This week, The Blogger Programme want to help you with setting KPI's when it comes to campaigns. Influencer marketing is now an integral part of any marketing or communications strategy, but knowing how to measure your success is the key to getting it right. Like any campaign, influencer marketing requires clear objectives for both the brand and influencer in order to create the right kind of content and messaging. Setting your objectives will help you to understand what it is you need to measure, and how you can evaluate the ROI at the end of your campaign. There are many KPI’s that can be applied to influencer marketing, but we’ve pulled together some of the most important ones to help you track your campaigns, evaluate how you’ve met your goals and reflect on performance so your influencer campaigns can continue to go from strength to strength.
Brand Awareness/Audience Growth
The influencer space is already creating discussions around industries and brands without any incentive. Working with the right influencers means you can integrate organically with an audience that are already interested in your brand and what you’re about. Ultimately, this will increase your visibility as a brand amongst your target market, and help you stand out from your competitors with authentic messaging.
You can measure your brand awareness and audience growth by tracking any spikes of engagement on your own social channels, as well as looking at impressions and reach of posts related to the campaign. Influencer’s insights are just as important to show you how many people were exposed to your campaign through reach and impressions.
Engagements are a simple way to measure how your target market reacted to your campaign. By measuring engagements such as likes, comments, saves, shares and reactions, you get a better understanding of how your target audience are influenced by the campaign, how loyal they are to your brand and how the campaign has had an impact on them and their lifestyle. Calculating your CPE (cost per engagement) is an important statistic to understand your ROI and how well your campaign performed. Simply divide your total spend by the number of engagements to get the figure.
If one of your goals is to drive more traffic to your website, then you need to be providing influencers with individual tracking links. Not only do they provide insights into traffic and clicks, but they’re a good indicator to find out which content platforms perform best for your brand, and where best to invest your budget for future campaigns.
The end goal for the majority of campaigns is to drive sales and conversion rates. Conversion is an important KPI to measure as it allows you to follow the journey of a consumer and helps you to understand what got them there, what they are interested in, and what incentivises them to make a purchase. The easiest way to do this is to track sales throughout each stage of the campaign so you can understand where your traffic has peaked and if there is any particular pattern in converting that website visit into a purchase.
If you are a brand looking to work with influencers and implement influencer marketing in your next strategy, then get in touch today by emailing: firstname.lastname@example.org or alternatively sign up for a 7 day free trial.