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As more brands jump into an influencer marketing industry that reached about $570 million on Instagram alone in 2016, according to eMarketer, new studies are measuring how effective (or ineffective) such campaigns can be.
Collective Bias, which focuses on influencer marketing and shopping, has released a study in partnership with Inmar on social content and how affects in-store sales.
The report analyzed 450 influencers and 11 campaigns across five major consumer-packaged-goods categories to see how effective those influencers were at driving actual sales. The research acknowledges the potential reasons for varying performance such as seasonality, price, budget and purchase frequency, but across the categories, influencer content was found to outperform control groups.
The company looked at influencer content that included promotions or coupons to determine its affect on redemption rates and sales.