although not very precise or reliable, such as the use of or discount codes to measure the performance of collaborations.
But since there was no tool to solve this lack, a team of entrepreneurs from near Barcelona (Maresme) launched Vendfy. A tool that, as the creators told us, is aimed at people who carry out Influencer Marketing campaigns and want to know the ROI of each action.
A) Yes, focuses its focus on the lower part of the conversion funnel, with data that covers a post-campaign phase, away from non-representative data such as likes, comments or views.
What does Vendfy offer?
This tool was born with the idea of becoming the first platform specialized in Influencer Marketing Conversion Analytics, with which to do track ROI and campaign revenue in real time. For example, if you have hired an Influencer, you will be able to measure their turnover and decide whether to collaborate again in the future.
Thus, Vendfy offers a solution so that professionals who use influencer marketing strategies can stop going “blind” and have all the campaign metrics in a dashboard at the level of Facebook Ads Manager.
In addition, Vendfy not only helps brands and agencies, but it is also very useful for content creators, since they can see, in real time, what is happening with the content of their interactions and see the result of these translated into sales. .
micro influencers
Campaigns with micro-influencers are gaining weight and are sometimes more successful than those that employ famous influencers, as their followers feel closer to them. Professionals who use this tool and carry out this type of campaign also use it to check among several micro-influencers in a region which ones best suit their audience by calculating ROIS (Return on Influencer Spend). They hire them for sales commissions and they test which of their signings best match the brand’s audience.
For example, some of the brands that use it have proposed to their best clients if they want to act as influencers using their different digital channels. Others have decided to replicate successful campaigns with different influencers to find out exactly who sells and who doesn’t.
As they explain to us from Vendfy, one of his clients,ran a campaign with various profiles of all types. They had from 10K to 400K. The surprise is that smaller profiles with a fairly high, made more sales than profiles with many followers but much less vendors”.
Competitive advantage and challenges of Vendfy
We talked to Eduard García, CEO of Vendfy, and he explained that «The main advantage of Vendfy is to clearly offer the return in metrics of the lower area of each collaboration of the influencer in any digital medium. This fact allows us to know conversion rate (CR), to the average ticket generated by a collaboration with an influencer, and the Return on Influencer Spend (ROIS). Which answers a key question for us: with which partner will I repeat in the next campaign?».
On the challenges facing the company this year, he added: «After a year in the very initial phase validating insights with different brands to build the product and validate product-market fit, the goal for 2021 is to grow together with the market, offering a tool that becomes a must for any marketing area».
In short, influencers are the new very powerful advertising channels for brands. It is evident that many of these profiles have a power and a magnetism that many media outlets that have been investing for years and years to have an audience that often does not even come close to that of the influencer would like. To address this market and help in its professionalization, the Vendfy team launches this new measurement tool.
As they explain to us, «If influencers are the new digital advertising channels, why not create a tool that makes the market much more professional than it was with the old mass media and their (GRPs, OTS, etc.). The mass media are in luck because thanks to the same technology, they will be able to measure the sales they generate to the brands that connect to Vendfy and carry out their campaigns through them«.
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