How to calculate influencer ROI? Over half of brands no longer invest in influencer marketing due to inability to measure returns

Measuring return on investment (ROI) in influencer marketing remains one of the major challenges for brands and agencies. According to the 8th edition of the study "“ROI & Influência 2025”, conducted by Youpix in partnership with Nielsen, 53% of companies in the market report difficulty in quantifying the ROI of their influencer campaigns.

The survey reveals that this is the primary reason many companies hesitate to increase their investments in this sector. Other barriers highlighted include: proving the influencer's effectiveness (48%), the demand for greater transparency in metrics beyond impressions (43%), strategic planning (19%), and even leadership's disbelief in the effectiveness of the segment (19%). Despite these obstacles, more than half (57%) of respondents intend to increase their influencer marketing budgets in 2025.

For Fabio Gonçalves, Director of Brazilian and North American Talent at Viral Nation and an influencer marketing expert with over ten years of experience, the issue of ROI cannot be viewed simplistically.

“When discussing influencer ROI, we must understand that it goes beyond direct sales. Return can be brand building, genuine audience engagement, conversion into qualified leads, or even influence on purchase intent. The most common mistake is expecting the influencer to be merely a performance channel, when in reality they also operate at the top and middle of the funnel. ROI exists, but it needs to be measured with the right tools and within the objectives set for each campaign. For example, a very important factor in measurement is the trust the influencer brings to the brand; having a person vouching for the product's quality may not always generate a direct sale, but it can lead to a future sale,” he explains.

The professional further emphasizes that each stage of the funnel requires different metrics: “If the brand seeks immediate conversion, it can track ROI through trackable links, coupons, and attributed sales. For awareness campaigns, success metrics might be qualified reach, increase in share of voice, or brand lift. There is no one-size-fits-all formula—ROI in influencer marketing is directly proportional to the alignment of expectations and KPIs defined at the start of the partnership.”

In this scenario, many companies still feel uncertain due to a lack of standardization in the market. But according to Gonçalves, this does not mean results cannot be proven: “What is often lacking is clarity of purpose and consistency in analysis. It's not about proving whether the influencer works or not, but rather identifying if the right creator was chosen for the right objective. ROI is a consequence of a well-executed strategy.”

Fabio explains that it is the duty of influencer agencies to work together with brands to define clear KPIs, create measurement methodologies tailored to each objective, and deliver detailed reports that go beyond superficial impression numbers.

“At Viral Nation, our role is to help brands translate the creator's impact into tangible results, whether in sales, brand equity, or loyalty. Influencer marketing is an investment that delivers returns, but it must be treated with the same strategic seriousness as any other media channel,” he concludes.

METHODOLOGY

The 8th edition of the “ROI & Influência 2025” study, conducted by Youpix in partnership with Nielsen, surveyed 187 professionals from agencies and brands between April 24 and June 30, 2025. The study can be accessed at: https://www.youpix.com.br/pesquisa-roi-2025-download?utm_medium=email&utm_campaign=roi_download&utm_source=RD+Station.