Want to know how to measure your influencer marketing campaign ROI? you need a solid understanding of what goals you want to achieve. An influencer marketing campaign should have a clear goal that is ideally specific and measurable. To start, you need to know what you want to achieve before knowing what your goals are. You also need to look at how successful an influencer is based on their engagement. They should be following the brands they are promoting and respond in a timely manner to customer queries. This is in addition to posting about their product or brand consistently on social media. The engagements must be on the platforms that are relevant to your target audience, so their message reaches people who would be interested in their services or products. If you’re struggling with figuring out if your influencer marketing program has been successful, read this article and discover how.
Firstly, you need a solid understanding of what goals you want to achieve. An influencer marketing campaign should have a clear goal that is ideally specific and measurable. To start, you need to know what you want to achieve before knowing what your goals are.
You can identify three types of goals for an influencer marketing campaign:
- Increasing brand awareness
- Driving sales for your business
- Achieving other specific objectives (increase in website traffic, raising brand’s social media engagement)
The goal of an influencer marketing campaign is to drive desirable actions and results.
Influencer marketing is a great way to drive brand awareness, traffic, and sales. Branded content has the power to engage consumers in a less interruptive, more organic way than traditional advertising does.
In turn, influencers drive sales by creating content that’s in line with the brand’s messaging and goals. They make it easier for brands to reach niche or untapped audiences that are most likely to buy their products or services. In addition, they build relationships between brands and their customers via social media channels like Instagram and YouTube.
There are various ways that you can track your influencer marketing campaign ROI.
- Tracking referral traffic to your site. This tracks how much traffic is coming in from the influencer marketing campaign you’re running, which is important because you need to see how many people are visiting your website as a result of the campaign being active. You should use Google Analytics or another analytics software to do this tracking so that it’s accurate—these programs will show you how many visitors came to your website through the link posted by an influencer. If they see that the number of visitors coming from those links is high, they know that the campaign must be doing well and working as intended.
- Tracking social engagement. The other way you can track performance is through social engagement, which means seeing how many likes, comments, and shares a post gets. There are different tools for this depending on what platform it’s for: for Twitter, there’s Tweepsmap; for Instagram, there’s SocialBlade; and on Facebook, there’s Post Planner. These products allow people who create content to get help from Influencers Marketing Agencies like ours at TIMA or even just regular individuals whose posts have been getting more likes/comments/shares than others so they know whether certain types of posts work better than others do when it comes time for them to make future content again!
Look beyond vanity metrics and measure what matters.
Does your influencer marketing campaign have a low ROI? The solution may lie in measuring the right things.
Far too often, marketers focus on vanity metrics like impressions and follower growth. These measures are great for showing how much your brand is being talked about. However, they don’t reveal anything about whether people are actually taking action after learning about your brand through an influencer.
So instead of focusing on what you can’t control, start measuring what you can control: the results that matter most to your business. This includes measures such as clickthrough rate (CTR), cost per acquisition (CPA), conversion rate, and brand recall. We’ve compiled a list of these metrics to help you gauge the performance of your Influencer Marketing program and determine if it’s making money for you or not.
Analytics platforms can help you measure and analyze your campaigns.
Influentive can help you measure and analyze your campaign. It is an AI-powered content discovery engine that helps marketers discover the right content at the right time for any audience segment – regardless of size or niche. Use it to target relevant influencers based on specific brand metrics like reach and engagement rates, find new audiences with similar interests through social listening, coordinate actionable insights from multiple data sources in one dashboard, and automate tedious tasks such as competitor tracking and audience analysis.
Metrics like KPIs and ROI should be measurable and realistic enough to be tracked.
Metrics like KPIs and ROI should be measurable and realistic enough to be tracked.
A good KPI is specific, measurable, achievable, realistic, and time-bound (SMART). These metrics are a way for brands to ensure that their campaigns are successful. While there is no one size fits all solution for measuring influencer marketing campaign ROI. However, there are a few things you can do to measure your influencer marketing campaign ROI.
One of the most basic metrics you can use is impressions. This metric tells you how many people were exposed to your content across all channels where it was shared. While impressions may not always lead to engagement or sales, they’re an important foundational metric that shows how many people saw your content at all during a campaign.
Overall, if you want to avoid the hassle of measuring your influencer marketing campaign metrics yourself, you can enlist the help of an agency to do that for you. Most Influencer marketing agencies in Nigeria don’t yet have a structured approach to campaign management.
If you want to work with a marketing agency that is your one-stop influencer marketing hub, check out TIMA here. TIMA partners with creators to help brands get the best out of influencer marketing, with TIMA every penny spent is worth it. Reach out now, and start getting your message across to the right audience.
