You know by now how influencers can be a key asset to your campaign or brand. Since every good marketing campaign is geared towards sales and more sales, there is a need to track the effectiveness of influencers. This is not an easy task as you might have found out by now, especially when you don’t know how to go about it or the right tools to use.
Check out our 15 ways to find influencers and measure their effectiveness.
Brand awareness. Is your campaign goal geared towards brand awareness? Then the most important metric to consider is impressions. Impressions tell you how many people viewed a piece of content. The more people you can reach, the better it is for brand awareness and exposure. Getting access to impressions is different for each social media or digital channel and because they are private metrics. You will need to rely on influencers sending you the data post campaign.
Brand Engagement. If you are geared towards building an engaged community, you should be on the lookout for the total engagements post(s) get. These are the likes, comments, shares, retweets and reactions a piece of content receives. Calculating the number of engagements is relatively easy as the metrics are all public. You just have to add them altogether if you are working with multiple influencers within the one campaign.
Social media growth. Measuring social media growth effectiveness is relatively easy to measure because the data is readily available on your own social platforms. You can see and track the growth of your social media followers over time in most built-in social analytic tools or third-party reporting apps. Your social media analytics will give you a clear understanding of overall trends, or else you would have to do some manual reporting and tracking.
Analyse Each Piece of Content in Real Time. Too many influencer marketing campaigns are stuck using old tactics (and metrics). Having a bunch of influencers showing a product isn’t enough in 2018. New influencer marketing requires real-time analysis of each piece of content followed by targeted syndication of the best pieces.
Compare Performance and Exposure to Other Marketing Investments. Tracking is gold. Be sure to track wherever possible: custom links, landing pages, influencer promo codes, giveaways, anything you can. Consider an influencer marketing campaign’s performance against your other marketing strategies.
Website traffic. When website traffic is the goal, Google Analytics should be set up to track metrics such as new users, sessions, page views, time on site and referral partners for a specific date range. If Google Analytics is already set up, you will have historical data to compare to, which is excellent for measuring an increase in traffic over a couple of weeks, months or a year.
Sales. If the strategy involves an affiliate marketing component or discount code, it is effortless to access the effectiveness of the influencer campaign, as consumers will use a unique code to purchase. Where no affiliate link or discount code is involved, you can still measure an increase in sales by looking at your total monthly revenue and trends that occur over time. Google Analytics eCommerce tracking can give you the data you want.
Use Coupon Codes. With all the talk of impressions, clicks and brand awareness, it’s still important to get specific attribution to what worked for a specific sale. That’s why giving a coupon code – and tracking which influencer gets which sales – still matters, even though it’s simple.
Host A Live Experience to See Social Amplification in Real Time. A live experience is the ultimate influencer ecosystem. Getting like-minded people together who have a passion for a particular subject matter creates an environment for influencing, whether it is on comics, cars or causes.
Share Influencer Content on Your Own Ad Platforms. Do not only consider the ROI directly correlated to the influencer’s post. You may generate far more revenue from using their content on other ad platforms and reaching a new audience.
Downloads of an e-product. If downloading an e-product, such as an app, eBook or template, is your goal, you’ll need access to the hosting provider so you can see how many times the product has been downloaded. You can also set up UTM tracking links for another reliable way to measure and track downloads.
Database growth. Likewise, if you aim to grow your email database, you’ll need to have access to the Email Marketing Platform that is used to collect the data and run your email marketing campaigns. Access to this platform will likely have in-built reporting metrics, where you can measure and track database growth and also identify engaged users.
Content creation. This campaign goal cannot typically be tracked digitally, as it requires a manual count of the amount of content that has been created or received during the campaign period. You will have to look at the content that has been provided and assign a dollar value to each piece. This will help you calculate the ROI and the value that was received during the campaign.
Reach new target markets. Audience data is a new metric that can be very insightful but is not readily available. Some third-party reporting tools are starting to analyse audience data to understand who followers are, their interests and demographics.
Track Brand Mentions. Lastly, you have to measure how well your campaign performed overall. This could be done by tracking brand mentions. You can do this by using a brand monitoring tool that tracks and notifies you whenever your brand name is mentioned.