Influencer marketing has evolved from being a mere word-of-mouth advertising to becoming a crucial strategy in the digital marketing landscape. With growing influencers on different social media platforms such as Instagram, Facebook, Snapchat, blogs and social channels, marketers and brands who want to grow their businesses are increasingly taking advantage of this tool.
However, measuring the KPIs (Key Performance Indicators) is crucial to understanding the results of your influencer marketing campaign. Depending upon your strategy, different KPIs will serve different purposes. Below are some of the important KPIs that will help you to track the progress of your campaign and measure its success corresponding to your goals:
1. Brand Awareness
Brand awareness has a significant role to play within all facets of marketing. It is one of the major goals for most brands or businesses. Influencers have enormous followers that can maximize the visibility of your brand, which is important for boosting brand awareness and building new partnerships. To determine the success of this goal, you have to track the overall reach of your campaign. By tracking impression data on your posts such as social posts, blog posts, etc. you can get a hold of the campaign’s reach. You can get this information through social media analytics, your influencer’s personal site, and through your own Google analytics.
According to the best influencer marketing agencies, engagement is a great way to understand the overall sentiment of a campaign. It tells how your brand is being received, how relevant you are, how strong your relationship with your audience is, and how loyal your consumers will be. Few engagement parameters include:
- Video views
- Brand mentions
This will help you to identify how an influencer’s audience engages and resonates with your content.
Influencer marketing has multiple goals such as increasing campaign reach, audience growth, driving engagement, and increasing traffic to a website. However, the chief goal is always to drive sales and increase profits. This is where conversions come into picture. One simple way to track conversions produced by the campaign is to track sales before, during, and after the campaign, and compare the changes in sales that occur when the campaign was running. You can also set up affiliate links, promo codes, landing pages. and UTM parameters and link tracking for the campaign. In this way, you can track the traffic sources of the customers who converted during the campaign.
Influencer marketing strikes a perfect chord with the audience. The only way to determine the result of any campaign is by monitoring the right metrics. Fortunately, some of the top influencer outreach agencies can not only help you to find the right influencers for your campaign, but they can also guide you towards creating success stories.