Data analytics company Lumio is introducing a new way to guage the worth of an influencer.
According to Lumio, only 40 per cent of an influencer's Instagram following is valuable to a business on average.
Lumio's technology will measure up an influencer's account by the quality of engagement versus their overall follower count.
The Lumio Quality Score will then determine which influencers are more valuable than others based on their statistics.
Lumio isn't the first company to use data to implement an influencer scoring system; Fanbytes and Influential both utilise similar tech.
The right influence
"We all know that the right influencers at the right time can 'make' a product or business," says Lumio co-founder Jack Alpe. "The problem is not all Influencers are created equal."
"Some Influencers have built a real following organically over time, others have bought their way to the top – and the difference only really becomes apparent after you do a campaign with them, which can be both disappointing and costly," Lumio co-founder Dan Anisse added.
"We became fascinated by the inconsistency of the Influencer market and the lack of really sophisticated predictive metrics and data. We were trying to work out how and why some campaigns were working and others weren't."