Home-grown brands Chemist Warehouse, Priceline Australia and Bondi Sands lead the pack when it comes to effective and efficient Instagram influencer marketing campaigns, ahead of global counterparts including Sephora, according to new competitor analysis from AI analytics brand, HypeAuditor.
The analysis reviewed influencer marketing campaigns that were live from October to December 2020.
Chemist Warehouse achieved 1.51% average engagement rate for the quarter, an average cost of $0.32 per engagement and sponsored posts from more than 60 influencers including Sophie Monk and Jules Robinson, earning the retailer a media value equivalent of over $70,000.
The analysis coincides with the launch of HypeAuditor’s Competitor Grid tool that gives users full access to analytics on how competitor brand’s influencer marketing campaigns are performing based on the following criteria: engagement rate, audience quality, influencer quality, cost per engagement and reach.
The new tool was developed based on demand from marketers, as highlighted in research which found that almost one in three (31%) marketers are unaware of the influencers their competitors are working with, while almost half (45%) do not know the audiences their competitors are targeting and 87% find it helpful to get a list of Instagram posts with competitors’ mentions.
As influencer marketing matures, brands are reevaluating how they work with influencers, according to HypeAuditor CEO, Alex Frolov.
“Instead of one-off deals with hundreds of influencers, all using the same copy, marketers and agencies are now looking for more long-term, authentic partnerships that give influencers more creative control.
“To do this effectively, they need data that they can rely on when developing influencer marketing campaigns. Our new Competitor Grid answers these new needs and helps marketers make the right decisions when looking at implementing an influencer marketing strategy, based on valuable information gathered about competitors’ strategies.”
Competitive Landscape is currently available to analyse Beauty, Fashion, Fitness and Gym, and Luxury industries across the US, UK, Australia, Germany and France, with more industries and countries added at a later date.