The research, from HypeAuditor, indicates that a third of marketers are unaware of the influencers their competitors are working with, as a result, they are unable to compete on social media.
The analysis from HypeAuditor shows that despite the colossal brand loyalty and budgets associated with global legacy sports companies, brands such as Adidas have failed to compete with Gymshark and MyProtein, two home-grown ecommerce success stories. These pureplay British brands have led the pack in running more effective and efficient influencer marketing campaigns from October – December 2020.
The data from HypeAuditor shows that Gymshark’s strong performance is due to the brand achieving 4.36% average engagement rate for the quarter, an average cost of £0.11 per engagement and 167 sponsored and likely sponsored posts from 28 influencers such as @Mattdoesfittness, @Rossedgley and @Oliviajarviss, earning Gymshark a media value equivalent of over £240,000.
HypeAuditor’s newly launched Competitor Grid tool, available from today, gives users full access to analytics on how competitor brand’s influencer marketing campaigns are performing, including a close analysis of the following criteria:
• Engagement Rate
• Audience Quality
• Influencer Quality
• Cost per Engagement
HypeAuditor created this new tool based on demand from marketers, as highlighted in research conducted in January 2021*, which found that 1 in 3 marketers (31%) are unaware of the influencers their competitors are working with, whilst almost half (45%) do not know the audiences their competitors are targeting through influencer marketing and 87% find it helpful to get a list of Instagram posts with competitors’ mentions.
HypeAuditor’s Competitor Grid gives marketers the ability to easily analyse the performance of competitors influencer marketing campaigns. Arming them with important information, such as the full list of influencers they work with, analysis of the creatives used, and amount spent per post on a campaign. HypeAuditor’s aim is to help marketers make more strategic decisions for their brand’s influencer marketing activity.
HypeAuditor’s Competitor Grid analysed the performance of leading gym and fitness brands in the UK, the key findings are below:
“As influencer marketing matures, brands are reevaluating how they work with influencers. 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.” claims Alex Frolov, CEO of HypeAuditor. “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 four industries (Beauty, Fashion, Fitness and Gym, Luxury) across five countries (US, UK, Australia, Germany, France). More industries and countries will be added at a later date.