Influencer campaigns are one of the most effective marketing tools for e-commerce businesses. But do you really know the best ways to maximize their effectiveness?
When it comes to influencer campaigns, measuring your KPIs (or Key Performance Indicators) is an essential part of any strategy. Successful KPI measuring can have an astronomical impact on your ROI, increasing it as much as 11x.
So the question for digital marketers becomes how to identify important KPIs, and what that information means for their marketing strategy.
Measuring referral traffic is one of the most effective ways to measure the impact of your influencer campaign. You’ll want to know exactly how many people your influencer drives to your website. Direct links and search engine traffic matter, but referral traffic from your influencer is the end goal.
Luckily, Google Analytics makes getting this information easy by allowing you to create custom reports for influencer campaigns.
Sentiment is one of two important KPIs related to brand awareness. It refers to the tone in which people talk about your products and services. Are they singing your praises? Or trashing you on Yelp? Either way, you’ll want to know about it.
Focus on measuring your positive and negative mentions in ratios. The higher your positive ratio, the better your influencer is at endearing your brand to their audience.
The other aspect of brand awareness you’ll want to monitor is frequency; or more specifically, the frequency that people mention your brand. You can determine this frequency by finding the average number of times a person comes in contact with your brand over a given time period.
By measuring current content views and comparing them each month, you can reveal if your influencer’s content is reaching enough people within your specific niche to have a meaningful impact.
Engagement Rate Per Influencer Post
Engagement rate refers to the number of people who liked, clicked, or commented on your post, divided by the number of people who saw the post. Each time your influencer posts on your behalf, you’ll want to calculate the engagement rate and compare it with previous posts to judge the campaign’s momentum.
An influencer specific way to calculate your engagement rate is taking the number of people who engaged with a post and dividing it by the influencer’s total number of followers. This tells you whether or not your content is connecting effectively with the influencer’s audience.
KPIs can refer to almost any data pertaining to an influencer campaign. This makes knowing the proper KPIs to measure crucial to determining the actual success of your influencer campaign. Information is useless without context, so stick to the stats that matter.
You need to know how much traffic your influencer drives, whether they’re endearing people toward your brand, how often they mention you, and what portion of your total audience their following represents.
Keep this information in mind and you’ll have all the reliable marketing data you need to evaluate the success of your influencer campaigns.