MikMak, a video e-commerce platform that lets consumers shop directly from social media, is launching a new analytics dashboard that is said to be able to track whether digital ads and influencer content really drive sales.
According to Advertising Age, which first reported the initiative, the New York-based firm is collating all its consumer data so that marketers can track which media or influencers perform best, the channels consumers prefer to use when shopping, as well as the inventory status for products at online retailers.
“MikMak’s software works across all digital and social channels so brands can have a unified storefront across channels and retailers,” explained CEO Rachel Tipograph.
“[This] in turn provides brands with standardised measurements and benchmarks across channels and retailers,” she added.
Another important element to MikMak’s offer is that it has a shoppable ad format, which is likely to cut down rates of fake influencer followers, fake likes and other forms of fake engagement.
That’s because any influencer content is linked to what consumers actually fill their shopping carts. As described by Ad Age: “While fake followers can fake clicks, they aren’t likely to buy stuff.”
Therefore, by making the link between influencer content and purchase choices, MikMak could help measure the real impact of influencers beyond audience or click data.
Hershey Company is one of MikMak’s clients – others include Colgate-Palmolive, Procter & Gamble and Unilever – and its chief digital officer, Doug Straton, confirmed that this is resource is one that Hershey will test over the next few months.
But from joint work already carried out, it appears the technology does encourage consumers to add products to carts from online ads at rates similar to when they are already on e-commerce sites.
“We’re seeing add-to-cart rations [from ads] typical of what you’d see at a typical digital commerce retailer,” he said.
Sourced from Advertising Age; additional content by WARC staff