You have found the right influencers for your brand campaign, whether you manually discover them, by reference, or even by signing up for an influencer marketing platform. You have found the influencer of your niche, discussed your campaign requirement, and are all set to go. But wait, “How does one measure Influencer Marketing Success?” It all goes down to your definition of success. Every brand has its own goals, requirements and wants a different outcome from holding a brand campaign.
Here’s how you can measure the success of influencer marketing with no effort at all.
#Decide upon your goals: Finding the right influencer is the biggest hurdle for every influencer marketing campaign itself. The right influencer is the one that matches your niche. Besides, finding the right influencer, you should also have other goals to measure your campaign’s success. While choosing an influencer, look for these parameters:
● Direct Sales
● Website Traffic
● Social Media Mentions
● Post engagement
● Social Media following increase
These are the parameters by which you will easily be able to determine or rather measure your campaign success. This will make your campaign goal clear.
#Follow up the engagement rate: The sole reason you are collaborating with influencers is because of their engagement rates. Influencers already have a well established online presence of your brand’s target audience where they have a close-knit relationship with their audience. This is why collaboration with influencers for your brand will result in a high return. To measure influencer marketing success ensures that the influencers can reach the target audience and that the sponsored posts they curate have a high engagement. You can also observe any change in your follower count as you will be able to determine the influencer marketing success if there is a sudden increase in your follower count. After all these followers could ultimately be your potential customers!
#Coversion rates: This is the best way for you to measure your influencer marketing success. A conversion rate refers to the percentage of visitors to your website that complete a desired goal. Your conversion could be anything, be it, email subscriptions or free trial sign-ups. You can also determine whether this conversion came from your influencer marketing campaign by either using UTM Tags or by Creating a landing page.
#Influencer Follower Count: Influencers can indeed make your brand page have a high follower count but these new followers don’t need to be actual individuals. They could be bots as well. Now, this can be a decent parameter as it could indicate the approximate number of people that the sponsored post can reach.
#Website Traffic: This is an accurate way for you to measure your influencer marketing success. You can track the number of visitors who viewed your website by the link attached to the influencer’s profile or account. Higher traffic means your influencer marketing was a success.
#Alternatives: If you already decided upon your goals and chose a strategy to follow but at a later stage you realise that the strategy is not working really well. Then you can always change your goals. It’s not necessary that the same strategy will work every time. Have a set of alternatives with you so that you can accurately compare between two strategies and realize where you were going wrong in the first place.
#Change your influencers: Sometimes you may not get your desired outcome from a campaign. Now the reason for this could be so many aspects. Such as your goal is unrealistic or your strategy was not right. Although sometimes your goals and strategies are not the problems. The problem is the influencers that you collaborated with. Try changing influencers to see if the new influencer is able to achieve your desired goals. It will be the quickest way for you to determine whether you made the right decision of choosing an influencer. There are many influencers out there but are you sure that you chose the right one for your brand? Besides by changing influencers who knows you may get extra attention because of a change in your content and people will be curious to check out the posts or visit your website.
Now while the above means are an integral path for you to measure influencer marketing success but those methods are not enough. If you want to deeply analyse your campaign success then just focus on these 3 KPI’s that will give you a critical analysis of your influencer marketing success.
1. Site Traffic: Right above you have read about the website traffic. So you know that higher traffic means a successful campaign. Although, how does one keep track of the traffic on the website? As an influencer one has to curate content that makes the audience curious to check out the website. Now let’s say that the influencer put a cool call to action button stating that if you answer a quiz on the website and win, you get free tickets for Shawn Mendes concert. Now with this cool call to action button, anyone would be motivated to click on the website link, share the link and hence building traffic to your company’s website. You can track the site traffic by either using Google Analytics or Shopify Analytics which will alert you of any sudden hike in the number of visitors and the best part of these analytic tools is that you would know from which region you are getting the maximum visitor which will therefore determine your prospective customers.
2. Email Entries: Email campaigns have become an essential part of influencer marketing. Especially in India, Zomato seems to have brought their A-game to email campaigns. You must have received these flashy newsletters from various companies alerting you of new products or discounts. The point is that many brands forget that you should have a track of the email sign-ups. You can keep a track of them by simply counting the number of subscribers before and after the influencer content is posted.
3. Measure Tags and Mentions on Social Media: Engagement is good and many brands forget this aspect when it comes to measuring their campaign success. Especially when it’s concerned with engagement campaigns, it becomes essential for you to keep a track of these tags and mentions on social media. You can keep a record of the number of tags or mentions before and after the influencer content to determine whether there was good engagement.
Final Thoughts: The above methods and these 3 KPI’s will surely help you to measure your influencer marketing success. Remember that each influencer is unique and have their own specialties. Just because they didn’t bring your expected results doesn’t mean that they are not efficient. It simply means you might have chosen the wrong influencer that is not of your niche.