Aspire Impact Dashboards

Impact Value in Aspire

WHAT IS ASPIRE?

Aspire is an Influencer marketing platform focusing on SMB brands and helping their collaboration, management, and evaluation move from spreadsheets or disparate marketing apps, into a single platform for all their Influencer Marketing efforts.

Aspire core functionality for brands includes a CRM, Projects to manage workflow, Sending Products, Sales Tracking, and an Analytics suite. For creators, Aspire offers a marketplace to find campaigns to apply to and a creator portal to organize any tasks and communication needed between the brand and the creator to facilitate making social posts.

 

SITUATION & PROBLEM

With the downturn in the economy in mid 2022, Aspire brands needed to prove the value of influencer marketing to their teams in as many ways as possible.

Much of the industry attempts to do this using various ROI formulas, which can be complicated to calculate and even more so to explain. The other issue with simply using ROI is it’s based entirely on sales, which is only one benefit our brands gain from influencer marketing programs.

Our task was to create a way to showcase not only the value of sales, but also the value they get from re-useable content assets for other marketing efforts, and the value of awareness and engagement on the social posts these assets come from. With this effort we set a business goal of helping our brands reach a positive a ROI of 20% to 60%.

 

ACTION PLAN

Having already launched a couple of simple widgets to the homepage of the product, we’d already begun to learn how our users felt about the metrics shown on there. Adding that to what we had already learned in the past about their uses of our Social and Sales metrics, we had a hunch that leaning deeper into Total Media Value metrics (Awareness and Engagement values), ROI metrics, and showing the value they gain from content assets would be a good place to start.

Working with my internal team we began formulating a new ROI metric. We knew it had to be easy to explain, show numerical value for all their influencer marketing efforts, and provide them the ability to view these calculations easily and potentially edit the way it’s calculated in the long run. As bonus points, we wanted to create a recommendation system on how to improve those metrics to help our SMBs learn how to improve their impact.

 

SOLUTION
  • Break up key metrics into 4 categories for evaluation to show monetary values for Awareness, Engagement, Sales and Content.
  • Use those values to calculate a new aggregate “ROI” value. I came up with the name “Impact Value”.
  • Create a new area where we can surface advice based on metrics, system setup status, and when a user has no data yet.
  • We’d use the current homepage area to surface a new performance Impact area that summarizes key metrics and highlights those new 4 areas of valuation.
  • As I ideated on the above area, it felt like we were trying to put too much on a homepage (which would make it hard to digest), and the need for a deeper analysis page seemed necessary. This led to a more in-depth view of the concepts presented on the homepage and allowed the homepage to remain more of a performance snapshot.

 

MY ROLE
  • Worked with PM, Eng Managers, team leads and other cross-department team members to discover the most impactful route for our brands to see and digest this data.
  • Conduct research and user feedback sessions and summarize incites and relay internally
  • Ideations, wireframing, and high fidelity design of feature
  • Requirement documentation/tickets for development
  • Created a new system of color coding the 5 areas of impact.
  • Worked with Client Service, Strategy, and Manage Services teams to determine the monetary values for each of the four pillars of evaluation.

RESULTS

KEY STATS
  • It’s early, as it was just launched in late December 2022, and ROI impact will be updated as our brands to more, but stats are showing above 20% of our brands have positive ROI.
  • About 60% where seeing a positive Impact Value number.
    • Of those the median was about a 10.7x Impact Value score.
    • We hope that showing these values more prominently to our brands will provide them a better baseline of seeing their efforts improved.

SCREENS