Last week, we published a post on influencer cost per engagement (CPE) and how marketers can use it to measure the effectiveness of the strategy. However, CPE isn’t just for marketers—it can also be leveraged as an asset for influencers.
With that in mind, this article breaks down the benefits of CPE for influencers and explains why you (as well as the rest of the marketing community) should know your worth.
The Proof Is In
CPE matters for influencers as well as marketers because successful influencer marketing is not about reach; it’s about an engaged audience and CPE helps drive that point home with marketers.
Today, we announced that the monthly volume of influencer payments processed via the TapInfluence SaaS platform has surpassed the $1M mark. Furthermore, the average campaign engages 21 influencers for a spend of $5,500.
This volume of activity enables unprecedented insight into influencer Cost Per Engagement. The ability to measure CPE, especially when there are positive results, is not only beneficial to marketing ROI, but it also shows just how necessary and influential influencers are to brand strategy.
Our CEO on CPE
Promise Phelon’s definition of engagement measurement is pretty succinct:Â
“The days of buying celebrity endorsements across social channels are quickly coming to an end. Reach and views are merely indicators of awareness; their true business impact is insignificant. Influencer marketing has evolved and the rise of micro-influencers means that brands can now truly understand the value of their influencer marketing activities down to the CPE level.”
Relatable influencers are a powerhouse in marketing now, far more so than celebrity endorsers. Today’s influencers are accessible and knowledgeable in their industry, which allows them to earn a following of everyday consumers just like them. This creates a community brands cannot create by themselves. Influencers should embrace this and know that they help make businesses thrive.
If you are influencer who is interested in joining the influence economy, become a member of the TapExchange influencer marketplace today.
