What are 4 simple ways you can measure the success of your influencer marketing strategy?
- SuccessLv 64 months ago
First by tracking the number of 'hits' you get on your media.
Second by tracking the number of followers you retain on your media.
Third by measuring the amount of advertiser income you gain from your media
Fourth by adding up the amount of sales you've made on your media.
- 4 months ago
You’ve set your eyes to connect with a social media influencer because you read that influencer marketing is a sure-fire trend that reaps tons of benefits.
But you’re also having doubts pushing through with the plan. Influencer marketing is a new-ish trend in the industry, so it’s normal to be suspicious, uncertain, or skeptical.
It’s been said that working with an influencer, brands reel in 11x higher return on investment (ROI). When you’re ready to test the water, we’ve laid out a few simple tips for you to follow when searching for the perfect social influencer for your brand.
Whether or not you've started to collaborate with an influencer, you want to make sure you’re getting the fruits of your labor.
So, how do you know if your partnership is working or you’re getting the ROI you deserve?
You need to define your brand’s goal and then use tools and strategies to measure your ROI.
You’re mainly diving into influencer marketing because of these goals.
Visibility – If you’re looking to promote your brand or a new product, your goal is to increase your online visibility. Influencer marketing reaches your target audience when you select influencers who are followed by your consumers.
Content – You need content that’s engaging and that connects to your audience. Working with influencers and their team opens brands to cost-effective strategies. Brands save on content creation while increasing sales potential and consumer reach.
Engagement – Aiming to increase your likes, comments, shares, or overall engagement with your audience? An influencer ad can do that for you. You’ll get a good sense of how consumers feel about your brand.
But how do you really know that influencer marketing is worth it? It’s when you see sales improvement. Here are some of the ways you can measure the success of your investment.
Creating a promo code unique to your influencer lets you track their impact on your campaign and your sales. These custom-made codes help you track purchases driven by influencer marketing.
TIP: eCommerce sites like Shopify, Weebly, and Wix provide tools to easily create promo codes for your influencers.
Simply put, affiliate marketing is similar to a promo code. And it’s a great way to track the money earned from an influencer.
How does an affiliate link work? Instead of providing an affiliate a promo code to share, you give them a link that they can add on their website. Their followers or subscribers click and convert. You track the conversions. Typically, these affiliates get a commission for every conversion made.
The links give data on the number of clicks to your website and the number of conversions, among other things.
Google Analytics is a very helpful tool when it comes to tracking your online sales. When you set up an “Event,” you can track which of your online shoppers visited your website from an affiliate or an influencer’s social media channel or site.
This provides brands like yours a reliable data to assess if your influencer marketing strategy is working the way you imagined it to be.
Cross-channel influencer campaigns let your brand engage with social media influencers across multiple platforms for a wider reach. This means you run a campaign with an influencer using several platforms, like Facebook, Instagram, Twitter, and TikTok.
Spreading your cross-channel influencer campaign increases the effectiveness of your ad. You can track and measure the ad’s success on each platform.
Influencers matter because they have helped so many successful brands that we love. Many marketers have found this strategy works well.